Corporate travel arrangements are a set of procedures a company or organisation undertakes to plan and manage employee travel. They could be domestic or international, and may include hotels, flights taxis, meals, meeting rooms, conference fees and other logistics. Some companies employ dedicated teams or individuals to oversee and manage these tasks. Some companies depend on software and third-party organizations to manage these responsibilities. For a successful business trip, it is crucial to have clear guidelines and be accountable.
The clear guidelines and policies for business travel help reduce risk, optimize bookings and costs, and ensure compliance with regulatory requirements. They streamline the approval process so that employees feel confident when submitting requests.
In addition to setting policies, a travel management system (TMS) assists businesses in booking and track business trip-related activities, including flight, train and hotel reservations car rentals, as well as on-site meeting arrangements. It usually provides real-time information and analytics, which are beneficial in monitoring and optimizing travel spending and strategies.
A business travel policy could be a good way to determine whether or not employees are allowed to book business class flights because they are much cheaper than economy tickets after other costs such as baggage fees and meals are considered. Some companies require that frequent flyer points earned during business trips become the company’s property, while others permit employees to keep the points. It is crucial to take into consideration the needs of each business when making these decisions.