Lola.com Makes It Easier Than Ever to Save Money on Corporate Travel
tl;dr: New dashboards, reports, and indicators help users track, spend, and quantify savings throughout the travel process.
Did you know that corporate travel expenses are the second biggest line item for the average company? Indeed, only salaries costs more. Because travel costs eat up such a big chunk of your budget, it’s important to find ways to reduce them as much as possible. At Lola.com, we aim to not only take the pain out of corporate travel management, but help you save money on it at the same time. In fact, we just rolled out a suite of new features to help you save money – and track those travel savings in real time.
These features give both your admins and travelers comprehensive insight into when they’re doing a good job saving, but more importantly when they could be doing a better one.
Admins can now see a summary of all travel savings and spending for their company on their reporting dashboard. Travel savings are broken down into flight, hotel, and rental car categories. Additionally, you can see your top saving employee and department, as well as your top ‘out of policy’ (overspending) employee and department. These insights can be used to reward good behavior and monitor and discuss behavior that needs improvement. Combined with the email notifications sent out when ‘out of policy’ bookings are made, admins will now have complete visibility into their employees’ adherence to the company travel spend policy.
Let’s see what these new features will look like on the admin’s dashboard:
It’s important for travelers to know not only that they’re inside their company's travel policy, but by how much. With Lola’s new dashboards and reports, employees can easily see how much they are saving compared to their company’s travel policy on flights and hotels (1) during checkout, (2) on receipts, and also (3) in confirmation emails. Additionally, any savings realized through Lola's access to negotiated or discounted fares will also be displayed in comparison to public fares seen elsewhere.
Why is it important for travelers to have this information? Consider this scenario. If a traveler has been within $25 or so of the company hotel policy on all of their recent trips, they’ll be able to see that and might realize it’s time to find less expensive options that gives the budget some room to breathe.
Let’s take a look at a few examples in which travelers will see these new features in action.
First, we see savings during checkout.
Next, we see travel savings indicated on booking receipts.
Lastly, if your company books negotiated or discounted content through Lola, your employees will see the amount they are saving with these fares compared to the rate direct from the airline.
Travel is an important part of most businesses’ success, but there’s no denying that it can be expensive. However, that doesn’t mean there aren’t ways to save money on your travel spend. And the first step is knowing what you’re actually spending, so that you can adjust your behaviors to control this spend. We’re excited to provide these new tools and resources to help you track your savings in real time. Only then can you truly identify opportunities to save money on corporate travel.