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What is a travel management company (TMC)?

What is a travel management company and why should you use one? Learn about what a TMC is and how it can help your business.

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?

On the most basic level, a travel management company (TMC) is a travel agency that specializes 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 taking care of car rentals, 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. [1]

Is there a difference between an OBT and a TMC? [2]

Yes, there is a difference between an Online Booking Tool and a Travel Management Company. An online booking tool allows employees to track and manage their own business travel. Travel management companies offer more robust support on top of providing their own online booking tool. While OBTs allow your employees to individually search for their own corporate travel options and deals, TMCs typically offer support from experienced travel consultants who specialize in finding the best rates for business travel, while also allowing your employees the flexibility to choose their own flights, hotels, and car rentals .

TMCs like Egencia 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 travelers of last-minute updates of travel regulations. With the backing of a TMC, your employees are supported every step of their travel, while helping your business save money and offering deeper travel insights.

Are travel management companies and travel agencies the same thing? [3]

No. Travel Management Companies and Travel Agencies are not the same thing, although they may share some similarities. While travel agencies can help clients book corporate travel, and occasionally offer lower rates through a limited number of vendors, TMCs focus on exclusively servicing businesses, helping create and adhere to a company’s corporate travel programs, and finding the best rates for maximum savings .

TMCs also provide a wider array of services than traditional travel agencies, like centralization and automation of the travel booking process, data-reporting options, and travel policy creation. Additionally, TMCs have cultivated years-long relationships with vendors and can negotiate lower fares for maximum savings.

7 benefits of using a travel management company

As business travel continues to ramp up, TMCs 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 utilizing a TMC include:

1. TMCs help streamline your travel booking process

By automating the different travel components like lodging, flights, and ground transportation into one online booking platform, it allows the booking process to become more efficient and easier to manage and saves your employees valuable time.

2. Makes it easier to gather data for more informed decision-making

Through partner integrations and APIs, TMCs can offer real-time data gathering that can help analyze travel trends, assess risk management, as well as control budget spending . In turn, this data can help your organization make better, more educated business decisions.

3. TMCs provide travel assistance 24/7

One of the biggest benefits of using a TMC is that you can rely on reaching a travel consultant any time—day or night. Instead of having to keep track of several different vendors, your employees enjoy one point of contact that is reachable through a variety of different channels.

4. Enjoy the perks of concierge service

From handling the most minute details that can range from seat preferences to making sure travel reward points are applied accordingly and everything in between, TMCs elevate the traveler experience of your employees by taking care of all their travel needs.

5. Can help reduce corporate travel costs

Because 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.

6. Provide traveler safety assistance

Whether unexpected security concerns arise, or travel regulations are updated at the last minute, TMCs keep travelers informed with real-time notifications.

7. Integrate your company’s corporate travel policy for greater compliance

TMCs bridge the gap between employee travel booking best practices and your company’s corporate travel policy . A TMC can filter an employee’s search results to be automatically compliant to your business’ travel policy guidelines, saving them time and providing ease of use. If for whatever reason an itinerary isn’t compliant, it’ll get flagged for further approval.

Choosing a TMC that’s right for your business

While there are a number of different travel management companies to choose from, the right TMC will depend on your business needs and goals. Some must-haves to take into consideration as you shop for a TMC to partner with include: [4]

• Responsiveness
• Comprehensiveness

Choose a TMC that is aligned with your company’s culture . Since you’ll work closely with them to create and organize your employee’s corporate travel, they should align with and uphold your company’s values.

Egencia provides you with corporate travel solutions

Whether you’re just starting a new corporate travel program or are looking to make yours more robust, Egencia provides modern travel management with a single, global, highly configurable platform. You’ll have the power to build integrations that help you automate, connect and simplify your travel and expense management. From small and medium-sized businesses to global corporations, we connect you to over 290 global airlines and 650,000 lodging properties.

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Request a demo to see what we can do for you.

[1] https://www.cbtravel.com/difference-between-travel-management-company-and-travel-agency/

[2] https://www.travelperk.com/blog/best-business-travel-management-companies/

[3] https://www.cbtravel.com/difference-between-travel-management-company-and-travel-agency/

[4] https://jtbbusinesstravel.com/how-to-choose-a-travel-management-company/

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What is a travel management company, how do travel management companies work, is a travel management company the same thing as a travel management agency, 8 reasons why organizations use a corporate travel management company, 1. they increase efficiency, 2. they provide 24/7 assistance, 3. they offer concierge services to organize the important extras, 4. they deliver excellent duty of care solutions, 5. they deliver excellent duty of care solutions, 6.  they help businesses reduce travel costs, travelperk is the all-in-one business travel platform that saves you time and money., 7. they offer greater visibility through real-time travel reports, 8. they can integrate corporate travel policies for greater compliance, what's the difference between traditional tmcs and travelperk.

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What is a TMC (Travel Management Company)?

June 19, 2019

by Rob Browne

Business travel is a trillion dollar industry. With all of the money that is spent on travel every year, it can be a lot for large companies to handle managing all of the trips that their employees take.

