“Price is what you pay. Value is what you get.” – Warren Buffett
In an increasingly interconnected global business environment, expert travel management is playing a growing role in the majority of corporations today. Measurable contributions to the bottom line realized through cost control, policy adherence, and an efficient travel program, have shifted travel management to become a specialized business function. This function forms an integral part of a firm’s strategic financial planning, increasing the value of travel management within the corporate structure. It has never been more important than today!
Relationships are the key to successful travel management, and can have a significant impact on cost avoidance and control. Through the use of globally negotiated rates, preferred suppliers, and volume-based discounts, an expert travel manager is able to maximize their clients’ travel spend. Furthermore, by gaining an understanding of their clients overall travel needs, as well as analyzing current expenditures, further cost-cutting opportunities and practices can be recognized and implemented. By striving to cut costs, analyzing and reporting savings, a professional travel manager can provide endless financial benefits to the corporate client.
The development of a sensible travel policy is another way in which a corporate client can reap the financial rewards of using an expert travel manager. Working directly with their clients’ management team, the travel manager can assist in creating a policy that will optimize travel budgets, while ensuring employees adhere to the policy. By ensuring corporate employees use only those rates and suppliers set out within the policy, a corporate client will avoid bookings with less value, thus contributing directly to the bottom line.
When a corporate client chooses to work with a travel manager, they eliminate a number of inefficiencies that arise from internal travel management. With an expert travel manager at the epicenter of all corporate travel arrangements, the corporate client is ensured of a streamlined travel process that maximizes business objectives, increases productivity, and reduces risk. Employees will no longer spend their valuable time searching for flights and hotels, which ultimately do not capitalize on time away from the office, or travel spend. Alternatively, this productive capacity can be redirected towards value increasing projects, and business objectives. Using a central travel management team also ensures greater compliance to travel policies and the financial benefits that flow from implementing such programs.
Lastly, the expert travel manager’s in-depth industry knowledge, and awareness of global events are essential to reducing the corporate clients’ risk. It is this knowledge that enables the corporate travel manager to extend emergency assistance to employees on the road while working to get them home quickly and safely.