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Managers: How to Cut Travel Expenses for Business Trips

by Alex W (follow)
Business (103)      Advice (10)      Money (8)     

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For some companies travelling for business is just simply unavoidable. Whether it's discussing offshore drilling or negotiating with manufacturers, executives are always looking for ways to cut costs. Here're a few tips that can help you do just that.

Book in advance. This can be one of the simplest ways to save some big bucks. Normally, prices increase when people make last minute arrangements. Flights can be almost half of their original rates depending on how early you book your trip. Booking approximately two weeks in advance can definitely put a dent in your wallet but research shows that booking domestic flights 57 days and international flights 171 days before departure can give you’re the best rates.

Pack efficiently and lightly. It's important to not over pack for corporate travel. If possible, pack only what you need and try to make everything fit in to a free carry-on. Otherwise, you'll be hit with an extra hefty fee. Remember, hotels usually provide irons which can help get the wrinkles out.

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Image via Corporate Keys

Stay in a Serviced Apartment vs. a Hotel. Serviced apartments can be up to 40% off the average hotel rate. It's a fraction of the price and they're available to almost anyone. They can include complete kitchens which can be convenient if you don't want to eat out every day during your trip. Some units come equipped with an on-site washer and dryer which is also an added luxury. They all offer the same amenities of a hotel but with the space, comfort and privacy of an everyday home. It's definitely a refreshing alternative to the traditional hotel stay and an affordable way to save while on a business trip.

Tip: Check for apartments that are located within walking distance to shopping centers, entertainment and great restaurants which can also help save on transportation costs.

Try Ride Sharing. First, check to see if the hotel or serviced apartment offers shuttle or chauffeur service. Many properties offer discounted or free transportation services within a small radius of the actual property. If you're traveling to a big city with a lot of traffic, then you might want to check the area to see if any ride sharing services are offered. Services like Needaride allows drivers to post their destination to the rides database. Passengers can then search the database and contact the drivers to see if they are heading in the same direction as their destination.

Take Advantage of Company Discounts. A lot of businesses forget that they even have company discounts. Check to with the HR department to see if your company has any special perks like restaurant deals, transportation vouchers, specific airline discounts and more.

With the prices of rental cars, hotels, food and airlines at its peak, there's no question business travel is becoming more and more expensive. However, as you can see there are many other ways to cut costs when it comes to travelling. Most of these tips require little effort but can really make an impact on a company’s travel budget.

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