Working with a TMC
What is a Travel Management Company?
A travel management company (TMC) assists with the day-to-day operations of your business travel program, and provides your company with services and tools that help streamline both expenses and travel management to improve the efficiency of your travel program.
The Benefits of Working with a Travel Management Company
A TMC gives you access to reporting that helps you see exactly how much teams are spending with comprehensive insights and monitor overall savings against policies. On top of that, TravelBank offers a proprietary budget calculator that uses real-time market rates, not just historical data, to create benchmarks and forecast budget needs with increased accuracy.
A TMC can help you implement a travel policy that fits the unique needs of your team, and increase compliance to policy. Additionally, TravelBank provides transparency by giving employees a budget, and explanations for it, driven by the policies created by your finance team in the platform. This transparency leads to employee happiness, reduced costs, and accountability.
A TMC can offer one place for employees to book all of their business travel, which is especially helpful as your travel program grows and corporate travel policies become highly nuanced. The TravelBank app was developed to offer a modern, easy to use experience that spans the entire travel and expense management experience.
When you work with a TMC, your team gains access to a dedicated support team, saving them from the time and stress involved in handling travel issues on their own. At TravelBank, we function as the agent of record for all booking and ticketing, which means you won’t be turned over to a third-party customer service organization.
Centralized Expense Management
Through a TMC, your organization has one point of contact and one agreement for both travel and expenses. While many TMCs license software to provide expense management services, the TravelBank app was built in-house and includes product support for your employees, managers, and company admin.
Partnering with a TMC can provide your company with significant savings through negotiated rates on hotels and flights, typically reserved for large corporations. Travelbank takes cost savings to the next level by offering companies a 1% cash back on travel bookings and a rewards program that incentivizes employees to stay under budget.
As your company grows, a TMC can help ensure that your travel program and policies continue to grow with it and address your changing needs.
Do You Need a Travel Management Company?
No matter the size of your organization, working with a TMC to turn your unmanaged travel program into a managed travel program helps increase visibility and control, provides employees with a one-stop shop for booking travel and managing expenses, gives you access to dedicated concierge-level support, and increases company savings.
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