The financial impact of business travel: revenue driver or drain?
The only thing predictable about business travel costs is that they’re unpredictable. Travel and expenses are one of a company’s greatest financial uncertainties. Real-time travel and expense data is a rarity. And there’s a demand for tools to better forecast spend and remove the need for travel bans.
According to research that SalesTrip conducted in 2019, travel and expenses are one of the biggest variable costs to a company. When it comes to building revenue and retaining customers, there’s only so much that can be done over the phone or video calls. 80% of an organisation’s travel spend is from commercial teams (sales, marketing, customer success) and as the old adage goes, you have to spend money to make money.
We interviewed 500 senior finance leaders across the UK and US about about how they track, manage and justify business travel spend. There’s a demand to better forecast spend, avoid travel bans, gain efficiencies and understand how business travel can truly contribute to revenue growth. Download our free eBook and find out what they had to say.Download eBook