Enter the travel management company, or TMC, which can be hired to direct your company’s corporate travel needs.

What is a TMC?

A TMC, or travel management company, provides solutions for the travel needs of a business. It provides the ability to book travel with special rates, can be adjusted to a specific travel policy, and provides duty of care support for travelers.

TMC basics: how it functions, how much it costs & how to find the best one for your company

We’ll go over the basics of what a travel management company does for your company’s business travel , how much it costs, and how to find the TMC that best fits your company.

The role of a TMC in company travel

In managing a company’s travel needs via travel management tools , a TMC will be able to blend the specific travel policies of individual companies with the best available fares and rates on the market. It also can be used as a corporate compliance tool. There are four ways a TMC functions to manage corporate travel.

Enforces a corporate travel policy

Any company that has employees who travel for work needs to employ some kind of company-wide policy to ensure that employees comply with basic standards. These standards can include a specific fare class on flights, a star class for hotels, and a class of rental car.

A TMC helps enforce this policy through guiding travelers to options that are compliant. Often times, a TMC will only display options for travelers to book that are within their company policy. Using a TMC ensures that employees adhere to your company’s travel policy without having to spend extra time and effort to track travel compliance.

Provides systems on which to book travel

A TMC importantly provides both online and call-in systems in which employees can book travel. Online end-to-end booking is a necessity in 2019, especially because to eliminate hassle, booking business travel should be equivalent to booking any sort of personal travel outside of a TMC.

Where a TMC differs in how it provides systems for booking is that you can ensure that it is giving travelers the best rates possible. There are no hidden tricks or gamification strategies involved in booking with a TMC. It is a consistent, reliable platform on which your company receives the best rates regardless of when employees are booking.

Negotiates contracts with vendors for special rates

A key benefit of TMC use is that it can occasionally provide special corporate rates from hotel and car rental vendors for your business trips. These rates eliminate the need for extra work on the part of your travelers, as they have only one place to go for the best rates.

Any online travel site can offer a good sale once in a while, but using a TMC guarantees that you have certified travel professionals in your corner finding you the best options for your bookings.

Provides duty of care support

One of the biggest stressors for travel managers and those pegged with leading a travel program at a company is the safety and security of business travelers. TMCs contain duty of care features that provide real-time communication and information for the safety of travelers in new or unfamiliar destinations. Enlisting the help of a TMC takes the stress off of worrying about employees’ health and safety when they travel for work.

How much does a TMC cost?

TMCs can be priced either based on a fee per travel itinerary or on a monthly or yearly subscription basis. The exact cost will of course depend on the size and geographic scope of your company’s travel needs. TMCs charge fees just as airlines and hotels do when you book directly through them. You’ll also need to take into account that through the special rates they’re able to locate, TMCs find your travelers better fares on average than they would typically find themselves.

It’s hard to estimate an average cost of a TMC because of how dynamic the scopes of different travel programs could be in comparison to each other, but a rough estimate of the cost of a TMC per itinerary booked is $14. Whether you view the trade-offs of sometimes lower fares as valuable for your company is of course up to your discretion. However, most industry leaders suggest that the usefulness of using a TMC exceeds the hassle and potential wasted time and costs of managing your company’s travel autonomously.

Finding the right TMC

Selecting the right TMC for your business should begin not with the TMC itself but your own individual travel policy. Setting out a clear travel policy ensures that the TMC you choose aligns with the exact needs of your company. You should also consider where most of your company’s travel is regionally and what kind of budget your employees have on these trips.

Your industry and size should also dictate the type of TMC you search for. If you are a large company that puts on events and will consistently be on the road, you’ll need a TMC equipped to secure a large number of bookings and adapt to sudden changes in itineraries.

A final key component to finding the right TMC is to make sure that they’re a good cultural fit for your company. They’ll be working closely with your employees and contributing to how their time is spent on the road. If your company values work-life balance or the ability for travelers to have flexible schedules when traveling, you’ll want a TMC that can deliver on that culture.

A live look at the G2 Grid® for this category shows the different travel management products available based on real-time, validated user reviews.

Travel management companies help your business book travel for employees, encourage employee compliance to your corporate travel policy, and ensure the safety and security of business travelers. Although they can come at a steep price, many corporate travel departments view the use of a TMC as worth the money for making sure that business travelers are booking reliable fares and conducting their business on the road in ways that reflect company culture.

Looking for more information on corporate travel? Check out the best travel management software .

Rob is a former content associate at G2. Originally from New Jersey, he previously worked at an NYC-based business travel startup. (he/him/his)

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What is a Travel Management Company? TMC Explained

If you’re a business owner or manager, you know how important it is to keep your team productive and your expenses under control. Without knowing fully what is a travel management company and the services offered by these companies it can be impossible to fully streamline your is business travel operations and manage your expenses. That’s where a tmc comes in.

Generally, a tmc provides a range of services that can help your business save time and money. They can help you create a travel policy on your first business travel that fits your needs, book flights, hotels, and rental cars, and provide 24/7 support to your employees while on the road.

What is a Travel Management Company?

