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Negotiating Expenses For Corporate Executive Travel

Posted by Sean Collins on Mon, Jul 22, 2013 @ 08:05 AM

Tips for Maximizing Business Trip Value

executive transportation in New JerseyManaging your corporate travel expenses can make or break the success of a business trip for your company. Poor organization and unnecessary expenses can lead to a negative impact on your bottom line, as well as damaged relationships with employees and clients. Negotiation skills and tactics are absolutely needed to effectively distribute corporate travel expenses. But today negotiation is no longer just about face-to-face haggling for a lower price. Before you schedule your next business trip, you may want to reconsider the way you approach your travel expenses, from hotels to executive travel in New Jersey

Map Out Plan and Limits

Sometimes the best way to allocate your expenses is to display them visually, by mapping out expense categories on a chart that simplifies the process. Each category should have an estimated spending amount, and a hard cap limit, for all things such as meals, hotel rooms, drinks, etc. Having these limitations drawn out makes it easier to stay on budget during the trip, allowing you to track remaining budgets for individual categories. This planning time also gives the opportunity to discuss the importance of certain amenities based on the client or location. For example, if you are taking a client to Las Vegas you’ll want to allocate money for some fun at the gaming tables. Pre-planning for corporate travel should yield an overall goal for the trip, expectations and limits of expenditures, and reasoning for why those expenses will accomplish the goal of the trip. Use Executive car service. 

Plan For The Unexpected

Planning ahead is important to get an accurate estimate of your expenses, but it’s just an ESTIMATE, meaning it could easily be wrong. When organizing the budget for a business trip, there should always be more funds available than what you expect to spend. If you allocate every available dollar to be spent on something, there is no safety net for emergencies or surprise expenses. Unfortunately, when traveling hidden fees can be commonplace, even a trained eye can miss the fine print sometimes. When an unexpected charge comes up, or a new need presents itself, you’ll want to be prepared to handle the expense.

Prospect and Develop Travel Contacts

Each time you stay in a hotel, you don’t just have the opportunity to win over your client, but the hotel management as well. Developing a relationship with a hotel can help you save on your travel expenses, especially if you travel to the same destination often in a year. If you frequent a certain city for business, you can look into booking a block of dates with the hotel to a receive a discount. Some hotels offer VIP or member programs, which are a perfect option for business travelers to get better rates along with first-class amenities. Also, simply being a courteous and friendly guest can help you get the best service from hotel management. 

Don’t Sacrifice a Need Due to Price

Negotiating the best deal doesn’t always mean finding the cheapest price, especially in business travel where quality is of extreme importance. A client won’t be impressed because you snagged a hot deal on a two-star hotel for half of the cost of a nicer place. Finding a good hotel deal for  corporate travel means three things: One, the hotel suits the standards and needs of your trip. Two, it contributes to the goal of impressing your client, and three, the rate fits responsibly within your travel budget. Spending a little extra for better amenities or services can make the difference in closing a client. This applies to executive transportation, too. Which do you think will make a better impression: a dirty rental car, or a sleek and modern sedan?

Traveling Reflections

Another thing to keep in mind when planning your travel expenses and negotiating for the best deals is how your company will be portrayed on this business trip. Your employees are traveling representations of your company, and as such you’ll want to make sure they travel and stay in a manner fitting to your brand image. You don’t want to spend too much on your employees, as they are traveling for work and not pleasure, but at the same time it can reflect poorly to spend very little on their travel. The way your employees travel and stay while on a trip will have an impact on how the client views them and your company. Check out our Newark Airport Car Service

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