The FINANCIAL -- New research by American Express Global Business Travel outlines gaps and opportunities for companies to strengthen managed travel programs by focusing on their travel and expense policies early this year.

According to  American Express Company, analyzing nearly 100 travel policies of global, multinational, and mid-sized companies, the research shows less than one third of these companies overall have updated their travel policies within the last year. This oversight can leave companies exposed to losing hard-earned corporate negotiated rates, and more importantly, may put travelers at unnecessary risk.

This new Best Practice Roadmap report on Travel Policy, produced by EXPERT INSIGHTS, shows many organizations still need to close the gap between their policy content and emerging industry trends.   

Only 12% addressed traveler security despite it being a critical issue for companies to consider as more and more employees embark on worldwide business travel.
   

80% did not address reimbursement of ancillary fees such as checked bags, reservation change fees, or other for-purchase services offered at hotels and car rentals.
   

Only 35% of smaller companies and large international organizations require an agency to book hotels, compared to 85% of global companies.
   

None of the travel policies addressed the use of mobile applications or even referenced tools they may have available for travelers to use on the road or when working remotely.
   

70% of companies do not provide specific guidelines to travelers on when it makes sense to book airfares through a non-preferred supplier if the ticket price is less expensive.

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