Every corporate functioning involves a lot of travel. These travels include travel for a meeting, site inspection, and delivery of services. Every company has a provision for travel in their budget. These companies also assigned specific people to their company or outside travel agent to manage their business travels. The work of these agencies dedicated to the cause of the company is called corporate travel management. There are specific tasks for every corporate travel manager. These include:
Managing all the bookings
Any business travel requires a lot of bookings. The transport fare, lodging and food cost, duration of stay, booking of the meeting arena, and extra travelling cost have to be taken into account. The travel manager also has to keep a record of all these bookings. It is near to impossible for a regular office-goer to keep track of all these bookings. Therefore, a corporate body should give these responsibilities to a person who excels in these works. Most companies work with a travel agent for this purpose. They have the skill and experience to take care of all these duties.
Keeping a record of all the corporate travels in a financial year
Every company budget must include company travels in their listings. The travel manager’s job is to keep records of all the expenditures related to business travel and whether all the travels can be fit in the budget allotted at the beginning of the financial year. The planning for the business trip plays an important part in this process. Every trip is allotted a specific cost, and all the parts of the trip have to come within that total cost.
Planning the budget for the next year
The corporate travel managers also have to take part in planning the budget for the next year. They have to provide important information about how the travel budget is spent, and whether there is any leftover money that can be carried forward to the next year. They will also speak about the trends in expenditure and whether it will change in the next year. Finally, they will also provide advice on how to plan the different business travel to fit into the budget.
Corporate travel management is an integral part of every business. Most companies hire professionals to take care of these responsibilities. These managers provide the best solution for spending the money to extract maximum profit for the company from such investments.