Why Work With a Corporate Travel Management Company in 2022

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Why Work With a Corporate Travel Management Company in 2022

Post-pandemic corporate travel will make a slower return as compared to the leisure travel industry. That’s one thing we learned after the COVID pandemic brought the entire travel industry to a standstill.

Corporate travel spending is projected to reach two-thirds of the pre-pandemic travel expenses by the end of 2022. Thus, the industry is recovering, but not as fast as leisure travel.

People are expecting 2022 to be the first year without any pandemic concerns after the 2020-2021 crisis. However, they are still concerned about the high risk of COVID variants. It can be safe to assume that the business travel industry might experience slow growth in the coming year.

These business travel challenges need a professional corporate travel management company that can prepare businesses for when the corporate travel industry returns to normal. 

And that’s precisely why you should work with a corporate travel management company in 2022.

Reasons You Must Work With a Corporate Travel Company

The corporate travel industry will grow to $1.7 trillion by 2022, according to Condor Ferries.

The statistics show the importance of hiring a corporate management company that can oversee the business travel requirements. 

A corporate travel agency plans business trips, conducts corporate events, and reports travel expenses. The question is why you need to hire a travel agency instead of asking an in-house team to plan corporate travels for your company.

Let’s find out.

  1. Save money on your business travel
Source: https://satgurutravel.com/botswana/2018/05/30/ways-to-save-money-on-business-travel/

Around 1.3 million people travel for business purposes daily in America.

If your business involves regular corporate traveling, you can significantly cut the cost of business travel by hiring a corporate travel management company (TMC). 

Here’s how.

You pay the initial cost of adding a TMC to your company, in addition to the cost of the tools and technical gadgets they will use for managing your travel needs. However, this expense will pay for itself in less than a year.

The benefits of outsourcing a travel company outweigh the cost. A travel agent can buy airline tickets, get insurance, and make hotel reservations for a fraction of the cost. In addition, they get discounted deals, as they promote the airlines and hotels to their clients. 

The fee of a TMC is a lot less than the airline tickets and other travel expenses. So not only do they save you tons of money on flight booking, but they can negotiate the best insurance and hotel deals for you.

2. Enjoy efficient and smooth travel booking

Source: https://www.travelperk.com/travel-solutions/travel-booking/

Business travel is not only about booking the cheapest flight or finding a luxury hotel in the destination country. 

It’s a comprehensive process that involves travel expense calculation, travel reports, managing VAT and invoices, organizing travel programs; it’s a long list.

It is not leisure travel that needs prior flight and hotel reservations once or twice a year. Instead, you may have business travel needs every few weeks. So, travel management is important if you want to ensure a smooth travel experience. 

International travel booking can be confusing. Applying for a visa, booking flight tickets, and navigating the foreign travel policies is too much to handle for your in-house team. The last thing you want is to run between terminals to catch the flight. 

Besides, changes in the departure or arrival timing and delays due to weather can cause a lot of stress at the last minute. 

A corporate travel agency stays in touch with the international airports to keep up-to-date with the latest flight information. 

They handle the communication for you, giving you a smooth and hassle-free business travel experience. A travel agent is the first to know the changes in the flight timings, status, and other travel-related updates. They also send you the updated travel details if required.

3. Get 24/7 support

Businesses cancel the flight if it does not fit in their travel schedule. Flight and accommodation cancellation can cost you hundreds of dollars. Whether or not you get a refund on cancellation depends on when you cancel your bookings. 

For example, if you cancel your flight at the last minute, the company won’t issue any refund. Similarly, what if you reach the airport only to discover that the flight has been delayed or canceled? 

The biggest advantage of working with a corporate travel management company is that you can expect 24/7 support from the agent and immediate assistance whenever needed. Even if your flight departs at midnight, you can count on your travel agent to be available for your help if needed.

In fact, some travel agencies have a response time of 15-30 seconds. So, you don’t have to wait for hours to get in touch with the agent. If there’s an issue with the flight, you can call the corporate travel company and get your answers within seconds. 

Quick response, seamless communication, and convenience are a few qualities that make a professional corporate travel company worth it.

4. Get the most suitable accommodation

Whether you are traveling for a few hours or staying for two to three weeks, you need convenient accommodation to execute your business activities as comfortably as possible.

The corporate agent does not only book flight tickets and organizes business events. They are also responsible for finding the cheapest yet most comfy hotel in the international country. 

They are connected to the best motels, guest houses, and luxury resorts where you can have a fantastic stay experience for a very reasonable price. 

You get a good stay at reasonable prices and a hassle-free travel experience. What else do you need? 

Only a corporate travel agent can find you the best hotel deals no matter where you are flying.

Despite the several benefits, only 14% of business travelers book hotels with travel agents. 

The rest of them do not mind the hassle of exploring different hotels, finding the cheapest and most comfortable accommodation, and a place that’s located close to their work location.

5. Easy to find

According to a report by Statista, the travel agency business in the US is worth 34.64 billion in 2021.  

This clearly shows the demand for leisure and corporate travel in America. Not only in the States, but the demand for business travel has skyrocketed all over the world.

This growing corporate travel demand has also extended the scope of the corporate travel agency business. 

Now, an increasing number of businesses are looking for corporate agents to plan their international trips, book the best hotels, arrange corporate events, and manage travel expenses and reports efficiently. 

It has become easier to find a corporate travel agent, more now than ever. Websites like TravelPerk help companies find the best and most reliable business travel agencies. 

If you face any difficulty finding an affordable and experienced travel agent, check out TravelPerk’s guide to corporate travel agencies and learn about what you should look for in a corporate travel company.

Check out the websites of the top ten travel agencies and narrow down your options to the top three after research. Then, call each agent for a quote and hire a company that charges the lowest fee while offering the best services.

6. Keep up-to-date with the latest travel trends

Source: https://www.pegs.com/blog/10-travel-trends-to-watch-out-for-in-2019

A travel agent can keep you up-to-date with the current trends in the corporate travel industry. 

For example, when is the best time to book flight tickets or is there any chance the particular flight might get delayed or canceled, and information on international travel policies.

They can also help you create the travel expense report to get a clear picture of your corporate travel spending. You can use this information to cut costs on travel and make it more efficient for your employees.

7. Ensure travel policy compliance

Source: https://www.travelperk.com/blog/business-travel-compliance-what-does-compliance-mean/

Travel policy compliance issues are not uncommon among business travelers. Your employees could be booking a business class flight ticket just to enjoy a comfortable flying experience, even if it goes against your travel policy.

A travel agent can help you avoid any kind of compliance issues. It’s easier to track your policy compliance reports when you have the travel records of each employee. 

A corporate travel agent company plans business trips for you and records every travel transaction. They keep every small detail in their database to facilitate easy and smooth data management for you. 

Failure to comply with the travel policy can cost your business thousands of dollars in the long run. Creating a travel policy is pointless if you are not able to track who’s violating the rules. The best thing you can do is hand this job to a corporate travel agent. 

Conclusion

Hiring a corporate travel company is the best decision for any business—whether you are running a small business or a large corporation. 

A professional travel agent can get just about any travel-related task done, from saving money to tracking business travel expenses. 

The tips mentioned above will help in making your next business trip smooth and cost-effective. 

Have a happy and safe journey! 

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