What Is Corporate Travel Management?
With operations budgets getting tighter and tighter as many businesses hunker down to endure the current economic squeeze, corporate travel management services are increasing in popularity. But what can these services offer a company that they do not already have?
Travel management companies offer businesses an all-inclusive business trip management service which covers every aspect of the business trip from train reservations to airline tickets to hotel bookings. Each element of the trip is taken care of by the travel management company, freeing up the time of the business person to concentrate on the company’s core business.
Moreover, travel management companies offer businesses their collective knowledge and experience when it comes to business travel. This, combined with business contacts and favourable rates ensures that business trips are arranged in the most efficient manner possible. This is a highly cost effective proposition for any business that sends employees away on company matters, whether regularly or infrequently.
For every aspect of business travel, corporate management companies bring with them a unique set of benefits which truly sets them apart from the performance of an ‘in-house’ corporate travel department.
Hotel reservations
The extensive knowledge and experience gained by travel management companies over their years of operation is particularly beneficial when it comes to making hotel reservations. An industry leader in the field of corporate travel management is The Co-operative’s Travel Management service.
The Co-operative’s service can ensure that the hotel accommodation for the trip fits the appropriate profile as determined by both the client company and the individual undertaking the trip. This may be in terms of the style of the accommodation, the budget provided by the company, the local culture and situation, the location of the hotel in relation to other facilities and the safety of employees during the trip.
Moreover, in their search for appropriate hotel accommodations The Co-operative will take into account their own contracted rates, consortia rates, the company’s negotiated rates, government rates if applicable and pre-paid packages. They are one of the few travel management companies that offer a bill back service, removing the requirement for employees to pay bills themselves and then claim back expenses at a later date.
Rail bookings
Industry knowledge is also invaluable when it comes to making rail bookings for business trips. On average The Co-operative’s travel consultants are able to make savings of 40% or more on standard fairs through their knowledge of UK rail pricing structures. This specific knowledge can produce considerable savings across a number of business trips.
Moreover, the travel management company is able to tailor the rail booking to the business’s requirements for that particular trip. In many instances the company’s priority may vary in terms of ensuring the fastest, cheapest or most direct options that are available. Extensive industry knowledge among travel consultants as well as access to live rail fare availability means that businesses can benefit from the very best prices when it comes to rail bookings.
Airline reservations
Again, when making airline reservations, being able to call upon considerable industry knowledge and experience can make all of the difference. The Co-operative Travel Management regularly delivers savings of 60% or more on standard airfares. This is achieved via access to the Focus online airfare database which allows travel consultants to compare flights by route, cost and carrier to find the best deal.
The cornerstone of travel management companies, whether dealing with flights, rail journeys or accommodation, is industry knowledge and experience. This expertise allows The Co-operative Travel Management service to deliver significant cost savings as well as to introduce new efficiencies into conducting business trips.