When preparing for travel & expense management policy change, the question becomes: how do you move from a free-for-all T&E environment to a more effective, cost-saving model? Start with the basics:
- Set goals: look at your travel policy and establish baselines. Identify what’s the largest drain on your T&E costs, then work incrementally.
- Leverage new technology to make things easy for travelers, from booking a trip to automating as much of the expense report process as possible.
- Make it easy for infrequent travelers to use the system in place with just-in-time training.
- Use the data you collect to negotiate with airlines, hotels—as well as non-travel related vendors.
- Use travel cards to get rebates.
- Sell your users on the benefits.
- Make it easy to do things the right way, and harder (longer processing times, etc.) to go rogue.
- Put a system in place to support duty of care.
For more, check out our Modern Finance series with multiple companies' approaches to T&E management.