How Travel Management Companies Benefit Your Business

In 2017, $1.33 trillion was spent on company travel globally. As travel spending returns to and even surpasses pre-pandemic levels, many businesses are experiencing the complexity.

Scheduling employee travel can be an extra job that many business owners simply don’t have the time for. That’s why many businesses benefit from hiring a corporate travel agent or a travel management company (TMC).

What is a Travel Management Company (TMC)?

With the prevalence of business travel in the modern market, specific agencies have developed that serve the express purpose of corporate travel. These often come in the shape of corporate travel agents or travel management companies, but there are some key differences between the two:

1. A travel agency is a general platform that can be used to book travel. However, a travel management company works directly with businesses to streamline all aspects of their travels.
2. A travel management company will frequently implement beneficial technology to help businesses with their travel goals and allow them to be able to track their travel. This technology aims to streamline travel booking to make it simple and easy for any user.
3. Corporate travel agencies are only able to provide a limited amount of discounts and special rates, whereas the secure business relationships travel management companies cultivate usually grant more access to discounted prices and customized benefits.
4. TMCs can often offer a broader set of services than corporate travel agencies. They can customize company travel for each individual company and can even integrate company policies into their packages.
5. With customized reporting systems, unused ticket management, and custom-built booking systems, TMCs can develop workflows that fit the specific needs of the company.

If you have employees that travel often, then a TMC may be in your best interest. Since they have a range of payment options allowing you to pay by trip or by the month, you may find a payment scheme that helps save money in the long term all while helping you manage your expenses through travel experts.

Benefits of Using a Travel Management Company to Plan Business Trips

If you are looking for ways to make your business trips easier, then using a travel management company is the best way to go. These are only a few of the many benefits:

TMCs Integrate Comprehensive Technology to Keep Track of Travels

A key aspect of using a TMC like Telios Travel over a corporate travel agency is that we incorporate technology such as SAP Concur into the travel planning process. By using comprehensive integration, you can keep track of reporting, invoices, unused tickets, company travel policies, and more.

TMCs Ensure Employee Safety

When employees travel across the nation and even abroad, it is essential that you do all you can to ensure their safety. Working with a travel management company can help because we are available 24/7 to answer questions, help with changing plans, and make sure everything is running smoothly. When employees are abroad, it is also vital to maintain clear communication with them.

TMCs Find the Best Prices

Because corporate travel is so prevalent nowadays, it is crucial for agents to find the best prices. That is where a travel management company benefits you the most. Because we work with leading vendors on the market, we support your company in securing the best corporate discounts possible.

TMCs Make Sure to Cover the Extras

Finding covered parking, car services, airport lounges, and other amenities can turn into a complicated task. Rather than worry about all of that yourself as a busy business owner, you can let a TMC like Telios cover it. We are responsible for all travel-related activities, so we can easily take care of all of these things for you.

Benefits of a TMC for a Business Owner

Around 400 million Americans travel for business every year, solidifying traveling for work as the new norm. Since many businesses require their employees to travel, many business owners are turning to travel management companies for their many benefits and special deals.

Investing in managed travel gives companies the peace of mind to send their employees on trips without worrying about all of the moving pieces. Using a travel management company benefits the owner and the employee with peace of mind, ensuring that your employees are safe while they travel. Adhering to business travel compliances is extremely important when dealing with company travel, and TMCs are usually well-versed in this area.

When using a TMC to book a trip, a business owner can relax as all of their employees’ needs during the trip will be taken care of. They don’t have to busy themselves with the extra tasks of planning airfare or rented transportation, lodging accommodations, or food, among many other incidentals that slip through the cracks in an internally managed trip.

The Role of a TMC in Corporate Travel Planning

A travel management company has different roles when it comes to booking business trips, each providing a unique benefit to the business owner. These roles include:

• A negotiator, finding special rates for companies. A travel management company has uniquely beneficial relationships with travel industry leaders that independent corporate agents can’t find, allowing TMCs to negotiate rates with hotels, car rentals, and airlines for corporate trips. Finding the cheapest option can be difficult for business owners, as it takes time and negotiation power. That is why using a TMC like Telios Travel can be advantageous.
• An informant, supplying information for traveler safety. Travel management companies like Telios provide real-time communication and information for traveler safety during business trips.
• A database manager, providing travel booking systems. A TMC like Telios Travel provides both online and call-in systems. Employees can book travel easily using the market leader T&E software, SAP Concur, or through experienced corporate travel agents. With this also comes the best prices available.
• A guidebook, implementing up-to-date business corporate travel policies. Business travel compliance is an essential part of traveling with a company. Enforcing company-wide policies when traveling is imperative to the safety and productivity of everyone involved. A TMC like Telios can help by providing this information to each individual and assisting travelers to comply.

