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What Is Corporate Travel Management?

Things to consider in corporate travel management, options for corporate travel management.

• Challenges of Corporate Travel Management

Tips for Creating a Corporate Travel Management Policy

Budgeting and reducing costs for corporate travel, the bottom line.

• Corporate Finance

A Complete Guide to Corporate Travel Management

Organize Your Employees’ Travel Itineraries and Manage Business Travel Efficiently

Travel is a major expense item for many companies, and while teleconferencing via Zoom and other online platforms may have eliminated the need for some trips, it remains essential for a wide range of business purposes, such as industry conferences and trade shows, critical sales calls, and certain meetings.

Corporate travel management (CTM) is one way that companies large and small can attempt to control and cut down on their travel costs. If you’re considering implementing a corporate travel management program for your business, here is what you need to know about how it works.

Key Takeaways

• Corporate travel management is a way for companies to try to control their travel costs and cut back on them if necessary.
• Some companies handle this function themselves, while others outsource it to specialist companies.
• Corporate travel managers can be involved in setting itineraries, booking flights and hotel rooms, and managing other travel-related costs.
• Today, many companies are concerned with not only the financial costs of employee travel but also its environmental impact.

Corporate travel management refers to processes that businesses put into place to oversee their employees’ travel and entertainment (T&E) expenses and ensure that they comply with the company’s policies. That can include approving (or rejecting) travel plans, arranging itineraries, purchasing tickets, and auditing expense reports.

A large company might have a separate department dedicated to corporate travel management, while a smaller one may assign the tasks to their human resources and accounting departments. Still others may outsource these functions to third-party travel management companies.

While the COVID-19 pandemic resulted in significant cutbacks in business travel, an October 2023 survey by the Global Business Travel Association found that 84% of companies said their business travel had “largely” or “mostly” returned to pre-pandemic levels.

Companies can choose to exert varying degrees of control over their employees’ travel, from fairly general guidelines on spending limits to very specific, step-by-step procedures, including which travel suppliers to use. Here are some of the matters they may take into consideration.

Itineraries

A business travel itinerary is a summary of a proposed trip, including travel dates and times, flight numbers, hotel bookings, meeting appointments and contact information, and so forth. Corporate travel managers may develop itineraries in collaboration with employees, making sure that each aspect complies with company policies. A written itinerary is also a handy reference for employees to bring with them on their trips.

Transportation

Corporate travel managers will often make transportation arrangements on behalf of employees, much like a travel agent might for someone’s personal vacation. Because they may control a high volume of business, they can have more leverage in negotiating with suppliers, such as airlines or rental car companies. They may also have special arrangements with certain suppliers, and the company might require its employees to use those suppliers whenever possible.

Even if they don’t have such arrangements in place or much power to negotiate prices, they may have tools at their disposal for searching out deals and discounts that individual employees don’t have. For example, they may have access to an online global distribution system (GDS), such as Amadeus, Sabre, or Travelport, allowing them to compare multiple carriers at the same time.

Accommodations

As with transportation providers, corporate travel managers can help arrange hotel bookings, often securing discounts that would be unavailable to employees individually. Hotel prices and availability are also provided on GDS platforms, which can save employees a lot of time and effort calling around to book a room.

Meetings and Events

For companies planning meetings and other events, corporate travel managers can book venues and assist attendees with their travel arrangements. Some companies may have separate travel management and event planning departments or merge the two into a single department. They can also farm out these functions to third-party companies that specialize in arranging events and have deep experience and contacts in that area.

Costs and Reporting

Since keeping costs under control is a major reason for implementing a corporate travel management program, setting spending policies and enforcing them is one of the managers’ key responsibilities. Employees must generally submit expense reports at the conclusion of their travel, which travel managers can then review.

Keeping accurate records, and receipts where necessary, is also important for tax reporting purposes. Companies can generally deduct employees’ travel expenses if they have a clear business purpose and are “ordinary and necessary” and not “lavish or extravagant.”

