»»Best Practices To Reduce Business Travel Costs – Egencia Study

Travel management company Egencia — an Expedia, Inc. company — released its 2011 Global Cost Avoidance Study. The study, a global survey of 348 travel executives, revealed that 95 percent of respondents view travelers compliance as important to protect against growing corporate travel costs.

Failure to book air travel far enough in advance was identified by the respondents as the number one area where travelers tend not to comply. The survey shows that other areas where travelers mostly fail to comply include:
– Not booking preferred carriers or lowest logical fares (42 percent);
– Booking more expensive hotel rooms (32 percent);
– Not booking hotel rooms with preferred hotel partners (30 percent).

Yet a recent joint Egencia/NBTA Foundation study showed that a consistently enforced corporate travel policy allowed companies to reduce annual travel spend by at least 45 percent or more, 2011 Global Cost Avoidance Study reveals that 77 percent of respondents do not use incentives to keep their travellers compliant with their corporate travel policy.

Among the cost avoidance tactics and best practices corporations are utilising to reduce costs, “insisting that travelers use lowest logical fares” was identified as the most effective one — 55 percent of respondents saying that.
Other tactics used to avoid costs identified by respondents include: requiring pre-trip approval (51 percent), using hotels that offer discounted/included amenities (47 percent), using independent hotels (25 percent), and utilising a last room availability clause (17 percent).

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