Controlling Business Travel Costs with a Travel Expense Policy

The article argues that as business travel rises, cost control requires more than low-cost airfare and rideshare programs; documenting a travel expense policy has a major impact on the bottom line. A policy should cover standard categories such as accommodations, travel, food and entertainment with clear rules, simplifying reporting and approvals, lowering per-trip costs and reducing fraud opportunities. A GBTA Foundation and Sabre study found 59% of respondents say a company's travel policy is an important factor when considering a new employer, and 84% say the quality of their business travel experience affects business results.