A travel management company (TMC) is a professional service provider that specialises in managing all aspects of corporate travel, from booking flights and hotels to arranging ground transportation and managing expenses.

The best travel management agencies help businesses of all sizes and types to streamline their travel processes, reduce costs, and ensure the safety and well-being of their employees while on the road.

Major Role of a Travel Management Company

The role of a TMC is to act as a one-stop shop for all of your travel needs. They work closely with your company to understand your specific requirements, and corporate travel and expense policies , and then use their expertise and industry connections to find the best deals and options for your business.

This includes negotiating special rates with airlines, hotels, and car rental companies, which can result in significant cost savings on business travel for your company.

In addition to managing your travel bookings, TMCs also provide a range of value-added services to help you optimize your travel program. This includes providing detailed reporting and analytics on your travel spending.

This helps you to identify areas where you can save money, and provide duty of care support to ensure the safety and well-being of your employees while on the road.

Overall, the role of a TMC is to simplify and streamline your travel program, so you can focus on running your business. By partnering with a TMC, you can benefit from their expertise, industry connections, and technology solutions to optimize your travel program and achieve your business goals.

Core Services Provided by Travel Management Companies

Here are some of the core services provided by TMCs:

Travel Booking and Reservations

One of the primary services provided by these companies is travel booking and reservations. TMCs have access to a wide range of travel options, including flights, hotels/serviced apartments, car rentals, and more.

The top corporate travel management companies can help you find the best deals and ensure that your travel arrangements meet your specific needs.

TMCs can also provide 24/7 support for travel emergencies. If you encounter any issues while travelling, you can contact your TMC for assistance.

Travel Policy Development and Compliance

TMCs can help you develop and implement a travel policy that meets your business needs and complies with any relevant regulations. They can guide you on issues such as travel expenses, travel safety, and more.

By working with a TMC, you can ensure that your travel policy is up-to-date and that your employees are following it. This can help you control costs and reduce the risk of travel-related incidents.

Expense Management and Reporting

Another key service provided is expense management and reporting. TMCs can help you track your travel expenses and provide detailed reports on your travel spending.

This can help you identify areas where you can save money on travel and ensure that your travel expenses are within budget. They can also help you streamline your expense reporting process, making it easier for you to manage your travel expenses.

Benefits of Using a Travel Management Company

Here are some key advantages of using a TMC:

Cost Savings and Budget Optimisation

One of the most significant benefits of using a TMC is the potential for cost savings and budget optimisation. TMCs have access to negotiated rates and discounts with airlines, hotels, and car rental companies.

They can also help you find the most cost-effective options for your travel needs.

In addition, TMCs can provide detailed reporting and analysis of your travel expenses, allowing you to identify areas where you can cut costs and optimise your travel budget.

Streamlined Travel Processes

Another advantage of using a TMC is the streamlined travel processes they offer. TMCs provide a one-stop-shop for all your travel needs, from booking flights and hotels to arranging ground transportation and managing travel itineraries.

By automating different travel components into one online booking platform, TMCs make the booking process more efficient and easier to manage.

This saves your employees valuable time and allows them to focus on their core responsibilities.

Enhanced Duty of Care

TMCs can also help you ensure the safety and well-being of your employees while they are travelling. TMCs provide 24/7 assistance, so your employees can get help with any travel-related issues or emergencies at any time.

In addition, TMCs can help you stay up-to-date with travel advisories and alerts, so you can make informed decisions about your travel plans.

This can help you mitigate potential risks and ensure the safety of your employees while they are on the road.

Choosing the Right Travel Management Company

Here are some factors to consider:

Assessment of Needs

Before selecting a TMC, you need to assess your business travel needs. Consider factors such as the number of employees who travel, the frequency of travel, and the destinations they visit.

You may also want to consider your company’s travel policy and budget. Knowing your needs will help you find a TMC that can meet them.

Service and Support Evaluation

The quality of service and support provided by a TMC is crucial. Look for a TMC that offers 24/7 customer support and has a dedicated account manager for your business.

You should also consider the TMC’s experience in your industry and their reputation for customer service. Reading reviews and testimonials from other clients can give you an idea of their level of service.

Technology and Integration Capabilities

A good TMC should have technology that integrates with your company’s booking and expense systems. Look for one that offers a user-friendly online booking platform and mobile app.

The TMC should also have the ability to track and report on travel expenses and provide insights into your company’s travel spending. Integration with your company’s travel policy and approval process is also important.

Trends and Future of Travel Management

As technology advances and travel becomes more accessible, the role of travel management companies is evolving too. Here are some trends and predictions for the future of travel management:

Increased Use of Technology

TMCs are becoming more tech-savvy, with many offering online booking tools and mobile apps to make travel planning more convenient.

This trend is expected to continue, with TMCs investing in artificial intelligence and machine learning to provide more personalised and efficient travel solutions.

Greater Focus on Sustainability

Sustainability is becoming increasingly important to businesses and travellers alike, and TMCs are responding by offering more eco-friendly and sustainable travel options.

