(EMAILWIRE.COM, December 24, 2012 ) Atlanta, GA -- Companies in 2013 will try to get the most out of their investment in business travel, an American Express survey has found.
Almost three-fourths of companies will keep their business travel budget unchanged next year, according to the Barometer survey, which was conducted in September. Almost a quarter of companies – 23% – spent more on business travel this year. The survey polled 567 participants, including procurement managers, CFOs and finance directors at European companies.
“Companies across Europe recognized that business travel is an important investment that adds value and drives business growth,” Anthony Drury, vice president of American Express business travel. told SupplyManagement.com.
Businesses will take another look at supplier deals, track hotel expenditures, use preferred suppliers and purchase tickets in advance in an effort to get the most out of travel budgets.
Hotels are the latest area to emerge as a source of attention, according to the survey. More than half of firms – 54% – track hotel spending, and 88% rate it first in policy for travel. Other items include car rental, meetings and events.
With greater attention being paid to cost control, more businesses are starting to use travel management companies. The survey found 59% turn to travel managers as a source of data for return on investment.
In 2013, the biggest focus will be on cost control, 80%, followed by traveler security, 45%, and oversight of travel expenses, 41%. Among the most vital services will be around-the-clock support, online booking, maximized buying strategies and airfare sourcing.
About 60% of companies use an executive such as a CFO to manage travel budgets. Travel policies are in place at more than 90% of large businesses. About 74% of small companies are adopting travel policies, and among micro businesses, 50% have a set travel policy.
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