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Taking back control over business travel costs in 2024
Today, there are many more remote and hybrid collaboration options for teams than at the beginning of the decade. That means it’s no longer standard to jump on a plane, train, or in a car to get to the next big meeting.
According to research from Deloitte, seven in 10 companies say they now weigh the need for business travel based on potential outcomes such as revenue generation, with associated costs, emissions, and health risks. So, what can businesses consider to ensure employee travel needs are met in 2024 without the spiralling travel costs?
Cost control and efficiency
While businesses continue to grapple with higher costs of supplies and services due to the economic environment in recent years, it’s essential to focus on working with partners and suppliers that give greater control over as many of their costs as possible, helping to bring those costs down.
For example, Bolt Business data shows that businesses can cut travel costs by around 25% by opting for Bolt Business instead of relying on taxis, buses, and car rental services. That’s because choosing Bolt Business for employee travel provides full control over transportation costs by managing ground travel with competitive, transparent prices, and data at their fingertips to help identify cost-saving opportunities. Businesses also see time efficiencies as there’s no more need to expense all types of business travel or fill out expense reports manually, saving around 20 minutes every month per employee on paper receipt processing and expenses.
Flexibility
Dynamic work schedules and locations demand the flexibility to book a ride in advance or at the last minute. With Bolt Business, customers have access to booking travel up to 90 days in advance, making planning trips for employees, getting company guests to events, and arranging airport pick-ups easier than ever. Business customers can also simply place a ride-hailing order as they usually would with the Bolt app at any time. With on-demand ride-hailing and scheduling rides available with Bolt Business accounts, customers have flexible, reliable business travel at their fingertips no matter their travel needs.
Scalability
As companies grow, their travel needs evolve. Choosing a business travel partner that can meet this with services that scale regardless of the size of the business is essential. That’s why with the Bolt Business Company Dashboard, businesses can add and group employees with ease, scale travel policies across growing teams, and gain visibility of all monthly rides in a single invoice.
As teams grow, access to various transport methods available becomes more important. With Bolt Business, employees can get to work with their choice of convenient, reliable, and safe travel options. For example, teams can stay focused on their tasks while getting picked up and dropped off in a car that suits their needs from a range of Bolt categories.
Values-based partnership
Businesses are increasingly under pressure to ensure sustainability is at the heart of their business strategies and practices. Employee travel is one of the greatest contributors to carbon emissions for businesses (World Economic Forum), while only 7% of business travel is over 1,000 miles, and most trips are under 250 miles. By providing several mobility options, Bolt Business can help move employees away from private and company cars by opting for an affordable, reliable, and sustainable way to travel for work.
Bolt Business addresses the travel needs of businesses and employees by seamlessly integrating Bolt booking and payment systems for business customers. With transport options like ride-hailing and micromobility available in over 40 countries across Europe and Africa, Bolt Business provides cost-efficient, flexible and scalable business travel.