This includes promoting public transport, offering carbon offsetting schemes, and partnering with hotels and airlines that prioritise sustainability.

Emphasis on Duty of Care

As the world becomes more unpredictable, duty of care is becoming a top priority for businesses.

TMCs are responding by offering enhanced safety and security measures, including real-time travel alerts, 24/7 support, and risk management services.

Rise of Bleisure Travel

Bleisure travel, or combining business and leisure travel, is becoming more popular among employees.

Travel management companies are responding by offering more flexible travel options, such as extending business trips to include weekends or offering personalised travel itineraries that include leisure activities.

Key Takeaways

• A travel management company (TMC) specialises in managing corporate travel for businesses of all sizes.
• TMCs provide a range of services that can help your business save time and money, including creating a travel policy, booking travel, and providing 24/7 support.
• Using a TMC can help you track your travel expenses and make informed decisions about your travel budget.

What services do travel management companies typically provide?

Travel management companies (TMCs) offer a range of services to help businesses manage their travel needs. Some of the most common services offered by TMCs include:

• Booking flights, hotels, and rental cars
• Providing 24/7 support for travellers
• Managing travel expenses and invoicing
• Developing travel policies and procedures
• Providing travel risk management services

How do travel management companies differ from traditional travel agencies?

While traditional travel agencies focus on leisure travel, TMCs specialise in managing business travel. Usually offer a range of services that are tailored to the needs of corporate travellers, including travel policy development, traveller tracking, and expense management. Additionally, TMCs often have access to special rates and discounts that are not available to the general public.

How does a tmc contribute to corporate travel efficiency?

By working with a TMC, businesses can ensure that their travel policies are being followed, expenses are being managed efficiently, and travellers are receiving the support they need while on the road. This can help businesses to reduce travel costs and increase efficiency.

What are the key components of the travel management process?

The travel management process typically includes the following components:

• Travel policy development: Develop a travel policy that outlines the company’s travel guidelines and procedures.
• Travel booking: Booking flights, hotels, and rental cars for travellers.
• Traveller support: Providing support to travellers throughout their trip, including 24/7 support and assistance with travel disruptions.
• Expense management: Managing travel expenses and invoicing.
• Travel risk management: Implementing measures to ensure the safety and security of travellers, including risk assessments and traveller tracking.

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What is a Travel Management Company?

The definition of a travel management company (tmc).

A Travel Management Company (TMC) is a travel agent that fully manages the business travel requirements delegated by an individual, company or organisation to fundamentally save clients both time and money.

A TMC is also commonly known as a business travel agency or corporate travel provider.

As opposed to the traditional travel agent, which will usually deal with occasional leisure travel needs, a travel management company provides on-going services with the aim of providing cost savings, keeping control of a travel policy and allowing the client to spend less time on time-consuming travel arrangements.

A travel management company will typically use a GDS (Global Distribution System like Sabre or Amadeus) displaying real time availability to book flights, hotels and cars as well as other trusted software systems like Evolvi for train bookings.

Services Provided by a Travel Management Company

As well as simply making flight or hotel reservations, the TMC will offer many other ancillary services such as aircraft charter, airport lounges, parking and transfers, hotel bed requests, car hire, chauffeurs, foreign exchange, group travel, hotel bill backs, insurance, leisure travel, marine travel, meal requests, meet and greets, passport and visa procurement, rail tickets, roadshow services and venue sourcing.

Company and individual profiles are safely stored ensuring all personal travel requests are adhered to within an overall travel policy with every booking.

Other management services will often include MIS reporting, account management, risk management, cost/expense management, traveller tracking/security and travel policy adherence. Many TMCs will now also provide online self-booking tools whereby organisations can make their own flight and hotel reservations and bookings. Travel management companies will also typically negotiate with vendors/suppliers to provide discounted fares and loyalty programs.

Credit and Specialities

Credit Facilities are usually not provided in the first 6-12 months however a travel management company should be able to advise a new client about external credit facilities, for example the BA Lodged Card. Some TMCs will specialise in working alongside charity or providing marine travel services.

What Does a Travel Management Company do?

A travel management company (TMC) is a travel agency that provides extensive business travel support to organizations of all sizes. A TMC can simplify your workload, help you manage travel risks, reduce travel spend, serve your travelers, and provide integrated and centralized data reporting.

1. Simplifies and Streamlines Your Workload

Corporate travel management is complex. As a travel manager, you are often juggling a lot of different tasks within your company. Trying to keep track of employee travel preferences, travel plans, unused tickets, and more can be a daunting task. Travel management companies streamline your processes and support your business travel program through service and technology.

Christopherson Business Travel understands that technology is key to simplifying your workload. That’s why we built our AirPortal software platform. AirPortal provides customized dashboards for both travel managers and travelers with access to all the tools each stakeholder needs to manage the travel program and their business travel, respectively. This suite of tools within AirPortal streamlines the ability to manage risk, spend, profiles, travel plans, unused tickets, booking options, and more.

