{"id":5563,"date":"2022-06-09T08:20:12","date_gmt":"2022-06-09T08:20:12","guid":{"rendered":"https:\/\/www.itilite.com\/?p=5563"},"modified":"2024-11-27T10:41:57","modified_gmt":"2024-11-27T10:41:57","slug":"all-about-travel-management-company","status":"publish","type":"post","link":"https:\/\/www.itilite.com\/in\/blog\/all-about-travel-management-company\/","title":{"rendered":"What is a Travel Management Company?"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<figure class=\"wp-block-image size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" width=\"512\" height=\"268\" src=\"https:\/\/d1ss4nmhr4m5he.cloudfront.net\/wp-content\/uploads\/sites\/3\/2024\/11\/27103241\/Travel-Management-Company.jpg\" alt=\"Travel Management Company\" class=\"wp-image-162456\" style=\"width:840px;height:auto\" srcset=\"https:\/\/d1ss4nmhr4m5he.cloudfront.net\/wp-content\/uploads\/sites\/3\/2024\/11\/27103241\/Travel-Management-Company.jpg 512w, https:\/\/d1ss4nmhr4m5he.cloudfront.net\/wp-content\/uploads\/sites\/3\/2024\/11\/27103241\/Travel-Management-Company-300x157.jpg 300w, https:\/\/d1ss4nmhr4m5he.cloudfront.net\/wp-content\/uploads\/sites\/3\/2024\/11\/27103241\/Travel-Management-Company-360x188.jpg 360w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/figure>\n\n\n\n<p>The global business travel market is on the rise. According to a study by Statista, the corporate travel industry will grow by 188 percent by 2028. Hence, companies are seeking ways to accommodate the increased travel volume efficiently.<\/p>\n\n\n\n<p>One way to manage your organisation\u2019s increasing travel needs is to hire a good Travel Management Company (TMC). A TMC is an organisation dedicated to managing your company\u2019s complete business travel needs. Unlike the traditional travel agent, a TMC\u2019s services go above and beyond booking flights and hotels.<\/p>\n\n\n\n<p>Let\u2019s understand what a TMC is in detail. We will also examine its advantages and the significant differences between a TMC and a travel agency.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What Does a Travel Management Company Do?<\/h2>\n\n\n\n<p>A business TMC provides services ranging from consolidating online booking and expense reporting to <a href=\"https:\/\/www.itilite.com\/in\/blog\/mastering-travel-risk-management-with-itilite\/\" target=\"_blank\" rel=\"noreferrer noopener\">travel risk management<\/a>. It aims to help your organisation simplify the business travel management process.<\/p>\n\n\n\n<p>A TMC can help you create and implement a cost-efficient travel policy. It also provides auxiliary services like car rentals, business trip insurance, etc.Another advantage offered exclusively by advanced travel management companies is in-depth travel data insights. Such insights help <a href=\"https:\/\/www.itilite.com\/in\/travel-managers\/\" target=\"_blank\" rel=\"noreferrer noopener\">travel managers<\/a> fix cost leakages and optimise travel ROI.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Difference Between a Travel Management Company and Travel Agency<\/h2>\n\n\n\n<p>A travel agency is primarily focused on assisting clients with flight and hotel bookings. Such agencies may occasionally offer special services to clients. However, the extent of their travel management services is far less than a TMC.&nbsp;<\/p>\n\n\n\n<p>On the other hand, a best travel management company assists businesses with end-to-end <a href=\"https:\/\/www.itilite.com\/in\/business-travel-management\/\" target=\"_blank\" rel=\"noreferrer noopener\">business travel management<\/a>.<\/p>\n\n\n\n<p>TMCs services include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Assistance in travel policy formulation<\/li>\n\n\n\n<li>Streamlined booking with travel policy-compliant options<\/li>\n\n\n\n<li>Aid for <a href=\"https:\/\/www.itilite.com\/in\/blog\/are-you-ready-to-win-with-the-duty-of-care-in-travel\/\" target=\"_blank\" rel=\"noreferrer noopener\">duty of care travel plan<\/a><\/li>\n\n\n\n<li>Itinerary management<\/li>\n\n\n\n<li>Risk management<\/li>\n\n\n\n<li>Expense insights<\/li>\n\n\n\n<li>Consultation regarding travel process optimisation<\/li>\n<\/ul>\n\n\n\n<p>Another critical difference between a travel management agency and a TMC lies in customer support. A travel agency may not provide emergency assistance in case there is a sudden change in the itinerary. Additionally, a travel agency may not be able to provide support after official working hours.\u00a0In contrast, a TMC helps you before, during, and after the business trip. For instance, if your <a href=\"https:\/\/www.itilite.com\/in\/blog\/corporate-travel-tips-to-handle-flight-cancellation\/\" target=\"_blank\" rel=\"noreferrer noopener\">flight gets cancelled<\/a> or delayed, you can reach out to the TMC\u2019s support team.