1 Avoid last-minute trips

“Just like Oasis tickets, flight prices can be hiked when in high demand, so buying earlier can secure much cheaper rates,” says ATPI Director of Corporate Partnerships, Sam Davies, who recommends booking as far in advance as you can. While Clarity Senior Account Manager, Ann Thomas, suggests you can save money by booking at least two weeks ahead, Gray Dawes Director of Client Development, Gavin Sanderson, advises securing tickets no less than 28 days before departure. “Consider introducing a policy that mandates all bookings are made outside of 21 to 28 days, driving compliance and booking behaviour to secure best fares.”

2 Savvy stays

Conversely, for hotel stays, there are savings to be made on last-minute bookings. Managing Director of Global Travel Management, Scott Pawley, advises: “Last-minute booking apps or services can offer great rates, especially in business hubs where hotels often slash prices to fill rooms. While this is more applicable for shorter trips, or where the exact accommodation isn’t critical, it’s a useful strategy for those who can afford some spontaneity in their travel plans.” Corporate accommodation specialist Silver Door’s Vice-President North America, Stephen Homsey, points out that there are some locations, such as New York City, where booking accommodation outside the centre makes sense: “Centrally located accommodation can command higher ADRs (average daily rates) compared to accommodation that’s on the outskirts. Take the time to check out locations beyond the city centre that still offer good public transport links and connections to the office,” he says. “Our own booking data shows the average nightly rate for an apartment within New York’s Tribeca area is $200. However, if you were to book similar accommodation in central Manhattan, a major tourist hub, it could cost up to $357 per night.”

3 Alternative routes

Considering your departure point and mode of transport carefully can slash costs on short-haul business trips. “Regional airports offer fantastic value for money – often with the added benefit of fewer queues. Travel managers could consider Liverpool over Manchester, or Stansted over Heathrow for extra savings,” says ATPI’s Sam Davies, adding: “Similarly, trains are a great solution, offering a sustainable office on wheels, meaning your team doesn’t have to be offline during the working day.” MediaFlights.com’s Director of Operations, Craig Burnett, also recommends looking at taking the train: “If your business meeting is in the centre of town it may end up being faster overall as you remove the time spent travelling between the airport and the centre.”

4 Flexible dates

With a wealth of experience observing the best times to travel, TMCs have lots of top tips to optimise business savings. CTM’s General Manager for London, Stuart Birkin, emphasises flexibility: “Shifting an itinerary by just 24-48 hours could save business travellers an average 18% – and in some cases up to 69% – on their flight price. Even if a minority of travellers switch their travel dates by just one or two days, the savings to an organisation’s travel budget can be significant.” Choosing the best days to travel can also cut costs, according to BCD Travel’s Managing Director UK & Ireland, Claudia Jackson: “Our data shows that travelling out on a Tuesday and back on a Thursday is usually the most cost-effective option.” SilverDoor’s Vice-President Stephen Homsey also points out that staying flexible with travel dates can avoid seasonal hikes on short-term rentals.

5 Negotiate rates

“Use the company’s travel data and map out spend and travel trends to buy your travel better and negotiate corporate-specific pricing on regularly used routes,” advises Dawson & Sanderson Corporate and Commercial Director, Judith Alderson. It’s a tip shared by Beyond Business Travel’s MD Shauna Burns too, who says it’s possible to negotiate better rates with preferred suppliers or identify opportunities for group travel discounts. “Build a relationship with hotels that your team frequently travel to. This can yield tangible benefits in the form of corporate discounts but also value-adds, such as free upgrades, complimentary transfers, among other travel perks. Signing up to hotel or airline newsletters can also help businesses nab special offers,” says Corporate Travel’s Hannah Jarvis. Amex GBT Head of Consulting for SMEs, Simon Antoniou, recommends benchmarking the rates you’re being offered (last room availability is preferable) and setting up dynamic rate caps in your online booking tool.

6 Reward programmes

“Take full advantage of corporate reward programmes to further reduce travel expenses. This has real cash benefits that reduce your overall cost,” says ACE Travel’s Account Manager for SMEs, Jo Thrussell. Gavin Sanderson at Gray Dawes highlights airline loyalty schemes, in particular, as a real cost-saver: “Points schemes, such as BA Onbusiness and Miles & More by Lufthansa, are a great way of providing further savings to a travel budget. Points awarded via such schemes can be used for future business travel at minimal cost.”

7 Better behaviour

“What gets measured, gets managed,” says ACE Travel’s Jo Thrussell, who recommends SMEs use detailed management information (MI) reports to monitor and improve booking behaviours. “How many trips get changed? What is the average advanced booking time? Utilising MI isn’t just about how much you’ve spent, use the information to improve your booking behaviour and maximise savings,” she says. Beyond Business Travel’s Shauna Burns advises having a well-defined travel policy in place with clear guidelines on permissible expenses. Furthermore, encouraging employees to use an online booking tool (OBT) makes it easier to map and control booking behaviours, according to Amex GBT’s Simon Antoniou. “Use your OBT to drive policy compliance and thoughtful behaviour: include ‘trip purpose’ in the booking process and use questions, messaging and pop-ups to prompt better choices,” he says. BCD has found success in driving booking compliance by actively engaging the workforce: “Our engagement campaigns have driven results such as 64% shift in booking behaviour from one supplier to another,” says Claudia Jackson.

8 Bundle up

Industry insiders say booking travel packages often works out cheaper than arranging each element of the trip separately. “Some business travellers mistakenly book each component of their trip separately in hopes of a better deal, but bundling the trip usually results in the same cost, saves time and reduces the likelihood of errors for busy business travellers,” says Hannah Jarvis. “For many of our customers time is money, and bundled deals with airport transport make the booking and travel process seamless.” WNS’ Business Unit Leader for Travel and Hospitality, Jitender Mohan, recommends using tech tools. “Adopting a dynamic booking platform like Switchfly allows businesses to bundle flights, hotels, and car rentals into a single package, often at a lower cost than purchasing each service separately,” he says.

9 Check Ts&Cs

Plans change, bookings are made in haste, and your business could be leaking money due to cancellation and adjustment fees on travel. Hannah Jarvis advises not to rush the booking process and consider the Ts&Cs on flights: “We’re seeing a lot of people paying additional fees or incurring costs because they have not opted for a flight with the right terms for their needs. I always encourage businesses to do an analysis of the Ts&Cs of their flight before booking to make sure money isn’t being wasted on full-flex or equally on a fully-restricted ticket. Each business will have their own unique needs so it’s really critical to choose the right amount of flexibility,” she says. Amex GBT’s Simon Antoniou reminds bookers not to forget the Ts&Cs in hotel reservations either: “Include flexible cancellation Ts&Cs, and money-saving extras such as breakfast and parking,” he says.

10 Try gamification

“Our TMC members are telling us that some of their clients are using gamification to incentivise their travellers to cut the cost of their business trips,” says Andrea Caulfield-Smith, Managing Director Global Business Travel for Advantage Travel Centres. For example, a traveller might be allocated a total budget of £500 for a trip and, by switching to a low-cost airline or downgrading their accommodation, only spend £400. They will then get to keep a percentage of that saving or earn points which go towards a reward at the end of the year. The more they save the more they earn. Gamification can be applied on an individual, team or departmental level – and can be used to encourage travellers to travel more sustainably too.