Business Travel Glossary2020-08-17T13:26:38+00:00

Business Travel Glossary

Learn some of the most important corporate travel terms with our business travel glossary

Advance Purchase Policy

What is an advance purchase policy? In the context of corporate travel, an advance purchase policy is often included in the general travel policy [...]

Airfare Price

Airfare price is the price paid for a route or combination of legs that make up a ticket. There are various things that affect [...]

Airfare price tracking

What is airfare price tracking? Airfare price tracking scans ticket prices for net reductions in price for flights that have already been booked, it [...]

Airline RFP

Many larger sized organizations spend millions of dollars with multiple airlines and therefore have an increased purchasing power to negotiate discounted rates for their [...]

Business Travel ERP

By definition, an ERP is an Enterprise Resource Planning tool which enables stakeholders to effectively record, manage and forecast resources for an organization. A [...]

Cabin Class Compliance

Cabin Class Compliance is a policy that states which the highest permitted travel class employees may book when they are traveling on company business. [...]

Corporate Travel Policy

A corporate travel policy is the set of rules and procedures that govern how employees should search, book, and gain approval while traveling on [...]

Duty of care

Duty of care in the context of business travel has two main dimensions covering both moral and legal obligations of employers to their traveling [...]

Dynamic Pricing

Dynamic pricing is the preferred pricing strategy for the travel industry. Revenue management professionals and complex machine learning systems set the pricing of airline [...]

Global Distribution System (GDS)

A Global Distribution System, or GDS, is a computer system that is used to manage bookings for flights, hotels, car rental and other travel [...]

Irregular Operations (IROPs)

IROPs as a contraction of the term IRegular OPerations, refer to unusual, unexpected, or extenuating circumstances in which a scheduled flight does not operate. [...]

Lowest Logical Fare

A corporate travel policy may stipulate that travelers must purchase what is called the 'lowest logical fare' to reduce unnecessary expenditure. It's often required [...]

Travel Disruption

Travel disruption is a catch-all term that covers one or a chain of events that impact your travel plans. In some cases, disruption can [...]