Financial Services Industry
Industry: Email Alert RSS FeedFrame a travel strategy: find the delicate balance between avoiding travel costs and keeping travelers productive.
Journal of Accountancy, March, 2005 by Rosen, Cheryl; Tate, Will
EXECUTIVE SUMMARY
* HAVE A CLEAR TRAVEL POLICY signed off on by the highest levels of management, and give someone responsibility for managing the program.
* BEST PURCHASING PRACTICES are to maximize the amount of business you do with a small number of suppliers. But small firms often do better letting travelers choose the least expensive option for each trip.
* USING A SINGLE CORPORATE CARD for all travel and entertainment expenses simplifies the process of collecting data and ensures the best service for partners and employees on the road.
* LET TRAVELERS BOOK THE LOWEST AIRFARES available for each individual trip, but funnel all your firm's business travel and meetings to one or two hotel chains in the primary cities where you do...
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