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Corporate travel arrangements are the procedures that an organization or business employs to plan and execute employee travel arrangements. These can be domestic or international, and may include flights, hotels, cabs, meal costs, conference fees, meeting rooms and other logistics. Certain companies have dedicated teams or individuals who oversee and manage this responsibility. Others rely on third-party companies and software to manage these responsibilities. For successful business trips, it is essential to have clearly defined guidelines and be accountable.
Clear guidelines and policies reduce risks, maximize bookings, costs, and ensure compliance. They also make it easier to approve the process, so employees can feel confident when submitting requests.
A travel management system (TMS) in addition to establishing policies, can help companies monitor and plan business trips. This includes flight hotels, train and flight reservations and meetings and car rental on-site. It offers real-time analytics as well as information, which is beneficial to monitor travel spending and strategies.
A business travel policy could be a good way to determine whether or not employees are permitted to book business class flights because they are significantly less expensive than economy tickets once other expenses like meals and baggage fees have been taken into account. Certain companies also stipulate that frequent flyer miles accrued during business travel are the corporate property While some prefer that employees keep their own. It is important to consider the needs of every company when making these choices.