Managing Business Travel Spend the Smart Way
As travel costs rise, many UK businesses are reviewing how they manage their corporate travel budgets. But cutting costs doesn’t mean cutting corners.
The key is smarter spend management – not just lower fares, but better planning, compliance, and supplier relationships. That’s where a travel management company (TMC) like Wayte Travel comes in.
1. Centralise All Travel Bookings
Using multiple platforms leads to fragmented spend and missed savings. Centralising bookings through a single agency gives you better visibility, bulk buying power, and policy control.
2. Create and Enforce a Travel Policy
A clear policy sets expectations on fare class, hotel star ratings, approval rules, and more. But it must also be enforced – ideally within your booking tool.
3. Consolidate Suppliers
Spreading spend across too many hotels or airlines weakens your negotiation power. A TMC helps consolidate spend to preferred suppliers, unlocking better rates and perks.
4. Get Real-Time Spend Reporting
Know exactly where your money is going. Track spend by department, purpose, or traveller to identify inefficiencies and budget more accurately.
5. Avoid Last-Minute Bookings
Emergency bookings often cost far more. Encourage advance planning and have approval workflows in place.
6. Offset Carbon Emissions for Sustainable Savings
Incorporating carbon offsetting into your programme can create long-term cost efficiencies, especially if linked to ESG goals or stakeholder reporting.
Smarter Travel, Better Business
Managing travel costs effectively doesn’t mean cutting back – it means partnering with experts who understand where the real value lies.Let Wayte Travel show you how to reduce spend while enhancing your travel experience.