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 and rail with providers all around the world. At Corporate Travel Management (CTM), we 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.
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.
- 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. Technology to drive savings
- Online Booking Tool: Pay less without compromising on quality. Access and compare your preferred supplier deals alongside CTM’s corporate negotiated rates and last-minute inventory in a single search via CTM Lightning online booking tool or its app.
- Fare forecasting: CTM’s fare forecasting technology shows 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.