4 reasons why outsourcing a company’s travel and expense management is beneficial

Business travel has become extremely crucial for Indian businesses and according to a report by the Global Business Travel Association Foundation, the country is expected to become the sixth largest business travel market in the world by 2019. (Image: Shutterstock)

Speaking of which, having a dedicated travel manager has become indispensable, as they can ensure seamless business travel, answer queries, identify low-cost measures and will ensure the entire trip is planned within the travel and expense (T&E) budget. According to the report, this is the second largest operational cost in a company. In case you don’t have a travel manager, here are 4 reasons why you should outsource your travel services. (Image: Shutterstock)

Absence of a travel policy: Having a written travel policy in place can help gain control of travel expenses and put employees and stakeholders under a budget and strict guidelines. Keeping a budget can stop your employees from over-spending and follow a specific procedure. An expert can help in formulating guidelines, keeping in mind the frequency of domestic and overseas travel. (Image: Shutterstock)

Save costs: A sound travel manager looks at negotiating and exploring various hotels, rental cars and flight deals. They speak with various vendors for the most cost-effective deals and discounts, which can lower your travel and expenses drastically. (Image: Shutterstock)

Virtual payments: Many a times, especially on foreign tours, employees hesitate to carry large amount of cash. Companies also refrain from giving out cash to employees fearing misuse. In this backdrop, travel managers come up with virtual cards that can be swiped anywhere and will help keep a track of the budget. (Image: Shutterstock)

Streamline process: Through dashboards and data analysis, managers can keep a hawk’s eye on all travel expenses and streamline operations. Through a specific procedure, you can track your employee’s spending on the go. Travel management can be a challenging task and with smart systems in place, you can make the most of a business trip without overshooting the budget. (Image: Shutterstock)