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Benefits of Using a Travel Management Company for Your Business
A travel management company handles corporate travel logistics, utilising advanced technology to secure the best deals and ensure policy compliance. travel management platforms offer benefits such as streamlined travel arrangements, cost savings, centralised data, and 24/7 support. They automate expense tracking and provide rewards for frequent travellers. These platforms are valuable for businesses of all sizes, enhancing efficiency and employee satisfaction.
If the employees in your organisation frequently go on business trips, making travel arrangements for them can seem like a full-time job. A travel management company can take over most aspects of planning business travels provide many benefits, as discussed in the article below:
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Benefits Your Business Can Reap from a Travel Management Company
What is a Travel Management Company?
A travel management company is basically a one-stop travel agency catering to businesses. They arrange corporate travels for businesses of all sizes and needs.
How do travel management companies work? These platforms use advanced technology to find the best deals on flights and hotels while adhering to your company's travel policy. They take care of all travel logistics, provide customer support, and even make reimbursements smooth.
By handling end-to-end business travel management, a travel management platform helps ensure employee satisfaction, policy compliance, and good budget control.
What Are the Benefits of Using a Travel Management Company?
A travel management platform is valuable to companies for a number of reasons.
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Streamline Travel Arrangements
A travel management platform is a tech-first company. It uses automation and machine learning algorithms to make travel booking convenient and customised. Employees or travel managers get a centralised booking platform to book flights, hotels and cab rentals. As various travel services are available on a single platform, the booking process becomes easy and smooth. It also saves employees time on finding flights, hotels and transportation rentals online.
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Better Prices/More Cost Savings
Everyone loves a good travel deal. But finding one can be time-consuming. Through their relationships with well-known airlines, hotel chains and cab rental providers, travel management platforms are able to provide better deals on flights, hotels, and car rentals. By using a comprehensive travel tool, your organisation can cut down on business travel costs without sacrificing travel comfort or safety.
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All the Data in One Place
Business travel data is a source of valuable insights into travel trends, expenditures and traveller behaviour. The information can help you identify cost leakages, improve travel experiences and optimise your travel policy. A travel management platform provides the insights needed in one place, helping you conduct the necessary analysis and make informed decisions.
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Policy Compliance
One of the biggest benefits of using company travel management services is ensuring compliance and getting timely alerts for any violations. Travel management platforms use automated systems that allow bookings and expenses based on your company's travel policies. They ensure that unauthorised spending is kept in check and there are no deviations from your travel policy.
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Travel Assistance
When unexpected issues arise during business travel, employees must have support. A travel management platform offers a dedicated support team to resolve challenges employees may face during their business trip, such as:
- Flight cancellation
- Lost luggage
- Check-in issues
- Overbooked hotel rooms.
An ideal travel management platform generally offers 24x7 support. Employees can rest assured that they have help in case of any issue they're unable to tackle on their own.
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Automate Expense Tracking
Sophisticated travel management software integrates travel booking with employee expense management. The software automatically tracks and captures trip expenses. Employees can effortlessly upload receipts and the system will categorise and report expenses. By utilizing such integrated travel and expense management solutions, you can do away with manual efforts and avoid the errors that tend to creep in.
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Make Business Travel Rewarding
The best business travel management companies reward business travellers for their continued patronage. Employees accrue reward points and save more with loyalty memberships and frequent flyer miles. Such incentives encourage responsible spending and ensure employee satisfaction.
Business travel creates opportunities to build stronger relationships with clients, partners and colleagues. However, making travel arrangements is complex and time-consuming. It's why you need to partner with a travel management company in India.
myBiz is a leading travel management platform simplifying business travel for businesses across sizes and sectors. This platform is easy to use on desktop and mobile devices and one can start using myBiz in just three simple steps. Why not try myBiz with a free demo to understand if it's a good fit for your needs?
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Frequently Asked Questions
Q1. Can a travel management company help with international travel arrangements?
Ans. Yes, a travel management platform can help with business travel arrangements to international destinations. The travel management platform offers negotiated rates with suppliers, provides expense reports, customer support and other features available for domestic and international travel.
Q2. How does a travel management company ensure compliance with the corporate travel policy?
Ans. Once your company has created an account with an ideal travel management platform, you simply have to upload your travel policy. All travel bookings will be allowed based on the travel policy. Any discrepancies will be flagged and reported, thereby ensuring 100% compliance.
Q3. Can a travel management company handle cancellations and rebookings?
Ans. Yes, in case of any travel changes, your travel management platform will help adjust plans with minimal hassles and low cancellation charges. You can also rebook on the platform in the quickest possible time.
Q4. Can a small business benefit from using a travel management company?
Ans. Absolutely! Even businesses with less than 50 employees can benefit from the expertise and resources of a travel management platform. If you're a small business, a travel management platform will save you substantial time for other business activities.
Related Blogs:
- • Corporate Travel Management - An Ultimate Guide for Business Travel
- • What is the Corporate Travel Policy? A complete Guide!
- • 10 Trip Management Tips for Successful Business Travel
- • 5 Effective Business Travel Management Tools
- • Business Travel: Its Significance & Impact on Your Bottom Line
- • 9 Key Features of Top-Notch Travel Management Systems
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Our features and benefits are curated to suit the needs of every employee using myBiz.
Travel Managers
Who manages company's travel expense
Simplified Admin Panel to manage all employees and their expenses
Detailed reports on regular basis to keep a track on your spends
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Central Bookers
Who books for employees
Book using the traveller's Policy to ensure the right options are booked
Shortlist & share travel options to employees directly from myBiz
Track your requests & get the job done from one single place
Employees
Who travel for business
Special Corporate Fares in flights to ensure you get more benefits at reduced price
myBiz Assured Hotels for top-rated stay options
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Case Studies
myBiz powers many of the small, medium & large size organisations to help them save on their travel budget and achieve more from their business travels. Read interesting stories from these organisations.
Sattva Consulting, Delhi
Bajaj Finserv, Bangalore