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Travel health check urged for business

Travel health check urged for business article image
For many businesses, travel and entertainment is the third highest company expense behind wages and the cost of maintaining a business premises, according to James Kavanagh, travel and expense management specialist with FCm Travel Solutions. Kavanagh says it's time businesses conducted a travel health check to ensure they weren't paying more than they had to. "Businesses looking to get more value from their travel budgets could consider strategies including implementing an effective travel policy, streamlining the booking and approval process, using preferred suppliers and buying the right type of airfare," he said. Start with a sound travel policy, Kavanagh advised: "The most successful corporate travel policies are concise, have clear mandates and are ‘owned’ internally by someone who will work with travel managers to measure, track and take corrective action for non compliance. Policies can help organisations streamline their booking processes, book with certain hotels or use Best Fare of the Day to really boost savings." He added: "As a rule of thumb, businesses with fewer travellers, lower travel budgets and less resources should focus on buying business travel at the most competitive cost in the most convenient way."

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