Corporate business travel must be seen as investment not cost: Amex
With many industry analysts of the opinion that corporate business travel will suffer the worst in this global economic crisis, American Express is trying to persuade businesses to think of travel expenses in a different light.
Speaking at the Australasian Economic Travel and Tourism Resilience Forum this past weekend, Justin Morgan, American Express Business Travel General Manager, emphasised that business travel expense must be recognised as an “investment†rather than a cost.
“Travel does remain essential to doing business, and you need travel to win market share and drive growth.”
“So it’s critical that we all become more sophisticated in our approach to travel management and help our customers maximise travel spend,†said Mr Morgan.
“In other words we need to cut costs without cutting travel.”
“So it’s times like this, that we need to view the travel and entertainment spend very differently.”
“If business travel is required to operate in this global world, we really need to view it as more of an investment than a cost… we all know how difficult it is to win business without face to face interaction,†he adds.
Tips that he gave to smart travel managers for organising business travel include, booking early to secure the best deals, going over contracts and ensuring travel planners know what they include, e.g. cancellation costs, possibly extending trips so flights can be sought on cheaper days, and utilising the skills of a travel agent to book complex itineraries to save money.
Mr Morgan emphasised the importance of business travel, and that it made up 50% of all travel business.
Additionally, he advised that corporate travel agents should sell business travel as a “ROI†or Return on Investment travel, and sell the benefits of personal interaction with clients.
“If there is no return for their investment, people won’t travel,†he said.
A Report by The Mole from Forum media partner eTravelBlackboard
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