In many cases, companies will provide corporate credit cards for employees to use during their travels. Corporate credit cards can make it easier for companies to collect the information they need for reporting purposes, and spare employees the cost and bother of putting travel expenses on their own credit cards and having to wait for reimbursement.

Policy Compliance

Most companies of any size will have a written travel policy that they expect their employees who travel for business to become familiar with. This document will cover matters such as any required approval process before starting on a trip, spending limits, preferred travel suppliers, expenses that are reimbursable (or not), rules on the use of a corporate credit card, and how to fill out and submit an expense report at the conclusion of a trip. Written travel policies serve the dual purpose of controlling company costs and saving employees unwelcome surprises over expenses that the company won’t reimburse them for.

Beyond specific travel-related policies, corporate travel can be affected by broader company policies. For example, a 2023 Deloitte study reported, “Climate concerns will likely put a cap on corporate travel gains for several years to come. Four in 10 European companies and a third of U.S. companies say they need to reduce travel per employee by more than 20% to meet their 2030 sustainability targets.”

Travel Support and Assistance

In addition to helping employees with the logistical and financial aspects of travel, corporate travel managers can provide other forms of support, including help in a medical or other emergency. Many large corporate travel departments and third-party companies have support services available 24/7, just in case.

As mentioned, companies don’t have to take on all (or any) of these responsibilities themselves but can hire another company to handle it for them. While that represents an added cost, a company that specializes in corporate travel is likely to bring greater expertise to the role and may find cost savings that would otherwise go unnoticed.

Companies can also buy travel management software programs that allow employees to book their own travel arrangements and that may link to the company’s accounting software to simplify expense reporting. Such software can also flag and even reject any expenses that don’t comply with company rules.

If they don’t have access to professional GDS platforms, travel managers can also make use of regular consumer booking sites, such as Expedia and TripAdvisor.

Challenges of Corporate Travel Management 

While corporate travel management will often benefit a company from a financial perspective, it does present challenges.

For example, because it takes away some of the autonomy that employees may have become accustomed to in planning their own trips, it can cause them to feel mistrusted or micromanaged and make travel seem like more of a burden. In addition, for corporate travel management to be effective, it requires that the people who oversee it know what they’re doing, which may require not only training but also frequent refresher courses to keep up with the rapidly changing travel industry.

A good corporate travel management policy will lay out as specifically as possible the company’s rules for arranging flights and other transportation, booking hotel accommodations, and expensing other reimbursable travel-related costs, such as meals and entertaining. Any caps on costs should be regularly revisited and revised as necessary to keep up with inflation and changes in the marketplace.

The policy should describe a clear process for having travel approved in advance, if that’s required, and submitting expense reports after the trip for timely reimbursement.

An effective policy will also strive to avoid situations in which lower-level employees feel they are subject to stricter or more penny-pinching rules than higher-ups.

Finally, it’s important that employees be encouraged to read the policy and know the rules. They may also be given the opportunity to provide feedback on ways that the rules can be improved next time the policy is revised.

Corporate travel managers not only play a role in monitoring how a company’s money is being spent and looking for ways to cut its costs. They also often have a major say in setting the company’s annual travel budget, based on previous years’ needs and anticipated pricing changes throughout the travel industry.

Today that may involve weighing in on when a virtual meeting can substitute for an in-person one. A 2023 Morgan Stanley survey of 100 global corporate travel managers found that they planned to replace 17% of their corporate travel with virtual meetings in 2024 for reasons “ranging from cost savings to lower carbon footprints.”   

Why Is Corporate Travel Important?

While many companies learned during the COVID-19 pandemic that they could sometimes substitute virtual meetings for in-person ones, they have also found that travel can more than justify its cost in many instances . As Harvard Business School Associate Professor Prithwiraj Choudhury remarked in a recent interview on the university’s website, “Even in a hybrid world, even in a world of work-from-anywhere, we still need to occasionally meet colleagues in person for social purposes.” In addition, face-to-face meetings can help establish more profitable and productive relationships with a company’s key customers and suppliers.

