Post-pandemic, platforms like Zoom and Microsoft Teams became widely used, and many expected business travel to decrease significantly. However, the reality has proven otherwise. Business travel expenditures reached approximately $1.36 trillion in 2023, a 32% increase compared to the previous year. By the end of 2024, they are expected to reach $1.48 trillion and are projected to surpass $2 trillion by 2028.
(Source: Global Business Travel Association. (2024). 2024 Business Travel Index Outlook: Annual Global Report and Forecast. GBTA. www.gbta.org)
While many companies use virtual meetings for day-to-day communications, face-to-face meetings remain essential for building trust and closing important deals. The overall number of trips may have decreased, but macroeconomic pressures have kept travel costs high, making effective management of these expenses increasingly critical. How can Albanian companies adapt to this new reality and better manage their resources? Why should you consider business travel management services for your company?
Business Travel Management: A Strategic Need
Forward-thinking corporations are increasingly relying on specialized agencies to efficiently manage their business travel. Here are 11 key reasons why your company should consider partnering with a travel management agency:
1. Cost Savings
Business travel agencies offer discounted rates and preferential pricing from airlines, hotels, and car rental companies. They can also recover funds from cancellations and refunds, preventing unnecessary losses.
2. Implementation of Digital Travel Policies and Procurement Processes
A well-structured travel policy standardizes processes for all employees, ensuring consistent travel practices aligned with the company’s goals. A digital travel policy is created for each employee, while the selected agency oversees and enforces the policy, monitoring and managing business travel at every stage. This structured process enhances control and efficiency, simplifying procurement and travel expense management.
3. Expense Management
Business travel is a significant part of company activities, making its management essential. Agencies provide detailed reports on expenses, helping businesses control costs and plan future budgets accurately.
4. Negotiated Rates and Added Benefits
How often have you searched for a flight ticket only to find that the price has increased upon checking again? Booking hotels, tickets, and rental cars individually is subject to algorithms and search patterns. Agencies leverage a company’s travel volume to negotiate better rates and secure perks such as lounge access, hotel upgrades, and priority services.
5. 24/7 Support
Regardless of the time or time zone, your employees will have immediate assistance for any travel-related issues. Problems are resolved without stress, eliminating the need for managers to intervene. Additionally, employee locations are monitored in real time, ensuring their safety, particularly in emergencies like natural disasters or other unforeseen situations.
6. Time Efficiency
Booking travel is a time-consuming and costly process. Agencies handle every detail, from flights to car rentals, freeing up employees to focus on their core tasks.
7. Employee Safety and Comfort
Monitoring global travel conditions and providing real-time updates ensures employees’ safety during trips.
8. Personalized Service
Customized travel solutions are tailored to the specific needs of the company and the preferences of its employees. Travel management services provide flexible options for a seamless experience.
9. Simplified Travel Processes
With a centralized booking/management platform, all bookings and invoices are handled in one place. A dedicated account manager ensures the seamless coordination of every trip.
10. Focus on Your Core Business
Outsourcing travel management allows you to concentrate on what matters most: your business. Administrative assistants lack the expertise and technological tools that a certified agency provides to optimize travel.
11. Biannual Reporting and Analysis
Biannual reporting and analysis are crucial for tracking and controlling travel expenses, identifying opportunities for optimization, and enhancing employee experiences.
The Right Choice for Business Travel Management
With 25 years of experience in the Albanian market and as part of a global network with 580 agencies in 105 countries, Elite Travel Lufthansa City Center (part of Elite Travel Group) offers extensive access to advanced business travel management services. Their expertise and advanced technological infrastructure help companies meet travel needs with efficiency and security, enabling businesses to focus on their strategic goals.
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