The importance of saving overhead costs to any business cannot be underestimated. Generally speaking, the kind of overhead cost to save can depend on the kind of business. For instance, the restaurant and food industry thrives on saving money from wastage of food ingredients whereas the travel industry would want to save money by dealing with other associate businesses, like the hotel and service providing agencies among several others.
One of the areas where any business loses money is when their employees travel on a business trip. Since the cost is usually in the hand of the individual, it can be very difficult to track the expenditure and this can result in massive overheads. Therefore, it is important for every business to have a reliable platform in connection with their employee travel policy. Some of the controls that you can exercise on your employees while they travel include:
Your employees may only be able to see the reservations and not modify them. This gives you the control to select rates, accommodation types, means of transport and eventually, the money spent. The employees will always be in the picture as they can see the reservations in the portal and plan their journey accordingly.
You can also incorporate the maximum limit on the budget each employee gets while on a business trip to a specific region. They can exercise control over the time and place of booking, but has to stay within the allocated budget. This business solution can easily be provided on their cell phones for them to easily utilize the allocated budget on the go.
While some places cost more when booked for a longer time period, some are very affordable. If you have figured it out, you can allow your employees to stay in a specific hotel for a specific number of days before they change locations. Sometimes, staying for a longer duration saves per night booking cost. And the end result would be a reduction in the overall cost when you multiply the money saved with every travelling employee.
Control the Lodging Days
Weekends generally cost more, and employees may overstay to enjoy the weekend far away from home. With a business platform incorporated in the employee travel policy, you can control the days which they can stay. The platform can be directly linked to the work at hand and hence, help you avoid paying extra money for weekend nights. You can select the days by default or allow the employee to launch a request for specific days he requires, which can be vetted. The end product will be a reduction in overheads every time an employee travels, but on the bigger picture, the savings will be immense.
While you can encourage your employees to save money on any business trip, you can as well monitor the methods they follow in order to do so. Finding the best deal is one way of doing this, and another way is to formulate an employee travel policy and implement it with daily tracking. The money saved in this manner can be utilized for any other development area of your business.