Who Handles Corporate Travel?

Companies handle corporate travel in a variety of ways. Many have created internal departments dedicated to corporate travel management, while others outsource that role. However, many companies still leave most of the decisions to individual employees. One 2023 survey by Morning Consult Research Intelligence reported, “Over half (51%) of those who travel frequently for work book on their own using a platform of their choice.”

What Does Corporate Travel Include?

Corporate travel can include both domestic and international trips that have a business purpose. It generally doesn’t include employees’ everyday commuting. Commuting costs are not tax-deductible for employees, but companies can choose to subsidize them up to certain limits through what the Internal Revenue Service (IRS) calls qualified transportation benefits. Those benefits are not taxable to the employee, but the employer doesn’t get any tax deduction for providing them.

Corporate travel is expensive, but many companies find that its benefits outweigh the costs. Corporate travel management is one way that companies can try to keep those costs under control and get the most value from their travel budgets. While many companies have embraced corporate travel management programs, others still leave most decisions to their individual employees.

Global Business Travel Association. “ Global Business Travel Industry Sees Rebound in 2023 with Shifting Challenges and Opportunities for 2024 .”

American Express. “ What Is Corporate Travel Management and Why Do You Need It? ”

Internal Revenue Service. “ Topic No. 511, Business Travel Expenses .”

Deloitte. “ Navigating Toward a New Normal: 2023 Deloitte Corporate Travel Study .”

Oracle NetSuite. “ What Is Corporate Travel Management? ”

Morgan Stanley. “ 2023 Outlook: Business Travel Bounces Back .”

Harvard Business School. “ Why Business Travel Still Matters in a Zoom World .”

Morning Consult Research Intelligence. “ Business, but Not as Usual ,” Page 18.

Internal Revenue Service. “ Publication 15-B: Employer’s Tax Guide to Fringe Benefits ,” Page 22.

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What Is Corporate Travel Management?

Corporate travel management addresses all functions associated with supporting business travel for employees, customers, vendors and business partners. Companies may rely on in-house corporate travel management teams, travel agencies, online booking tools or any combination of those options to perform these functions. Corporate travel management policies create or enforce meeting and travel procedures while passing along travel data to accounting and finance systems and teams.

How Does Corporate Travel Management Work?

In addition to ensuring employees comply with a company’s travel policy, corporate travel management supports other tasks such as arranging business trips, establishing preferred arrangements with carriers (airlines, rental car companies, etc.) and hospitality providers, and issuing real-time reports that relay travel spend to accounting departments and other corporate stakeholders.

Why Is Corporate Travel Management Important?

Business travel management plays a key role in helping companies get the most out of their travel budgets by ensuring they are not overpaying for transportation and accommodations. It also establishes how employees arrange business trips and ensures all travel spend is allocated in the best interest of the company. A well-managed corporate travel program is also important to ensure traveler safety.

What Tasks Fall Under Travel Management?

Itineraries, accommodations, transportation.

• Meeting & Events
• Costs & Policy Compliance

Travel Support

• Reporting & Data Analysis

Companies have different approaches when it comes to how employees create itineraries for their business trips. Considerations include cost, balanced with an employee’s business responsibilities and the company’s travel polices. In most cases, employees now use online booking tools to create their own itineraries. Some larger companies may have personnel or travel agency resources to create itineraries for senior leaders or those who travel frequently. Companies with a corporate travel program can configure travel management software with online booking tools to ensure travelers create itineraries that meet the firm’s travel guidelines while providing a mechanism for trip approval and the reporting of travel and expenses.

Corporate travel management is responsible for keeping costs in check, as travel prices are notoriously variable. Optimizing pricing can have a measurable impact on maintaining budgets and help companies fund more business trips without significantly expanding the budget. Corporate travel management can set guidelines for how much employees can spend on various travel costs, based on reasonable and customary prices in a given locale.