Each traveler is able to create a unique profile within our travel management platform that securely stores their travel preferences and loyalty program information. These profile details are fully integrated to ensure ease and convenience at the time of booking. When working with a TMC, travelers are able to book travel online or with an expert travel agent, based on your unique service needs. Your company travel policy is also custom-built and integrated to ensure all bookings are compliant.

AirPortal uses artificial intelligence to show the user what’s most important. On both the travel manager and traveler dashboards, AirPortal provides My Action Items, a feature that lists pressing or time-sensitive tasks and reminders so you always know what’s most important today. For example, if a traveler books their flight and rental car, but not a hotel reservation, a line will populate in their My Action Items alerting them of this gap in their travel plans. Or maybe a travel manager missed a travel approval request. This too will appear in the My Action Items feature of their dashboard, along with any other pressing tasks.

Some travel management companies like Christopherson also integrate their travel management software directly into valuable benchmarking tools, preferred booking tools, and your HR feed. Facilitating these integrations allows you to access everything you need from one centralized location, saving travelers and travel managers time, and ultimately money.

Providing guidance through account management is another way a travel management company can streamline and focus your travel program toward reaching your goals. Account managers should work with you to carefully analyze your program to see where you’re succeeding and where the gaps are. Based on that analysis, they should then provide a custom travel management plan to help you know where improvements can be made. This kind of consultative account management allows travel managers to lean on the expertise of seasoned industry professionals

2. Helps You Manage Risk

Duty of Care is the legal and moral responsibility each organization has to keep its employees safe from threats. Such threats could include extreme weather or natural disasters, political strikes and civil unrest, car accidents, theft, personal attacks, or terrorism—the list goes on. As a travel manager, how do you maintain confidence that you are upholding your obligation to protect and care for your travelers?

A travel management company can help expedite your knowledge of threatening situations in areas where you have travelers and facilitate your response and/or assistance. At Christopherson Business Travel, our clients utilize our SecurityLogic tool to access critical, real-time security data, quickly locate travelers and verify traveler safety.

In a recent study, only half of the travel managers surveyed felt confident that they could locate their travelers within two hours of an emergency. If your travelers’ plans are not stored, managed, or accessible from one centralized location, trying to locate employees during a crisis could be a messy and stressful task, not to mention potentially disastrous.

SecurityLogic provides travel managers with a real-time list of who is currently traveling and where those travelers are. SecurityLogic also allows you to quickly see if your travelers are in or are going to be in an affected area.

Travel alerts inform you of events that could impact employee travel or compromise their safety. Travel managers have the option to click through to the news source to get even more information. For extra security, you can set up auto-alerts that push directly to travelers via text and email to verify safety.

Click here to see a quick video tutorial on SecurityLogic.

3. Reduces Your Travel Costs

Partnering with a corporate travel management company can significantly reduce your overall travel costs. TMCs have expert knowledge in all aspects of the travel industry, including contract negotiations. Your account manager should be able to negotiate with your preferred vendors to ensure you are paying the lowest amount possible.

Business travel plans often change or get canceled. Did you know that nearly 10% of all business travel airline tickets go unused? As a travel manager, how do you ensure those funds from unused airline tickets are used before they expire? Keeping track of all the changes in your traveler’s plans could be a fulltime job in and of itself.

Travel Management Companies should ensure your unused tickets don’t impact your bottom line. Christopherson’s AirBank tool, found within AirPortal, captures those unused airline tickets and prevents the loss of those funds by prompting their reuse at the time of booking, whether online or with a full-service advisor.

Working with a business travel agency also ensures employees are booking within your company travel policy. By booking within policy, you can take advantage of your corporate rates, ensure you aren’t overspending, and make expense tracking and reporting a breeze.

Lastly, by partnering with a TMC you are saving time. Every hour you do not have to spend dealing with a travel headache, is an hour you can utilize elsewhere. Travel managers shouldn’t have to troubleshoot flight delays, manually keep track of itineraries, or pull reports from multiple locations. Travelers can find information quicker, make last-minute updates to travel plans, access 24/7 support from a trusted travel expert, and locate all expense receipts in one location.

4. Serves Your Travelers

Companies rely on corporate travel to close new business, foster relationships with current accounts, or inspire and connect departments within their own organization. In order to ensure those travel dollars are well spent, businesses need to prioritize the traveler experience to avoid fatigue and travel burnout. This is where a travel management company can shine.

By utilizing a tool like AirPortal, travelers can access all their travel plans in one location. No more frustrated inbox searching! Travelers are also alerted when they have incomplete trip plans. This allows you to avoid the high-stress situation of arriving at a new destination and realizing you forgot to book a hotel. Avoiding these small hiccups makes for a better traveler experience overall.

Let’s dive deeper into the actual booking process. Whether your travelers like to book online themselves or with a travel agent, partnering with the right travel management company can provide huge upside.

First, adhering to company travel policy is effortless. Regardless of which booking option they choose, your travelers are only offered options that fit within your policy. Traveler preferences are also documented, integrated, and considered before any bookings are confirmed, which makes for happy travelers!

