Introducing Travel Management Companies: Streamlining Corporate Travel
With corporate travel ramping up as we enter 'post-pandemic' times and an increased return to travel, the greater the need for travel management solutions. If you've noticed the uptick in corporate travel within your own business, you understand just how complicated it can be for you or your employees to coordinate itineraries. That's where a travel management company, or TMC for short, can add great value to your business—regardless of size—and save you and your employees time, money and headaches.
What is a TMC and What Do They Do?
At the most basic level, a travel management company (TMC) is a travel agency that specialises in arranging corporate travel for businesses of all shapes, sizes and needs. TMCs can take care of all the details involved with business travel, including booking flights, handling hotel reservations, supporting with duty of care and looking after hire cars, among other services. Through advanced technology and online booking tools (OBT), travel management companies can help your employees find the best deals while also adhering to your company's corporate travel policy. TMCs can even help your business create a travel expense policy if you don't have one already.
Learn more about what softwares Travel management companies use here.
Is There a Difference Between an Online Booking Tool (OBT) and a Travel Management Company TMC?
Yes, there is a difference. An OBT allows employees to independently book and manage business travel, while a TMC provides comprehensive support and services for corporate travel, including finding the best rates, offering travel assistance, and integrating with travel policies.
BNW Travel offers the best of both worlds, with an OBT for self-service booking and full TMC services for expert support and cost savings. As a leading travel management company, BNW Travel is equipped to deliver a seamless travel experience for both employees and organizations.
Benefits of Partnering with a Travel Management Company (TMC)
As business travel continues to ramp up, partnering with a TMC can offer travel solutions for your employees while keeping the bottom line of your business goals top of mind. Some of the most significant benefits of utilising a TMC include:
- Streamlining the Travel Booking Process: A TMC's all-in-one platform automates different travel components—like lodging, flights, and ground transportation—making the booking process more efficient and easier to manage. This saves your employees valuable time and reduces the administrative burden on your organization.
- Data Gathering for Informed Decision-Making: TMCs offer real-time data gathering that can help analyze travel trends, assess risk management, and control budget spending. This data can help your organization make better, more educated business decisions, leading to more strategic and cost-effective travel management.
- 24/7 Travel Assistance: One of the biggest benefits of using a TMC is the assurance of reaching a travel consultant any time—day or night. Your employees enjoy one point of contact that is reachable through a variety of different channels, providing support in case of emergencies or travel disruptions.
- Enjoying Concierge Service Perks: TMCs elevate the traveler experience by handling the most minute details, from seat preferences to ensuring travel reward points are applied accordingly. This level of personalized service and attention to detail enhances the travel experience for your employees.
- Reducing Corporate Travel Costs: TMCs specialize in finding and negotiating the best travel deals with enterprise providers and partners. They have access to lower rates on flights, hotel rooms, and transportation, cutting down on overall business travel costs while still offering competitive name-brand selections.
- Providing Traveler Safety Assistance: Whether unexpected security concerns arise or travel regulations are updated at the last minute, TMCs keep travellers informed with real-time notifications. Duty of care and risk management are important considerations for any organization, and TMCs can assist with traveler safety.
- Integrating Corporate Travel Policy for Greater Compliance: TMCs bridge the gap between employee travel booking best practices and your company's corporate travel policy. TMCs can filter search results to ensure compliance with your business' travel policy guidelines, saving time and providing ease of use. Non-compliant itineraries can be flagged for further approval, ensuring adherence to company policies.
By partnering with a TMC, your organization can enjoy a more streamlined, cost-effective, and supportive travel management experience that benefits both your business and your employees.
BNW Travel: A Leader in Travel Management Solutions
TMCs like BNW Travel are experts in handling the ins and outs of corporate travel. They are equipped to handle everything from gathering all the necessary travel paperwork to providing live support during unforeseen circumstances—like missed flights—to notifying travellers of last-minute updates of travel regulations. With the backing of BNW Travel, your employees are supported at every stage of their travel, while helping your business save money and offering deeper travel insights
