Tackling T&E costs: What's working now
Sure, cutting back on travel is a great way to save — but for some companies it’s just not an option. So how do these firms manage T&E spending?
That’s what the recent study, “Procurement Practices 2010” by Business Travel News, attempted to uncover.
According to the study, here’s how companies’ managed their road warriors’ T&E spending in 2010:
- Regular policy communications through e-mail, company intranet, etc. (83%)
- Online communications/red flags in booking (66%)
- Online communications/red flags in reimbursements (60%)
- Mandates (51%)
- Travel counselor verbal warning (44%)
- Business unit comparative report cards (36%)
- Sharing savings with suppliers (31%), and
- Incentive programs (23%).
Instead of scrapping T&E initiatives altogether, there’s good reason for companies to work toward managing costs. For example, when it comes to travel purchasing, companies can cut costs by an average of 10% per year.
Readers, what tactics does your company use to get employees to keep their T&E costs low? Share them with us in the Comments section.
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
Further Reading
CFOs intend to continue cutting costs and boosting efficiency in every area possible through 2024 and probably well into 2025. And unfortun...
Business school students aren’t waiting until springtime to apply for jobs and internships anymore. Hiring managers are busy sifting ...
If your company’s employees are like most, they’d score a big fat F on a financial literacy test. Every year, the Teachers ...
Clichés are so easy to use – but they are a cop-out. You may think they’re great ways to connect with people, motivate your tea...
If you believe workplace polls, more than half of working adults do just about the bare minimum that’s required to keep their jobs. ...
How you push one staffer’s buttons might not be the best strategy for another staffer. But there are some motivational “Dos” and “D...
