Managing budgets in 2023 post pandemic

If 2022 was the year travel returned, then 2023 is going to be the year that travel is made more ‘budget’ effective.

With budgeting for 2023 currently occurring in corporate travel teams across the globe, there are several key trends that are impacting budgets. Looking ahead to 2023, there is an anticipated rate hike for flights coming (of around 23%), due to fuel prices continuing to soar, staff shortages and cancellations. Coinciding with this arrives a possibility of at least 15% price increase for hotel rooms in 2023. These estimations are before we consider other aggravating circumstances, like rising petrol prices, frequent rail strikes and hire car shortages.

In order to make your 2023 corporate travel budget work for your organisation, it is time to get creative and make the most of all tools available.

To travel or not to travel

First and foremost, each travel request must be analysed closely. With each journey, considerations as to whether there are alternative options which allow for more efficient meeting objectives and better budgeting must be noted. Multiple options are available, such as meeting virtually or moving the meeting/event to a location that is easier for all attendees to travel to. Once a process is in place to ‘weed’ out the non-essential travel, then further budgetary action can be achieved.

Planes, trains or automobiles

At ATPI, we have the technology to find the most cost-effective method of travel, across all means of transport. Corporate travel bookers now need to get creative in exploring all potential options to move their employees around the world. The first port of call used to be quickest route from A-B, but now budget and sustainability are trumping this decision-making driver.

An effective TMC like ATPI will always find the cheapest flight route and best options suited for their clients within all their criteria, meaning they will never be tempted to turn to online travel aggregators to double-check fares.

Hotel

Ensuring the best rate for a room is key to maintaining corporate travel budgets. For example, ATPI has a technological system that is continually rate shopping up until 2pm on the day of check-in. This ensures that the best possible rate is secured – be that an early booking rate or a late deal.

This ‘multi-channel’ approach brings together years of experience and technology to manage budget and consistently source the best possible option for our clients.

Customer service

Strong customer service from your TMC builds trust. We work to strict call pick-up times of around 16 seconds, meaning our clients know they can speak to a real person when they need them – whether that’s during office hours or in the middle of the night. We also believe in being readily available and in convenient communication with our clients no matter where they are, using apps like WhatsApp and MS Teams to achieve this.

Using these platforms, clients can send messages to their account team and receive real-time replies and updates on their travel plans and any amendments. This takes the stress out of travel, and in turn supports budget planning as the traveller never needs to contact their account team to book another mode of transport or hotel room, which would only add to overall expenses and the stress of travel.

When all these tools come together, a cost-effective and stress-free travel plan is delivered and maintained for both the business and the traveller.