Ensuring employees don’t overspend your business travel budget and stay within policy is a huge challenge for many companies. Since business travel is usually a large part of your overall company budget, it is essential to keep it under your control.
In this article, we’ll explain how TravelPerk simplifies travel policy compliance for your entire organization. From keeping Claire happy financially with flexible policies and automated approval processes baked into our platform, to keeping your jet set passengers satisfied with more autonomy to book their own travel and make better-informed choices that actually fall within budget.
5 ways Travelperk will help you thrive Travel policy compliance
Improved travel policy awareness
First things first, travel policy awareness is important. If your team hasn’t even read your policy, how will they stick to it? If you’ve spent time developing a strong business travel policy, you need to make sure employees know what’s actually in there! Sounds obvious, right?
But many companies hide their policies on shared drives or on the company intranet – where it’s easily forgotten and employees can’t access important information when they need it.
With TravelPerk, there are no excuses when travelers claim they don’t know what’s in the policy! We make awareness and compliance really easy by allowing you to bake your corporate travel policy into our booking tool. That means employees no longer have to search through lengthy policy documents or try to find your travel policy hidden in the depths of your company shared drive.
Once you upload your travel policy to TravelPerk, it integrates seamlessly into their business travel search, so travelers always know if a flight, hotel or train is covered by the policy.
Here’s an example of how your policy integrates into the TravelPark platform…
Traveler autonomy and peace of mind
So, what are the additional benefits of embedding your corporate travel policy on our platform?
For one, it eases the pressure on administrators and travel managers by giving employees more autonomy to book their own trips and make informed choices while still staying within budget.
Second, it also gives your finance team peace of mind. (Nigel, no more night sweats for your CFO…)
For example, if an employee tries to book a first-class flight for a conference or a penthouse suite for a company retreat, our booking tool will automatically flag that it’s out of policy. See an example below.
For added peace of mind and increased control over your business travel budget, we recommend setting up customized authorizations within the TravelPerk platform. So, if an employee tries to book a trip that falls outside the policy, you can choose a team lead or travel manager within your organization to be responsible for approving that trip.
Sounds like that? Let’s dive deeper into our customizable authorization options below…
Save time with automatic trip approval
Another benefit of baking your travel policy into the TravelPerk platform is the ability to receive personalized, automated approvals.
For example, if Mario in sales booked a train and hotel for a networking event next month and it falls within your travel policy (great job, Mario!) you can choose to have this business trip automatically approved in TravelPerk. Now Mario doesn’t have to wait for it to be approved or chase after his party’s leadership – he’s good to go because he’s stuck on principle!
Within your account settings in TravelPerk, you can set the approval workflow you want, who in your organization it applies to, and who is responsible for reviewing proposed business trips. Here is an example below:
So in this case, any trip outside the policy for those 3 travelers will go to MAT for approval. We offer a loose integration, which Increases approval speed by 80% By sending notifications to administrators of any new trips for approval. Dreamy!
Ultimately, you can choose how much control you want over your business trip bookings. Want to approve every trip? Absolutely fine! Happy to book travel that is automatically approved? Great!
We also offer the flexibility to set up different approvals for specific stakeholders. For example, if you want all C-Suite hotel bookings and airfare to be automatically approved, your approval process within TravelPerk would look something like this:
Automatic travel authorization gives you the best of both worlds: full control of your budget without micromanagement. They save your company a lot of time by eliminating the need to check whether every single trip falls within the policy. And in turn, it increases employee satisfaction.
You can also modify trip approvals at any time in your account settings within TravelPerk. Gives you complete flexibility and control over your business travel budget.
Personalized travel policy
TravelPerk allows you to set different business travel policies for different members of your organization. In general, we generally recommend keeping your corporate travel policies as simple and straightforward as possible. But if you need to set different rules for different groups to improve travel policy compliance, TravelPerk makes it really easy.
For example, you may need to set different travel expenses, cabin seat classes, and hotel room costs for your executive team compared to the rest of your company.
Here’s an example of how easy it is with TravelPerk:
Its total visibility Travel expenses
Are you noticing that you are overspending your business travel budget but not really sure how? You are not the only one.
With TravelPerk’s sophisticated reporting tools, you can easily see in real-time where the budget is being spent and who is adhering to company travel policies.
Is your marketing team ignoring your travel program and booking last-minute trips, causing you to overspend on flights that could be half the price? Or do your sales teams spend too much of their budget on taxis when they could be using public transportation? With TravelPerk reporting, your admin or finance team can categorize reports by department, team, travel service and more so you can easily see traveler behavior and travel trends to stay ahead of your budget.
Book a demo today to explore how TravelPerk makes business travel easier by offering you more flexibility, complete control over your spending and saving you money by offering the largest travel inventory on the market. Find out why we are trusted by thousands of companies worldwide