travel tech insights

3 Ways Travel Management Companies can improve their business

It’s clear 2016 has become something of a pivotal year for travel management companies and the corporate travel world in general - and, if the first half of the year is any indication, the second half is poised to be just as impactful. At least that’s the feeling expressed by a host of travel and tourism industry experts at the annual Global Business Travel Association Conference in Denver, Colorado this past week wherein analysts concluded the corporate travel industry is still lagging behind the leisure travel sector in a number of key areas.

While conference presentations and lectures highlighted the steps travel management companies are taking to cater more closely and specifically to the needs of today’s modern business traveler, the consensus was the corporate travel industry is still in catch-up mode when it comes to a number of back office and customer-facing operations which may in fact be preventing the corporate travel industry from reaching its full growth potential - a revelation that’s particularly worrisome given the rapid growth of commerce and business in several key emerging markets.

Topics: Travel Management Company Business Travel Business Traveler travel trends Corporate Travel

How a Travel Management Company controls Business Travel Costs (Part 2)

Part 1 of this series explored why controlling the cost of employee travel is difficult due to issues that cannot be eliminated and are not easily handled. Part 1 also discussed why these difficulties often lead organizations to use travel management companies (TMC) for their business travel -  with their responsibilities ranging from administering corporate travel policies to booking employee business trips.

Topics: travel technology Travel Management Company Business Travel TMC Travel Policy Travel Costs Corporate Travel

How a Travel Management Company controls Business Travel Costs (Part 1)

Business managers often find the challenges of controlling business travel costs to stay top of mind for two reasons: 1) travel costs often appear deceptively easy to manage and control – only to turn out to be quite the opposite; 2) travel is expensive, meaning these costs can quickly become significant if not controlled.  Travel costs appear easy to control because the amounts almost always require a formal approval mechanism. However, travel approval procedures in most companies tend to stumble in two ways.

Topics: Travel Management Company Business Travel TMC Travel Policy Travel Costs Corporate Travel

Why Every Travel Management Company should embrace Bleisure

The release of BridgeStreet Global Hospital’s The Bleisure Report 2014 introduced a new term to the travel industry and revealed the idea of combining business and leisure travel – far from being outlandish – was a reality for a sizeable number of people and poised for growth.  The report found that 83% of global business travelers take time on business trips to explore their destination cities and 37% add personal leave days to most or all of their trips. The key word to notice is “global” business travelers, because it makes all the sense in the world to maximize international airfares bought by employers.

Topics: Travel Industry Travel Management Company Business Travel TMC Business Travelers Millennials Bleisure Leisure Travel

Six Ways a Travel Management Company can Help the Business Traveler

There are several audiences for this question and at least as many possible answers. The audience which likely first comes to mind is the business person - finding his seat on an early Monday morning, then monitoring connection times as he makes his way home on Friday.  Invisiblein that mental picture is a second audience: the traveler’s corporate travel policy. Then there is a third one – the corporate managers responsible for the execution and outcomes of that policy.  It’s impossible for any travel agency to arrive at a good answer to the question unless it thinks in terms of managing travel rather than simply arranging travel.  

Topics: travel technology Travel Management Company Business Travel TMC Business Traveler Travel Policy travel software