Some companies negotiate prices with certain providers, while others rely on agencies and other third parties who may have more leverage. Some might rely on both internal teams and a travel management company. Where it makes sense, companies should also leverage any business client relationships they may have with those who provide transportation, hospitality or other travel support functions.

Lodging costs are cyclical depending on economic conditions, location, time of year and other factors. The cost of accommodations also varies considerably throughout the world. Thus, corporate travel management may negotiate prices with major hotel chains or those who provide alternative accommodations such as Airbnb —or oversee an agency who does so. In addition to costs, businesses should consider accommodations that meet employees’ business needs and have favorable cancelation polices or are willing to waive certain fees.

When it comes to transportation, corporate travel management plays several roles, including determining the best mode of transportation for a given destination. It is the conduit through which employees make their arrangements with preferred carriers and ensures transportation arrangements comply with company polices.

Meetings and Events

Companies that host their own meetings and events need resources with which to book restaurants, hotels, convention centers or other venues that can accommodate everything from small executive meetings to large conferences. A corporate travel management team or tool facilitates these bookings.

For important meetings and events, the team will scout various venues and ensure each can meet the needs and budgets of a meeting or event. If it’s a major gathering that will bring together customers, investors or other influential stakeholders, corporate travel management teams will visit the venue. Besides evaluating the meeting facility, the team will ensure the surrounding accommodations and logistics are suitable.

Costs and Policy Compliance

Many companies require corporate travel management to not only set cost thresholds but also track and enforce employees comply with them. Ideally, corporate travel management ties compliance to reimbursement policies. Moreover, its systems should prevent employees from making arrangements that fail to meet the company’s policies.

Because circumstances at times may necessitate exceptions, corporate travel management should have flexible approval mechanisms. Many businesses also issue a corporate credit card, which allows for better tracking of travel and expenses, simplified travel booking, faster reimbursement and access to real-time data regarding employees’ costs.

Sometimes, corporate travel management teams will serve as a conduit between employees, their supervisors and accounts payable. Larger organizations may outsource this role to travel agencies, such as American Express , which have sophisticated travel management platforms. Some organizations will provide higher levels of support, such as arranging for transportation to airports, making dinner reservations or serving as a liaison to travelers when they need assistance. In both scenarios, other than top executives and VIP guests, employees are increasingly expected to rely on self-service tools to address common travel needs.

Reporting and Data Analysis

Corporate travel management must report all travel expenses to accounting. Finance departments use that information to not only track expenses incurred during an accounting period but also inform current and forward-looking budgets and forecasts.

Automated Travel Management vs. Hiring a Travel Manager

Until recently, companies had to decide whether to hire people to support and manage travel or to rely on outside agencies to oversee those functions and then let accounts payable departments enforce policies when reimbursing employee expenses. While some companies choose one or the other and others go with a blend of both, nowadays companies have the option to automate much of the travel management process.

Some business management platforms, for example, offer corporate travel management capabilities. Many of the leading platforms have features including expense management , analytics , client management and project management , which together serve to automate travel management. These platforms also give accounting teams real-time information on travel’s impact on financial performance.

How Is AI Changing the Travel Management Landscape?

Business travelers are now actively using tools to automate travel management. With recent advances in artificial intelligence (AI), they can now book a business trip with online booking tools even faster. For example, American Express Global Business Travel (GBT) is among the firms using AI to automate business travel planning. The global travel agency now has a recommendation engine that uses a traveler’s history to help find suitable accommodations when planning a trip.

But it is not just the giant travel agencies that are using AI to help automate business travel booking and related processes. Airlines, hotel operators and car rental agencies have started introducing chatbots to address routine inquires and issues. People are using voice commands for recommendations and to place reservations. These technologies are starting to appear in workforce automation, help desk and other business process management systems to enable increased self-service to routine processes.

The true potential of AI for corporate travel management comes from using all the data amassed by travelers to eliminate as many tasks in the planning of trips as possible, according to Travel & Hospitality magazine.

