Corporate foreign exchange news

Business travellers 'need to change habits'

Wednesday, 31 March 2010 09:23:44 GMT

Published by Zeb Bham
Businesses need to tackle "maverick travellers" who do not adhere to corporate travel policies, according to Business Travel magazine.
Editor Gill Upton has explained that during bullish periods, companies were happy to foot the bill for running up expensive tabs on business-class travel, luxury travel and last-minute bookings.
Now, Ms Upton claimed, altering this behaviour is one of the "hottest topics" in the business travel industry, with many companies refusing to cover expenses for those who fail to plan in advance and fly economy class.
"It's easier said than done and some companies are coming down hard on them - refusing to pay out of policy expenses, for example, or introducing pre-trip approval procedure - to get them to behave in the appropriate way," she explained.
Research from the Business Development Research Consultants showed that nearly half of all business travellers have been asked to alter their travel behaviour.
Businesses looking to rein in international payments made to overseas clients may also benefit from searching for the best deals on foreign currency ahead of payment deadlines.
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