Traveling is always an important way to network and spread the word about your business. However, this is also a significant expense to the company’s budget. With up to 50% going toward accommodation and air travel, every penny can make a difference.
There are many ways to optimize travel costs and efficiency, and one of the best is modern travel platforms. Depending on the size of your business, travel expenses can make up a significant portion of your expenses.
On the other hand, attending certain conferences and events can boost your success in the long run. These tips will help you balance costs and business growth potential and improve travel efficiency.
The importance of online tools in travel
Just because people were able to successfully travel cheaply in the pre-internet era doesn’t mean you shouldn’t find the best and most innovative tools in today’s environment. Furthermore, transportation costs, accommodation costs, event tickets, etc. are also rising higher than they have been in recent years.
There are platforms like TravelPerk that allow you to organize and manage your business travel in one place. Platforms like this are a great way to ease administrative tasks and provide better insight into your spending.
So instead of visiting multiple websites to book flights and hotels, track expenses, manage your finances, and sync your calendars, you can do it all on a single platform.
Travel management platforms automate certain processes, freeing up some of your employees so they can focus on more important tasks. There are also great data analysis tools that can help you gain insight into your long-term spending.
Traveling can be stressful, especially if you’re going somewhere you’ve never been before. With a travel management platform, you’ll have the support and knowledge you need to overcome any setbacks or problems.
Accommodation reservation
Accommodation costs are a big part of your expenses and can have a big impact on your overall enjoyment of the trip. However, it is difficult to find luxury and cheap hotels.
To make this easier, use a platform that offers discounts and tells you which hotels offer the best value. When booking a hotel, choosing last-minute options can sometimes be more affordable, but this is considered risky.
Travel management platforms offer better pricing and experience insights, as well as more detailed information on important aspects like Wi-Fi reliability.
This is primarily because business travel needs to be predictable and not being able to book a hotel on time can cause a lot of stress. On the other hand, booking early will give you a more affordable yet stress-free experience.
Early reservations are effective, especially during times when there are many tourists. If there is a high-profile business event, your best option is to book early, as prices are likely to increase during that time.
Accurate expense management
If you want to balance business potential with travel efficiency, you need to accurately manage your expenses. Get better visibility into your travel costs with travel management and expense tracking tools.
By collecting data on multiple trips over many years, you can also predict both expected and unexpected costs. Companies should set clear policies regarding business travel to ensure employees don’t overspend the company’s budget.
Many expense management tools provide responsible managers with real-time spending insights. Consider choosing a tool that allows you to automatically track expenses and submit digital receipts.
Of course, when creating this policy, you want to make sure your employees don’t feel restricted or stressed about their budget. Instead, there should be a middle ground between overspending and worrying about finances.
Ultimately, at the end of your trip, you’ll be able to properly separate your personal and business expenses and properly coordinate them with your accountant.
Use eSIM for business communications while traveling
Internet connectivity is essential while traveling. No matter what type of event you’re attending, you’ll need the internet to communicate. We’ve talked about the importance of having reliable Wi-Fi in your hotel, but there are other ways to get online.
Many people choose roaming packages offered by their mobile provider. However, these packages are often available in a limited number of countries, and you may end up traveling to countries that don’t offer data.
However, Wi-Fi is often unstable in public spaces, hotels, cafes, etc. There are of course many exceptions, but don’t rely on the idea that you’ll eventually find a place with good Wi-Fi. This not only provides a substandard experience but is also a security risk.
If you’re a business owner or decision maker, you’re a valuable target for hackers. Events such as business presentations can have pre-planned hackers present, creating a significant risk of data leakage.
The third option is an eSIM card. It offers the benefits of a combined Wi-Fi and roaming package. For example, they are as reliable and fast as data plans, but more affordable.
Although it’s not free like regular Wi-Fi, you can customize your eSIM plan to save money. Before you embark on your trip, it’s important to check whether your phone supports this technology and carefully consider how you plan to use your eSIM.
If needed, you can subscribe to multiple eSIM plans to accommodate the internet needs of other team members. A reliable internet connection makes it easy to quickly contact potential customers you meet at business events and conferences, increasing your business’s potential for growth.
Additionally, traveling to a new country or location can be stressful because without a reliable internet connection, you can have trouble finding hotels and events, or navigating throughout the city. .
Sustainability to improve brand image
There is a lot of discussion going on about how travel impacts the environment and what we should do to reduce our carbon footprint and take climate change into account. The sustainability of your travel options can have a huge impact on your brand image.
If you decide to take advantage of sustainable options, you not only have the potential to save money, but also have a positive impact on your brand’s image. This can improve your reputation and even attract new customers.
Businesses that utilize sustainable options, such as carbon offset programs and eco-friendly travel services, can stand out among their competitors.
For example, if you have a choice between a company that unnecessarily chooses cars and airlines that pollute the environment, and a company that does everything it can to reduce its impact on the environment, always choose the latter. You will.
Creating remote and hybrid policies
Depending on the size of your business and the frequency of your business travel, you should create the policies you need. Although most of this article talked about business travel, it’s important to also cover the daily commute.
Remote and hybrid companies are becoming more popular due to their positive impact on employee well-being and productivity. However, remote work is a greener option than office work.
Daily commuting leads to environmental pollution and causes so-called parking stress. Finding parking in big cities can be difficult, leading to unnecessary stress and fuel consumption.
When traveling for business, it’s important to understand which meetings and events must be held in person. This may mean you need to assess the type of relationship you can maintain with your clients, even through virtual meetings.
Adopting remote and hybrid policies that serve as guidelines for commuting and long-distance business travel can bring many benefits, from cost savings to increased productivity and more sustainable practices.
Optimized travel is essential for long-term business growth
For startups and small businesses, investing in better software or more professional employees may take precedence over travel. Still, there are some events that can help you get clients and partnerships that you might not have gotten at other events.
To reap the benefits of business travel, implement the aforementioned methods and services for a headache-free experience. However, keep in mind that no matter what cost optimization method you use, some events and locations will be expensive.
Calculate the costs and benefits in detail and see how much of a difference it can make if you implement the methods described above.
About the author: Veljko Petrović is an IT student who successfully combines a passion for technology with excellent writing skills. As an up-and-coming specialist in cybersecurity, he has completed several courses and has been published in prominent blogs in the industry. In my free time, I enjoy weightlifting, reading, and programming.
Linkedin: https://www.linkedin.com/in/veljko-petrović-699ab0201/
Website: www.writerveljko.com
