Monitoring Business Travel Expenses


Corporate Travel - Feb 07, 2020

Monitoring Business Travel Expenses

One of the worst mistakes your business can make is letting corporate travel spending get out of hand. The travel and expense process can eat into your budget, and getting a handle on your business travel expenses is vital to your success. Luckily, cloud-based software has made it easier than ever to monitor your spending and make upcoming travel plans all in one location. Pay attention to every detail using these software and monitoring tips with your team. 

Cap Travel Spending

Global corporate travel leads to great networking opportunities, innovation and even new acquisitions for your business. At the same time, you need to set limits on spending in order to keep employees on the move. Put simple parameters in place to help your team stay within the realm of your company travel policy. Here’s how you can do it:

  • Use travel spending software to set preferences 
  • Approve business travel expenses such as flights and hotels before bookings are finalized
  • Examine expenses on previous trips and set a budget ahead of time 

One example of setting limits could be preferring your employees use Uber instead of a car rental. Alternatively, you may take advantage of booking with preferred travel partners to gain great perks which keep your employees happy as they travel. Partners offer benefits like priority waitlisting, hotel savings, discounts for business class and more!

Automate Spending With Concur

travel and expense process on iphone

Hiring an agency to help you make use of an automated spending program like the Concur App can save a great sum of money over the long term. Our simple ROI calculator can highlight your savings over a year-long period to see if your growing company is ready to take the next step and automate business travel expenses. Here are a few major benefits to automating your travel spending:

  • Save money on filing manual expense reports
  • Gain access to travel savings of up to 30% with our guidance
  • Implement travel programs to save money across the board

Using Concur Travel & Expense, you can create a hotel program, car rental program or monitor the lowest available fares all in one location. See how it’s done and explore our other savings that add up over years of travel to come. 

Hire a Travel Management Company

Plane with buildings travel

It’s hard to guess what great new tech upgrades are around the corner. Stay on trend and make sure you know what’s next with the help of a great travel management company. Here are just a few trends that could change how you monitor business travel expenses in the future:

  • Increased use of personal devices to book travel
  • More frequent use of Apps in case of delay or travel emergency
  • Automated check-in and boarding

Arranging a modern corporate travel and expense process to suit the next generation is easy with professional guidance. Contact Forest Travel today for a free consultation and demo.

About the Author

Carmen Stinson

Director, Global Corporate Travel Sales & Operations

Carmen is a seasoned hospitality professional with over 19 years of management, from the hotel industry to the corporate travel arena. She is dedicated to high-level customer relations, while an expert in financial management, and operations. Carmen passion for traveling matches her professional experience.

800-432-2132