Corporate travel management is the function of managing a company’s strategic approach to travel (travel policy), the negotiations with all vendors, day-to-day operation of the corporate travel program, traveler safety and security, credit-card management, and travel and expenses (‘T&E’) data management.
For many companies, T&E costs represent the second highest controllable annual expense, exceeded only by salary and benefits, and are commonly higher than IT or real estate costs. T&E costs are not only limited to travel but include all costs incurred during travel. Furthermore, this area often includes meeting management, traveler safety and security as well as credit card, and overall travel data management. The management of these costs is usually handled by the Corporate Travel Manager, a function which may be part of the Finance, HR, Procurement, or Administrative Services Department.