What's Business Travel Management?

The growing cost of business travel, changing financial regulations and increased competition due to increasing globalization demand that corporations find better ways of reducing their operating costs. Since business travel expenses are a controllable item that affects corporate profitability, corporate business travel management makes sense, whatever angle we look at it.

Business travel management simply involves implementing corporate travel programs as well as negotiating with third party travel vendors that look out for the best interests of corporations by finding ways of reducing travel expenses and increasing the travel quality time simultaneously. Usually, companies that undertake business travel management are required to audit the travel programs, negotiate vendor fees, evaluate and enhance travel vendor relationships, evaluate online booking options, consolidate global travel programs and facilitate strategic cost containment initiatives. While not all companies focus on all aspects of managed travel programs, the goal is always one; to grow the corporate business.

For example, business travel management involves evaluating online reservation options and implementing them if they offer a better alternative. Online information and reservation solutions that cover air, hotel and car hire reservations that are customized to client specifications are now available and affordable. Many companies offering these business travel management solutions comply and implement their systems according to travel policy and agreed procedures. Policy compliance, enforcement and authorization of online solutions have come of age and their successful implementation is well attested.

Corporate business travel management can be a sophisticated undertaking especially where online implementation of services has taken place. Such services as 24 hour emergency assistance, airport transfers, passport and visa service, business travel insurance and multilingual assistance are now offered by business travel management companies.

Most of these services offer the benefit of negotiated arrangements that add value to the travel experience. When well arranged they reduce travel time and contribute to reduced stress levels. Some services like airport car parking allow for off-airport business parking rates and include the benefit of chauffer service. Airport transfers that include VIP travel, limousines and taxi travel as well as collection are some of the benefits of business travel management solutions. Clearly, if you can afford it, it is convenient and ironically, cheaper too.

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