4 tips on how you can get more out of your Travel & Expense process
Do you spend a large chunk of your corporate budget on travel and expenses? Have you noticed that your travel policy is out of sync with your company’s strategy, leading to inefficiency and high costs? If so, you’re not alone!
Many companies spend a fortune on travel and expenses (T&E). But, most of them overlook or mismanage this huge area of expenditure. This leads to high costs, inefficiency, lack of a strategic overview of travel management and employees who are frustrated with the process.
Include IT early in travel and expense-related processes
Together with the London School of Economics and Political Science, Amadeus recently interviewed 26 senior corporate travel managers to find out how they manage their travel and expense processes. The findings were published in our white paper Managing Every Mile – How to deliver a greater return on investment from Travel and Expenses.
In a nutshell, the key takeaway from our study is: “Make IT your best friend and include IT early in travel and expense-related processes.”
4 tips for a better T&E process
Let me share some tips on how you can get more out of your T&E process:
- Use a modern IT system to get a better overview of your T&E expenditure so you can take more strategic decisions. But, be aware, as one of the interviewees in our study said: “Getting T&E right is not just about installing a solution. I wish it was.”
- Align your T&E program with your company’s strategic priorities. Growth, cost, efficiency, employee value proposition, risk management and analytics top the list of corporate priorities. Does your travel policy reflect these priorites?
- Don’t use data from your expenses system to set the strategy for your travel program. Instead, focus on the preceding steps and systems to create a more targeted approach to drive positive change.
- IT is the backbone of good travel and expense management but don’t rely on just one system. Capture travel data at the right points in the T&E process so you can get better deals.
To wrap up, I think it is safe to say that, as a buyer, you need a trusted technology partner to get the best possible return on your travel program. We, at Amadeus, can be that partner. Both as a trusted advisor and technology partner covering booking, expense management, business intelligence and consulting.
About the author
Anton Muhrbeck is a global sales manager at Amadeus Scandinavia who loves his job as it combines his passion for travel with helping clients improve their travel programs: “It’s very satisfying to see how our solutions can simplify the daily life of a business traveler.”