Four Ways To Reduce Business Travel Expenses

With everything going on, business travel spend has significantly reduced in the last 18 months. With many countries opening up their borders to travel, many economic reports are projecting that business travel expenses are set to increase in 2022 and could reach closer to pre-pandemic levels. 

As many business travelers begin to book flights and hotels, there are a few things that can be done in order to keep business travel expenses down. 

1. Save on last-minute travel
It seems like travel restrictions and regulations are changing on a daily basis. Companies are finding that their pre-pandemic travel policies do not reflect the way their employees now travel. For example, companies used to be able to plan and book business travel far in advance, but with the rapidly changing travel restrictions, many travelers are booking travel last minute.

To combat the increase in travel prices from last-minute bookings, companies can lean on travel tools and apps designed for last-minute travel. Business travelers are also finding themselves needing to be a bit more flexible. Instead of booking a first-class ticket, many are traveling business class or coach in order to save.

2. Setting cost expectations
When booking travel, many employees don’t have a benchmark on what they need to spend on a flight or a hotel. Often resulting in the booking of high-cost flights and accommodations. To combat this, you can leverage Rocketrip. Rocketrip can be plugged into any companies existing booking platform like Concur. The Rocketrip dashboard enables employees to save by giving them a benchmark dollar amount for their flights. If they book an itinerary below the benchmark, they get rewarded with things like gift cards and cash cards. The result is a win-win scenario for the company and for the employees.

3. Encourage travel flexibility
Often the difference between saving hundreds of dollars on airfare is being flexible with travel dates. For example, if the employee is willing to travel the night before or take an early morning trip, the savings can be very significant. Of course, it would also help if your company is using a partner like Rocketrip which will reward the traveler for saving.

4. Streamline the travel approvals process
It makes sense that corporate travel approval systems have shifted from focusing on cost to prioritizing traveler safety. But, you don’t have to sacrifice safety for cost.

Using a tool like Rocketrip allows you to focus on Savings, Safety, and Sustainability. Rocketrip has partnered with Sherpa which allows travelers to see the latest safety notices and regulations specific to their travel dates and destination eliminating the guesswork while incentivizing savings.

Rocketrip also has a partnership with ThrustCarbon which allows companies to view, track and manage their travel emissions. Giving companies the ability to offset those emissions in a variety of ways.

If you have any questions on the information above or if you’d like more information on Rocketrip, feel free to reach out to us directly via email at info@rocketrip.com