Avoiding Risky Business

19 Aug 2015

The principal risk of online travel booking is financial.

Allowing your staff to jump on the internet and make last-minute travel bookings might seem like a good idea but according to Corporate Traveller expert Andrew Kemp, it could be costing your company dearly.

Every time someone goes it alone and books outside a mandated travel policy they’re exposing the organisation to unexpected costs. 

Hidden fees can quickly add up to 20% to the cost of a simple business trip through online booking fees, merchant fees and processing fees lurking behind a bargain. Booking online can even incur fees just to guarantee a displayed price. 

Luckily the financial risks associated with online bookings can be eliminated in a single business decision.

To mitigate the risk of overspending and increase your ROI, partnering with a professional Travel Manager has obvious advantages. 

For example, a Travel Manager will:

  • Eliminate online booking fees
  • Give your in-house booker a single point of contact
  • Eliminate the need to trawl through websites 
  • Provide last minute emergency booking changes
  • Supply the best rates and fare 
  • Deliver comprehensive and transparent travel reporting

Most of all, an experienced Travel Manager will be able to  your company’s travel policy, even assist in its creation if needed, and avoid the aforementioned risks. 

 

About the author

Andrew Kemp is Corporate Traveller's National Operations Leader. He is a CPA and former financial controller.