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Top 3 Tips to Reduce your Business Travel Costs

Today we have the world’s most sophisticated email systems, the most high-tech video conferencing tools, and a never-ending buffet of social media platforms. Yet the value of a handshake has never been stronger. Perhaps it’s because we have all these tools at our disposal that the return on business travel investment is greater than ever. Put simply, face-to-face interactions are a fast track to business success. (In fact, every €1 invested into business travel produces an added revenue of €10.)

But that shouldn’t be a license to send your travel budget flying out the door on the next first class flight. In reality, it gives your company all the more reason to carefully invest in well-considered, cost-effective travel.

Here are our top 3 headline tips to reduce your business travel costs, to ensure you maximise your return on investment:

1. Have a Policy

A travel policy doesn’t need to be a convoluted, complex document; it just needs to deliver value. Start with what will add the most value to your organisation. Is it selecting preferred hotel chains to enable your negotiating power? Or is it mandating a maximum cost per trip to reign in rogue spend? Work out your company’s travel pain points, and build it from there.

2. Incorporate Low-Cost Carriers

While larger airlines might provide rebates that reward bulk spend, low-cost carriers deliver value on each and every flight. Include low-cost carriers in your policy that will challenge your employees to find savings, without compromising their business schedule.

3. Assess what’s Required

When hopping on a short flight between European cities, there are often no differences between traditional airlines and low-cost carriers. So why would you choose to pay for bells and whistles that aren’t there? Low cost carriers offer corporate fares that provide your travellers with what they need (including fares that are flexible, free seat selection and hold luggage) so they don’t miss out on a premium travel experience, while you see the savings to your bottom line. easyJet’s flexi fares can be booked online and inclusive fares (free allocated seat and hold bag) are only available through travel management companies and their online booking tools (using a TMC and online booking system will also help maximise travel spend).

With low cost carriers flying to and from the same airports (easyJet flies to more primary airports on the top 100 European routes than any other carrier) and with on-time performance at the top of the industry rankings, it makes sound business sense to include low cost carriers in your policy. So not only does your company save money, you’re also where you need to be to continue making it.

It’s quite simple – the more you save, the more you can fly. And the more you fly, the more you can do business. So how will you start reducing the cost of business travel?

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