Last Updated on: March 7, 2023 at 9:24 am
With the rise of online booking tools, many people and organisations are finding it much easier to plan trips. So much so that it seems the days of using travel agencies are over. However, as many business leaders soon learn, the process of travel management is more than one team can handle.
The corporate travel industry is a big one, with a lot of moving parts. A considerable deal of on-the-ground logistics is involved, even though technology has made it easier for people to book trips online. However, beyond booking trips, travel planners also must coordinate expense reporting, event scheduling, risk management, insurance, and several other services.
Therefore, catering to the travel needs of the average company is not the job of just one team. This is where corporate travel management companies (TMCs) come in.
Most TMCs offer a platform useful to client companies’ travel management programmes. No matter the size of an organisation, if your employees need to travel to represent the company, at one point, you must consider hiring a corporate TMC.
Having a TMC comes with several advantages, including enhancing operational efficiency, reducing costs by eliminating waste, as well as ultimately boosting the company’s bottom line. If you have doubts about what TMCs do and how they can add value to your organisation, this article has been written to explain all about corporate travel management companies.
In this article, we'll take a look at:
Corporate travel management solutions are designed to automate the entire travel process. The system can be used internally or hosted remotely by a third party. TMS software allows users to incorporate their company’s travel policies, approve and reject business travel requests, create quotes, book travel reservations, track expenses, and manage travel spending. All of these are in one platform.
Travel management systems are most commonly used by large businesses with many employees who need to travel frequently. However, SMEs can also benefit from using this type of software. Regardless of company size, any organisation can supercharge their efficiency and even improve its bottom line by adopting a travel management solution.
A business trip involves a lot of preparation and coordination, which can be time-consuming and error-prone if there is no system in place. By consolidating all travel activities into one system, you can streamline your business processes, eliminate redundant efforts, and add new efficiencies that make everyone’s job easier.
Corporate travel management ensures that business travellers receive the support they need when planning their trips, whether it is booking flights, making hotel reservations, or obtaining visas. This allows employees to focus on their work rather than worrying about the logistics of their trip.
With the help of a professional travel manager, companies can optimise their travel spending and make sure that employees’ expenses are within budget. This also helps reduce unnecessary spending on flights and hotels.
Expense reports give an accurate picture of how much money is being spent by employees on business travel. This information can help businesses make better decisions about budgeting for future trips or sending employees on assignments.
Creating a travel policy for your business travel program ensures that everyone who travels on behalf of your company follows the same set of rules and regulations. The goal is to minimize risk while reducing costs associated with improper or unauthorized corporate travel policies. Corporate travel management allows companies to automate their travel policy by using pre-defined rules when booking flights or hotels so that employees don’t have to worry about following the company policy when booking their trips.
Event scheduling tools make it easy for corporate travellers to find hotels, choose meeting venues and make other arrangements when they arrive at their destination. This saves time, as well as helps reduce costs associated with making multiple phone calls or sending emails back and forth between departments.
Concierge services are available for booking flights, hotels and car hire through one interface. This saves time and effort as travellers do not have to visit multiple websites or call up different airlines to book tickets.
Effective travel risk management needs a tool that can identify travel risks beforehand and as it happens so that appropriate measures can be taken before it impacts your employees’ safety or productivity. Some TMCs offer travel risk insights to empower travel managers and business travellers with information.
Some TMCs now offer a feature that helps you monitor your carbon footprint, and help your company on kickstarting more sustainable travel programmes through carbon credits, removal and others. You can reduce it by opting for eco-friendly transportation such as buses or trains instead of air travel whenever possible.
Corporate travel management companies streamline travel reporting by consolidating data from multiple sources into one location for easy access by HR leaders and business owners alike. This helps them to make informed decisions about future spending plans regarding employee travel.
The biggest benefit of corporate travel management is that it gives companies control over their travel expenses. With corporate travel management software, your company can see exactly how much each employee has spent in real-time on each trip, so you can keep track of your budget with ease.
If your company uses third-party agents or other booking services, it’s important that these services integrate well with your company’s corporate travel management processes. This reduces errors and confusion across departments.
Corporate travel management companies portray customer service excellence because they usually have representatives on call 24/7 to assist with any issues that might arise before, during, and after trips.
A corporate travel management company can offer valuable advice on how to make the most out of your company’s travel budget. They have expertise in different areas such as hotel booking, flight scheduling and more.
Another benefit is that it guarantees employee safety because they will be travelling under the watchful eyes of an experienced team who knows how to avoid potential risks during their trip. Having a TMC makes the duty of care easier through their travel safety software solutions and real-time tracking.
A good corporate travel management company knows how to handle all kinds of situations when it comes to booking flights and hotels for their clients. They know how to handle cancellations and other problems arising during the booking process so that there are no surprises once travellers arrive at their destination.
See for yourself how TruTrip can help you achieve your business travel goals book a demo or sign up for free trial to get the best out of business trips. We’ll attend to the moving parts while your employees focus on work.
TruTrip streamlines booking, management, and reporting for hassle-free business trips.