The Importance of Having a Travel Management Company
Corporate travel is big business. Companies on average spend about $30 million per year on travel expenses. Employers know that travel is incredibly important to achieve goals and cultivate relationships in an increasingly connected world.
This is where Travel Management Companies (TMCs) like TravelStore play a role; they are a great way for businesses to keep up with travel demands for their employees. A TMC is a travel agency that manages the business travel requirements as assigned by the company employing them. Their goals are to save companies time and money and keep their travelers safe.
When a company’s travel bookings are made with a travel agency on a managed platform, all travelers are accounted for and reservations can be tracked for safety. Companies want the process of booking travel to be quick and easy. When employees can book their travel efficiently, they can complete their essential tasks and responsibilities, which saves the employer money in overall productivity.
However, saving money is not often cited as the primary benefit of using a travel agency. Instead, the services themselves are the actual benefit. TMCs will manage unused tickets, obtain refunds, help with waivers, and keep track of membership programs and benefits.
Nevertheless, it is significant to note that TMCs save companies, on average,$5 million dollars a year. Travel Managers have longtime working relationships with preferred travel suppliers, which helps with contracts and discounts. TMCs book or manage travel, provide customer service, and more.
One of the most important services a TMC offers is data-reporting. TMCs are constantly collecting, tracking, and analyzing data. This helps in researching a company’s travel expenses and helps a company in smart-spending when it comes to business travel.
Some employees feel they can get a better deal searching for travel on their own. It is very important for companies to educate their employees on the benefits of using a TMC — including the duty of care provided — to understand the policies of their company, as well as how to use booking tools and their benefits which, of course, TMCs like TravelStore play a key role in doing.
In a globally integrated world, business travel is a necessity, and consequently, the benefits that TMCs provide continue to aid in the success and productivity of the companies that use them. TMCs can best assist with all travel arrangements and can guide companies in the best practices and how to manage travel spend most efficiently. This is how TMCs partner with company’s and play an important role in a company’s success.
Contact the experts at TravelStore to learn more about our business travel management services today!