When booked efficiently with the right business travel companies, every $1 spent on business travel arrangements could lead to an average revenue recuperation of $12.50. But the process of booking suitable flights and hotels without prices gouging your travel budget can be difficult to maintain unless you’re booking with a travel agent service that has exceptional experience and connections.
There’s also ground transportation, food, and client entertainment to consider as well.
Even when the trips are done, your financial team will have to gather the invoices and travel expense reports from various employees to quantify the return on investment.
So, where do people book business travel to make a suitable ROI?
Read on to learn how working with business travel companies might make corporate travel easier on your business and employees.
Where Do People Book Business Travel?
For a streamlined experience for all corporate travel, many companies opt to use a travel management company (TMC). Rather than booking a flight or hotel stay on their prospective websites and worrying about all other expenses on top of that, a TMC can make this process easy.
Whether you’re booking tickets to a conference or meeting up with potential clients to get a deal, business travel should be hassle-free.
Many businesses often use a corporate travel agent to deal with these issues, but what’s the difference between corporate travel agents and business travel companies like Telios Travel?
A Corporate Travel Agent
Corporate travel agents are general platforms used to book travel. They use standard technology for all bookings and offer only basic reports on the numbers spent on travel.
Essentially, they can do the bookings for you, but they don’t offer much else on top of that.
If you’re the owner of a smaller business with limited business travel, booking with a travel agent might be enough to take some of those responsibilities off your hands. But if your business requires a lot of travel for various employees, you might want a service that can offer you more.
A Travel Management Company (TMC)
Business travel companies offer plenty of benefits for companies needing a long-term fix for their business travel needs. They do more than just booking flights and stays, and could end up saving you money in the future.
Corporate travel management services work with your company to streamline all aspects of business-related travel. They have the technology to implement travel goals and track them, too.
This way, you can see your ROI in real-time numbers rather than estimating it.
Everything can be customized to your company’s needs: reports, individual employee needs, integrated company policies, etc. Whatever you need to optimize in the corporate travel area, business travel companies can help.
Additionally, TCMs have access to great discounts. It’s estimated that business travel costs will reach $1.7 trillion this year, as airlines and hotels are price gouging after the lack of revenue during 2020 and 2021. A TCM will ensure that you’re not being taken advantage of regarding these costs.
After the messiness of pandemic-related travel restrictions, we know the importance of travel flexibility. That’s why we at Telios Travel also offer 24/7 services that make it easy to change travel plans last-minute, with no additional cost. That’s just one of the many benefits you get from working with business travel companies.
Which Is Best for You?
It can be difficult to estimate what your company will require when it comes to corporate travel services. On one hand, you might just need basic booking with a travel agent. On the other, the possibility of knowing what your business travel ROI actually is may sound intriguing.
If you’re stuck between the two, consider the amount of traveling employees your company funds. Also, think about the average amount of trips they each take per month.
Also, take into account how you would be paying for a travel management service. Is it per trip or by month?
If you have a handful of employees taking multiple trips per month, then business travel companies that bill you monthly might end up saving you money. But if you have one or two employees that travel once or twice a month, then a corporate travel agent that bills per trip might be best.
Also, consider the consistency of business travel. If you have people traveling every week of the year, look into a TCM. But if your business travel needs are staggered and random, a corporate travel agent would be available on a need-based system.
Finding what’s right for your company will take time. But once you make the jump to hire business travel companies to handle all aspects of your company’s travel needs, you won’t look back!
For the Traveling Employees
If you’re one of the people who are flying from city to city for business, a TCM would benefit you too. While a TCM is more watchful of employees adhering to travel policies, that doesn’t mean you can’t enjoy your many trips around the world.
In fact, just like booking with a travel agent, a TCM still grants business travelers autonomy over their trips. You can still choose the best flights for your schedule and enjoy a well-maintained hotel and its perks.
What business travel companies do is make the booking of these trips easier while keeping you safe. For example, they don’t want employees worrying about getting from the airport to the hotel; therefore, they set up rides in advance to streamline your trip.
And while a TCM does follow common company policy, they work with the company and its employees to find a middle-ground. Sometimes a company doesn’t update their guidelines to adhere to this ever-changing world—if a TCM notices this oversight, they will point it out and offer a simple and safe solution.
Policies are in place for the safety of both the employees and the company. But they need to be realistic for those who must adhere to them.
Book a Consultation
As you can see, working with business travel companies is a sound strategy that can drastically improve your approach to corporate travel planning, especially if you’re still booking with a travel agent. Let us help. Contact us now to get started.