Understanding Compliance in Business Travel
60% of UK travel managers allow employees to book their tickets independently according to research revealed at the Business Travel Show earlier this year. What does this mean for compliance? Read ahead to find out more.
What is compliance?
The term compliance describes the ability to act according to an order or a set of rules. In the context of businesses; compliance acts in two ways
terms imposed upon the company externally
terms set by the company for their employees to follow - this can be to better comply with the externals rules set on the company or to better comply with the internal systems of control
When it comes to business travel, the rules enforced by the compliance managers involve restricting the number of passengers flying on the same flight or banning travel to certain countries and travel by certain airlines. In some cases, companies use the rules to manage travel approvals.
Challenges faces today
Ensuring compliance with travel policies is one of the biggest challenges that travel managers face, simply from the fact that it is increasingly easy for employees to stray from the guidelines.
Employees tend to use their personal booking online choices for business related bookings - trains, hotels, and flights - outside of established methods. They have seen the savings they can make for personal bookings and think this will here too.
Out of policy booking is common place, especially when costs of flights are deemed to be too high or preferred hotels are located in inconvenient locations. Added to this, poor travel management tools can be all too much for employees who in their leisure time can book everything easily online in minutes.
When employees book out of the established methods it is important to have a travel security system that ensures that your employees are complying with the company policies during travel and that helps travel managers better manage this area of spend.
How can we help?
TrackBasic is an easy way to keep track of that flights that all of your employees make. This can help you manage compliance related issues as the travel data collected is used to flag any breach in travel policy. Compliance managers (or Travel Managers) can add additional compliance parameters and edit the already existing ones and the system ensures these parameters are followed.