Keep employees informed of finances – One executive interviewed in this MSNBC article suggests keeping employees informed about the business so that they know how money saved now can be used for important projects in the future. This way your employees will be motivated to help keep expenses down.
Look for self service hotels – As this New York Times article notes, there is a trend away from the luxury hotels to self service for increasingly budget-minded business travelers. Why pay for laundry service when there are washers and dryers available in the hotel?
Use one card for all travel expenses – While this article mentions credit cards, debit cards and prepaid cards also offer the benefit of having all expenses in one convenient report.
Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry.