How a Travel Management Company (TMC) Can Help Simplify Business Travel

For companies of all sizes, simplifying the complex, dynamic tasks related to business travel can be expensive and time-consuming. Using a travel management company can be an effective way to save resources, ensure policy compliance, and increase adherence to travel guidelines. 

What is a Travel Management Company (TMC) 

A travel management company handles corporate travel needs while specializing in business travel. 

How Do TMCs Operate? 

Travel management companies operate on the surface much like travel agents or travel agencies. They are equipped to handle all the components of a company’s business travel. 

A TMC handles all the details of managing a business trip and will create an itinerary and assist the traveller while they are on the road. 

The TMC assists with booking air travel, hotel reservations, car rentals, train reservations, and car service as needed throughout the entire trip. 

Using online booking tools and other technologies, travellers can enter preferences, frequent flyer/stay credentials, and other details to ease the management of travel. 

TMCs usually charge on a subscription basis or by charging a fee for the services used. In exchange, they manage all travel logistics, customer support, policy compliance and data collection. 

Cost Savings and Other Benefits to Working with a Travel Management Company 

There are considerable benefits to using a travel management company for business travel management services. Here is a look at some of the major TMC benefits: 

• Streamlined Processes. With a TMC, you can automate many of the processes used in business travel, resulting in more efficient operations, and time savings. Employees can save time searching for optimal flights or hotels, for example. 

• Better Data Gathering. With an integrated travel management solution, your company can gather, compile and report on travel information from a centralized location. This data can help business leaders analyse costs, set budgets, manage risk, and make policy adjustments as needed. 

• Travel Assistance When Needed. If a flight is cancelled late at night or there is a problem with a hotel reservation, the travel management company is there to resolve issues. A TMC typically provides 24/7 support for business travellers, who may feel better supported with a more streamlined experience. 

• Better Prices. Travel management companies typically can arrange for better prices for flights, hotels, and rental cars. With strong business relationships in place across airlines and travel chains, they can help locate travel deals and minimize time spent searching. 

• Advice and Insights. Staff at TMCs often have extensive experience working on business travel. They can be a valuable resource for travellers and managers, especially with complex travel itineraries. They can help provide better travel experiences and reduce travel costs, especially in industries with nuanced or specialized travel demands. 

• Alerts and Warnings. Travel today often is not easy. With the right TMC in place, you can be sure your business travellers are alerted to any delays, cancellations, or safety issues that arise while they are on the road. 

• Concierge Service. A travel management company provides concierge-level service, from the point of booking to the return home. With trusted, experienced staff, the TMC ensures that every convenience is provided and hassles are resolved promptly. 

• Newest Technology. Advances in technology are radically changing the travel industry. When you work with a travel management company, they will likely provide a list of top tools and apps to meet your business travel needs.  

• Policy Compliance. Your TMC can offer suggestions to increase policy compliance throughout the travel process, saving time and driving efficiency. 

More Visibility Into Travel Patterns 

A TMC can help you set up your travel program to give you more visibility into your travel patterns and can help you plan for the future. 

Business travel has evolved. Data-driven insights help you adjust your program and policies to meet the ever-evolving demands of travel today. 

With a strong TMC as your partner, you can gain insights into an entire industry and make smarter, better decisions. 

SAP Concur has a robust network of travel management company partners who can help businesses manage their travel programs. Learn more about travel management company partners or contact us today.