Last year we co-sponsored a survey of 590 Travel & Expense (T&E) managers who were responsible for managing the travel budgets of their Corporations. The survey, 2015 European business travel and expense analysis, found that after several years of decline, business travel spend in Europe is once again on the rise. Organisations increased their travel budget by 0.8% in 2015, reversing the declining trend observed for the past two years.
Interestingly enough, while the main reason that European Corporations spend on travel is to acquire and develop clients, with 56% of an average travel budget being dedicated to commercial development, 83% of respondents still considered business travel spend as a cost rather than an investment.
Despite this perception, respondents indicated that they are under increasing pressure to demonstrate a Return on Investment of travel spend while at the same time ensuring the security and comfort of their travellers. But just how can they fulfil this seemingly daunting task?
It starts with finding balance between a cost-effective T&E solution whilst keeping traveling employees engaged, comfortable, and secure during their business trips. With these elements in mind, corporations should be equipped with a T&E solution that is both good for the company and the individual traveller. It should not only have financial benefits, but it should also make processes easier and drive employee adoption with intuitive features.
Stay tuned to this blog as we explore business travel management in more depth. In the meantime, download the full study, follow our corporate solutions LinkedIn page, and visit the Amadeus’ Corporate IT solutions website.
Also, be sure to check out this video for a CFO’s perspective on corporate travel management.