Why Do Organizations Need A Travel Management Company?
By TOI Team September 5, 2023 Update on : September 5, 2023
Be honest with yourself now. Corporate travel can be stressful. But don’t let that stop you from providing your employees with the best travel experience possible. If you want to ensure your business travel runs smoothly and with the most visibility, you need the help of a travel management company(TMC).
Consider this: annually, companies take over 445 million business trips. Meanwhile, 12% of airline passengers are business travelers, but they produce 75% of profitability.
A TMC will ensure all your travel arrangements are smooth and your trips are successful. So, what services do they offer? Read on to learn all about it and why your business needs a travel management company.
What does a Travel Management Company do?
If you run a business, you will need a service provider to manage corporate trips, travel expenses, and unexpected problems that arise for your traveling employees. The bigger your business is, the more susceptible you are to fraud and inflated travel expenses. In such a situation, you need a skilled travel partner to provide you with their expert services.
A good travel management company (TMC), also known as a travel agency, can support business travel processes. It streamlines corporate travel management by managing all travel bookings for your business.
The travel company will use travel management software with an integrated travel management platform that includes a range of applications and tools. This travel management software tool will help your business prepare for travel, minimize stress and risk, streamline communication and coordination, optimize operations, and save time and money.
A reputable travel platform will also provide comprehensive coverage for your business, even in an emergency or worst-case scenario. Automating pre-travel and post-travel work will save your business time and money.
Reasons Organizations Need a Travel Management Company
Centralize All The Requirements For Business Travel
Travel management companies with expertise in corporate travel are known for their ability to save money on travel budgets. They usually do this by finding the best hotels and offering deals that fit your office culture and travel needs. They can also help you find the best flight times and give you more options for ground transportation. A travel agency can provide you with all your business travel needs tailored to your company policies. Additionally, they offer services with a set travel program and take advantage of vendor relationships to cut down on your travel expenses.
Travel Risk Management
Travel risk management will make sure businesses do their duty of care. By hiring a travel management service, you protect your team with a risk mitigation strategy to keep them safe while on the road. They will take all the necessary steps, like monitoring the weather and getting help in an emergency. Furthermore, they have the expertise to help you navigate health and security risks on your business trips.
Employee Travel Satisfaction
This point is very critical to your employee retention. Companies have a responsibility to their employees. It is your job to create a safe trip that does not turn out to be uncomfortable or inconvenient for their employees. Conversely, when you manage everything, the responsibility of employee satisfaction and expenses becomes daunting.
A corporate travel company keeps your employees comfortable 24/7. Whether with travel management software that makes it easy for your company to connect with your employees or through a well-planned itinerary that provides them convenience and ease of trip out-lay. A corporate travel company keeps your employees happy.
Adapting to Company Policies
When an employee works solely in your travel department, there is a high likelihood that they will be inclined to do favors for colleagues and friends. In a corporate setting, there needs to be more room to tailor the corporate travel policy to the preferences of your travelers. Comfort is critical, but the aim is to provide that convenience to your employee without worrying about the company policy.
Travel management software quickly adapts to your travel policy and lets you create a policy if your company does not have one. The system works like this: Deals and travel services are checked against your company travel policy and then sent for approval. Adapting to this work culture is relatively easy.
Efficiency and Time Management
Travelers and businesses need travel companies to manage travel needs quickly and efficiently. Planning a trip can take up a lot of your time. Businesses spend more time on tasks like making payments, reports, getting approvals, and making reimbursements. To save time on all these tasks, you can hire someone to take care of them.
When planning a trip that is a little more out of the ordinary, like a last-minute tour, you should hire someone to help you out. A travel agency can help you plan any trip quickly and efficiently.
Affordable Service Providers
A travel company can save you a ton of money. This factor holds if you travel a lot or with employees who travel a lot. A travel management company will also have a lot of business contacts in the travel industry. They can access high-end hotel rates, find cheap flights to the best destinations, or book flights at the right time when you need them the most. This skill can drastically reduce your travel expenses.
If your team makes the booking themselves, they might forget about tracking things like flight timings until it’s too late. However, with due diligence, the travel management company controls and monitors the schedule. Share information on travel alerts or urgent notifications, and focus attention on important information. For instance, if there’s an accident along your intended route, they will alert you and prepare you to be travel ready. A timely discovery of such information can also benefit you financially.
The Verdict: Choose a TMC That Blends Service With Technology
1.3 million Americans travel for work every day in the United States. Travel management is already challenging; you can’t afford to miss anything. Everything is critical to a successful trip. Ultimately, the main benefit of a travel management agency is the peace of mind that comes with it.
It’s a good idea to start by looking for an agency with credentials and a good track record of providing service excellence. You should also check if they can tailor their services to your company’s needs.
Don’t choose a travel management company that doesn’t offer you the best of both worlds: service and technology. With ITILITE, you can rely on expert service and powerful travel technology that makes your business travel seamless.Read more: Why Do Organizations Need A Travel Management Company?