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INSIGHTS

The top 5 misconceptions about business travel costs 

Think booking the cheapest flight is the best way to save your business a bunch? Think again.

Many companies believe they’re cutting corporate travel costs with clever shortcuts, but those old-school myths might actually be hurting your bottom line more than you realise. Let's debunk the top five misconceptions about business travel expenses and show you smarter, hassle-free ways to keep your budget in check. 

Myth #1: Booking the cheapest fare saves the most money 

Reality: Sure, securing that bargain fare through a budget airline might feel like a win. But adding extra fees for luggage, seat selection, meals, and all those sneaky ancillary charges can quickly turn into a losing game. Plus, if your flight gets delayed or cancelled, the potential disruptions could throw your entire business trip and expense management off course.

The smart move: As they say, "it's about who you know." Partnering with a business travel management company (TMC) can give you access to an extensive global network. At FCM, you'll also have a dedicated account manager by your side, who will help you secure the best rates, avoid unexpected surprises, and fine-tune your business travel program to keep things running smoothly. 

Myth #2: Travel policies are just a load of red tape 

Reality: Without a solid travel policy, your employees could be booking flights and accommodation based on what they prefer, not what’s best for the company. That means inconsistencies, higher costs, and budget blowouts. 

The smart move: Keep it simple with a straightforward business travel policy. You’ll unlock savings when your business travellers book through preferred suppliers with pre-negotiated rates. With the right TMC, you can guarantee compliance and take advantage of additional perks, making the policy work for you, not against you.

Myth #3: DIY travel booking is the cheapest way to go 

Reality: While booking travel on your own might seem like it saves money upfront, the time spent juggling itineraries, finding deals, and handling last-minute changes can quickly add up.

The smart move: Let the experts handle it. A travel management company takes care of everything—flights, hotels, transport—while securing discounts you can’t access on your own. Your team gets smooth travel, and your business keeps more money in the bank.

Myth #4: Unused travel credits and refunds are just minor business travel expenses 

Reality: Leaving unused travel credits and refunds on the table is like throwing money away. Some experts suggest that, businesses have around 8-12% of their travel spend tied up in unused credits and refunds. For large companies, that number can hit the million-dollar mark.

The smart move: Get access to game-changing tech through a TMC. You’ll be able to track every travel credit and refund, so you’re not leaving a cent behind.

Myth #5: A travel management company is just an extra cost 

Reality: Contrary to popular belief, partnering with a TMC is one of the best ways to save money. With access to exclusive discounts, insider perks, an online booking tool, and longstanding relationships with travel providers, they help you secure better rates. Top that up with 24/7 support and industry experts, and it's value for money.

The smart move: Bringing a TMC on board means having a travel expert in your corner, handling all the details. They’ll take care of bookings, find quick fixes when plans change, and always hunt down the best offers, globally. They go above and beyond to manage your entire travel program, freeing you to focus on the bigger picture.

Ready to rethink your business travel strategy? 

Now that we've busted these myths wide open, it's your turn. Let’s talk smarter business travel.

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