Global business travel industry spending was expected to hit USD 1.7 trillion by 2022, and despite the crisis, business travel is bouncing back fast. It means many businesses are now looking for a TMC: Travel Management Company so that they’re as prepared as can be for when business travel returns to 100%.
A travel management company is essentially a travel agent or travel agency for corporate travel needs. As technology evolves, we’re beginning to see more personalized TMC solutions providing so much more than the ability to only book travel. Business travel programs need TMCs that are more tech-savvy than ever before.
Apps and SaaS are sweeping the corporate travel world. So, let’s explore what a future-savvy TMC solution can do for your business.
Why use a corporate travel management company
There are quite a few benefits to using a travel management company instead of keeping your efforts in-house. Ready to explore them?
1. Unlock efficiency and agility
On the whole, a TMC makes your entire travel booking process that much smoother for you and your travelers. That’s not only via the act of booking and organizing travel, but also the entire travel program itself, things like reporting, managing invoices and VAT, and tracking your staff.
It all becomes so much easier when you’re doing it through one platform that was built for this purpose—rather than never-ending excel sheets.
2. Work with experts in business travel
There comes a point in any business when it’s a wise decision to call in the experts. Working with travel experts gives you access to corporate rates, partnership perks, travel expenses benchmarking insights, expense reporting, and expert account management that could save your business a lot of money.
3. Receive 24/7 support
Booking via multiple platforms and providers may seem like a good idea at the time, but when it comes to customer support, being shipped between call centers is a frustrating process—and not what your travelers need if they’re stuck in an airport with a flight cancellation!
TMCs provide quality, rapid service to help you when you need it most. For example, the TravelPerk customer support team operates at a 15-second response time.
4. Get duty of care resources for business trips
Checking in with business travelers via email is simply not enough given recent events. Businesses need a better overview of their team members and have a duty of care like never before.
TMCs help with risk management and enable travel managers to keep tabs on every team member, no matter where they are in the world.
5. Cut travel costs & optimize travel spend
Of course, there’s an initial cost to onboarding a TMC or tool. However, the benefits massively outweigh them.
By working with a TMC, you’ll make drastic cost savings on flights, VAT reimbursement, corporate accommodation, events, group bookings, door-to-door travel; the list is long. In short, you maximize pre-established expertise and business partnership benefits that would take your business years to build.
6. Make data-driven decisions with real-time reporting
There’s no denying data, and your TMC has a wealth of it. Whether it’s a better overview of travel trends, access to global booking data, or your business’s specific data, your TMC has it all and can provide you with an overview of what you need.
You’ll be able to work with a TMC to find areas you can cut costs and optimize expense management or processes to deliver a smooth experience for employees, travel managers, and Finance.
7. Streamline an effective corporate travel policy
The last benefit to working with a TMC is travel policy maintenance, alignment, and compliance. For your travel program to scale, you need travel policies that are easily accessible, learnable and ones that people stick to. A TMC helps with it all.
Ready to level up your corporate travel program with a TMC?
TravelPerk is voted among one of the best travel management services on G2. It’s a logical step if you’ve been operating with a dysfunctional TMC for a while, or are looking for a TMC for the first time.
If you’re looking to be smarter with your business budgets, build a scalable travel management program and give your employees the travel experience they deserve, then find out where an online booking tool and travel management software like TravelPerk can take you.