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Innovative Travel Management Company

Benefits of TMCs for Corporate Travel

Differences Between a Corporate Travel Agent and a TMC?

Travel Agent vs TMC
Travel Agent vs TMC

In 2017, $1.33 trillion was spent on company travel globally. This year, the cost of business travel is expected to reach $1.7 trillion.

That is a lot of travel for businesses. Scheduling employee travel can be an extra job for many business owners that they don’t have the time for. That is why they usually look to hire either a corporate travel agent or a Travel Management Company (TMC).

You may be wondering, “What is the difference between a corporate travel agent and a travel management company?” We are here to fill you in.

Here, we will discuss the differences between corporate travel agents and travel management companies, business trip tips, and how to know whether a corporate travel agent or a TMC is right for your business.

What Is the Difference Between a Corporate Travel Agent and a TMC?

Because business travel is so prevalent right now, there are specific agencies that deal specifically with company travel. So how do you know whether to go through a TMC or agent?

There are several differences between a corporate travel agency and a TMC. Let’s take a look at some of them.

1. A travel agency is a general platform that can be used to book travel. However, a travel management company (TMC) works directly with businesses to streamline all aspects of their travels.

2. Oftentimes a travel management company will implement technology to help businesses with their travel goals and allow them to be able to track their travel. Also, this technology helps streamline travel booking to make it simple and easy for everyone.

3. Travel agencies may only be able to provide a limited amount of discounts and special rates, whereas TMCs usually have more access to discounted prices.

4. Travel management companies 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.

5. TMCs can offer customized reporting systems, unused ticket management, as well as booking systems that fit the need of the specific company.

While both can be helpful for business owners, a TMC may be the best bet for business trips.

Which Option Is Best for Your Company?

To determine whether a travel agency or a travel management company is the best option for your company, you will need to consider some of the following things:

How often do your employees travel?
If you have employees that travel often, then a travel management company may be in your best interest. Because they have options to pay per trip or pay monthly, you may end up saving money if you pay monthly rather than paying for each individual trip. Business travel costs can add up, but playing it smart with a TMC might help.

What sort of policies would you like to see enforced?
Travel has changed quite a bit in the wake of the pandemic. Safety and health standards have changed a lot. That being said, do you want to work with a company that will enforce those policies? A travel management company would be your best bet if so.

Do you need 24/7 duty of care solutions?
Because of the current state of the world, it may be necessary to alter your travel at the last minute. Travel management companies provide 24/7 services so that, if necessary, they can change your travel plans last minute.

Though it depends on your specific travel needs, a travel management company may be your answer to easy travel for your company.

Tips for Business Trips

If you are looking for ways to make your business trips easier, then check out these tips:

Integrate Comprehensive Technology to Keep Track of Travels

A key aspect of using a TMC like Telios Travel rather than a 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.

Ensure Employee Safety

While 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. That is why working with a travel management company like Telios Travel can be so helpful.

Find the Best Prices

Because corporate travel is so prevalent nowadays, it is crucial for companies to find the best prices. That is where a travel management company comes in. Because we work with leading vendors on the market, we can get the best discounts and prices around.

Make Sure to Cover the Extras

Be sure to cover parking, car services, airport lounges, etc. 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.

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Benefits of a TMC
Benefits of a Travel Management Company

Around 400 million Americans travel for business every year. Traveling for work has become the new norm.

Because many businesses require their employees to travel, several business owners are turning to Travel Management Companies, as travel agents are no longer the smart decision for individual travel.

So, what is a travel management company, also known as TMC, and why is it beneficial for business trips? We will take a look at travel management companies, including what they are, how they work, and how they can benefit your business.

What Is a TMC?

Though the name somewhat spells it out, you may be wondering, “What is a TMC?”. Travel management companies are, essentially, travel agencies that specialize in business trips.

Managed travel gives companies the peace of mind to send their employees on trips without worrying about moving pieces. The TMC will plan everything for you so that you don’t have to worry about taking the time to plan every detail of a business trip.

When you want to book a trip for your employees, using a TMC like Telios Travel can save you time and money. Let’s face it, planning a trip can be a daunting task for business owners, so allowing a third-party company to do it for you is the perfect solution.

Using a travel management company can also mean 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 their employees and the whole trip will be taken care of. They don’t have to busy themselves with the extra tasks of planning airfare or transportation, accommodations, food, etc.

A TMC like Telios provides corporate travel solutions catered to the needs of businesses and business trips.

The Role of a TMC in Corporate Travel Planning

A travel management company has different roles when it comes to booking business trips. These roles include:

Negotiating special rates for companies. A travel management company will often be able 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.
Supplying information for traveler safety. Travel management companies like Telios provide real-time communication and information for traveler safety during business trips.

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.

