Corporate travel is a big source of lost money in the business sector. Year after year, companies search for ways to cut corporate travel costs without damaging their efficiency afield. Now is the time for companies to start looking at areas where they could be saving money with the help of a private car service.
Car Rentals
The first thing you need to consider is how much money is being spent on rental cars that are ultimately sitting in a parking garage for hours on end without being driven. For most corporate travelers, a car is only needed once or twice a day, and could easily be replaced with a private car service that defrays the cost between multiple employees.
Parking
One area that companies should really focus on is how much they are spending to reimburse employees who drive their own cars to the airport and on long range trips. Airport parking can cost $25 a day or more, and daily parking fees on location can add up even faster. These little fees nickel and dime your company almost imperceptibly. With a private car service you will completely avoid parking costs, and any shuttle fees that may come about when employees are forced to park far away from their destination and ride into town.
Fuel Reimbursement
Perhaps the most unpredictable piece of the corporate travel equation is fuel reimbursements. In the last decade, we’ve seen gas prices surge and dip drastically, making the price of travel double or triple in a matter of days. For companies that are reimbursing fuel costs, this can become a real problem. The benefit of a private car service is that the cost of the ride is set up front and will not fluctuate as gas prices shift up and down. This will help you cut corporate travel costs by offering more transparency and predictability.
Lost Time
Finally, we must account for the opportunity cost of lost time when your employees are sitting behind the wheel. In reality, employees are often willing to work from the back seat, taking calls and making notes, if they don’t have to worry about driving themselves.
There are many reasons that a private driver is key to helping you cut corporate travel costs. As you assess your travel expenses this year, make sure that you are considering all four of these factors to determine how much you could be saving.
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