Corporate Travel Arrangements

Corporate travel arrangements are a set of procedures that a company or organization undertakes to plan and organize employee trips. They could be international or domestic and could include hotels, flights and cabs, meal expenses, meeting rooms, conference fees and other logistical requirements. Some companies have dedicated teams or individuals to oversee and manage these responsibilities. Some companies rely on software and third-party agencies to handle these travel planning duties. To ensure an effective business trip, it is essential to have clearly defined protocols and be accountable.

Clear policies and guidelines reduce risk, optimize bookings, costs, and ensure compliance. They also ease the approval process, so that employees can feel confident submitting requests.

A travel management system (TMS) in addition to setting policies, assists businesses to track and plan business trips. This includes flight or train reservations as well as meeting and car rental arrangements on-site. It offers real-time analytics as well as data that can be useful in monitoring travel expenditure and strategies.

Another aspect of a travel policy for business is specifying whether or not to allow employees to make business class bookings because they can be substantially cheaper than economy travel after other expenses like meals and baggage fees are included. Certain companies stipulate that frequent flyer points accrued on business trips are the company’s property, while others permit employees to keep the points. Whatever the reason, it’s important to weigh these decisions carefully according to the specific requirements of each company.