In today's fast-paced corporate world, business travel is inevitable. However, with the emergence of web-based carriers, New Distribution Capability (NDC), and the unbundling of airfares, the choices have become vast and often confusing.
The aim in corporate travel is to understand what you need to buy and then get assistance to source the best option so that you only book (and pay) for what you need.
At Clyde Travel Management, with our decades of global expertise, we understand the intricacies of corporate travel savings. Let's delve into how you can optimise your travel spend and ensure you only pay for what you need.
Understanding the New Age of Business Travel
As the industry evolves, so do the strategies companies employ to manage their travel expenses. The modern age has ushered in a plethora of choices, from unbundled airfares to the rise of web-based carriers. While these options offer flexibility and customisation, they also introduce complexity.
It's essential for businesses to stay informed and adapt to these changes, ensuring they harness the benefits while navigating potential pitfalls. With the right approach, companies can optimise their travel spend, ensuring efficiency and value in every journey.
The Rise of Unbundled Airfares
Gone are the days when an airfare included everything. Now, with the unbundling of airfares, business travelers often pay extra for bags, seats, and food while out on business trips.
This can be overwhelming, but it also presents an opportunity. By understanding exactly what you need for your trip, you can tailor your bookings to your exact requirements, ensuring you don't overspend on unnecessary add-ons.
The Impact of Web-based Carriers and NDC
The digital age has brought about a plethora of web-based carriers, each offering a range of options. Coupled with the New Distribution Capability, businesses now have access to a wider range of airfare options than ever before. The key is to navigate this vast landscape with precision, ensuring you get the best value for your company money.
The Changing Trends in Booking Trips
While the traditional advice has often been to book well in advance to save on travel costs, market data in the UK suggests a shift in this trend. Post-pandemic, individuals are booking flights almost twice as long in advance as before. However, they're also making fewer trips and staying longer when they do travel.
In addition, companies are making more use of an online booking tool, which can ensure cost-effective and efficient travel arrangements.
This brings us to the concept of purposeful travel. If every trip has a clear objective, you can maximise productivity during your stay, reducing the need for frequent trips. This approach not only saves a significant amount on travel expenses but also benefits the environment.
Aligning Corporate Travel with Company Objectives
The changing trends have impacted the way travel policies are created, which takes us back to the question: how purposeful is your travel?
A travel management company plays a pivotal role in this alignment, acting as a bridge between travel managers and the broader organisational goals.
These travel managers work closely with the finance team, ensuring that every trip not only serves a strategic purpose but also aligns with budgetary constraints. Companies can therefore strike a balance between meeting their objectives and saving money, ensuring that every journey is both purposeful and cost-effective.
Reviewing Your Travel Policy
A well-defined travel policy is more than just a set of guidelines; it's a strategic tool. By ensuring that every trip aligns with company objectives, businesses can ensure that their travel arrangements are always purposeful. This not only reduces the number of trips but also ensures that every trip is as productive as possible.
Emphasising Value Over Cost
While it's essential to keep an eye on travel costs, it's equally important to focus on the value derived from each trip. By emphasising outcomes and benefits over mere features, businesses can ensure a higher return on their travel spend.
Addressing Common Concerns
While it is often necessary, we understand that change can be daunting. With the evolving landscape of business travel, many companies have reservations and questions.
At Clyde, we're here to address these concerns, leveraging our international reach and decades of experience to provide clear, concise, and valuable insights.
Clyde Can Help Your Business Save Money on Business Travel
In the ever-evolving world of corporate travel management, staying ahead of the curve is crucial. By understanding the changing landscape, aligning travel with company objectives, and focusing on value, businesses can significantly reduce their travel expenses.
Ready to optimise your travel booking process and save money? With Clyde's global expertise and personalised approach, we're here to guide you every step of the way.
Contact us today to learn more or request a custom quote tailored to your business needs.