<\/p>\n\n\n<p><a data-toggle=\"modal\" data-target=\"#blogfreedemo2\"><img decoding=\"async\" src=\"https:\/\/6378157.fs1.hubspotusercontent-na1.net\/hubfs\/6378157\/hub_generated\/resized\/d2fe2757-6e18-480c-af1c-5d6247f9fc2d.png\"><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why Do you Need the Best Travel Management Company<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-to-increase-efficiency\">1. To Increase Efficiency<\/h3>\n\n\n\n<p>A TMC with a modern <a href=\"https:\/\/www.itilite.com\/in\/blog\/choose-travel-management-system\/\" target=\"_blank\" rel=\"noreferrer noopener\">travel management system<\/a> can help you automate your travel management process.<\/p>\n\n\n\n<p>With such tools, your employees can book flights, hotels and other travel-related services themselves. Moreover, they get customised options. Such options ensure that they no longer have to sift through multiple third-party websites to find the best-suited flights and hotels. Additionally, your finance team can get valuable insights into your employees\u2019 spending habits. This can help them control travel costs and modify travel policy if required.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-to-optimise-business-travel-management-policy\">2. To Optimise Business Travel Management Policy\u00a0<\/h3>\n\n\n\n<p>Instances of travel policy violations increase if your employees don\u2019t understand the policy guidelines or find them impractical to follow.&nbsp;<\/p>\n\n\n\n<p>With the help of a business travel management company, you can create a better <a href=\"https:\/\/www.itilite.com\/in\/blog\/a-comprehensive-guide-on-corporate-te-policy-free-template\/\" target=\"_blank\" rel=\"noreferrer noopener\">T&amp;E policy<\/a>. You can be sure to include travelling employees\u2019 comfort and your organisation\u2019s needs. Improving your <a href=\"https:\/\/www.itilite.com\/in\/blog\/draft-corporate-travel-policy\/\" target=\"_blank\" rel=\"noreferrer noopener\">business travel policy<\/a> will ensure better compliance and help you achieve your corporate travel goals.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-to-reduce-business-travel-costs\">3. To Reduce Business Travel Costs<\/h3>\n\n\n\n<p>Businesses struggle to keep their travel costs in check. This is because travelling employees often make out-of-policy flight and hotel bookings. Moreover, they might also spend above their <a href=\"https:\/\/www.itilite.com\/in\/blog\/all-about-per-diem-in-us\/\" target=\"_blank\" rel=\"noreferrer noopener\">per diem allowances<\/a>, and file out-of-policy expenses.\u00a0<\/p>\n\n\n\n<p>Although using a travel management system is expensive, the benefits outweigh the costs. A TMC can provide you access to various flights and hotels at negotiated rates. Additionally, you can get travel management services like VAT recovery, which can help you save significant <a href=\"https:\/\/www.itilite.com\/in\/blog\/reduce-travel-costs-business\/\" target=\"_blank\" rel=\"noreferrer noopener\">business travel costs<\/a>.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-to-get-travel-spend-insights\">4. To Get Travel Spend Insights<\/h3>\n\n\n\n<p>Understanding your employees\u2019 spending habits is essential for multiple reasons. It can help you figure out cost-heavy and saving-heavy departments. You can also find out which employees are top spenders and the reasons behind those expenses. This can help you discover loopholes in the travel expense management process and determine any policy changes if required.&nbsp;<\/p>\n\n\n\n<p>An advanced TMC like itilite, can help you gain insights into your employees\u2019 spending habits. itilite offers the world&#8217;s first <a href=\"https:\/\/www.itilite.com\/in\/mastermind\/\" target=\"_blank\" rel=\"noreferrer noopener\">virtual travel consultant<\/a>\u2013 Mastermind. The AI-based <a href=\"https:\/\/www.itilite.com\/in\/blog\/what-is-a-corporate-travel-consultant\/\" target=\"_blank\" rel=\"noreferrer noopener\">corporate travel consultant<\/a> can help your business travel management company identify and fix cost leakages by:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Analysing past travel data<\/li>\n\n\n\n<li>Conducting industry benchmarking<\/li>\n\n\n\n<li>Suggesting actionable steps you can take to fix unnecessary leakages<\/li>\n<\/ol>\n\n\n\n<p>To get a first-hand experience of Mastermind, click on the button below.