Companies should re-negotiate their corporate travel rates with their business travel suppliers, including airlines, car hire companies and hotels as soon as possible, according to BCD Travel.
In an article in CFO Magazine, corporate travel management company, BCD Travel says companies have greater buying power due to a 15-20% decline in corporate travel across the board in 2009.
Last year, suppliers were very keen to retain as much corporate travel business as possible and they were more than willing to negotiate.
However, with an expected boost in corporate travel in 2010 due to greater business confidence, the negotiating climate may weaken over the next two quarters, so companies should look at re-negotiating their business travel deals as soon as possible.