Implementing 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 a few of the crucial roles that a travel management company plays in corporate travel, and there are plenty more responsibilities they take on.

What Is the Cost of a TMC?

Different travel management companies do things differently. Some companies charge a fee per booking; others will charge a monthly or yearly fee. At Telios Travel, we have a simple pricing structure that will save companies 10 to 12% on average. You can contact our sales team to get a quote and find out what Telios Travel can do for your company. 

What Are the Benefits of Using a Travel Management Company?

There are several benefits of using a company like Telios that manages corporate travel programs for busy business owners. Let’s take a look at 5 of those benefits:

1. We are available 24/7. If you ever have any travel-related questions or something during a trip, a corporate travel agent can assist you, no matter the time. That is important because everyone knows that travel is not always between the working hours of 9 and 5. Sometimes things come up and having someone to help you can be highly beneficial.

2. We can help your business save some serious money. If you’ve ever traveled, you know that it’s not usually a cheap endeavor. That being said, using a TMC like Telios can save quite a bit of money. We have connections that you probably don’t, meaning that we can get better prices on travel. 

3. Travel management companies increase efficiency. A travel management company can streamline the entire process rather than sorting through airfares, accommodation prices, ground transportation, etc. We offer efficient online tools like SAP Concur to make the whole process of booking travel easier. We can also help with invoicing and reporting, making a business owner’s job much easier.

4. Availability of concierge services. When booking a 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. They are taken care of from the time they leave to the time they return.

5. Travel management companies like Telios offer phone apps to make your travel easy and seamless. Having access to a travel booking tool such as SAP Concur at your fingertips can make bookings for your company travels easy. Just open the app and select what you need.

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Why Should You Consider A Travel Management Company For Your Next Trip

Reasons to consider a TMC

With a 5.8% expected growth in travel between 2022 and 2032, traveling seems unhampered by the pandemic. The amount of travel will only go up from here.

If you or your organization has been thinking of traveling recently, you may want to hear about how a travel management company can help you.

The right travel management company will make your trips smoother, safer, and more cost-effective than ever before. Read more to find out how.

What Is a Travel Management Company?

Travel management companies (TMCs) are specialized travel agencies built to assist the travel plans of businesses and organizations.

The primary purpose of a TMC is organization. They will manage travel policy, bookings, vendors, and financial costs. TMCs will help maintain information so that managers and travelers alike can focus more on the trip itself.

While a travel agency will simply book clients on trips, a TMC will give you supervision for that trip. TMCs make any trip safer, more relaxed, and more organized than a travel agency.

What Does a Travel Management Company Do?

A TMC will work for you to take the burden off travel. If you’re on the management side of a business trip, it takes the burden off managing travel plans. Here are some other things that a TMC does:

Create and Manage Bookings

Like travel agencies, a TMC is able to create and manage bookings. Whether this is for flights, hotels, entertainment events, or otherwise is up to your discretion.

Unlike a travel agency, a TMC is able to do this at the most detailed level. They’ll find what works best for your requests and budgets. Every step of the process is marked down and documented for your benefit.

Find the Best Prices for You

A TMC will be able to find the best prices for bookings, tickets, and other parts of travel. TMCs work for your business, and thus are committed to finding or negotiating the best rates.

Reporting and Information

With many travelers to keep track of, it becomes very important to understand where each traveler is. In foreign countries or in unknown cities, this level of reporting becomes incredibly beneficial for travelers and their organizations.

While an online travel agency may offer some ways to give reports, a TMC is able to keep track of delayed flights, approximate locations, vendor credits, and spent finances.

Keeping track of such a large array of information, updated constantly, can become a hassle for any manager or traveler. TMCs can easily take this burden off their shoulders.

Safety Assurance

Though good practices can ensure safe travel, it’s never bad to be too safe. A rapidly-changing world can quickly jeopardize plans. COVID-19 is only a recent example of how deep this change can be.

TMCs can act as guardian angels for you and your organization. When disasters or disruptions occur, a TMC will find the best ways to notify and work with travelers. 

What Can a Travel Management Company Do for Your Business

What separates a TMC from other TMCs and travel agencies is its excellency in service. Whether you’re a business or a traveler, a TMC will tailor its services to you.

Excellent Negotiation

Negotiation allows for a solid yet lightweight travel budget. Travel tickets, group hotel stays, vendor plans, and many more budget items allow for negotiation.

A good TMC will negotiate on your behalf for a better or similar price to what you can negotiate for. Lowering the bottom line on business trips allows for them to become much more worthwhile, satisfying, and cost-effective.

Relationships with Vendors

By providing their analysis and expertise, a TMC will provide you with improvements to your relationship with vendors. They can trim existing plans, add to them, or maximize their efficiency. You get a better result for every dollar spent.

