Scaling up? And don’t know how to manage the increasing demand of business travel management.
How to make your business travel management game future ready!
Scaling a business might seem like an exciting journey- new talents are joining the team, new leaders are driving innovation, and your company is growing. But there’s more to it than that.
More employees mean higher resource consumption, increased demands, and therefore, a greater need for management in every aspect of business, including business travel.
Without a structured management approach, companies risk financial inefficiencies, compliance issues, and operational disruptions.
Before understanding the challenges, let’s first explore some key insights into business travel.
How frequently are your employees travelling for business purposes?
According to Deloitte’s 2024 report:
- 77% of employees who travel for business take 1 to 5 business trips a year.
- 15% travel 6 to 10 times a year.
- 7% go on more than 10 trips.
When the team size grows, according to this insight, each new employee adds 3 to 6 trips per year to your business travel budget.
Now, you might be wondering how much each trip costs and how it impacts your overall travel budget.
How Much Does Business Travel Cost?
According to Booking.com’s business report published in 2024, on average, a single business trip costs $1,771, which is Rs 1.53 lakh per traveler globally.
The average cost for an international business trip is $2,000 per employee, which is Rs 1.73 lakh.
The average cost for a domestic business trip is $500, which is around Rs 43,260.
As your team expands, so does your travel budget—but by how much?
According to the reports, if we break it down, each new employee adds 3 to 6 business trips per year, increasing your travel budget by ₹4.59 lakh to ₹9.18 lakh.
As your team grows, your travel expenses can rise significantly. But managing costs is only one part of the challenge.
What are the most common challenges that you might face along with increasing costs?
Here are some of the challenges that you, as CXOs or the Director of the company, might face if you mismanage your business travel:
- Rise in Travel Expenses: This happens due to unmanaged bookings. At a small level, you can micromanage things on your own or with the help of a few members on your team. But as your team size increases, travel expenses also increase. If left unmonitored and unmanaged, this can drain the most important asset of your business—money.
- Compliance Risks: Again, you cannot review or validate every booking yourself. You need a structured approach, and compliance should be automated and efficient.
- Administrative Inefficiencies: Approvals and reimbursements can become major challenges.
As your team grows, is business travel becoming harder to manage? Rising costs, compliance issues, and delayed approvals can slow things down. What’s the solution? A structured approach can make all the difference.
How can you solve these challenges?
- Save with Pre-Negotiated Pricing, Lowest Logical Fares (L1 Fares), and exclusive benefits provided by travel agencies like CoTrav.
- Map your travel policy with a system like CoTrav, where every booking is compliance-assured.
- Online approvals with no need for multiple vendors or a reimbursement structure.
Conclusion: Keep Business Travel Simple as You Grow
Scaling up is exciting, but managing business travel management doesn’t have to become a headache. As your team grows, so do travel needs, expenses, and compliance risks. Without a structured approach, costs can spiral, and inefficiencies can slow things down.
With a smart business travel management solution like CoTrav, companies have reported savings of up to 30% on travel costs through pre-negotiated fares, automated approvals, and seamless compliance management. Instead of struggling with multiple vendors and endless paperwork, you can streamline your entire travel process in one place.
The bigger your team, the smarter your travel management needs to be.