These are just a few of the crucial roles that a travel management company plays in corporate travel, and there are plenty more beneficial roles they can fill.

What are the extra benefits of using a travel management company?

Aside from the planning benefits of using a travel management company, there are other incidental benefits that come your way:

• Increased efficiency. A travel management company can streamline the entire process rather than sorting through airfares, accommodation prices, and ground transportation. We can also help with invoicing and reporting, making a business owner’s job much easier.
• Concierge services. When booking company travel, car parking, airport lounges, and seat preferences are added factors. However, travel management companies like Telios can handle all of these so you don’t need to worry.
• Seamless travel. We’ll help train your employees to use phone apps for expense reporting and travel updates so accounting can keep pace with real-time changes.

Tips For Finding A Corporate Travel Agency

Vetting the many travel management companies can be difficult, with many benefits to compare and many policies to consider fitting into your business operations. Here are eight tips on how to pick the best agency for your business travel.

1. Shop Around

There are many price comparison sites online that can help you find the best prices on travel management companies. Make sure to look at what benefit packages they offer and whether or not there’s room for adjustment. Some travel agents can even shave some money off to match a competitor’s offering.

2. Set a Realistic Budget

How much you want to spend on a business trip should affect what kind of agency you choose. A three-day domestic trip may end up costing as little as $990. International trips cost an average of $2,600 per traveler. Primary costs typically include airfare, lodging, ground transport, and your daily food allowance. There may be other considerations. such as business dinners or special events to keep in mind as well.

3. Consider What’s Included

Your business travel agency can save you time and effort when organizing a trip for multiple employees by offering connections with the hotel you’re staying at, allowing them to get special deals on rentals, food, and lodging. The included amenities are a big part of the benefits of a travel management company.

4. Check Agency’s Qualifications

Technically speaking, a corporate travel agent does not require any kind of certification to work in their field. Although formal training is required, these training programs do not need to provide certification upon completion. Travel management companies offer the benefits of qualified staff who have gone through a certification program.

5. Get Referrals From Friends

Online reviews are a great introduction to a company, but they aren’t always the most accurate measure. Most people only leave reviews when they’ve had either an exceptional experience or a very bad one. It’s difficult to find truly honest ones that list pros alongside cons. Some companies will pay people to leave false reviews that boost their overall rating. If you get recommendations from business partners or friends, you’re hearing from real people who you know and trust, filtering out false information or padded reviews.

6. Areas of Expertise

Not all travel agencies operate the same way or have the same connections. Some agencies focus solely on promoting travel to a particular country or region, while others offer only business travel accommodations and no vacation packages. A good travel management company’s responsibilities should manage all of your corporate needs and your travel itineraries with any necessary benefits included.

7. Look for Flexible Booking Policies

Flexibility is important when booking a business trip. After all, you never know when something is going to get in the way like a hurricane or a change of date in a meeting. Your business should be able to cancel or reschedule with ease. Some travel agencies allow you to cancel up to a month in advance with a refund on your deposit. Others require you to cancel a couple of months in advance, or you lose your deposit. They should also let you change your trip online in the same time frame.

8. Good Communication

A good travel agent is there when you need them. Even with the best preparation, there may still be unexpected situations. Since you’re relying on a third party to book your trip, you want them to remain available for the entire trip.

Find a Business Travel Agency You Can Trust

By using a business travel agency, you’re putting your employees’ comfort and safety in another person’s hands. The last thing you want is to find out that they had a miserable time all because you trusted the wrong agency. Telios Travel provides world-class service for businesses that need to book travel wherever they need to go. We can monitor delays, get a global view of your employees, and help initiate and track communication with them. Contact us to learn more about our services and book a demo.