Why CFOs Are Looking at Business Travel Differently
Business travel was for years a cost of doing business. Flights, hotels, meals, transportation and event costs often were lumped into unavoidable business expenses. Now, however, CFOs are taking a far more strategic view of business travel. They enquire as to the purpose of the journey, not its cost. With companies moving to hybrid work, going global and collaborating digitally, every business trip is being weighed against concrete results. CFOs want to make sure travel supports revenue growth, client relationships, employee performance, or long-term business goals. This change has changed business travel from a standard cost to a strategic investment. Measuring the ROI The finance leaders are more thinking ROI . Rather than approving travel just because it has always been part of business operations, they require teams to demonstrate the business impact of every trip. Sales visits that lead to new contracts, customer meetings that strengthen long-term partnerships, supplier neg...