As per the travel facts and figures published by U.S travel association, US companies spent $307.2 billion on business travel , which also includes expenditures on client meetings and other events. Around 457.4 million trips was traveled by US residents for business purposes during 2016, with 38% among them went for meetings and events. All this has led to the evolvement of corporate travel management(CTM) companies providing online solutions to the business travellers.
The CTM manages the entire travel itinerary for the employees of a particular company for their business visits, including their safety and security throughout the trip, Cash debit/credit management and Hotel check in and check out duration along with the expenses data management.
Some of the features provided by the CTM companies are as follows:
- Travel policy: Where all the expenses of the travel by flights railways or car rentals as well as lodging including the changes made during the travel as well as cancellations are paid by the WMF which makes available the best services in economical manner.
- Making reservations for flight , car , trains, hotels at reasonable rates.
- They provide mobile apps on order to track their travel progress, expenses incurred, payment requests, booking status, schedule of the trip along with that the last minute changes request can also be recorded.
- Entire travel schedule is made by the professionals with good experience in order to meet the budget requirements along with the convenience of the clients.
- The most important part of the corporate travel is Hotel location, clients demand the location nearby to their meeting places or business events along with the uptomark facilities with no compromise as they hate to waste time, in order to cope with this they have GDS as well as API integrated in the portals by any Travel Portal Development Company which shows them the economical rates for the business travellers.
- They generate the expenses report where company can review the expenses incurred as well as giving approval of the payment.
- Generates the report of bookings in excel as well as in PDF format.
- Monitoring transactions and keeping its record.
- Display of information along with its description.
- Managing the information of the tour
- They also provide the search engines to search and book their respective destinations
- Booking as well as travel arrangements for the corporates and VIPs of the sports industry, along with the arrangements of award ceremonies, team dinner, photography sessions etc.
- In order to maintain large bookings they have bulk upload tool, which saves time.
- They have shift management tool which manages the FIFO travellers in terms of Flights, Transportation and accommodation.
- They also provide app which will track the travellers movement, also the it provides the risk levels in the map and helps in providing information to the traveller regarding the situation. It is the important application which ensures security and safety of the traveller.
- Risk management system to alert the traveller about the potential risks
It is not like the traditional Travel Agencies .The Travel agencies will provide the general travel services to corporate clients, But they have to provide service according to the corporation’s policy . The Travel agency on the other hand makes the reservation within these above parameters prescribed by the corporation.