Is your company asking you to pay for business travel out of pocket?

If you’re someone who travels regularly for work, chances are you’ve been asked to pay for a business trip with your own money before. We feel your pain!

You wouldn’t believe how many companies ask their employees to do this. Not only is this a huge inconvenience for you, but it can also be detrimental to the company in question in multiple ways.

Unfortunately, there are no rules against companies doing this, but there are solutions.

Before we discuss them though, let’s dive deeper into why this is such a problem.

Why is this a topic?

From our own experience, companies that don’t have a travel management solution will often ask employees to prepay business travel expenses out of their own pockets. For those of you who are business travelers and businesses operating this way, this can cause all sorts of problems.

For business travelers

difficulty

Let’s face it, paying for plane tickets, train tickets, hotel rooms, ground transportation, and other travel expenses causes all kinds of stress.

First you need to spend time researching booking options within your company’s cost policy Then you’ll need to keep track of your actual expenses, organize invoices, and possibly submit an expense report. You then have to wait for human resources to confirm your expense reimbursement and refund you.

All this takes up valuable time you can use to do actual work.

Financial stress

When your employer asks you to pay for business-related expenses with your personal funds, it can cause unwanted — and sometimes uncontrollable — financial stress.

What if you can’t pay these expenses out of pocket at the time? Business-related travel usually doesn’t come cheap. Airline tickets, rental cars, meals, incidental expenses such as tips and taxi cabs. It all adds up, and especially with inflation and the cost-of-living crisis of late, it’s perfectly reasonable if you don’t have money in your bank account to pay for corporate travel in advance on a regular basis.

Using your personal credit card/cash advance to pay for work-related travel may not be an option for a number of reasons, so obviously this practice of paying for business travel out of pocket is not ideal for employees.

It can also be detrimental to business.

for business

Incompetent

Whether it’s a small business or a large corporation, paying for employee travel and covering their expenses later is inefficient.

This involves accounting for numerous invoices from multiple employees, with finance managers often having to chase individual employees for each invoice. It is a colossal waste of time. Time that could be spent on far more important (and profitable) things.

Enforce company policies

If a company’s employees are booking their own trips on consumer websites, it can be very difficult for the company to properly enforce its company travel policy. It is likely that employees will sometimes choose excessively expensive airfares and hotel rooms and go beyond the prescribed travel policy.

It can easily exceed the budget allocated for business travel.

employee (dissatisfaction)

As you probably well know, all the issues involved in using your own money for business purposes can cause a lot of frustration.

If businesses want to keep their employees happy and comfortable, they need to start working differently.

A good solution for everyone

If you’re worried about paying upfront for business travel and you want to do something about it, it’s probably best to take a ready-made solution to your manager. One that will benefit both you and your company in many ways. Here’s why TravelPerk is the perfect option:

  • TravelPerk is one Modern consumer-grade solutions To manage all aspects of business travel. Booking, managing, reporting, spending and everything in between is covered with TravelPark.
  • Your company can easily set up its travel policy with TravelPerk by setting rules and processes within the platform. This means that all booking options outside of your company’s travel policy will be clearly flagged. You will still be able to choose these options if you wish, but you will need to obtain approval from the appropriate person within your company to do so. This can all be done through the TravelPerk platform, making it easy for you to always book what your company is happy with.
  • TravelPerk allows your travel manager to easily view, track and manage all company traveler data in real time. This means no more emailing back and forth and wasting your precious time.
  • Centralized shipment Also allows instant invoicing after every booking and customized reports detailing all traveller’s expenses. So chasing individual invoices will become a thing of the past.
  • With the world’s largest inventory of travel services, TravelPerk guarantees that your company will always receive the best corporate rates on the market. so Your company saves moneyAnd you’ll find an unparalleled choice of transport and accommodation options.
  • Among other benefits, if your company chooses TravelPark as its travel management solution, you’ll never have to pay for business travel out of pocket again!

If you’d like to learn more about how TravelPark can make your life easier and your company more efficient and profitable, request a demo today.

See how TravelPerk makes business travel stress-free

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