Learn the definition of a travel management company, also known as a corporate travel company or business travel agent.
Welcome to the first in a new series of informative blogs, detailing the sometimes simple, sometimes baffling jargon of the business travel world.
The Diversity Dictionary will help you build up your knowledge and understanding of business travel, from Academic fares to visa support and everything in between.
Our first entry in the dictionary is a fundamental: travel management company.
A travel management company (TMC) is an organisation that helps businesses and institutions manage, improve and understand their travel programme. Typical services offered by travel management companies include:
Offline travel booking – Dedicated teams of travel consultants, usually with years of experience to call upon, available on the phone and via email to advise on travel solutions and book for customers.
Online travel booking – Allowing customers to simply login to an online portal and book their own travel.
Account Management – Travel management experts, account managers identify trends in business travel, advise on MI, address and resolve any issues and help customers save money on their travel spend.
Management Information (MI) – TMCs should offer comprehensive management information and reporting, allowing customers to better understand how, where and by whom money is being spent.
Duty of care assistance – Using MI and travel technology together, TMCs help customers keep track of who is travelling where and when, making sure they are in touch in an emergency and bringing them home safely should they be affected.
Negotiated rates – TMCs negotiate directly with the major travel and accommodation suppliers to provide customers with special rates, offering benefits such as decreased costs, extra baggage allowances, reduced cancellation fees etc.
Travel technology – Many TMCs offer their own travel technology, such as travel apps that provide customers with all of their travel information, travel updates, reminders and other notices such as weather news – keeping them in the know wherever they are.
TMCs, which are also known as business travel agents, can be generalists who try to cater to the needs of any organisation, or specialists, who are experts in particular fields (e.g. Diversity Travel, who focus on Charity, Not-For-Profit and Academic institutions.)
To find out more about travel management companies or business travel in general, get in touch with our team of friendly experts via the channels below.
Telephone: 0161 235 5402
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