Most importantly, TMCs should offer around-the-clock expert support and consultation. We all know that flights are sometimes delayed or canceled. Occasionally hotels are overbooked. Having access to a dedicated travel advisor team or a certified online support team means your travelers can feel confident in knowing they always have a trusted expert to turn to.

High-stress circumstances during business travel can lead to traveler anger and resentment towards their employer. These situations need to be solved quickly and with little effort from the traveler. With Christopherson Business Travel, your travelers have an expert in their corner to deal with unforeseen issues no matter the day or time.

5. Provides Integrated and Centralized Data Reporting

Next, let’s dig into how a travel management company can help the travel manager as well as the finance department. Many businesses struggle to analyze data because this information is coming from multiple departments and software. Christopherson’s AirPortal platform takes all your data points and presents them in a meaningful and centralized way.

Your AirPortal reporting and analytics tools can help you identify which departments or individuals spend the most on travel, which travelers book outside of your policy, and trends to see where you can save money. Having clear, concise reporting ensures accountability across all departments and helps you to make better-informed business decisions.

In addition to AirPortal’s benchmarking and analytics options, you can also access ValueLogic, an ROI tool that allows you to see exactly how and where we’re saving you money. And since not all travel programs are the same, AirPortal’s reports can be customized to your specific needs, so you see what matters to you. The end result? Cost savings and a well-managed travel program.

READ OUR BLOG POST, “ WHAT ARE THE BENEFITS OF A CORPORATE TRAVEL MANAGEMENT COMPANY? ” TO LEARN ABOUT MORE BENEFITS A TMC CAN PROVIDE.

Do you need a travel management company  .

From Fortune 500 companies to nonprofits to start-ups, any organization that wants to save time or money on travel can benefit from using a TMC. Download our whitepaper “Do I Need A Travel Management Company?” to better understand how your travel program could benefit from a TMC.

Connect with our team of experienced travel experts to learn how Christopherson can help your business travel with ease.

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What are the functions of a travel management company?

There are so many functions of a travel management company but what is right for your company? Get all the tips and low-down on TMCs.

By Jessica Freedman

February 7, 2024

In the dynamic landscape of today’s global business environment, business travel is an essential component for companies looking to expand their reach and build international connections. With the growing complexity of travel logistics, ensuring smooth and cost-effective business trips has become a real challenge.

This is where travel management companies (TMCs) come in as invaluable partners, offering a range of services to simplify business travel operations . In this post, we will highlight the importance of business travel management, explain the functions of a travel management company, and explore why companies, regardless of size, can benefit from this kind of expertise.

The importance of corporate travel management

Business travel is not just about employees traveling around the world; it is a strategic tool that promotes business growth, customer loyalty and collaboration. Effective business travel management is critical for optimizing expenses, increasing employee productivity and ensuring compliance with company policies.

A well-managed travel program can contribute to a company’s overall success, which is critical for organizations to pursue robust travel strategies.

What is a travel management company?

Travel management companies (TMC) are specialized organizations that help companies manage and optimize their business travel activities. TMCs provide end-to-end solutions that include a wide range of services to simplify travel planning, spend management and travel compliance. They leverage technology, industry expertise and global networks to create seamless business travel experiences for their customers.

The roles of a TMC

1. take care of travel bookings.

At the heart of a TMC’s responsibilities is the management of business travel bookings. TMCs use advanced booking systems and partnerships with airlines, hotels and other service providers to secure the best deals for their customers. By centralizing the booking process, TMCs ensure a standardized approach and compliance with corporate travel policies, enabling organizations to optimize costs and track expenses effectively.

2. Manage travel spend & expense management

Controlling travel spending is an ongoing challenge for companies. TMCs play a crucial role in managing travel expenses by implementing robust expense management systems. These systems automate the reimbursement process, provide real-time insights into travel expenses, and make it easier to enforce travel policies. Through comprehensive reporting and analysis, TMCs enable companies to make informed decisions about their travel budgets.

3. Help fulfill duty of care

The safety and well-being of employees on business trips is a legal and moral obligation for companies. TMCs help meet this duty of care by providing risk management services. From tracking employee travel plans to providing emergency support, TMCs help take a proactive approach to managing potential risks and ensuring employees are supported and adequately protected during their travels.

4. Improve travel compliance

Establishing and enforcing a robust travel policy is critical to controlling costs and maintaining consistency across an organization. TMCs help companies develop and implement effective travel policies and ensure employees comply with guidelines and restrictions. By automating compliance checks, TMCs contribute to a culture of responsible travel and align individual decisions with corporate goals.

5. Providing 24/7 support

Business travel happens around the clock and unforeseen challenges can arise at any time. TMCs understand the importance of ongoing support and often offer 24/7 assistance to travelers. Whether it’s rebooking flights due to cancellations, dealing with emergencies or providing travel advice, TMCs ensure that customers and their employees have access to reliable support at all times.

How do large companies manage travel?

Large companies often have complex travel requirements with numerous employees traveling to different destinations at the same time. To address these complexities, many large organizations are opting for comprehensive travel management solutions provided by TMCs. These companies leverage TMCs’ expertise to centralize travel bookings, control costs and ensure compliance with corporate policies.

