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Reduce Travel Spend With Strategic Supplier Management

Organizing business travel can be a time-consuming and costly task. There are flights to arrange, often at the last minute, as well as accommodation bookings and transport on the ground. In such a fast-paced and ever-changing industry, how can companies of all sizes ensure they are finding the best balance of travel value and cost savings?

The goal of cost savings is but one side of the business travel equation. A good travel management company (TMC) helps the organization realize cost savings while also optimizing value, safety and efficiency.  This article is specifically intended to give some insight into the way a strong TMC accomplishes cost savings and improves the traveler experience.

Many businesses miss out on valuable savings because they either lack the buying power or ability to leverage spend to negotiate a better deal with suppliers, or because they simply don’t ask, often assuming a supplier’s standard rate is the best available offer. It’s not.

The benefits of managed travel

That’s where a TMC with excellent supplier relations can make a huge difference to your bottom line. A good TMC has established supplier relationships and industry expertise that simply aren’t available when you book direct with suppliers.

Corporate Travel Management (CTM) is constantly finding ways to improve our customer’s travel spend and travel experience across flights, hotel and ground transportation.

 

Supplier negotiations

 

 

 

We aren’t afraid to ask the questions that ensure suppliers remain competitive, affordable and relevant. As a global company, CTM has extensive supplier buying power and support networks that benefit our customers throughout the world.

Our experts first analyze and review your business’s travel behavior and spending patterns to get a comprehensive understanding of your specific requirements, taking into account both cost-savings goals as well as value added amenities.

We aren’t afraid to ask the questions that ensure suppliers remain competitive, affordable and relevant.

Based on this information, CTM selects the right line-up of preferred airlines, hotel chains and car rental providers, then negotiates significant discounts and value added services to help your organization optimize supplier partnerships.

By analyzing our customers’ specific travel trends and recommending the most cost-effective supplier agreements, CTM regularly identifies supplier savings opportunities up to 20% off the standard published rates. In addition to delivering customers with substantial savings from supplier negotiations, CTM’s strong global supplier relationships enable us to negotiate a broad range of valuable waivers and favors on behalf of our customers each year, which simply aren’t available when booking direct.

 

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In the air

The first thing that often comes to mind when coordinating business travel is the cost of flights. CTM has a suite of technologies that busy travelers and travel arrangers can access to ensure they have visibility of the best airfare prices available at any time. These tools highlight potential flight cost savings, providing comparisons across multiple airlines, time-frames, class of travel and loyalty benefits in a single search.

Our experienced teams can also identify substantial cost savings that may be achieved through a preferred airline agreement, or through small changes to your booking behavior.

 

On the ground

While reducing spend on flights is often a priority, significant savings can be achieved at ground level too, and don’t always attract the same attention.

Having a strong connection to local hotel and car rental providers gives CTM the ability to negotiate the best possible rates, benefits and inclusions for customers, securing significant savings not available through independent bookings.

A strong TMC aims to strike the optimal balance between various aspects of your program, but cost savings is certainly one area where a TMC’s buying power and relationships can make the most immediate, positive impact to your bottom line.

 

 

 

 

Let us help you

Negotiating the most cost-effective supplier agreements is just one way that CTM delivers unbeatable value to its customers. Our key goal is to help you get the most out of your corporate travel program, and we constantly look for ways to reduce expenditure without compromising on safety, efficiency or quality. We are committed to developing highly customized travel management solutions that make a real difference to businesses of all sizes.

If you’re looking to reduce your travel spend, then CTM has the solution. To learn more about our range of cost savings strategies, contact CTM today: