Is A Travel Management Company Right for Your Business?
What Do Travel Management Companies Do?
Corporate TMCs are B2B operations that manage a company’s travel processes. While smaller travel agencies provide day-to-day services (flight and hotel bookings, vehicle rentals, etc.), a true travel management company (TMC) will start with a detailed strategy that meets corporate compliance standards. This strategy features layers of complexity.
For example, a TMC should begin with exploring the corporate culture and travel policy to identify where the areas of opportunity are. Is the policy outdated? Are there areas that could be tightened to increase savings? It’s important to start with the travelers and culture and shape policy and process around that. This may sound simplistic but the subject matter experts within the TMC understand just how many details come into play that a client may not even realize. Having the right TMC partner can mean the difference between happy, safe travelers and money saved, and time lost, savings lost, and irritated employees.
Below are some key things to look out for when shopping for a new TMC.
One-Stop-Shop for Managing Business Travel
Find a TMC that will provide you with a single, accessible platform to book travels for your employees. Through this portal, users can book flights, hotel accommodation, train tickets, car rentals, conference rooms, visa appointments and more. Adelman, as an example, has built our proprietary mobile application, Ava, to provide travelers with on place to book, track, measure and manage trips. We have even taken this one step further with predictive analytics to allow travelers to see the chances of cancellation or delay. This innovation gives travelers the power to be proactive and adjust their travel plans when needed.
Your travel agency will serve as a one-stop-shop for making travel arrangements. This makes it easier for management teams to maintain complete control of employee travel.
Able to Optimize Expenses and Negotiate Better Rates
Beyond ease of bookings, your TMC should also offer better booking choices. For example, Adelman sources and negotiates hotel rates both on our clients’ behalf as well as for our Adelman Hotel Collection.
Your TMC should also be able to analyze your company’s entire vendor catalogue to determine where consolidation would be beneficial or which markets and areas are in need of company-specific rates and discounts. This means that from a single mobile application or booking tool, business travelers in your company gain access to the best deals while planning their trip proposals.
Flexible and Open to Feedback
A ‘corporation’ is a complex entity, and no two are alike. Look for a TMC that will be able to tailor its services to the customer, no matter their demands.
This means having the ability to comprehend the scope of a job before engaging. It also means having the savvy to adapt services based on the landscape. A great TMC should be willing to grow and change alongside its clients.
Every business that employs a TMC should expect a crisp program that employs automation and technology to increase compliance all while improving the traveler experience.
When Should You Work with a TMC?
Knowing when to engage with a TMC depends entirely on your business. Generally speaking, there are a few common situations where clients will reach out for help:
- You are looking for someone who is dedicated to managing your growing corporate travel program
- You want to implement improved travel guidelines for your employees
- You need options to cut travel expenses in a hurry
- You need to ensure better compliance with company regulations for business travelers
Now you know what makes a great TMC and when you are going to need one for your business. Are you ready to get started? Contact Adelman Travel today to learn more about how we can help build a custom travel program.