Travel Supplier Enhancements

The rise in corporate travel leads to an increased demand for travel supplier enhancements. People expect more from travel supplier optimization tools than seamless booking processes and diverse accommodations. 

Transparent expense management features are essential to meet the growing expectations for travel supplier enhancements. They must provide seamless, user-friendly experiences to meet the needs of modern corporate travelers.

This blog talks about different types of travel supplier enhancements. 

What are the Different Travel Suppliers?

Hotels are crucial suppliers for corporate travel. They provide rooms for employees traveling for business. Major hotel brands offer many valuable amenities for business travelers. These include workspace areas in rooms, fast internet, lounges for working, and meeting rooms for events/gatherings.

Transportation suppliers are also essential. Rental car companies let business travelers have temporary vehicles at their destinations. This allows freedom and convenience to get around. Ride-share services provide local transportation through an easy mobile app.

Air travel is likely the most critical supplier for corporate travel programs. Airlines make it possible for employees to travel internationally and across long distances quickly. In-flight amenities like Wi-Fi and extra legroom in premium seats allow employees to work productively.

Corporate travel technology companies are becoming increasingly vital suppliers too. Their software platforms allow companies to book travel, manage policies, track spending, and give mobile tools to employees. This technology streamlines logistics and ensures corporate travel is handled properly. It provides data insights as well.  

Travel Management Platform

A travel management tool is one of the best travel supplier optimization tools. It connects directly to all other travel suppliers, including hotels, airlines, rental cars, and more. With a travel management tool, you only need one solution, consolidating everything into one place. 

Booking is easy and efficient through the tool. Everything is compared side-by-side for the best options. After booking, you manage all your reservations together. Receipts, confirmations, and details are in one spot.

Travel supplier optimization tools offer great convenience. They save you time and hassle. There is no need to visit multiple websites and apps. Companies use them to book business travel easily. They work great for personal trips. Prices are competitive across suppliers.

These tools have useful features beyond booking. You can approve travel requests and expenses. Get alerts for delays, cancellations, and gate changes. Some have mobile apps for managing trips on the go. With strong security, your data is protected.

Must-have Travel Supplier Enhancements 

1. Centralized Booking Platform

A centralized booking platform allows the booking of all travel components like flights, hotels, rental cars, trains, and more through a single system. This saves tremendous time versus visiting multiple websites and apps for each supplier. Within the platform, users can easily compare rates, amenities, and policies across suppliers side-by-side. After booking, all reservations are consolidated in one place for simple management. Centralized booking platforms improve efficiency, visibility, and control over travel spending.

2. Approval Workflow Management

Approval workflow management is critical for companies to maintain control over travel spending. These tools allow fully customizable approval routing and hierarchy setup. Managers can quickly review and approve or deny requests. Policy controls are enforceable, preventing out-of-policy bookings. Such travel supplier enhancements ensure travel adheres to budgets and corporate policies. 

3. Cost Tracking and Reporting  

With all travel components booked and paid for through the optimization tool, rich data on travel spending accumulates in one place. This compiled data enables robust cost tracking and reporting capabilities that provide full visibility. Dashboards show costs by department, project, employee, and more. Reports reveal negotiating opportunities by highlighting underutilized rates and contracts. Businesses utilize these insights to reduce travel costs through benchmarking and supplier negotiations. 

4. Traveler Tracking

The key duty of companies is to ensure employee safety at all times. Travel optimization tools enable this duty of care through traveler tracking. As employees book trips, the tool records their itineraries and locations. The tool notifies designated personnel if delays, cancellations, or incidents occur. Some tools integrate with risk intelligence data, too. Companies can rapidly account for traveled staff in emergencies.

5. Integrated Expense Management

Having expense management tightly integrated into the travel optimization tool creates an end-to-end solution. 

Leading Travel Supplier Enhancements: itilite

Our corporate travel management solution already encompasses all these must-have features for optimizing travel suppliers. The platform provides a centralized booking tool connecting to global travel suppliers. It has customizable approval workflows and expense management functionality. 

Employees are always informed of changes in their itineraries. Their data is secured with robust security controls and regional compliance capabilities. Book a demo today.