The 4 P’s of Corporate Travel Management

Corporate Travel - Feb 22, 2020

The 4 P’s of Corporate Travel Management

Corporate travel planning is a delicate balancing act. Navigating the ever-evolving industry requires careful consideration of the four P’s: policy, professionalism, platform and of course, profits. From large corporate business trips to smaller-scale companies embarking on their first essential trips, Forest Travel helps you identify your company’s next steps into the future.

1. Policy

We’re talking about your travel policy, of course. Before you can effectively re-assess your business travel protocol, it’s time to think about the last time you revised your travel policy, and make sure it’s up-to-date. Think of the following:

  • Does your travel policy reflect recent trends and updates in travel?
  • How are you helping your employees stay within the current travel policy? Have you streamlined your policy via booking applications?
  • Where can you revise your policy to make use of special corporate savings targeting the needs of your business and employees right now?

If you haven’t integrated travel management system software into your travel policy, this may be a good time to do some research and re-assess based on travel trends. Not sure where to start? A corporate travel planner from our team may be able to help you revise your policy to reflect the current landscape.

2. Professionalism

If you plan to announce a new travel policy or move toward new software to manage your business travel, proceed with a professional outlook. Managers must set the tone and display necessary professionalism moving forward into new territory. Help your staff comply with new policy by focusing on proven facts and professional advice so that you gain important buy-in from all key players.

3. Platform

Moving forward, your vision regarding corporate travel planning should be both sustainable and well-considered. This may be the time to move toward new technology and implement a travel management system that streamlines your expenses for travel.

  • Save between 18-30% using applications such as Concur that narrow down preferred hotels, airlines and partners for business travel.
  • Using an online booking tool for expense reporting cuts the hassle out of saving receipts.
  • Gain access to a dedicated agent 24/7 through applications like Magnatech to help monitor employee activity and receive real-time locational updates.

4. Profits

There is no doubt, travel can eat into your profits if you don’t plan cost-effective strategies to gain efficiency. Companies large and small have to carefully consider the pros and cons of using a cost-effective travel management system to streamline travel protocols. Your goals should be similar:

  • Obtain more ROI from business travel by reviewing data patterns in employee spending.
  • Reduce spending through travel management systems that can enforce automatic compliance of your policy.
  • Reduce risk for your employees and provide duty of care throughout trips.

An effective booking management program can really help you save when it comes to essential travel for business. For updated business travel information related to your travel management system, read the Forest Travel blog and contact our experienced representatives for advice on corporate travel management.

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.