How SMEs can leverage corporate travel discounts without big budgets

What you need to know to leverage corporate travel discounts for SMEs. Big savings, big difference.

What you need to know to leverage corporate travel discounts for SMEs. Big savings, big difference.

By Julie Suhard

Two business travelers in airport heading to gate

Travel is a significant cost center for small and medium-sized enterprises (SMEs), but that doesn’t mean corporate travel discounts are out of reach. While SMEs might lack the scale or negotiating power to access corporate travel discounts, don’t fret, there are indeed some practical, budget-friendly ways SMEs can unlock travel savings through smart planning and strategy.

Debunking the myth of “Big Company Only” discounts

Not only large enterprises can qualify for meaningful travel discounts; many providers offer discounts for smaller businesses too. When choosing your travel technology that you will work with to streamline your travel program, be sure to choose wisely, prioritizing travel tech that can help you tap into the resources you need to untap savings.  

When it comes to SMEs, you may have the need to travel but a tight budget to make it happen. This is where having some strategies to leverage corporate travel discounts without big budgets comes in handy. Let’s take a look at some budget-friendly corporate travel hacks:

Join small business travel programs

Many airlines, hotels and rental car companies will offer SME-specific loyalty or discount programs like hotel rewards programs, business awards for rental cars and airline mileage programs. This is a great way to earn points, get upgrades and access corporate rates. To do so you must register with your business email and tax ID number to qualify. Make sure when you choose your other travel tech that these rewards programs are recognized so you can keep taking advantage of them.

Leverage travel & expense management platforms

Tools like GetGoing travel and expense management platforms cater to SMEs but are powered with the tools necessary to also service corporations with straightforward travel programs. By leveraging a T&E platform you can get access to negotiated rates, centralize booking and expense control, while also getting support from reporting tools that help you optimize your travel and expenses.

While many platforms may have free options, it’s a good idea to choose a tool that allows you to do everything in one place without having to integrate other tools through an API. 

Use virtual payment or business credit cards with travel perks

In the US it’s quite common to use credit cards that offer airline miles, hotel points, lounge access, or cash back. You can consider using one of these as a corporate card, or simplify your payments with virtual payments. This way you can control payments and ensure that no payments slide under the radar making you go over budget.

Plan ahead and set flexible travel dates

Having flexible schedules and planning business trips around when there are better rates is a great way to take advantage of better prices. You can use fare alert tools and compare rates across different days/times. 

If you work with a T&E management platform like GetGoing you can also get access to top notch technology like Go Smart, which helps you prioritize the cheapest flight options for your travelers by allowing you to see if a flight price is less expensive or more expensive than similar options so you can make the most informed and budget-friendly decisions.

Used a centralized booking system

Consolidating travel bookings on one single platform helps your business to prioritize low prices and ensure that everyone is on the same page when it comes to travel bookings. This not only boosts visibility but also bargaining power. This makes it easier to track travel spend, trends, and the ability to negotiate over time. 

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