3 tips for a successful SME business travel program
Business travel is a large and vital part of many growing small and medium-sized enterprises (SME) as they work to remain competitive in their market. Corporate Travel Management (CTM) provides three simple and useful tips designed to help SMEs ensure their business travel program and budget are delivering value.
1. Use a travel management company to save time and control costs
Using the expertise of a travel management company (TMC) will not only free up valuable time allowing you to focus on your core business function, but it also provides the peace of mind that a true travel expert is on your side when you need it the most – such as assisting in a last-minute change, an urgent booking or for complex international travel, a cancelation request, or to help you find that eleventh-hour hotel room in a city packed full of sporting fans or concert goers.
A TMC should be able to demonstrate its value, from travel supplier discounts and data analysis to improved travel purchasing behaviors, rather than focusing on service fees. Professional TMCs should be able to highlight the return on investment and look to not only reduce your overall supplier costs (air/hotel/car hire) but save your business the most precious commodity of all, time.
2. Maximize airline, hotel, and rewards programs to stretch your travel budget
Travel is a competitive industry – from airlines and hotel chains to credit card and car rental companies; there is no shortage of suppliers vying for your travel dollar.
With a choice of incentive and loyalty programs available, be sure you are not missing out on a “value-added” offering geared towards rewarding your business by simply doing business. Source an airline-branded credit card to pay for flights with that carrier to reap even greater benefits every time you fly.
SME programs are often free to join and can provide a significant benefit across the organization. If you’re unsure about what programs are available and which could be suited to your business, don’t be afraid to ask your travel provider or speak with CTM today.
3. Consolidate bookings to improve visibility, duty of care, and savings
Booking travel across multiple websites and platforms is an easy way to exceed your travel budget. By consolidating your bookings through one central online booking tool (or travel consultant), you will provide:
- your company with greater visibility of spend
- a duty of care by knowing where your travelers are at any time
- opportunities for further supplier discounts.
Designing a SME business travel program doesn’t have to be overwhelming or require a lot of work. Research what’s available to your business to minimize costs where possible across the different elements of your business travel program and always seek professional guidance where needed.
Ready to get more from your business travel spend?
Contact CTM to review your SME travel program and unlock better visibility, savings, and support.
What is an SME business travel program?
An SME business travel program is a structured approach to managing company travel, including booking processes, preferred suppliers, budgets, and traveler support. It helps growing businesses control costs, improve visibility, and support employee safety while traveling.
Do small businesses really need a travel management company?
Yes. A travel management company can save SMEs time and money by managing bookings, negotiating supplier rates, providing expert support during disruptions, and delivering visibility over travel spend, without adding complexity.
How can SMEs reduce business travel costs?
SMEs can reduce travel costs by consolidating bookings through one platform or provider, leveraging airline and hotel loyalty programs, using negotiated supplier rates, and monitoring travel data to improve booking behavior.
What are the benefits of consolidating business travel bookings?
Consolidating bookings improves spend visibility, strengthens duty of care by tracking traveler locations, simplifies reporting, and can unlock additional supplier discounts through higher-volume bookings.
Are SME travel programs expensive to set up?
Many SME travel programs are simple to implement and cost-effective. In many cases, loyalty programs and managed travel solutions are free to join, with savings and efficiency gains outweighing any service costs.
