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Travel and entertainment (T&E) is second only to payroll as the largest area of discretionary expense in a corporate budget. As travel costs continue to climb, this special report examines what CFOs and other finance managers can do to bring these expenditures back down to earth.
In ''Strategic Sourcing: New Leverage for Lower Travel Costs,'' assistant editor Jennifer Caplan examines how companies are aggregating their spending, rationalizing their supplier base, and negotiating contracts more aggressively, finally swinging the balance of power in their favor. Not easy, considering that the suppliers are skilled at creating complex pricing structures; as with many other areas of procurement, it's essential to have a thorough understanding of your company's travel requirements.
And in ''Travel Savings Start at Home,'' Caplan explains that while implementing a clear and consistent travel policy is a good first step, corporate cards and online booking tools are taking some companies even further. One company reports a saving of $300,000 over the past 18 months ''just from using online booking.''
Below, you'll find links to many more stories from CFO magazine and CFO.com - including a number of articles on keeping in touch without leaving the office.
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