Travel management 101: Unpacking the basics of business travel
Travelling for business isn't just a matter of hopping on a plane — it's a carefully planned journey that demands precision and reliable support. As the world of corporate travel continues to expand, so does the necessity for effective travel management and dedicated assistance.
That's why Corporate Traveller has put together this guide. Packed with essential insights and practical advice, we'll explore everything from the basics of business travel management to the advantages of the right travel management software solutions.
Whether you're a budding travel manager or a seasoned business leader seeking to refine your travel program, this guide will be your compass through the complexities of corporate travel management.
Contents
- What is corporate travel management?
- What is a corporate travel manager?
- What is a travel management company (TMC)?
- Managed vs. unmanaged business travel
- What is corporate travel technology?
- What is a corporate travel management system?
- 5 key components of an effective corporate travel management program
What is corporate travel management?
Corporate travel management involves strategically planning, coordinating, and overseeing various processes related to business travel. While each company in Australia has its unique approach to corporate travel management, the ultimate goal remains consistent: ensuring safe and efficient travel for employees within company policies and guidelines.
This encompasses tasks such as travel expense management, minimising travel risks, and ensuring compliance with the company's travel policy when making bookings.
Businesses in Australia navigate travel management through different avenues, including:
- Travel management companies (TMC)
- In-house travel manager(s)
- External travel agents
What is a corporate travel manager?
In Australia, a corporate travel manager is typically an internal employee responsible for overseeing the travel program and coordinating business trips for the entire organisation. They craft the corporate travel policy, manage duty of care (DOC) and risk management, and help navigate global business travel.
(Note: An external expert is known as a corporate travel agent)
Depending on company size, there may be a dedicated team of travel managers or the responsibility may fall on a single office manager or HR representative.
Their tasks include:
- Booking trips for employees across various roles
- Tracking departmental travel expenses to stay within budgets
- Providing travel support to employees throughout their journey
- Managing travel vendors or tools used by the company
- Negotiating corporate rates with frequently used hotels and accommodation
- Coordinating group travel and ground transportation, such as rental cars or trains
- Monitoring company travel spending and generating reports for analysis
What is a travel management company (TMC)?
A travel management company (TMC) is a specialised agency that helps businesses with managing their corporate travel needs.
Like travel managers, TMCs handle everything involved in business travel, from booking flights and hotels to ensuring employee safety and reviewing expense reports.
So, what sets them apart? The beauty of working with a TMC like Corporate Traveller is our all-in-one approach to travel management. We offer tailored services to simplify travel processes, cut costs, and make business travel easier for employees.
As your company's travel needs grow, managing expenses becomes more important. With Corporate Traveller, you can access discounts (thanks to our extensive global travel network), track spending, and save money — all online, from any device.
Managed vs. unmanaged business travel
Managed travel involves business trips supported by a TMC's services and expertise. Bookings are made through a dedicated travel manager or the company's online booking tool (OBT), and all details are compiled into a single report for easy review.
On the flip side, unmanaged travel occurs when an organisation handles its own travel arrangements. This might involve delegating tasks to a travel arranger or letting employees book directly through airline websites.
While unmanaged travel can seem appealing to some businesses, there's more to consider.
Is your travel program unmanaged? Explore our article on managed vs. unmanaged business travel to uncover key benefits of a managed program that you might be missing out on.
What is corporate travel technology?
Travel management software is like a specialised toolbox for companies to ace their travel game. It's software designed to streamline and automate every aspect of travel management, including:
- Travel booking
- Travel supplier management
- Approval workflows
- Corporate travel policy enforcement
- Expense management
- Reporting and analytics
These solutions aren't limited to desktops either; they also offer user-friendly mobile apps, empowering your travellers to handle their business trips independently.
In essence, this technology serves as a control tower, providing companies with full control, efficiency, and clear insight into their corporate travel management. Choose a solution that integrates seamlessly for optimal performance.
What is a corporate travel management system?
It's a comprehensive, flexible tech stack of interconnected software solutions that work seamlessly together for end-to-end travel management. This integrated system streamlines approvals, keeps employees connected, and enhances travel compliance.
