What is Dynamic Policy?
Dynamic Policy is a unique way to control your travel spend. For any hotel search, we look at all reasonable results and then our algorithm calculates a Median Price or the fair price for the search.
By adding a percentage on top of the Median Price, you can control when an Out of Policy warning is shown to your travelers. We recommend choosing 20%.
Best Practices for Setting Up Hotel Policy
- Default policy for Hotels:
- Maximum price per night: We recommend that you set this price to between $300 - $400 dollars per night. You are notified if anyone books a hotel above the amount set for the nightly price.
- Booking days before check-in: If a booking is made that is out of policy, it is not eligible to earn rewards. For this reason, we recommend leaving the lead time at 0 because your team will still be able to save the company money for last-minute bookings and be eligible to earn rewards while doing so.
- Cancellation policy: You can choose to set non-refundable rooms as out-of-policy by checking this box. We recommend leaving this ‘All rooms allowed.’ This is because free cancellation rooms are typically more expensive than non-refundable rooms so it may not lead to more savings in the long run if you mandate booking free cancellation rooms only.
- Approval flow: We recommend leaving this as Soft Out of Policy so traveler approvers are notified via email on out-of-policy bookings.
- Director Policy for Hotels: We recommend setting this based on your company culture and what type of freedoms the employees bucketed under ‘Director’ require. It has all the same options as above, but for a different policy group.
- Executive Policy for Hotels: We recommend setting this based on your company culture and what type of freedoms the employees bucketed under ‘Executive’ require. It has all the same options as above. Often, our customers leave the ‘Executive’ group at 0 to uncap the price threshold for Executive bookings.
- Hotel Location Specific Policies: This depends on where and how often you travel. Reach out to your CSM for customized recommendations.