Travel is at the heart of many businesses. This is because business leaders know the value of getting out of the office and meeting people. The challenge is how to quantify this value and then decide what investments to make in travel. In the new study, Managing Every Mile, we commissioned The London School of Economic and Political Science (LSE) to explore what corporations may wish to address in order to better understand Travel & Expense (T&E) programmes and as a result to unlock a greater return on investment.
The study reveals that using best-practice processes enabled by technology, in a well- executed T&E programme can help organisations save money, increase employee satisfaction, and provide better duty of care. C-level executives from major international corporations provided their insights for the study.
The key recommendations from Managing Every Mile include:
- T&E programmes must align with strategic priorities across the business
- Expense should not be the only means of managing travel
- Technology has a vital role to play in enabling best practices for T&E management
While there is no one-size-fits-all solution, the study reveals many opportunities to enhance ROI. This can be achieved through greater use of technology such as mobile expense capture, by looking at what travellers want before and during the trip, how the booking process needs to work, the effect this all has on productivity and duty of care. With these elements, corporations can fully take control of travel management and create better journeys for their travellers.
Check out this infographic to see an overview of what the study highlights, including what the C-level interviews revealed.