Business travel is a necessary fact of life for companies seeking growth and profits. In fact 75% of executives believe that business travel is "extremely" important to increasing profits and increasing sales. For that reason, when travel expenses begin crippling your businness' margins rather than enhancing them, you have a major problem.
An effective travel management policy is vital to creating a cost friendly travel program which also fosters the ability of employees to do their job. However, one of the items commonly mentioned when discussing travel management is the desire to reduce the fees that come along with a top tier travel program.
On the surface, this makes sense. After all, if you can avoid paying fees you must be saving money, right? The truth, as always, is far more complex than first blush.
In this article, we will review steps for taming travel costs using what we call a fare AND fee approach. We will breakdown the key elements to driving fare value such as: