You have questions, and we’ve got answers! When considering whether your business would benefit from using a travel management company (TMC), we are here to help you weigh your options with answers to five of the most frequently asked questions about TMC’s.
- Does my business need a TMC?
Ultimately, it would be very difficult and overwhelming to leave your company’s travel program in your own hands or the hands of an employee. If your annual travel spending is anywhere near $200,000 and/or your business is large enough to negotiate prices with airlines and hotels, your corporation is more than likely to benefit from utilizing a corporate travel agency’s services.
- What value is added to my travel program when using a TMC?
There are numerous ways a TMC can add value to your travel program. Your company will have greater leverage at the negotiation table by having access to data tracking and expense reporting which will provide your company with a better understanding of business volumes pertaining to specific suppliers. Since a TMC will be managing preferred booking channels, these experienced agents will know when a reservation is made, and a ticket is bought. Unused tickets or missed reservations will be able to be reclaimed and your travelers will have a direct line of assistance should any changes or mishaps occur. Since your travel plan is completely customizable to the needs of your travelers, your TMC will provide you with access to the latest travel industry trends that could be better suited for your business.
- How much should a TMC cost?
To retain the services of a Business Travel Agency, the most common fee structure is paid per transaction, although some companies still pay a flat monthly management fee. Transaction fees have a wide range- from $5 to book a hotel reservation to $35 to book flights. However, when you book through a TMC’s online channel you will save money and time by not having to speak directly to an agent and your travel preferences will already be updated to the program. While you may be thinking an additional fee for every transaction is excessive, it is important to realize that this charge covers all of the TMC’s services.
- What kind of savings can be expected?
TMCs such as Brickell Travel Management have been known to save organizations up to 50% on their travel programs. When you partner with a corporate travel agency , a dedicated travel manager will guide travelers into choosing referred vendors that use pre-negotiated rates. Although fairly new programs have a greater savings expectancy, a Travel Management Company can support a more mature travel program by pinpointing out-of-policy travelers and steering them into new booking guidelines. We can’t stress enough how important it is to keep your company’s culture in mind when creating a travel policy. Once you have gained support from the stakeholders of your business and clearly communicated the new business travel agency practices to your travelers with fully-mandated travel policies, expect greater savings and success rates than ever before.
- How do I know which TMC is right for me?
When you first consider using a Travel Management Company, you should define what your organization’s top five or ten goals are when implementing a travel program. Some of these goals may include capturing spending data, security and tracking of travelers, or scoring better rates with suppliers. At Brickell Travel Management, we are open for conversation. Once your company’s objectives are outlined, we immediately get to work on planning how to achieve and surpass them. Whether you operate a large company that needs a TMC with global travel partners, or a smaller company that requires more nimble travel managers, your relationship with us will always remain transparent.
If your company is looking to save money on business travel spending, benefit from numerous perks, and add value to your current travel program, talk to one of our dedicated corporate travel agents today!
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