Finding a TMC with Staying Power

Evaluating the needs of your travel program can be challenging, especially given the industry’s drastic changes. It is crucial to understand not only what your corporate travel management company (TMC) offers in terms of personalized service, travel supplier vendor agreements, negotiations and technology offerings, but quite possibly even more important is their strength and “staying power”.

Personalized Service

Large conglomerate TMCs can set you up with a broad scope of everything you need to run a travel program. This is good if you’re looking to get started and your travel needs are minimal. But, if you’re looking for flexibility and areas of change should you want that, you may find these lacking.

To ensure your program is continually improving and that you receive the personal, customized service you deserve, approach your relationship with your TMC as a partnership. Client solutions managers are there to help you fine-tune your company travel policy to fit your needs.

“Working with a TMC that takes a consultative, customized approach to managing your travel program is one of the greatest investments you can make,” says Vice President of Business Travel, George Kalka. “Your TMC should be your trusted business partner and deliver solutions that complement the unique travel requirements and culture of your organization.”

For an added benefit to your travelers, use an agency with 24/7 in-house agent support services, like Fox emergency services team, a service that is crucial for your travelers and optimizes your business travel experience.

Vendor: Negotiations, Agreements, and Partnerships

When analyzing vendor agreements, look at your current rates and what else is out there. You could be paying hidden fees and other costs that may not benefit your company’s travel needs.  Lately, airlines in particular are undergoing a considerable transformation. The scope and size of the “big four” will be reduced by 30-40 percent.  Their entire organizations will change, so make sure you have the conversations with suppliers you need to keep your agreements working for you.

Working with a TMC that has established, close travel vendor partnerships can help you negotiate better deals for your travel program.

Read More: The Importance of Supplier Relationships

Technology Offerings

With today’s ever-growing travel technology and rapidly changing needs, innovative apps for travelers and tools to help manage your travel policy with ease are as important as ever. Are there capabilities you wish you had, or pain points you and your travelers have not had addressed?

Ask about customized corporate travel technology or even the possibility of building technology to answer your biggest needs. Ask yourself what is most important for your business travel plan to be successful.

Examples of areas of improvement include booking tools, waiver services, expense management, and analytics. Do not get left behind operating with a behind-the-times approach, and instead seek out the forward-thinking solutions to make for a simpler experience for the business traveler.

Read More: Making a Difference for Clients with Award-Winning COVID-19 Unused Ticket Technology

While evaluating your travel program, analyze the areas above and determine if your expectations and standards are being met. Just because your travel might have slowed down, doesn’t mean you need less from your TMC partner. Most importantly, make sure that your TMC has the staying power to continue to serve clients through industry fluctuations like we are experiencing now.

Staying Power

Due to the COVID-19 pandemic, 2020 saw a record number of mergers and acquisitions among travel management companies, including the most recent acquisition of Ovation Travel by American Express Global Business Travel in January 2021.

Assessing the “staying power” of your TMC is crucial because if it is acquired by a mega TMC, it can affect its ability to provide personalized service and customized solutions for smaller- to mid-size organizations where travel volume doesn’t support a high-touch service model. You will want to ensure that your TMC has the financial strength and leadership to support you and your travelers through fluctuating economic conditions, such as the COVID-19 pandemic, and to be with you on the other side.

“Now in our 61st year and third generation of private ownership, the long-term view with which Fox World Travel runs our business has never been more relevant. Our lack of debt, along with our financial responsibility, enables Fox to successfully navigate impacts such as COVID-19 and remain a stable, healthy company to be there for our clients when they need us the most.” – Chip Juedes, Chief Executive Officer of Fox World Travel.

Read more: Emergency TMC Implementation.

At Fox, we make sure our clients have all the necessary resources to ensure a successful travel program. Refining and understanding the key aspects of the perfect TMC is key to ensuring your company receives the quality service it deserves.

Make sure you have the TMC partnership that’s right for you and that you can count on. Let’s review your travel needs together.