financially savvy business traveler on a budget

The Shortest Guide to Being a Financially Smart Business Traveler

Are you looking to make your business travel more cost-effective?

The key isn’t to reduce spending, but to identify and eliminate unnecessary expenditure.

Apps and services have swarmed the market. But which ones are good? More importantly, which ones are good for business travelers?

To make financial savviness easier, we’ve shortlisted a whole list of apps to help you save costs, increase productivity and stay travel-ready at all times.

This article covers some vital insider tips on saving money while on business travels. These apps will not only reduce spending for you, but it may also save time as well.

Keep Track of Expenses and Reward Points

You can’t reduce costs if you don’t track them. Get an app that tracks your expenses on-the-go. Using these apps gives you and your team more visibility into spending trends, prominent spend patterns and more. The added advantage is the fact that your expense report is already done before your trip ends. (You know how happy your accountant will be about that!)

Here’s our recommended combination of apps:

  • Fyle: Fyle allows you to click photos of paper receipts, keep track of e-receipts, and receipts in all formats – all through a mobile app. With automated data-extraction, it auto-fills all relevant data (date, category, vendor,etc.) This way, you will never need more than 5 seconds per expense claim.
  • Splitwise: This is an ideal option for costs that are not covered by the company as “business expenses.” Splitwise does wonders to keep track of individual expenses if you are traveling as a team.
  • Points Loyalty Wallet: Manage all your loyalty programs in one spot, move points and miles between programs. You can also redeem them for shopping and dining gift cards. The app has partnerships with multiple vendors which allows you to have more control over the use of reward points. (Still looking for a better way? Here are a few more services that let you track reward points.)

Save on Mobile Bills

International roaming charges can be unexpectedly expensive. It can also have a massive impact on your travel budget. An ideal way to substitute them and save costs is by making business calls via the internet. Hotels and meeting venues usually provide free WiFi, thereby, further reducing or eliminating internet charges.

Here’s our recommended combination of apps:

  • Skype: Skype is one of the most popular apps for business communication over the past decade. In addition to having video calling as the primary feature, Skype also lets you share documents with other parties.
  • Google Hangouts: Organizations that use G-suite, show a higher inclination towards Google Hangouts. If you have a diverse set of clients, we recommend having the Google Hangouts app in addition to Skype.
  • Whatsapp: With Whatsapp video calling and voice calling features, it’s the best way to keep in touch with friends and family, even on-the-go.
  • WiFi Map: WiFi Map is designed to help you find the closest WiFi hotspot near you. (Looking for more options to get free WiFi? Here are a few other options to get free WiFi anywhere.)

Save on Hotel and Flight Bookings

Are you overshooting the travel budget assigned to you? A financially smart business traveler is an asset to any business because they are also aware of business costs. Are you getting the best deals? Are you paying a premium on services that don’t warrant the cost? There’s a  simple way to address these concerns – there’s an app for it, of course! Keep track of hotel and flight prices.

Here’s our recommended combination of apps/services:

  • Skyscanner: Skyscanner provides price comparisons for millions of flights, car hires, and hotels. This is an ideal app to help you save both time and money. We recommend having this app on your phone at all times to double-check on details before you make bookings.
  • Google Flights: Google lets you set a tracker on the flight you want. Additionally, it also notifies you of any changes in price. We only recommend this app, if you have a buffer time of over a month to book. It wouldn’t be as effective for last-minute bookings.
  • Roomer: Think cancellation charges are straight-up extortion? Roomer allows you to sell your unused bookings to help save on costs. Roomer is also a marketplace that lets you buy and sell non-refundable bookings.

Save on Airport Lounges

Business travelers often spend a disproportionate amount of time at airports. Some of the top reasons for this can be attributed to delays and changes in travel schedules. Make good use of your downtime by gaining access to airport lounge/services.

  • LoungeBuddy: LoungeBuddy provides complete access to all of the lounges in their network without dependencies on memberships, elite statuses, or first class tickets.
  • Priority Pass: Priority Pass is a service that gives you access to over 1200 airport lounges worldwide. It also gives you a choice of three membership plans to suit your particular traveling needs.
  • Credit Cards: Choosing the right credit card, depending on your requirements could also give you access to airport lounges across the world. Make the right choice with our guide to choosing the right credit card.

We hope these apps save you time and bring joy to your finance team!

Do you think these apps can help you gain the financial edge? Do you know of other apps, that make business travelers  financially smarter? Please do let us know in the comments below!

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