<\/p>\n\n\n<p><a data-toggle=\"modal\" data-target=\"#blogfreedemo2\"><img decoding=\"async\" src=\"https:\/\/6378157.fs1.hubspotusercontent-na1.net\/hubfs\/6378157\/hub_generated\/resized\/0a5b1df9-605e-45c7-89af-1963460b8d43.png\"><\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-5-to-benefit-from-concierge-services\">5. To Benefit from Concierge Services<\/h3>\n\n\n\n<p>There are specific added requirements for any business trip like airport lounges, VISA services, etc. The travellers have to look through multiple websites and go through confirmation emails.&nbsp;<\/p>\n\n\n\n<p>A TMC manages all the concierge services on your behalf. You get the best prices and services without any additional stress.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-6-to-avail-24-7-assistance\">6. To Avail 24\/7 Assistance<\/h3>\n\n\n\n<p>Business travel is full of uncertainties, and your employees might need assistance to accommodate any last-minute changes. For instance, travellers may be unable to check in and out of the hotel because of some document-related issue. In such cases, they need prompt support to ensure resolution.<\/p>\n\n\n\n<p>A business travel management company provides multiple active channels around the clock for the employees to get in touch in an emergency. Additionally, an advanced TMC can also provide AI-based chatbots to solve routine problems outside office hours.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What to Expect from a Good Business Travel Management Company?<\/h2>\n\n\n\n<p>An ideal TMC should deploy state-of-the-art technology. This will help you improve every aspect of your travel process such as booking, approvals, <a href=\"https:\/\/www.itilite.com\/in\/blog\/importance-of-travel-policy-compliance\/\" target=\"_blank\" rel=\"noreferrer noopener\">travel policy compliance<\/a>, and support.<\/p>\n\n\n\n<p>This is what we do at <a href=\"https:\/\/www.itilite.com\/in\/\" target=\"_blank\" rel=\"noreferrer noopener\">itilite<\/a>. Our integrated travel and <a href=\"https:\/\/www.itilite.com\/in\/expense-management\/\" target=\"_blank\" rel=\"noreferrer noopener\">expense management software<\/a> can help ease your employees\u2019 booking experience by providing customised travel policy-compliant options. Moreover, we provide 24\/7 free assistance for employees in case of emergencies. We can also help you create a comprehensive travel policy and duty of care plan.<\/p>\n\n\n\n<p>To know more about how we can help boost the efficiency of your travel process, get in touch with us.<\/p>\n\n\n<p><a data-toggle=\"modal\" data-target=\"#blogfreedemo2\"><img decoding=\"async\" src=\"https:\/\/6378157.fs1.hubspotusercontent-na1.net\/hubfs\/6378157\/hub_generated\/resized\/62149873-7ddf-4a0b-aa50-07a46e2553dc.png\"><\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Let&#8217;s learn about travel management company in detail.<\/p>\n","protected":false},"author":12,"featured_media":162456,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[18],"tags":[21],"class_list":["post-5563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-travel-management","tag-corporate-travel-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.6 (Yoast SEO v25.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>All You Need to Know About Travel Management Company<\/title>\n<meta name=\"description\" content=\"Know more about what is travel management company, what it does, difference between TMC and travel agency, why TMC required and other details.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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During her college years, she channeled her love for food into action by opening a cafe, showcasing her entrepreneurial spirit as well."}]}},"_links":{"self":[{"href":"https:\/\/www.itilite.com\/in\/wp-json\/wp\/v2\/posts\/5563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itilite.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itilite.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itilite.com\/in\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itilite.com\/in\/wp-json\/wp\/v2\/comments?post=5563"}],"version-history":[{"count":0,"href":"https:\/\/www.itilite.com\/in\/wp-json\/wp\/v2\/posts\/5563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.itilite.com\/in\/wp-json\/wp\/v2\/media\/162456"}],"wp:attachment":[{"href":"https:\/\/www.itilite.com\/in\/wp-json\/wp\/v2\/media?parent=5563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itilite.com\/in\/wp-json\/wp\/v2\/categories?post=5563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itilite.com\/in\/wp-json\/wp\/v2\/tags?post=5563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}