Rate of Improvement: 3 ways to help manage travel spend
Headlines abound with news of energy price hikes, a labour squeeze and pockets of geopolitical tension. There’s a great deal to be positive about when it comes to the return to travel and meeting in person but uncertainty doesn’t make it easy to plan and manage spend.
Here are some insights from the CWT GBTA 2023 Global Business Travel Forecast to help you get the most value from business travel.
The long view
A longer booking window helps you take advantage of advance purchase rates, which can make for savings at a time when rate are rising.
Booking as early as possible will also help to ensure availability. Use the myCWT app to book flights, hotel and car rental at the same time to keep everything in one place and make it easier to stick to your travel program parameters.
We go way back
Stay within your preferred supplier network and make it easy for employees to sign up for their loyalty programs. Forming genuine partnerships with suppliers will pay dividends.
Beyond the bill
Purposeful travel balances value for money, employee well-being and environmental responsibility, supporting business objectives and allowing teams to thrive.
Attracting and retaining talent are becoming key priorities for organizations leading many to evaluate their corporate travel policies to embrace more balanced and sustainable programs.
Gone are the days of limiting travel to the cheapest class and airfares, or halting air travel altogether in name of slashing costs.
Considering how and when to travel and taking a strategic approach to smart, flexible and purposeful travel policies to achieve higher level business objectives gives companies a competitive advantage.
For more insight into future pricing and planning for air, hotel and ground transportation download the 2023 CWT GBTA Global Business Travel Forecast.
About CWT
CWT is a Business-to-Business-for-Employees (B2B4E) travel management platform. Companies and governments rely on us to keep their people connected – anywhere, anytime, anyhow – and, across six continents, we provide their employees with innovative technology and an efficient, safe, and secure travel experience.
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