travel and expense management airplane | Teplis

Is Your Travel Expense Compliance Rate Costing You Money? | Teplis Travel

When it gets to the end of the month, do you dread travel and expense management? Gathering data and reports can quickly eat up your time, especially if travelers aren’t being compliant. 

The more travelers not following company policy, the more money out the door. Though they might find it trivial, the cumulative effect of everyone’s misbehavior results in a headache for accounting.  

Here’s are a few ways your traveler’s expense errors may be affecting the bottom line. 

Your Travelers Feel Limited in Choices 

If travelers take it upon themselves to book exquisite hotels and fly at peak times, your travel budget will surely suffer. Without a clear list of choices, your road warriors are bound to make a mistake, costing you money in the end.  

By giving them a range of top-notch, but cost-effective options, you empower them to make decisions as if they were traveling for leisure. From a management stand point, you can assess the most commonly booked requests, and make changes to your policy over time. No longer are the days where a compliance policy is set in stone forever. With insights to what people are actually booking, you can pinpoint which options bring unnecessary costs, and adjust your guidelines accordingly.  

Your Policy is a Poor Reflection of Culture 

You may not realize its gravity, but your corporate travel policy plays a great role in the company’s culture. You’ll face tough questions like, “Do only C-Suite level employees get to fly first class? How flexible (or not) are these rules? What kinds of purchase require approval first?”  

When drafting your handbook, balancing employee experience with company culture is a daunting, but necessary, task. If employees view their trip as a perk rather than a punishment, they’ll be less likely to color outside the lines. You can’t accommodate everyone, but keep in mind the different levels of employees and benefits for each. 

Travelers Are Confused or Lack Access to Policy 

A poor understanding of policy leads to accidental purchases for your travelers. Common expenses that should be clearly outlined are items like per diem for meals, hotel rates, and rental car costs. You might also consider providing a “Preferred Vendors” cheat sheet that employees can reference so they know exactly who they can use. 

A company app or server is the perfect place to house your policy manual. Travelers on the brink of making an out-of-policy decision can quickly pull up information before swiping their credit card. All too often, the employee simply lacks access to the necessary material to make an educated decision.  

Whether you’re looking to refine your travel policy handbook, or you’re starting from scratch, get in touch with Teplis Travel. We’ve been in the corporate travel business since 1972 and have worked with policies of all shapes and sizes. For your next business trip, we promise the lowest fares in the market and 24/7 support. Give us a call at 1800-669-6547 

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