Inefficient management of business trips can be a major drain on a company’s resources, in addition to the headaches they bring. The various facets of corporate travel can be time-consuming and expensive for businesses. As a result, relying on someone is essential for work travel. That’s why it’s smart to team up with corporate travel management companies to ease your mind on business trips. We’ve compiled a list of the best corporate travel management companies in this article to make it easier for you to choose the best that suits your company. Why not dive in now?
What Are Corporate Travel Management Companies?
Companies often utilize the services of corporate travel management companies to ensure that all employee business trips are planned and executed in accordance with company guidelines. The corporation is in charge of organizing all aspects of employees’ work trips. As a result of its integration with airlines, hotels, and car rental agencies, business trips taken by employees are less stressful and more productive.
Difference between a Travel Agency and a Travel Management Company
While agencies serve a wider variety of clients, corporate travel management companies focus exclusively on the needs of business travelers. Travel management companies (TMCs) focus on serving customers with specific needs, whereas travel agencies provide services to a wider variety of customers. Agencies tend to put greater emphasis on developing memorable itineraries and high-end experiences, while travel management companies offer reporting and expenditure management solutions.
Services Offered by Best Corporate Travel Management Companies
Corporate travel management companies provide a wide range of services, but some of the best ones are as follows:
- Planning trips in a way that adheres to company guidelines and stays under the allocated budget
- Developing efficient methods of cost management
- They offer discounted pricing negotiated with the supply side.
- Reporting and trip risk management are provided by corporate travel management companies.
- They provide auxiliary aid in the form of technological support, venue booking, and more.
Best Corporate Travel Management Companies
Finding a reliable travel management partner can help you save money and provide first-rate benefits to your staff. Therefore, to get you started, below are some of the best corporate travel management companies:
#1. TravelBank
Expense reports, financial monitoring, and booking are all part of TravelBank’s full business travel management package. Businesses can use TravelBank to streamline employee travel arrangements and save time and money. It is one of the best corporate travel management companies you can go for.
#2. AMEX GBT
AMEX GBT is a wonderful choice for those in search of a dependable and time-saving solution for their business travel needs. Pre-negotiated charges and timely warnings of potential problems make them a cost-effective and reliable option. Also, whenever you need assistance, you can contact them within 15 seconds, as this is their standard response time. And FlexiPerk can earn you up to 80% of your money back if you need to cancel your vacation at the last minute.
#3. Paxes
Paxes caters to companies of varying sizes and assists them in managing their business trips. It also helps the leading corporate travel management companies better oversee the international business travel of their clientele. Paxes allows corporate administrators to easily create multiple invoices, manage budgets, and analyze expenses down to the cent.
#4. TravelPerk
Since TravelPerk has partnered with the best businesses in the industry, it offers the widest variety of travel possibilities in the world. TravelPerk will do the labor of finding cheap flights, hotels, and rental cars so you don’t have to. It is one of the best corporate travel management companies you can go for.
#5. BCD Travel
Businesses of all sizes can benefit from the extensive travel management options provided by BCD Travel. BCD Travel is perfectly positioned to assist businesses with their global travel management needs with offices in 109 different countries. There are three distinct platforms in their software suite that can be tailored to your company’s specific requirements. BCD Travel also provides access to application programming interfaces (APIs) for integrating with their systems, making it simple to get the tailored solution you require. It is one of the best corporate travel management companies you can go for.
#6. CTM
CTM is the only company you need to contact if you need an all-inclusive business travel solution. For business trips, they offer online booking facilities that make it simple to reserve a room and a car. It is one of the best corporate travel management companies you can go for. Your business trip preparations will be a breeze with the help of CTM.
#7. Egencia
Egencia is a useful solution for companies who need to keep track of their business travelers and related data. Therefore, safety for tourists and a smooth trip are ensured. Egencia also offers statistics and analytics to help firms evaluate the value of their business trips and find ways to improve.
#8. CWT
The B2B platform that CWT offers its staff is stable and simple to use. Their software is accessible from desktop computers and mobile devices, and it allows guests to book accommodations at a wide variety of hotels. It is one of the best corporate travel management companies you can go for.
