Sunday, February 23, 2014
Revealing Business Travelers Techniques
Some companies implement travel policies to ensure that business travel expenses are kept to a minimum, while other companies use expense reporting technology to track and manage travel costs. Some business travelers, according to a recent report, are even turning to fast food in order to reduce their meal costs during business trips.
Certify recently found that the most frequent breakfast eatery for business travelers was Starbucks, 14 percent of all responding travelers reporting that they had purchased food from the coffee shop while traveling for business. Respondents spent an average of $8.44 per meal at the location, illustrating how travelers are able to keep their meal expenses low by turning to restaurant chains. Certify's data was drawn from the last three months of 2013, ensuring that the information recorded is current and relevant.
For lunch and dinner, the fast food trend continues. Certify found that McDonald's was the most frequently chosen restaurant by travelers, further bolstering the idea that low-cost fast food restaurants are becoming more attractive than ever for on-the-go employees. The average amount spent by business travelers for both lunch and dinner at McDonald's was under $7.50 - far below what most businesses are used to reimbursing for lunch or dinner expenses.
Bob Neveu, chief executive at Certify, explained to The Los Angeles Times that the report makes sense because fast food and other quick-service eating establishments offer a number of benefits for business travelers: they are often conveniently located, the service is prompt, and many even offer wireless access so that individuals can complete their work while eating their meal.
"Most people are traveling individually, and they are out for the week trying to get something fast, convenient and consistent that is within their company policy," Neveu told the news outlet.
For many businesses, putting a cap on exorbitant travel costs is a top priority. Eating at fast-food restaurants is one way of doing so - but it's not the only way. With the help of expense reporting technology, such as the technology offered by Certify, traveling workers will be able to keep their travel expenses low, even without eating their dinners at low-cost chain restaurants. These expense report technologies can track and analyze costs in real time, eliminate out-of-policy reimbursements and do much more to keep a business’s T&E budget down.