What’s a good way for all companies to manage travel?

No matter the size of your business, an efficient travel management solution is crucial. While large corporations benefit from comprehensive TMC services, smaller companies can take a more scalable approach. Implementing an online booking tool is a practical and cost-effective solution for businesses of all sizes, providing a simplified way to manage travel arrangements while controlling expenses.

Online booking tools enable organizations to gain control of their travel management processes. These tools provide a user-friendly platform where employees can make their own travel arrangements within the parameters set by the company. This not only simplifies the booking process but also increases transparency and accountability.

Online booking tools offer features such as policy enforcement, real-time reporting, and integration with expense management systems, making them a versatile solution for companies looking to streamline their travel processes.

The difference between a TMC and online booking tools

Although both TMCs and online booking tools contribute to effective travel management, they serve different purposes and cover different needs. TMCs offer a comprehensive range of services including strategic advice, expense management, risk mitigation and personal support. On the other hand, online booking tools mainly focus on simplifying the booking process and providing a self-service platform for employees to make their travel arrangements within predefined guidelines.

Why does your business need a corporate travel company?

The need for a travel management company arises from the increasing complexity and challenges associated with business travel. TMCs bring a level of expertise and efficiency that goes beyond what individual employees or internal travel coordinators can achieve. Here are some compelling reasons why your business needs a travel management company:

TMCs leverage their industry connections and bargaining power to secure the best deals on travel-related services and optimize costs for their customers.

Outsourcing travel management to a TMC frees up valuable time for employees and allows them to focus on their core responsibilities, which in turn increases overall productivity.

 TMCs help organizations develop and enforce travel policies and ensure employees comply with guidelines and restrictions to minimize risk and ensure consistency.

TMCs play a critical role in fulfilling a company’s due diligence by providing risk management services and 24/7 support to employees while traveling.

For companies with international operations, TMCs offer global expertise and local knowledge to enable seamless business travel experiences across different regions.

TMCs leverage advanced technologies to provide integrated solutions from online booking tools to expense management systems, ensuring a cohesive travel management experience.

In the fast-paced world of business travel, effective business travel management is of strategic importance. Travel management companies play a critical role in simplifying travel logistics, optimizing costs and ensuring employee well-being while on the move. Regardless of whether you work for a large company or an SME , using a TMC like GetGoing can make all the difference in staying competitive and reducing the workload on your employees.

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How to pick a travel management company (TMC)

The Travel Management Company (TMC) partner you choose can significantly affect the success of your organization’s managed travel program, traveler satisfaction, and the company’s bottom line. Finding the best TMC match requires strategic planning, a methodical process and involvement from the right travel stakeholders. Here’s a guide to help pick the right TMC to manage your company’s travel needs.

Know what you need from a TMC.

Identify the specific services you need from them, such as their ability to connect travel program strategy to company mission and purpose, sector experience,  hotel program expertise ,  sustainability ,  travel policy compliance ,  risk management , or a defined approach to  Diversity, Equity and Inclusion ( DE&I). The TMC should demonstrate broad experience in managing travel for organizations like yours. They should offer robust travel management technology and digital technologies to service all of your company’s needs. Do they have sufficient global reach and supplier partnerships to accommodate your international travelers? Can they demonstrate continuous improvements over time?

Qualities to look for in a TMC >

Assess whether the TMC’s culture matches your priorities and objectives.

For example, if  sustainability  is a priority, your TMC partner should exhibit long-term commitment to all aspects of corporate social responsibility, including but not limited to conservation, reduced carbon burdens,  accessibility  for all travelers, and safety considerations for different traveler communities.  

Make sure the TMC’s culture matches your priorities and objectives >

FINDING THE RIGHT TMC

As a travel buyer, you’re responsible for helping your organization use travel and meetings to achieve broader goals. Partnering with the right TMC leads to improved safety, productivity and wellbeing for business travelers and streamlined processes and cost savings.

Keep your organization’s goals firmly in mind.

This process should ultimately lead to a successful, long-running partnership aligned to your organization’s values, culture, and objectives. Before you begin:

Take a closer look at the TMC process >

Get to know your potential supplier partner.

This part of the selection process shouldn’t be taken lightly or relegated to standard presentations with slides. To find the right supplier, set up workshops with each bidder. That way, you can start to build a deeper understanding of who you’re buying from. These workshops can take multiple forms. The true benefit is in making space for open conversation, more discovery and becoming better acquainted. After all, you’re not just buying a company’s service, you’re buying from people.

Use workshops for discovery >

Issue your RFP with confidence.

Now that you’ve identified your company and traveler needs, aligned your goals with key stakeholders across the business, and met with TMCs to workshop your program, you’re ready to issue the RFP. Knowing what’s most important means you can now get an all-encompassing proposal from each bidder so that you can find the TMC partner who meets your needs now and can grow with you in the future. 

Issue the RFP >

How-to guides

Get more done with our How-to series for people who work and manage travel.

