Companies can benefit from travel management companies for a variety of reasons. Some are obvious, while others are more easily missed. The following are nine of the most significant advantages of using a TMC company to manage your business travel strategy.
- Lower-Cost flights and hotels
While it is true that a TMC company will require payment for their services, often in the form of a fee for the services you use, the reality is that they can still save you a significant amount of money. This is especially true if you travel frequently or have employees who do.
A travel management company will have business connections throughout the travel industry, allowing them to negotiate favorable hotel rates. They also have the knowledge required to find cheap flights in the right location and book flights at the right time. As a result, overall travel expenses can be drastically reduced.
- Professional advice and insight
Any seasoned travel management company will be well-versed in the travel industry and will have picked up a few tips along the way. With this in mind, they will be able to provide expert advice on how to best spend your money, the best travel routes, and what you should know before visiting specific destinations.
In many cases, businesses will partner with a TMC firm that specializes in dealing with clients in their industry. Because some industries have very specific or nuanced travel needs, this can be extremely useful. Prior experience can assist the travel management company in optimizing your travel strategy and avoiding common pitfalls.
- 24/7 Support service
Another advantage of working with a travel management company is the availability of assistance. Most businesses will have this available around the clock, or close to it. This means that if something goes wrong, if you need to make a quick change, or if you require immediate advice, someone will be there to assist you.
You will have to handle any travel issues internally if you do not use a travel manager. This could imply that you have difficulty finding support outside of your core business hours, or that you are personally responsible for providing support for every corporate traveler in your organization, even if they require assistance at inconvenient times.
- Travel polices and reporting
Business travel should be as consistent as possible, but you must also keep travelers happy and safe. For these reasons, it is critical that you develop a travel policy. With a clearly defined policy in place, everyone knows where they stand, acceptable and unacceptable behaviors can be defined, and expense rules can be established.
When it comes to reporting your travel expenses, most travel management companies will consolidate information into a single report, assisting in gathering important information in one location. This makes it easier to keep track of your travel expenses and determine whether or not you are overspending in this area.
Aside from consolidating reporting in this manner, the best corporate travel management experts will go above and beyond, assisting you in analyzing the information in your reports so that you can make adjustments to your strategy.
- Travel monitoring
When it comes to business travel, many people put it off until the last minute. A travel management company, on the other hand, can actively monitor and manage any travel plans. One way this manifests itself is through the use of travel alerts or warning messages, which are sent to alert people about important information. This can include last minute flight, cancellation, and other amendments. On the other side, it can include also overviewing of safety hazards that should be acknowledged during the journey.
- Peace of mind
Travel management can be complicated, and it is all too easy to overlook something, whether it is sorting out visa requirements, ensuring business travelers have adequate medical coverage, or arranging airport transfers. The peace of mind that comes with working with a TMC company is a significant advantage.
Your chosen business travel agency will work with you to understand your requirements and then ensure that everything is in order. Their knowledge of the subject makes it far less likely that anything will be overlooked by mistake.
- More time for other tasks
Finally, one of the primary reasons why so many businesses turn to a travel management company is that it frees up more of their time, which can then be spent on other critical business tasks. Travel management is a multifaceted discipline, and it takes time to find the best flights, hotels, and arrange transfers.
A high-quality TMC company will not only be able to handle these responsibilities on your behalf, but they will also have existing business relationships with vendors, providing them with much faster access to the best possible rates.