Economic challenges have made corporate travel management an important element of a sound financial strategy. In some instances, corporate travel can be one of a company’s major business expenses, one that may be controlled through effective travel management.
Travel agents ordinarily enquire about your travel needs and travel budget and then find the best deals which meet your requirements. However, for many companies, engaging the services of a specialist in corporate travel management can lead to substantial savings and produce non-monetary benefits.
How to get the most from every trip
Ticket search facility
Travel suppliers compete with one another by offering the best prices for a variety of packages, each aimed at different types of travellers. With a wide range of trip options available to you, professional advice becomes necessary to ensure that your company obtains the best value for money.
Your corporate travel agent will initially gather information about your travel needs, purposes, preferences and budget. Upon learning your requirements, your travel consultant will then use sophisticated software for finding websites which offer the cheapest fare for a given itinerary. Using travel management tools, trip options are quickly compared in less time that it usually takes a traveler.
Price is not the sole factor in travel management, as your travel agent will ensure that travel arrangements meet company preferences for a problem-free journey.
Travel insurance advice
Travel insurance is important in business because it can cover costs incurred for a cancelled trip due to certain circumstances that occur prior to departure, and while you or your employees are travelling. While serious and minor incidents can happen during a business trip, even the minor ones can lead to significant losses which can be minimised by insurance cover.
Corporate travel agents can source the best insurance coverage at favorable premiums and arrange travel insurance for their business clients.
It is possible to purchase travel insurance upon payment of the deposit of a trip’s costs. Many agents recommend buying travel cover at this time as protective coverage starts upon payment of the premium, even if departure occurs much later.
The terms of insurance covers vary depending on the type of policy obtained and the insurer. Corporate travel agents will remind clients about important requirements which can speed up possible insurance claims such as keeping proof of ownership and receipts of goods purchased during travel, and recording of the events leading up to the loss.
Visa requirements
A Visa is a document showing the permission for a non-citizen to enter, pass through or remain in a particular country. Without the appropriate visas, travellers may be deported or disallowed entry, leading to waste of company resources. Corporate travel agents can provide essential information on visa requirements, issue visa application forms, and use special visa courier services to streamline the process.
Corporate travel management professionals will often keep a record of the clients’ passport and visa details, including expiry dates, and check their validity upon booking enquiry.
Travel health
Falling ill or requiring medical assistance in a foreign country can be difficult and time-consuming for business travellers, unless they have easy access to contact information for local medical services providers. Corporate travel agents can often refer a local medical service, and provide tools and tips for best travel health practices.
Negotiated discounts
Travel costs can be trimmed through early planning as timing and trip volume bear significant impact on price quotations of travel suppliers. Companies ordinarily determine their travel budget during the annual strategic planning session. Armed with the annual travel budget, a travel agent often have the ability negotiate discounts and preferred rates with travel suppliers. Moreover, they can negotiate other travel-related services, monitor and analyse travel expenses to help companies implement cost-cutting measures.
Travel safety and efficiency
Every destination has unique circumstances that every traveler must be aware of, for increased safety. Knowing what to expect during a trip enables a business traveller to anticipate challenges which may reduce productivity. Corporate travel agents are good sources of information and can readily provide safety tips and travel advisories for particular locations.
Flight advice
Airline companies can observe different flight rules which passengers are obliged to follow under the terms of their contract of carriage which may be found on their travel tickets. Airports can also have unique terminal rules unknown to the new traveller. Not everyone takes the time to read the fine print and travel agents can help by providing advice on:
- check-in times
- minimum connecting times for flights
- booking transfers and
- other arrangements for smooth travel
- Improved efficiency at work
Some corporate travellers make their own travel arrangements through the Internet, often on company time. In other situations, specific company staff may be charged with the responsibility of managing travel bookings, resulting in them having to pause from their usual duties.
A corporate travel agent can free office employees and corporate officers from this task and ensure that travel arrangements are consistent with company travel policies and have been negotiated at the best prices. By outsourcing this function, employees can focus on their work while the company experiences substantial savings.
Protection under Travel Compensation Fund (TCF)
Certain travellers may be compensated by Australia’s Travel Compensation Fund, in case they suffer losses as a result of the financial collapse of a participating travel business. A travel agent must be a licensed participant of the TCF for the Fund to compensate financial losses arising from the travel agent’s failure to account for amounts paid by clients for their travel arrangements.
In these challenging economic times, more than ever, companies need to learn the best ways of managing travel costs, and the productivity of their staff and officers. Delegating the task of finding and putting together a trip itinerary to a professional corporate travel agent not only allows staff to focus on their core competencies, but also leads to financial benefits.