#9. SAP Concur
SAP Concur is an all-inclusive software package for corporations to use as a travel expense management tool. It has many useful functions, such as scheduling, invoicing, and spending tracking. Because of this, it is a great option for businesses looking to streamline their business travel while cutting costs.
You may reach where you need to go fast and effortlessly with the help of Navan’s trusted partner connections and straightforward booking process. It is one of the best corporate travel management companies you can go for. Furthermore, Navan’s support team is ready whenever you need it.
#11. FCM Travel Solution
FCM Travel Solution is one of the best choices if you are searching for cheap business trips. It has connections with major airlines and more than 650,000 hotels, allowing them to provide you with discounted travel and room rates. It is one of the best corporate travel management companies you can go for. In addition, they have an effective online booking tool and an expense management platform as part of their FCM Connect suite of solutions, which makes trip preparation and cost tracking a breeze.
Features of The Best Corporate Travel Management Companies
The following are the features of The Best Corporate Travel Management Companies:
#1. Quick and Simple Reservations for Business Trips
Booking business travel according to the preferences of individual business travelers is always preferable. Similarly, accommodating the trip booking demands of every employee might be a complex and time-consuming procedure that could be simplified. Choosing a TMC also requires consideration of the level of customization provided. It’s crucial because the corporate travel management company you choose ought to tailor their services to fit your requirements rather than merely sell you off-the-shelf packages.
#2. Business Travel Expenses
Cost and savings are two factors that must be taken into account when choosing a travel management system. TMCs, as opposed to B2B travel agencies, typically have access to corporate prices for hotel and aircraft bookings. Furthermore, a TMC should make sure that corporate booking guests are as comfortable as possible. But it shouldn’t come at the expense of blowing the company’s travel budget. Therefore, it is important to minimize these expenditures so that travel is both pleasant and inexpensive.
#3. Exceptional Assistance with Business Trips
There is an urgent need for a fully automated platform, yet this will never be able to replace the necessity of human trip assistance. One must therefore acknowledge the requirement for round-the-clock travel support, which provides quick answers, knowledgeable advice, and immediate responses to urgent demands. Therefore, you should look for a business that actively works to prevent and resolve problems.
#4. Superior Innovation for Business Travelers
Errors made by humans can be replaced by AI, which will save a lot of time and paper. That’s why the best corporate travel management companies provide both travel managers and employees with comprehensive digital services. Expenses can be more easily reported and tracked with the use of automation, and mobile access to booking tools like itineraries, policies, and support has been greatly improved as a result of technological advancements.
#5. Policy-Integrated Travel Management System
If you want to manage business trips properly, you need to establish a travel policy. The goal of these rules is to protect both the business and its employees when they are on the road. The ideal travel management application will not only have the technology to integrate the policy with each booking choice but will also make sure that all corporate travel best practices are followed.
#6. Accurate Record-Keeping for Business Travel Expenses
When it comes to measuring success and pinpointing areas for development, nothing beats straightforward reporting from a corporate travel management program. Having access to this information will improve your decision-making and lead to higher earnings by highlighting possible areas for savings and revealing wasteful spending. Therefore, this is an essential consideration when selecting an appropriate corporate travel management portal.
#7. Approval Process Bundled With Business Reservations
The best tool for managing business travel allows you to streamline several approval processes for your staff. In order to ensure that bookings are validated in a timely manner, the top corporate travel management companies automate the approval process and provide notifications to the approver.
Things You Should Look Out for in Corporate Travel Management Companies
Corporate travel management companies come in a variety of forms. This is why an investigation is necessary to identify the best corporate travel management company for your organization.
#1. Evaluate the Pricing Strategy
One of the most crucial aspects to consider when selecting a corporate travel agency is the pricing structure. The costs associated with using their services should be reasonable, especially over the course of a longer period of time. For this reason, it is suggested that you employ the help of a professional corporate travel management company. By leveraging their large network in the tourism industry, they will be able to get deep savings on airfare, public transportation, and lodging. You can receive the same benefits, saving a significant amount of money on each work trip.
#2. Adjustable Level of Customization
The destination and reason for your business trips could be different every time. In the case of personnel attending a seminar in a foreign country, the host organization typically takes care of hotel accommodations. Your executive may have distinct travel and lodging requirements if they are going to meet with a client in order to finalize a commercial contract. That’s why it’s crucial for your company to work with a corporate travel company that offers tailor-made itineraries.
