News & Views from MyExpensesOnline

Help to Reduce Employee Travel Expenses

Top Tips from the team at MyExpensesOnline, on how to save money on travel expenses.

 

1.       Ensure there is a written travel policy for all employees, establishing rules and limits on expenses which can be reimbursed. Then make sure the policy is enforced.

 

2.       Is an overnight stay necessary? In some cases, the return journey can be done on the same day, saving a lot of money.

 

3.       If you are using specific hotels regularly, try to negotiate corporate rates, or shop around. For example, are there cheaper alternatives, or hotels which offer free breakfasts?


4.       Try to book in advance – many tickets are much cheaper if booked in advance. To encourage early booking, specify in your travel policy that last minute bookings must be authorised beforehand.


5.     Finally, and most importantly, make sure you have a good system in place to monitor those expenses. The little expenses all soon add up, so make sure each one is recorded, as accurately as possible. Keeping accurate records can allow you to review expenses and see where you can cut back if necessary.

 

MyExpensesOnline can eliminate many problems associated with a manual expenses management system. It can produce accurate reports allowing you to see where the money is being spent, and if necessary, where you can cut back. Contact the team to find out more.