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Travel management company (TMC)

A travel management company (TMC) (or corporate travel management company ) is a travel agency that helps businesses manage their corporate travel . TMCs completely arrange business trips according to the organization’s travel policy. Thus, in addition to booking flights and accommodation, TMCs also organize 

• airport transfer and other land transportation, 
• car rentals, 
• currency exchange, 
• insurance , 
• leisure travel ,
• venue sourcing, and other special requests.

Besides booking travel products, TMCs usually offer additional services such as travel risk management , on-trip assistance, and post-trip reporting. Some TMCs also provide their clients with convenient online self-booking tools with additional features such as flight status monitoring or expenditure reports .

TMCs typically source their inventory from GDSs , wholesalers , consolidators , or directly from travel service providers. Due to their industry expertise and access to negotiated, lower rates, TMCs help businesses save on travel expenses and improve efficiency.

Some of the major TMCs are American Express Global Business Travel (GBT), BCD Group, Carlson Wagonlit Travel, FCM Travel Solutions, Egencia, TripActions, and TravelPerk.

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What is a travel management company (TMC)?

What is a travel management company and why should you use one? Learn about what a TMC is and how it can help your business.

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. [1]

Is there a difference between an OBT and a TMC? [2]

Yes, there is a difference between an Online Booking Tool and a Travel Management Company. An online booking tool allows employees to track and manage their own business travel. Travel management companies offer more robust support on top of providing their own online booking tool. While OBTs allow your employees to individually search for their own corporate travel options and deals, TMCs typically offer support from experienced travel consultants who specialise in finding the best rates for business travel, while also allowing your employees the flexibility to choose their own flights, hotels and hire cars .

TMCs like Egencia 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 a TMC, your employees are supported at every stage of their travel, while helping your business save money and offering deeper travel insights.

Are travel management companies and travel agencies the same thing? [3]

No. travel management companies and travel agencies are not the same thing, although they may share some similarities. While travel agencies can help clients book corporate travel, and occasionally offer lower rates through a limited number of vendors, TMCs focus on exclusively servicing businesses, helping to create and adhere to a company’s corporate travel programmes, and finding the best rates for maximum savings .

TMCs also provide a wider array of services than traditional travel agencies, like the centralisation and automation of the travel booking process, data-reporting options and travel policy creation. Additionally, TMCs have cultivated years-long relationships with vendors and can negotiate lower fares for maximum savings.

7 benefits of using a travel management company

As business travel continues to ramp up, TMCs 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:

1. TMCs help streamline your travel booking process

By automating different travel components—like lodging, flights and ground transportation—into one online booking platform, it makes the booking process more efficient and easier to manage, and saves your employees valuable time.

2. Facilitates gathering data for more informed decision-making

Through partner integrations and APIs, TMCs can offer real-time data gathering that can help analyse travel trends, assess risk management, as well as control budget spending . In turn, this data can help your organisation make better, more educated business decisions.

3. TMCs provide travel assistance 24/7

One of the biggest benefits of using a TMC is that you can rely on reaching a travel consultant any time—day or night. Instead of having to keep track of several different vendors, your employees enjoy one point of contact that is reachable through a variety of different channels.

4. Enjoy the perks of a concierge service

From handling the most minute details—that can range from seat preferences to making sure travel reward points are applied accordingly and everything in between—TMCs elevate the traveller experience of your employees by taking care of all their travel needs.

5. Can help reduce corporate travel costs

Because TMCs specialise 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.

6. Provides traveller safety assistance

Whether unexpected security concerns arise, or travel regulations are updated at the last minute, TMCs keep travellers informed with real-time notifications.

7. Integrates your company’s corporate travel policy for greater compliance

TMCs bridge the gap between employee travel booking best practices and your company’s corporate travel policy . A TMC can filter an employee’s search results to be automatically compliant to your business’ travel policy guidelines, saving them time and providing ease of use. If for whatever reason an itinerary isn’t compliant, it’ll be flagged for further approval.

Choosing a TMC that’s right for your business

While there are a number of different travel management companies to choose from, the right TMC will depend on your business needs and goals. Some must-haves to take into consideration as you shop for a TMC to partner include: [4]

• Responsiveness
• Comprehensiveness

Choose a TMC that is aligned with your company’s culture . Since you’ll work closely with them to create and organise your employees’ corporate travel, they should align with and uphold your company’s values.

Egencia provides you with corporate travel solutions

Whether you’re just starting a new corporate travel programme or are looking to make yours more robust, Egencia provides modern travel management with a single, global and highly configurable platform. You’ll have the power to build integrations that help you automate, connect and simplify your travel and expense management. From small and medium-sized businesses to global corporations, we connect you with over 290 global airlines and 650,000 lodging properties.

Ready to get started?

Request a demo to see what we can do for you.

[1] https://www.cbtravel.com/difference-between-travel-management-company-and-travel-agency/

[2] https://www.travelperk.com/blog/best-business-travel-management-companies/

[3] https://www.cbtravel.com/difference-between-travel-management-company-and-travel-agency/

[4] https://jtbbusinesstravel.com/how-to-choose-a-travel-management-company/

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