Shrink Your Corporate Travel Budget with Help from IDS
Travel costs are higher than they have been in years. Domestic airfare this summer is up 34% compared to summer 2019. International airfare is up 2.5%.
There are a couple reasons for this.
Travel Cost Factors
Jet fuel prices are higher than we’ve seen in years. Jet fuel has historically accounted for 15 to 30% of an airline’s operating expenses. When jet fuel prices are high, airlines have to charge more to turn a profit.
Travel prices are also high because summer is peak travel time. People are especially eager to travel after having been less able to do so the past two summers. More demand is leading to higher prices.
Airfare is only part of the issue. Hotel prices are up 36% this summer compared to last summer. Average rental car rates are up about 20% compared to January of this year.
Impact on Corporate Travel
Due to these factors, many organizations are left with little to no travel budget this year. This is especially critical for businesses in facilities management and real estate.
These groups need to see their properties to make decisions about maintenance, renovations, acquisitions, and more. Many are in search of answers when it comes to overcoming travel cost challenges.
How to Avoid Travel Costs
IDS is here to help. We provide organizations in facilities management, real estate, and construction with immersive visuals and data from their properties on a cloud-based platform.
Here’s how it works.
- Capture: Our field service team visits your sites, captures imagery and data, and uploads assets to the IDS Viewer. Our team uses drones, scanning technology, and high-definition cameras to capture this in a fraction of the time and cost of other options.
- Explore: From there, your team can access these assets at any time from anywhere to make decisions without having to leave the office. The IDS Viewer gives you first-person views of every property and lets you layer on mapping, plans, inspections, 360 photos and virtual tours, thermal imagery, and more.
- Inform: The IDS platform also makes it easy to create customizable reports to share with stakeholders. In a few clicks, you can export reports to give you and leadership everything needed to make informed decisions.
When you work with IDS, money spent on travel can now be used for other things, improving your bottom line as we move throughout the year. Partnering with us also allows your team to focus on more pressing tasks while images and data are gathered.
Contact IDS today to learn more.
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