Benefits of using a TMC: Cost Savings
When making the decision to partner with a travel management company there are several factors to consider; from the extent of service and technology components to travel content available. If you’ve never used a TMC 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 of a TMC and how much return on investment is generated to make the switch worthwhile for your business.
In this three-part series, we list the benefits of using a TMC versus a self-managed travel programme, starting with cost-savings and cost-avoidance opportunities.
1. Global buyer power for better supplier negotiations
- Cheaper fares: TMCs with global buying power can provide better discounts on flights, hotels, rail and car hire with providers all around the world. At CTM, a specialist Fares Desk Team can help find creative solutions for cheaper travel, and our lowest fare guarantee means you won’t find a better price anywhere else, and if you do – we’ll match it.
- Inclusions and add-ons: Strong relationships with suppliers allow TMCs to negotiate relevant inclusions and discounted add-ons on your behalf, resulting in more value-for-money business travel. To get an idea of what this might include, check out our hotel inclusions blog here.
2. Better insights for more informed decision making
- Advanced data and reporting: Travel data tools can drill into the specifics of your corporate travel programme’s performance online at any time, giving you a robust breakdown of where costs are significant and how you can improve. With CTM’s SMART Data, you can also use hypothetical data inputs to visualise how changes to your programme could optimise costs and savings in the future. Read more about how SMART Data can transform your travel programme here.
- Professional training sessions: After completing an in-depth review of your travel programme, TMCs often provide training sessions for your travel bookers to encourage more efficient and cost-effective booking behaviours. Through education programmes and follow-up sessions, travel bookers feel empowered to make better decisions.
3. Tools to drive savings
- Ride share: Heading back to the office? Chances are that one of your colleagues is too. With ride share technology you can save on ground expenditure by sharing a trip and splitting the fare. CTM’s Ride Share tool pulls information from traveller itineraries and alerts travellers when there’s an opportunity to share a taxi or car rental booking from the same airport.
- Fare forecasting: Tools such as Fare Forecaster show future projections to see when the most cost-effective day to travel is with up-to-date flight information for a specific route or destination. Travel bookers can choose the cheapest time to travel without having to switch between different searches and browsers.
Are you looking to get started with a TMC?
We are running an introductory offer for small to medium-sized businesses featuring no online transaction fees for the first three months if you sign up by 20th March 2020. Contact us below to see if you’re eligible.