By analyzing how travelers across companies behave in creating their itineraries, AI automation tools can become more precise in predicting preferences, according to the report . “When preferences can be catered to without even asking for them, search time is heavily reduced, and traction is increased. Even shifts in traveler partners can be detected beforehand while negotiating with properties. Ultimately, an AI-powered recommendation mechanism could eliminate the dependence on potential complications of last-minute changes.”

Challenges of Corporate Travel Management

• Employee desire for flexibility and comfort can conflict with a company’s efforts to manage costs.
• Services that were once included in the cost of airfare or a hotel booking may now cost extra, creating disparities in company policies.
• Escalating cancellation or change fees are costly if employees make errors when booking.
• Company polices can often limit employees’ ability to choose lower-cost services that they discover on their own.
• Many companies still lack ways to calibrate the needs of the business with costs and changing business conditions when it comes to travel.
• Accounts payable policies are not always aligned with corporate travel management. The reimbursement process is very manual and requires significant resources to review and verify receipts for travel expenses.

How to Institute a Travel Management Policy

Every company should have a documented travel management policy and one that they enforce. The policy should be reasonable and ideally put together with input from employees who frequently travel. Gathering that input will reduce non-compliance, which by various accounts is high. Corporate travel surveys show more than half don’t understand or meet their companies’ travel policies. The Society of Human Resource Management, a non-profit trade association for HR professionals created a template that offers a baseline policy that companies can adjust to meet their own compliance requirements and what leadership believe fits within their organization’s best practices.

Trends in Corporate Travel Management

Business travelers expect every aspect of their trips to be accessible from their phones and their computers. Gone are the days of calling a travel agent to book their travel and submitting manual expense reports.

Businesses that can integrate all of the information pertaining to the planning of trips, expenses and how employees spend their time on the road are better positioned to determine the value they are receiving.

Improvements in technology and advances in AI are helping companies ensure they are receiving the most competitive rates, more flexibility and better visibility.

Improve Expense Management Efficiency

Best Tools for Corporate Travel Management

Many companies expend significant resources on corporate travel for business development, sales and marketing. Besides widely variable travel expenses, there’s a cost in terms of human capital management—organizations that use modern corporate travel management tools effectively are better positioned to get higher ROI.

Ideally, organizations should ensure their corporate travel management solutions are integrated with, or include, expense and vendor management systems. Likewise, organizations should integrate corporate travel management with core financial management and accounting platforms and resource and planning solutions.

On the front end, tracking expenses for travel has become easier now that employees can use their mobile devices to scan receipts when they receive them. As a result, many organizations have simplified their formerly paper-intensive expense management processes.

Accordingly, companies should make sure their expense management solution includes configurable mobile apps that can scan receipts and allow employees to easily itemize and categorize each expense.

Tools that can track polices will automatically reject unallowed expenses. The platform should offer flexible and configurable workflows that can avoid bottlenecks that delay approvals. The best expense management tools also offer connectivity with ERP, project management, accounting, billing, and analytics systems.

Travel expense management solutions that offer certified integration with leading platforms and help organizations reduce the amount of data entry among those in accounts payable departments. Likewise, they make it easier for employees to compile expense data, especially those that provide integration with approved credit card providers.

Financial Management

Extended Planning and Analysis (xP&A) Defined

Finance departments in well-run companies have for years developed best practices around financial planning and analysis (FP&A), which provides useful insights and analytics that help guide a business’s future direction…

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The 2024 guide to corporate travel management

What is corporate travel management, what does a corporate travel manager do.

• Booking trips for travelers (not only c-suite executives, but employees in any role).
• Helping individual departments track their travel spend so they can stay under budget.
• Providing travel support to travelers before, during, or after their trip.
• Selecting and managing any travel vendors or travel tools used.
• Working to negotiate corporate rates on hotels that the company uses often.
• Booking group travel.
• Organizing ground transportation like rental cars or rail
• Analyzing company travel spend, or delivering travel spend reports to the CFO for analysis.

What does a travel buyer do?

Stakeholders in the travel management process.

