While many business travelers and corporations feel that better airfares can be found online, the cost does not continually indicate value or total savings. In order to constantly decrease travel spend and enhance productivity, a managed travel program is required. A travel management company (TMC) can provide solutions that will enhance the management of a company’s travel program and allow corporations to attain greater service, expense savings, and maintain duty of care obligations.
Utilizing the expertise of a TMC can provide substantial process enhancement and savings, which allows companies to reduce one of the three largest controllable expenses. A corporation should, at a minimum, experience the following benefits after implementing a managed travel program:
- Generating return on investment. A TMC can obtain, observe, and examine travel expenditures in order to proficiently recognize and understand possible program savings.
- Developing a travel policy. Experts to guide corporations on optimizing policies to require use of the TMC and suppliers, and top methods to increase productivity, online booking tool adoption, and travelers’ reinforcement.
- Managing crisis. Duty of care compliance is one of the key values of a managed travel program. Partnering with a TMC will decrease risks for organizations and employees via traveler tracking tools, 24/7 crisis support, and effective communication.
- Leveraging preferred vendors. Through preferred partnerships and negotiated contracts, a company will see upfront savings. In addition, benchmarking assists with vendor negotiations to find suitable contract savings that meet the corporation’s requirements.
- Improving travel solutions. A managed travel program gives companies the ability to be informed on leading-edge tools, safety procedures, efficiency behaviors, and industry developments.
- Enhancing efficiencies. With a managed program, productivity is increased and a TMC can make recommendations to improve employees’ satisfaction and compliance to the program. Quality control systems search for preferred seating and flights, and lowest fares during pre- and post-ticketing.
- Consulting and account management. Dedicated and proactive professionals to pair each travel management aspect to achieve top client objectives and provide program optimization plans.
In addition to the company’s advantages of switching to a managed program, business travelers will have several improvements to the travel experience. These benefits include: knowledgeable travel professionals; 24/7 and emergency assistance; a more comfortable process with online booking and other solutions; and using profiles to automate relevant loyalty programs.
According to GBTA and other industry experts, a managed travel program should, at a minimum, provide a 10-12% savings of the total travel spend. Would you like to start addressing your company’s bottom line? For more information on getting started with implementing a managed travel program, click the link below to download our white paper.
Implementing a Managed Travel Program