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5 Top Tips on How to Save on Corporate Travel

Companies are always looking for ways to cut costs and corporate travel is one area where, with a little forethought and out-of-the-box thinking, savings can be made without affecting the comfort of the business traveller.

Here are our Five Top Tips:

  • Book in advance

Travelling by train or plane (but especially train) can be massively expensive. If you have arranged meetings or visits far enough in advance, book your transport straight away to take advantage of cheaper fares. If you can guarantee that your staff will definitely travel at specific times, tickets can be even less expensive.

  • Be flexible

When you’re searching for travel fares, don’t just look at the times you know you’ll need to travel. A little flexibility about when you or your staff travel will probably save your business money – it could even work out cheaper to travel the night before and stay in a budget hotel than it does to travel at peak times.

  • Use a corporate travel agency

If your staff do a lot of travelling, it may be worthwhile to use a corporate travel agent. Not only will it save your staff time spent doing the research and bookings, you might also save money by taking advantage of the economies of scale an agency can negotiate.

  • Stay in serviced apartments instead of hotels

The growing demand for serviced apartments reflects the many advantages they have over hotels. Frequent travellers appreciate the home away from home qualities about them, and companies like them because they can save a lot of money. For the price of one mid-range hotel room, you can accommodate two members of staff, each with their own bedroom, as well as have a communal area where they can work, eat, watch TV, etc. With a fully equipped kitchen, they can please themselves about what they eat and when. And there’s no room service, so nothing they can be tempted with!

  • Offer per diems instead of expenses

Instead of letting your staff loose with a company credit card, offer them a daily allowance for their own meals, drinks, etc. – if they spend more than their per diem, it’s up to them to foot the bill. Even if it is a generous allowance, you are more than likely to end up saving money on your people not going for the most expensive option on the menu, or raiding the mini bar, just because the company’s paying! There’s also the added bonus of not having lots of receipts to process when they get back to the office.

If you are organising business trips to North London, check out our serviced apartments and save money on business accommodation.

 


Danny Sofizade
19 Feb 2019

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