Corporate Travel Online
Corporate Travel Online
The rapid migration of business online has revolutionized corporate traveling as well. By taking their travel bookings online, corporations in the U.S. are not only saving thousands of dollars every year but also speeding up the process of making travel arrangements and eliminating the tedium of expense reporting at the end of each trip.
Controlling the ballooning cost of corporate travel is today one of the biggest challenges for business. Because online bookings cut their own operating costs and overheads, airlines, hotels and corporate travel management firms are in a position to offer customers reduced fares/tariffs and charge lower commissions. And if you book air, hotel and car rentals through the same source, you generally pay a single service charge instead of three. The cutthroat competition in the online travel business also means that large corporations constantly sending employees on tours are in a good position to bargain for lower fares and tariffs from travel suppliers.
Companies that have taken their travel arrangements online therefore benefit hugely from a substantial drop in their travel and entertainment expenses, which are the biggest drain on their resources after salaries. It doesn’t matter if a company has just a few employees and managers traveling in a month or hundreds traveling every week. Organizing corporate travel online has advantages in either case.
It’s no surprise then that the trend is catching on fast. According to one estimate, the U.S. online travel market will touch $91 billion by 2009. Jupiter Research estimates that by 2009 a third of all travel bookings in the United States – both corporate and leisure – will be made online. At present about a quarter of travel bookings in the U.S. are made online.
Online corporate travel bookings also give companies and individual business travelers a greater element of control. Not only do they get a wider choice that makes it easier to shop around, they are better informed about their options and itineraries. Accounts departments can closely track expenses through this route. Many online corporate travel management firms also offer expense-reporting services to make that process smoother. When the savings and convenience of online bookings become apparent, companies also find it easier to enforce a corporate travel policy.
We at The Travel Team, Inc. have earned our reputation by making low-cost corporate travel possible for our clients. For more information on our online corporate travel services, visit www.thetravelteam.com.