• In-house corporate travel manager
• Office manager or office team
• Head of operations / COO
• CFO and finance managers
• Panel of frequent employee travelers
• Current corporate travel agency or company

What solutions are companies using to book their business trips?

Consumer booking sites, traditional travel agencies, travel management software.

Save your company time and money on business travel

What are the drawbacks of each solution.

• Need to compare various websites and pay out of pocket in order to secure the best price
• Many hidden costs, with fees for cancellations and changes
• Many back-and-forth emails when booking for companies
• Need to pay upfront
• No support for issues on the road
• Time-consuming manual reimbursing and expense tracking
• Impossible to ensure compliance with company travel policy
• Online booking tools are typically buggy, with bad UX
• Employees end up calling support or book, when they’d rather save time by booking for themselves, with the options they want
• Costly service
• Above-market transport/accommodation prices
• Company policy compliance is difficult to guarantee
• Lack of travel inventory and options
• Clunky user experience that travelers don’t enjoy
• Offshore customer service, typically ranked as the top frustration in customer reviews
• Often overly complicated and feature-laden
• Impossible to control travel when travelers can’t or won’t use the tool
• Lacks low-price flights and hotels available online
• Impossible to guarantee company policy compliance

The pillars of modern travel management:

• Trust – Trust travelers to book using the approved process and policy, and make it easy for them
• Transparency – Let travelers see what they’re allowed to spend and choose accordingly, and let finance and administrative teams see what is being booked and why.
• Simplicity – Create a process that works and meets everyone’s needs.
• Impact – Measure the impact of business travel on the company and reduce unnecessary trips that leave travelers exhausted and businesses with needless expenses.
• Duty of care – Ensure a thorough duty of care strategy is in place to mitigate risks for employees when traveling
• Sustainability – Being aware of the impact of travel on the environment and adopting good practices to reduce the effect

How can a good corporate travel program help companies to save money?

Ensuring compliance with company travel policy, access to more affordable flight options, stay on top of travel spending trends, six steps to managing corporate travel effectively.

• Choose a smart booking tool
• Assure 24/7 travel support
• Create policies and approval workflows
• Organize and utilize travel spend data in real-time
• Improve collaboration between admin and finance
• Reduce your company’s carbon footprint

1. Choose a smart booking tool

• Self-booking within policy – Trust your travelers to book what they need, and set up policies and parameters
• Consolidated invoicing – The ability to get one monthly invoice for all travel from one vendor, instead of having it spread across the web
• Travel spend reporting – Easy access for all finance and administrative team members who need to track travel itinerary details and spend by cost centers, tags or labels
• Easy booking process that travelers love – Invoice consolidation and accurate reporting are impossible if employees want to cheat on the approved tool, so choose a tool that’s easy to use with consumer-grade UX. Make their entire travel experience, from booking to coming home, as easy and smooth as possible. Introducing a mobile app is just an added bonus!
• Great inventory – Inventory is not a side note. Make sure the platform you use has every available option you can find online and that the company is committed to adding more inventory
• Travel support – You need travel assistance that’s available 24/7 in your native language so that employees can get help even when the internal admin team is unavailable

2. Assure 24/7 travel support

Here are the requirements to look for in travel support:.

• Available 24/7
• Easy to reach a real human
• Guaranteed follow-up and follow-through
• Native language support
• Fast escalation for big issues

3. Create policies and approval workflows

• Maximum cost of airfare
• Maximum cost per hotel per night
• Minimum amount of days booked in advance
• Hotel star rating
• Flight class allowed

Travel Management: The Ultimate Guide

Approval workflows.

• No approval required for any trip
• Approval required for some trips
• Approval required for every trip

4. Organize and utilize travel spend data

• Cost centers – Does your company use different payment accounts for different geographical regions? How many cost centers does the company have? Make sure that travel spend is getting charged to the right accounts and that you're making accurate expense reports.
• Tags and labels – Beyond cost centers, are there any important filters that the finance team would have to have when viewing travel spending reports? For example, would they like each trip tagged by team or by project? Decide upfront so that the tagging system can be implemented clearly from the get-go.
• Keep all travel in one place – to get accurate travel data, you need to keep all travel in one place—whenever possible. Work with a travel management solution that integrates with providers that matter to your company, such as budget airlines, AirBnb or European train lines. If your company has negotiated hotel rates, you want your corporate solution to be able to book those rates for you, so you don’t lose the travel data by booking directly.

