A Travel Management Company (TMC), manages Business Travel for client companies. It is the process by which the travel requirements of the corporate Clients are taken care of, in the day to day environment. The TMC usually handles air travel and hotel bookings, as well as car hire and other ground arrangements. They take the process from booking, right through to ticketing, or the issue of required service vouchers. With some clients a TMC may go into handling of Conferences and Incentive Travel, using specialised sections within their own organisations.
The objective of the TMC is to continually work on, and achieve savings on the Travel and Entertainment budgets of their clients. They do it though a process of consolidations and negotiations with the service providers involved, be they airlines, hotel chains or other service providers.
Negotiation is another key feature of a Travel Management Company. They are always skilled negotiators and continuously negotiate on behalf of their corporate clients.
Measurement requires efficient Information Technology. TMCs, employ a high level of automation and produce regular Management Information reports (MIR), for the purpose of measuring, evaluating and negotiations.
The onslaught of Covid-19 has been relentless. Air Travel has taken its mightiest blow ever in the history of post-war Civil Aviation. It created an almost complete lockdown for the Industry in terms of International Travel. The good news is…