Not according to a new eBook on Cost Saving Methods for T&E Expenses...
Are your employees booking last-minute travel? Tickets booked fewer than seven days before departure cost an average of 44% more than those booked 15 or more days in advance. Requiring trip preapproval would cut last-minute travel spending, but would also create more work for managers. A less drastic option would be to schedule recurring reminder emails for employees to book their trips in the month ahead. But would sending one more email on top of hundreds be well received?
While T&E is one of the largest controllable expenses, it’s also one of the most difficult to manage. The fundamental challenge is that normal price considerations don’t apply for reimbursable business travel, so employees have little incentive to limit spending. It’s not that employees try to spend a lot on their business trips, they just don’t have a reason not to. Managing travel expenses then becomes a matter of influencing thousands of individual spending decisions made by employees.
What if you could create an efficient, employee-friendly travel program? Cost Saving Methods for T&E Expenses, a guide co-created by Concur and Rocketrip, helps you do just that – including step-by-step instructions for:
- Analyzing existing travel spending.
- Evaluating the potential ROI of different corporate travel solutions and services.
- Writing clear travel expense policy guidelines.
- Using incentive programs to motivate reduced spending.
Download the eBook here.
Ready to motivate your employees to reduce spend? Get started