5. Improve collaboration between admin and finance

• Streamlined approvals process – If your approval process requires action from the admin and the finance team, try to make this as seamless as possible.
• Easy access invoices – The finance team needs to grab all invoices quickly so they can reconcile expenses and set clear reimbursement processes. The best way to do this is to use a platform that consolidates travel spend into one monthly invoice.
• Ability to track spend instantly – Consolidate all travel spend into one platform so that they can generate reports on what is being spent, by who, and why (when using tags and labels). Same as with the invoices, determine whether you need to send them a monthly report, or if they want to download it themselves.
• Cost savings on trips – Fixing travel isn’t just about saving time. Many businesses are still using travel booking platforms that were built in the 80s and 90s. This means that they markup the inventory so that the company is paying more than a consumer would! Impress the finance team by reducing travel costs and introducing consumer-grade prices for trips.

6. Reduce your company’s carbon footprint

• Work out your starting point by calculating your company’s travel carbon footprint
• Design a green business travel program, which creates data-driven strategies to increase employee commitment
• Choose economy class
• Reduce your fuel consumption where possible
• Pick low-emission airlines and avoid layovers
• Vet your accommodation for sustainability practices
• Utilize green travel tax breaks

The bottom line: it's time to upgrade your travel management

Let’s bring it all together.

• Choose a smart booking tool – Meet everyone’s needs
• Share the burden of travel support – Don’t try to do this alone
• Set up cost centers and labels – Let the tool reflect the business
• Create policies and approval workflows – Put the policy inside the booking process
• Improve collaboration between admin and finance – Grab invoices and reports

Make business travel simpler. Forever.

• See our platform in action . Trusted by thousands of companies worldwide, TravelPerk makes business travel simpler to manage with more flexibility, full control of spending with easy reporting, and options to offset your carbon footprint.
• Find hundreds of resources on all things business travel, from tips on traveling more sustainably, to advice on setting up a business travel policy, and managing your expenses. Our latest e-books and blog posts have you covered.
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The ultimate guide to corporate travel management

The days of businesses operating and growing within a small city radius are long gone. In today’s fast-paced and tech-savvy business world, companies have easy access to global talent and clientele.

As such, transporting stakeholders long distances is standard practice. Recent forecasts project that there will be more than 470 million domestic business trips taken in the US alone in 2024.

While corporate travel is a necessary part of operating a modern business, it can also be logistically difficult and costly to manage—especially as your business scales. This article will help cover what you need to know to improve your corporate travel management operations.

What is corporate travel management?

Corporate travel management is the process of coordinating, analyzing, and managing a company's business travel needs.

Effective corporate travel management is crucial for keeping business trips organized and efficient, ensuring that travel arrangements align with the company’s policies, helping to enhance the safety and comfort of travelers, and adhering to budgets.

What does a corporate travel manager do?

Craft and implement comprehensive corporate travel policies.

Corporate travel managers develop detailed travel policies that align with the company's unique goals and needs.

For example, a travel manager would establish policies for:

Booking procedures. Define processes for booking rides, flights, and hotels.

Travel class guidelines. Set standards for business or economy class based on distance, duration, or employee level.

Accommodation standards. Specify the type, budget, and class of accommodations allowed (for instance, hotels or home rentals).

Expense reporting and reimbursement. Set limits on daily allowances for meals and incidentals, and establish procedures for tracking and submitting travel expenses.

Technology use. Implement travel management software or apps to simplify travel arrangements, data analysis, and reporting.