By combining various software tools like online booking, expense management, and travel risk management, companies create a complete travel program that improves the traveller experience, cuts costs, and boosts compliance.
With this tech stack, companies gain better visibility into travel spending, track traveller behaviour, and make data-driven decisions to optimise their travel program.
5 key components of an effective corporate travel management program
Regardless of the organisation size, number of stakeholders, or software employed, an effective corporate travel management program typically consists of several key components.
1. Inclusive corporate travel policies
More than just a set of rules, your travel policy is the heartbeat of your travel program and company culture. It covers everything from who approves trips to how expenses are handled and who to call in an emergency.
Having a travel policy helps you:
- Keep costs in check
- Sort out reimbursements
- Compile a list of trusted and approved travel partners and vendors
- Manage your team's travel experience and safety
- Bid farewell to unwanted rogue bookings
- Keep tabs on budgets and reports
By centralising your travel program, your policy makes tracking and data management more efficient, saving you time and money. Plus, crafting an intentional and inclusive policy leads to happier business travellers.
2. The “right” corporate travel booking tool
Not all online booking tools (OBT) are created equal.
Look for a travel platform that helps you develop processes to simplify:
- Centralised booking - With Corporate Traveller's single sign-in portal, YOUR.CT, you can do it all from one place: plan trips, book flights, hotels, and meeting rooms, and manage business travel expenses hassle-free. No more password chaos; handle everything for your entire organisation with ease.
- Reporting and budget management - With easy synching to a range of systems (including Xero, ProSpend, Fraedom, Concur, Netsuite, MYOB), you can keep a close eye on your travel and expense budgets with Corporate Traveller. Monitor policy compliance, analyse travel patterns, and negotiate with suppliers effortlessly. Need more help? Our travel managers are ready to customise your reporting dashboard to help you track all the data you need.
- Supporting travellers on-the-go - Here's an insider tip: a corporate travel app is the key to smoother business journeys. Corporate Traveller's intuitive app can help your business travellers stay on top of their travel plans, receive notifications, check in for flights, request rides, chat with your travel manager, and upload expenses — all from their phone. It's never been easier!
- Approval workflows - Jump off the approval merry-go-round. With Corporate Traveller, you can set up customer approval workflows to make sure travel requests are routed to the appropriate managers for review. This will help your teams book their trips with ease, while staying compliant.
3. Consolidated reporting and expense management
Don't let your travel program get lost in a sea of data. Cut through the noise and consolidate your travel data with a single travel management company for:
- Centralised data management: Spot trends and opportunities to cut costs and enhance your program from one dashboard.
- Leveraging the right tools: With a TMC, you can access a suite of tools tailored for reporting everything from tracking travel spend to monitoring carbon emissions.
- Seizing savings opportunities: Companies often miss out on great savings opportunities when employees make bookings outside the approved channels. With consolidated travel data, you can identify these missed savings opportunities more effectively across bookings, travel providers or channels.
4. Corporate travel discounts and rates
Business travel can quickly eat into your budget if not managed wisely.
Corporate travel rates offer special deals from travel service providers, tailored to meet the needs of businesses. These rates provide access to more affordable options and exclusive perks, incentivising loyalty from companies like yours by offering you more value in the long run.
Why? Providers aim to offer businesses like yours attractive rates to secure ongoing business.
This includes discounts on air travel, hotels, car rentals, and rideshare accounts.
How can you benefit? Simple — opt for a comprehensive travel management package.
As Flight Centre Travel Group’s corporate brand, enjoy a wide range of choices while maximising your savings on business travel. With our extensive network spanning 90+ countries, we've got you covered with all the best rates.
5. Proactive duty of care
Duty of care means keeping your travellers safe and secure, both morally and legally.
When your employees travel for work, their health and safety become top priorities.
While most incidents aren't life-threatening, they can still disrupt business and leave employees feeling unsettled.
To ensure your travellers feel safe and supported, they need assistance whenever and wherever they are. This also boosts morale and productivity, improving staff retention and enhancing the overall travel experience.
The key to traveller safety? Preparation. Have a plan in place to reassure your travellers and guide them through any situation. With proper preparation, you'll always know where your travellers are and how to reach them during their journey.