Now that our key domestic vendors are showing compassion to this issue, it is important to ensure that your company is taking full advantage of this new flexibility to minimize expired credits.
The most important thing to consider when implementing your transferable credit policy is how the ticket was paid for, and who technically owns it. If the traveller purchased the ticket personally and has not been reimbursed due to not travelling it would not be appropriate to transfer it to someone else. However if the ticket was purchased on a corporate card then the credit is a resource available to be used by the company. The next question to consider is whether or not the travel budget is tracked by department and whether or not there will be implications for the accounting team if the credit is transferred to a traveller from a different department.
To decrease the likelihood of losing any value, open the policy as much as you are able to within the restrictions of your environment. Allow the credits to be used by the whole company. Or, allow them to be used by anyone within the department. It is possible to adjust the transferability throughout the life of the credit. For example, keep it within the department for the majority of the time (9 months) but open it up to the entire company within 3 months of expiry.
For more information on transferable credits and managing your transferable credit policy please reach out to your UNIGLOBE One Travel Client Solutions Manager.