#3. Expertise in the Field
Before signing a contract with a travel management business, you should think about their level of experience in the industry. There are travel agencies that just handle domestic travel, and there are agencies that only handle international excursions. Choose corporate travel management companies that meet all of your needs in one convenient location. Only a seasoned firm can guarantee quality results. They’ll always be available to help you, and they’ll have the resources to do it well.
#4. Availability of Technology
Technology plays an integral role in today’s business travel management. In order to provide their customers with the most effective travel management solutions, most service providers rely on state-of-the-art technology. Be sure you work with corporate travel management companies whose systems utilize the most recent tools, technologies, and trends. They will be in a superior position to meet all of your transportation requirements.
Benefits of Corporate Travel Management Companies
Hiring a corporate travel management company has several advantages.
#1. Keeping Tabs on Costs
Business travel management companies offer tools to manage and automate the expense reporting process, allowing firms to better keep tabs on how much is being spent on business travel.
#2. Assistance for Business Travelers
Business travelers can access the services of a company that handles business travel around the clock, every day of the week. In the event of an unexpected occurrence or a change in travel arrangements, this can come in handy.
#3. Travel Management Solution
Booking flights and hotels, organizing transportation, and offering customer support are among the services that Business travel management companies can provide to enterprises.
#4. Lower Travel Costs
Business travel management companies are able to save their customers money by providing them with special rates on flights, hotels, and more.
What Does a Corporate Travel Planner Do?
An organization’s employee travel arrangements are managed by a corporate travel planner. Everything from scheduling meetings, reserving a table at a restaurant, and arranging for various forms of ground transportation
How Do I Get Corporate Travel Clients?
- Establish a posting schedule.
- Take photos of your travels so you always have things to share.
- Follow other travel accounts to get ideas.
- Hire a social media manager.
- Use social media scheduling apps to automate your posts.
How Do You Become a Corporate Travel Manager?
- Get the right education and training.
- Learn GDS.
- Start off on the right foot.
- Network, network, network.
- Know the travel industry inside and out.
- Become a master communicator.
- Think strategically.
- Be well-organized.
What Kind of Support Can Businesses Expect from a Corporate Travel Management Service?
You can count on full assistance at all stages. Your entire itinerary will be laid out for you ahead of time. They will have backup measures in place to guarantee your comfort, safety, and security in the event that something goes wrong.
Can I Save Money by Hiring a Corporate Travel Management Service?
The use of a business travel specialist is unquestionably cost-effective. Their associates and business partners give them massive discounts. You’ll enjoy the same benefits, which equate to significant savings on each and every trip.
What Is the Value of Corporate Travel Management?
Corporate travel management services are popular because they help businesses save money on business trips. Costs like lodging, medical coverage, transportation, and meals are all factored in. A professional corporate travel agency will know how to locate or negotiate the most advantageous rates for its clientele.
Why Is a Corporate Travel Manager Important?
Managers of business travel are responsible for the oversight and administration of the company’s travel policies, as well as the management of business travel expenses, the leadership of vendor and partner contracts, the monitoring of the needs of business travelers, and the identification of cost reductions.
What Skills Do You Need to Be a Travel Manager?
There are a lot of people a travel manager will have to talk to on the phone to help employees with their travel problems. A travel manager needs to be able to assess the situation and offer viable solutions promptly. Building rapport with local travel providers and negotiating better prices requires strong interpersonal skills.
Final Thoughts
Working with reputable corporate travel management companies is a smart move if your organization often sends out personnel on business trips. You may be able to save time, money, and effort. Picking the best corporate travel management companies is usually a good idea. The best corporate travel management companies will work with you to develop a strategy for handling all aspects of your business trips that are tailored to your specific requirements.
Related Articles
- IS TRIP INSURANCE WORTH IT? All You Need To Know
- BEST WAY TO RENT A CAR: Best 2023 Practices & All You Need
- How to Become a Travel Agent: Simple Steps, Updated!!!
- STEPS TO BECOMING A TRAVEL AGENT: Detailed Guide
- BEST TRAVEL APP FOR FLIGHTS: Best App for Flights, Hotels & What You Should Know
References