Guidance on Policies

An existing travel policy works well in any business, but can be influenced by many factors. Without proper clarity on this policy, it might lead to confusion amongst travelers or dangerous situations.

This is where the help of a TMC comes in once again. A TMC is able to analyze your company’s inner workings and needs to determine the best travel policy. With proven expertise, you can expect a TMC to give you an excellent, legible travel policy.

Efficiency

Every step of the travel process with a TMC is seamless. By improving processes, they’ll make sure that planning a trip is easy.

The right TMC is unnoticed by the traveler. No matter where they go in the world, they can always rely on the TMC to get them where they’re needed.

What Makes a Great Travel Management Company?

Travelers, travel managers, and finance managers alike all know how busy travel can get. This is why having a TMC makes such a great difference.

A great travel management company should be able to:

  1. Improve existing company travel plans
  2. Increase efficiency for future trips
  3. Report travel spend when requested
  4. Notify businesses and travelers of interruptions to trip plans.

It’s clear that when all the complicated aspects of travel are managed by a company you can trust, travel becomes much more stress-free. Travelers and managers alike can reap this benefit; the effects are seen immediately.

With business trips as important as they are, not having to worry about hotel reservations, dining plans, or the many other qualms of travel is incredible. A TMC allows travelers to truly focus on important matters.

A TMC gives you the true expertise to achieve this stress-free travel. It works with your business directly to give what’s needed when it’s needed. The same experience can’t be gained through work with a regular travel agency. 

Plan Your Next Trip

A travel management company is a clear choice for anyone who needs peace of mind when traveling.

If you’re a travel manager, a member of a company finance team, or a traveler looking to improve your experience, you might be interested in the services of Telios Travel. Contact us today to learn about how we can tailor a business trip for you.

Tips for Finding a Business Travel Agency

How to find a business travel management company
Tips For Finding A Business Travel Agency

Whether you’re traveling abroad for a few days or for an extended period of time, using a business travel agency to book a trip will make the entire process much easier. Unless you’ve personally been to the area before, you’re going in relatively blind. 

A travel management company will do all the work for you. They also have experience working with various aspects of hospitality in an area, so they know which options will give you the best deal and treatment. 

Here are eight tips on how to pick the best agency for your business travel. 

1. Shop Around

Never settle for the first business travel agency you come across. Every agency will claim to offer the best service and prices, so it’s your job to verify whether it’s true or not. 

There are many price comparison sites online that can help you find the best prices. Make sure to look at what 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. 

Some of the primary costs include airfare, lodging, ground transport, and your daily allowance for food. 

Of course, there are other considerations such as business dinners, special events, and unexpected expenses. Your budget may also differ based on your industry and the type of business you’re pursuing in the area. 

3. Consider What’s Included

One of the reasons people like to book all the different aspects of their trip is to have some control over their spending. It is true that those who take a DIY approach may spend less than those who stick to resort meals and drinks. However, those who plan to spend most of their time doing business don’t want to waste any of it visiting supermarkets or making their own meals. 

Your business travel agency can save you time and effort when organizing a trip for multiple employees. They also usually have connections with the hotel you’re staying at, allowing them to get special deals for their clients. 

4. Check Agency’s Qualifications

Technically speaking, a 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. 

With that said, there are some qualifications to keep an eye out for when looking for a travel management company.

For example, the Cruise Line International Association (CLIA) offers a certification program. The Travel Industry Council of Ontario (TICO) also helps regulate travel agencies and associated websites. 

5. Get Referrals From Friends

Online reviews are a great introduction to a company, but they aren’t always the most accurate measure. 

First of all, 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. 

Secondly, you never know when a company has paid people to leave false reviews that boost up their overall rating. It’s better if their website has a dedicated testimonial section to hold those reviews accountable.

As such, you’ll have a much better time if you get recommendations from business partners or friends. That way, you’re hearing from real people who you know and trust. 

6. Areas of Expertise

Not all travel agencies operate the same or have the same connections as one another. There are some agencies that focus solely on promoting travel to a particular country or region. You’ll also want to find a travel management company that can provide business travel accommodations rather than vacation packages. 

travel management company’s responsibilities include managing all of your corporate needs and your travel itineraries. They can arrange for suitable accommodation and transportation as well as organize meetings and events.

If an employee is traveling out of your primary country, then the agency should also provide them with a means of communication. Your employees should never feel disconnected or on their own. 

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 another pandemic. 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. 

As an employer, there are also some things you can do to protect your traveling employees

Update your travel policy and include a travel monitoring system. If they find themselves stranded, they should have a way to contact their employer. A comprehensive travel checklist can also help by listing out local health and safety information, as well as points of contact. 

Find a Business Travel Agency You Can Trust

By using a business travel agency, you’re putting your employee’s 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. 

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