Only one in ten SMES book travel efficiently
Only 11% of SMES act efficiently when making business travel booking according to research from Yougov and Laterooms.com Business. The study found just 4% of SMES surveyed mainly use a TMC when it comes to booking business trips. Instead they favour their employer footing the initial bill and then compensating their expenses, with more than 27% using this method.
The survey found an SME takes on average 88 minutes to plan and book a trip. Medium-sized enterprises waste an additional 12 minutes with trip bookings taking over 100 minutes. Additional findings showed that more than half (53%) of SMES felt that doing business and building relations was best achieved when done in person, which further increases the need for business travel.