Travel management company benefits: cost savings

When deciding to partner with a travel management company, there are several factors to consider, from servicing capabilities and technology solutions, data and security, to travel content available.

If you’ve never used a travel management company before, it can sometimes be difficult to get all stakeholders on board with the idea of switching from self-managed to managed travel, especially when it comes down to cost.

In these situations, it’s important to measure the value and benefits of a travel management company and how much return on investment is generated to make the switch worthwhile for your business.

In this blog, we list the benefits of partnering with a travel management company and how they deliver cost savings.

Global buyer power for better supplier negotiations

Cheaper fares

A travel management company with global buying power has the scale to achieve maximum savings for customers by providing better discounts on flights, hotels and rail with travel suppliers all around the world. Corporate Travel Management’s (CTM’s) global network allows our customers to enjoy the consistency of service supported by compatible systems and processes in every market they travel in for maximum savings, efficiency and compliance.

Inclusions and add-ons

Fruitful business relationships with suppliers allow TMCs to negotiate tailored inclusions on your behalf, resulting in value-for-money business travel. The CTM Global Hotel Program provides customers with access to exclusively negotiated corporate room rates and a wide range of value-added experiences at more than 48,000 properties in over 200 countries around the globe.

Better insights for more informed decision making

Advanced data and reporting

Travel data tools can be used to visualize and dissect complex data providing a holistic view of your corporate travel programs performance online at any time, giving you a robust breakdown of where costs are significant and where you can improve. With CTM’s Data Hub, you can also use hypothetical data inputs to visualize how changes to your program could optimize costs and savings in the future.

 

Professional training sessions

After completing an in-depth review of your travel program, TMCs often provide training sessions for your travel bookers to encourage more efficient and cost-effective booking behaviors. Through education programs and follow-up sessions, travel bookers feel empowered to make better decisions.

Strategic account management

Account managers handle everything from negotiations with vendors to the day-to-day operations of your travel team, to traveler safety, travel reporting and training. They work alongside your team of dedicated travel advisors, ensuring your travel arrangements are organized to meet all of your business needs, factoring in efficiency, safety, schedules and budget. At CTM, we provide strategic travel management services to large enterprise and global businesses looking to elevate their business travel program, drive savings and deliver on business growth goals.

 

 

Technology to drive savings

Online booking tool

Access and compare your preferred supplier deals alongside corporate negotiated rates and last-minute inventory in line with your company travel policy.  CTM’s proprietary technology framework delivers unique product customization for customers to support their travel policy and program, significantly increasing the speed and cost savings potential for our online booking solutions.

Fare forecasting

CTM’s fare forecasting provides a visual representation of up-to-date flight prices, displayed by specified journey or destination, to see when the most cost-effective day to travel is. This empowers travel bookers to select the cheapest time to travel without having to switch between different searches and browsers.