Business travel, whether domestic or international, is a necessity for the continuous growth of any company. While video conference technology has made communication easier, face-to-face meetings are still an integral part of the thriving business culture and have, over time, proven to be more productive.
As a result, the business travel industry has seen a significant increase over the past few years, before Covid-19 hit. Before the pandemic, as per Global Business Travel Association’s annual forecast, spending on business travel was expected to touch $1.6 trillion by the end of 2020. A majority of that is from Asia, where companies spent $400 billion on business travel in 2018.
Issues with Business Travel management
Companies, burdened with an ever-increasing workload, often overlook mistakes in expense submissions or take too much time to verify the accounts. As a result, business travelers suffer suspended reimbursements, which can, in turn, lower the morale of the employees.
At present, most organizations handle their business travel needs through legacy systems, spreadsheets, or use old-fashioned booking methods that include either hiring a designated manager or a travel agency. These options are all expensive and time-consuming. It is difficult for them to fully support contemporary corporate travel management practices that require round the clock customer support, itinerary overviews and simplified expense reporting for maximum productivity.
But the Covid-19 pandemic, has lead businesses to reevaluate their business travel management procedures. Corporate travel planners are moving away from traditional travel agencies. New travel solutions, like SoldoutNight, are web based, efficient and free.
There is an urgent need now, more than ever, for companies to adopt a fully-serviced business travel solution that can guide them towards an uncomplicated and economical travel management experience.
Saving Time and Ease of Booking
The main benefit of an all-in-one corporate travel solution is the time it saves by taking away the need for any third-party, or multiple applications, when it comes to airline, hotel, or car rental bookings.
Having a single system for all reservations results in quicker and cheaper processing, with essential details available to both the business traveler and the employer, at all times, and in an easy-to-understand format.
Since the all-in-one travel solution gathers deals from various booking vendors, business travelers can expect to receive the best prices available, considerably reducing the company’s travel expense.
Further shortening the procedure of booking is the integration of company travel policies into the system. An employer can assign specific budgets for travel, resulting in faster business trip approvals, and an overall check on accounts for individual employees and departments.
Having this information handy is also useful for the business traveler as they can plan their journey accordingly, staying within the appropriate limits, resulting in quicker reimbursements.
Ideal for the Changing World
Covid-19 has resulted in many businesses rethinking the way they operate. As per growing trends, more organizations are likely to shift towards a work-from-home business module permanently in the coming years.
With decreasing physical interaction between employees, changing office timings, and work being done remotely, having a single web based travel management system, can prove to be a problem-free investment that requires minimal supervision.
Timely Customer Support
In contrast to an agency handling your company’s travel arrangements, an all-in-one business management solution offers a considerably better, more reliable, and swift 24-hour customer support.
For a company with business travelers in different time zones, this can prove extremely beneficial and time-saving. With only one point of contact for all your travel queries, it is simpler to tackle any problems that the business traveler might be facing at any given time.
Most new travel tech solutions like SoldoutNight, are free. Very few of their services may reqire small but insignificant feees. An all-in-one management service can help employers streamline their company’s travel expenditure by making it cost-effective and conveniently trackable from the moment an employee books a ticket until they receive payment for their expenses.
Most importantly, it brings together all transactions into one easy-to-use system, reducing business travel woes for everyone involved, and allowing you to focus on other more pressing matters of running your company.