savings report

 

Your business travel program can save you money

 

With business travel expenses expected to rise, analysing your business travel program now could be your ticket to serious savings.

 

Contents

Business travel is one of your biggest line items when planning out your fiscal budget. If you’re already reevaluating your travel needs or even considering a new travel management company (TMC), it’s easy to feel overwhelmed by options.

Here’s the thing, it’s important to think beyond dollars. Sure, saving money matters, but a strong travel program does much more than that. It’s about striking the balance between keeping your team safe, staying compliant, and taking the stress out of travel. That’s where a travel management company can swoop in, handle the heavy lifting, and make sure your travel strategy aligns with your big-picture goals.

Diving deep into what’s working (and what’s not) with your current setup positions you to fly through the year with ease, savings, and a bit of an extra edge.

Is your travel program in shape? Let’s find out

Ready to analyse your business travel program's health? Think of it as a wellness check for your entire setup that will keep everyone from your C-suite to your frequent flyers happy.

  • Policy compliance: Be honest, are travellers sticking to the plan? An overly strict policy might prompt travellers to find ways around the rules, leading to non-compliance and potential risks. On the other hand, a policy that’s too lenient can result in unexpected corporate travel expenses and compromise duty of care.
  • Cost control: Next, look at the dollars and cents. If corporate travel costs feel like a runaway train, it’s time to rein them in. Are you missing out on key vendor discounts or booking last minute? And when travel disruptions hit, how much does the scramble cost you? Identifying these bumps and areas for corporate travel cost control now can mean big savings down the line.
  • Employee satisfaction: A happy traveller is a productive one! How does your program stack up in terms of ease, comfort, and support? Does your program feel like smooth sailing or rough waters for your team? If travel disruptions and support gaps are common, it’s time to reset. Look for gaps in accessibility, comfort, and support that might leave some travellers stressed rather than set for success.
  • Reporting and visibility: Are you getting the business travel spending insights you need, or does everything feel like a puzzle piece short of complete? Strong reporting keeps budgets clear, compliance solid, and risks in check. Your travel technology should provide real-time insights that make optimising travel a breeze. If they’re not, it’s time to rethink the setup so you can easily track every dollar spent.

You need a just-right policy that protects everyone and works for all types of travellers every time. A TMC with robust policy compliance management can help your travellers stick to the rules without sacrificing flexibility.

Key metrics to evaluate in your business travel program

Let’s dig into the numbers. To optimise your travel program and save big, there are a few key metrics you’ll want to keep an eye on:

  • Cost per trip: Where are your dollars going? Analyse costs by trip and your average trip cost for flights, hotels, car rentals, and meals. Identify opportunities for cost savings by choosing budget-friendly options and negotiating better rates for frequent business travel.
  • Booking lead time: Encourage early bookings to avoid last-minute costs. Planning trips in advance with designated booking tools helps secure better deals and reduces unexpected price hikes.
  • Traveller safety and duty of care: Ensure your travel program tracks traveller locations and provides emergency support. A strong duty of care plan lets you respond quickly and effectively during unexpected situations.
  • Travel technology integration: Check if your travel systems connect seamlessly with HR and finance tools. Integrated technology simplifies approvals, expense tracking, and reimbursements, making the whole process smoother.

Keeping a close eye on these travel program key metrics sets your business up for efficiency, savings, and smoother travel experiences.

How to find the right TMC for your business

One size doesn't fit all when choosing the right TMC to manage your corporate travel program. Each TMC brings something different to the table, so it’s about finding the one that aligns with your goals, your team’s needs, and your growth plans. Here’s a quick roadmap to help:

  1. Align TMC capabilities with your goals: Choose a TMC that goes beyond bookings, contributing to cost savings and seamless travel experiences. Ask critical questions, like how they’ve delivered results for companies like yours.
  2. Global vs. local expertise: Ensure your TMC offers both global reach and local know-how. Navigating local regulations, travel patterns, and cultural nuances is essential for smooth, compliant international travel.
  3. Technology and reporting: Data is gold. Your TMC’s travel technology integration should play nicely with your systems. A smart online booking tool, business travel analytics, real-time reporting, and seamless tools should make tracking spending, managing policies, and finding savings effortless.
  4. Service Level Agreements (SLAs): Set clear SLAs for 24/7 support and performance expectations. This ensures your travellers receive immediate assistance, minimising disruptions regardless of the time or location.

Conducting an RFP and selecting your TMC

Choosing the right TMC is about finding the right partner. How do you sift through all the options?

  1. Set clear goals for your RFP: Know what success looks like before diving in. Are you focused on cutting business trip costs, enhancing traveller satisfaction and safety, or prepping for expansion? Laying out these goals upfront will help you zero in on the TMCs that match your priorities.
  2. Bring in the team: Involve key HR, finance teams, and operations players. They all have a stake in your travel program’s success. Each team member’s insights will strengthen your RFP and help ensure no stone is left unturned.
  3. Plan for long-term growth: Don’t just think about now; think about what you’ll need in two, five, or even ten years. Ask potential TMCs how they’d support your program as you scale and enter new markets.
  4. Host discovery workshops: Set up a few informal workshops with the TMCs on your shortlist. These aren’t just about presentations but about getting to know your future partners. Do they understand your company culture and values? You want someone who’ll be a great fit, not just a good vendor.
  5. Your TMC selection checklist: As you review proposals, keep an eye out for essentials.
  • Cost savings strategies? Check.
  • Duty of care protocols? Check.
  • Scalability? Double check.
  • Real-time reporting and data insights? Absolutely.
  • 24/7 support for business travellers? Essential.
  • Robust tech integration with your existing systems? A must.
  • Flexibility in booking options and policies? Yes, please.
  • Sustainability initiatives? A bonus for eco-conscious companies.
  • Proactive travel risk management? Vital for today’s landscape.

With a checklist like this, you’re ready to choose a TMC that meets today’s needs and grows and adapts to your business.

FAQs

  • What is a business travel program and why does it matter?

    A business travel program is your company’s framework for managing employee travel — covering everything from booking policies and approvals to expense tracking and supplier relationships. A strong travel program ensures cost control, traveller safety, and compliance, helping your business save money while supporting productivity and comfort on every trip.

  • How can reviewing my travel program save money?

    Regularly analysing your business travel program highlights inefficiencies, missed savings, and out-of-policy spending. By identifying areas such as late bookings, unused credits, or fragmented supplier deals, you can make smarter budgeting decisions and cut travel costs by up to 15–20%.

  • How do I run an effective RFP for selecting a TMC?

    Start by defining clear goals — cost savings, policy compliance, traveller satisfaction, or scalability. Involve finance, HR, and operations teams to ensure all priorities are covered. Evaluate each TMC based on service level agreements, tech integration, reporting capabilities, and cultural fit. Hosting workshops or discovery calls helps you find a partner that truly understands your business.

  • How do I know if my travel program is in shape?

    Evaluate your travel policy compliance, cost control, employee satisfaction, and reporting visibility. A well-rounded program ensures travellers follow guidelines, costs are optimised, and budgets are transparent, while keeping employees supported and safe.

  • How does a TMC help with cost control and savings?

    A TMC can secure exclusive negotiated rates with airlines and hotels, monitor booking patterns to prevent overspending, manage policy compliance, and provide expert advice to optimise your travel program and reduce unnecessary expenses.