Survey: Are albanian businesses losing money due to poor travel management?

In today’s globalized world, business travel has become an essential element for the success and growth of companies. A recent report by BCD Travel Research & Intelligence highlights the role and importance of travel managers in global companies. According to this report, travel managers not only assist in organizing trips but also play a crucial role in cost optimization, ensuring traveler well-being, and aligning with the overall company strategy.

But how does this situation compare to Albania? Are Albanian businesses leveraging strategic travel management, or are they losing valuable funds due to inefficient approaches?

Why Is Travel Management Important?

The BCD Travel Research & Intelligence report reveals that travel managers have significant responsibilities, including:

• Managing relationships with travel suppliers (TMC – Travel Management Company, travel agencies).
• Developing strategies to reduce company costs.
• Analyzing airline policies for reimbursement processes (a highly overlooked factor).
• Ensuring traveler care and meeting safety standards.

Most global companies use advanced technology and dedicated teams to ensure every aspect of travel is managed with maximum efficiency. This saves millions of dollars annually.

Albanians and Poor Business Travel Management

In Albania, most businesses, especially small and medium enterprises as well as corporations, lack dedicated departments for travel management. As a result, organizing business trips is often entrusted to individuals without expertise, leading to:

• Expensive bookings due to a lack of knowledge about lower rates.
• Lost time in organizing travel, which could be spent on productive activities.
• Lack of strategies to optimize expenses, such as using modern technology or negotiating with suppliers.

Conversely, the BCD report highlights that companies with a dedicated travel manager save up to 30% of their travel budget.

What Can Albanian Businesses Learn?

1. Invest in Travel Management Technology: Many Albanian companies can benefit from dedicated platforms for booking and expense management, reducing costs and increasing transparency.
2. Hire Experts or Collaborate with TMCs or Travel Agencies: A specialized manager or collaboration with a travel agency can help negotiate better prices and ensure a secure experience for travelers.
3. Use Data for Decision-Making: Analyzing past expenses and travel habits can help Albanian businesses plan better and save money.

Elite Travel Group, through Elite Travel Lufthansa City Center, has been providing the technology and expertise for years to manage all aspects of business travel.