Orchestrate seamless experiences

Corporate travel managers oversee the coordination and execution of business travel plans for employees. They either directly arrange all aspects of travel themselves, manage an internal team of travel coordinators, or work with third-party travel agents.

Today it’s also essential to adopt corporate travel apps , as they assist managers with streamlining travel plans across their organization. A corporate travel app helps with the following:

Automated expense tracking. Eliminates the need to save hard copies of receipts by automatically adding to the system the trips and meals to be expensed.

Centralized control from a dashboard. Provides complete visibility into travel policies, procedures, expenses, budgets, and plans.

Real-time reporting and tracking. Offers a comprehensive look into customized travel programs with real-time updates for travel, meals, incidentals, and more.

Simplified travel management. Includes flexible and customizable limits for booking rides, buying food, and processing payments (such as charging to a personal card for reimbursement or to a business card).

Control the budget for optimal financial outcomes

Travel managers navigate the line between providing comfortable travel experiences for employees and sticking to the business’s travel budget.

To do this, managers research cost-saving opportunities, identify the most cost-effective times to travel, and negotiate discounts with travel vendors.

A travel manager might, for instance, identify and book off-peak flights for a team attending an international conference. They could also track rideshare prices to find optimal travel times and book hotel rooms with corporate discounts.

Analyze data to inform future travel policies

Corporate travel managers are also responsible for monitoring travel data. Keeping a close eye on travel analytics helps with:

Tracking expenses. Examining corporate travel expenses reveals spending patterns and shows where the company can reduce costs.

Identifying travel patterns. Historical travel data helps managers find patterns and trends, which helps with forecasting future travel needs and preferences.

Benchmarking against industry standards. Travel managers compare their company’s travel spending and policies against industry benchmarks to better understand performance.

Analyzing supplier performance. Evaluating data about suppliers can uncover their reliability, service quality, and value.

Managers capture this data with feedback surveys from employees, travel industry reports, travel management software, and third-party travel platforms.

Prioritize duty of care for employee well-being

Corporate travel managers work closely with HR managers to develop duty-of-care protocols for their employees.

Duty of care in corporate travel includes:

Ensuring the health of employees. Maintaining the well-being and health of traveling employees and making sure they have access to necessary healthcare and support.

Providing for basic needs. Arranging for essential amenities like quality food and beverages, and comfortable accommodations.

Protecting employees. Keeping travelers away from situations where they may experience harassment, stress, or discrimination.

Collaborate with industry partners

Corporate travel managers’ duties don’t start and stop with coordinating and managing business travel. They’re also responsible for building relationships with top industry partners and vendors.

This includes establishing discount and comfort agreements with airlines, negotiating deals with hotel chains, and selecting the best rideshare apps.

They also work closely with internal teams and senior management to ensure that travel strategies and contracts align with overall business goals.

For travel policy setters or managers

Oversee your travel program with the flexible rules and streamlined reporting you need, with Uber for Business.

Challenges within corporate travel management

Successfully managing corporate travel requires so much more than simply booking plane tickets and hotel rooms for employees. Below are some of the top challenges corporate travel managers face.

Cost-benefit analysis

In corporate travel management, this involves quantifying all costs associated with travel and weighing them against the benefits, such as networking opportunities, employee development, client relationships, and successful sales.

Imagine a scenario where a company is considering sending an employee to an international conference that costs $3,000 in total. The corporate manager would need to research the potential benefits (such as networking, business development, and employee growth) of spending that $3,000 and determine if it’s worth it.

Cost-benefit analysis can also be nuanced. Consider this data point, for example: 48% of business travelers say their last work trip was too long. If an employee can accomplish what they need to in 2 days of travel and a manager books a trip for 4 days, it results in 2 extra days of employee time and corporate travel budget.

Cost-benefit analysis, in this instance, would involve analyzing past data, including post-travel feedback surveys, to understand how long employees need to travel to accomplish goals while optimizing the travel budget.

Traveler satisfaction

Research shows that 60% of employees say business travel positively affects their satisfaction with their job. And Slack’s 2023 “State of Work” report found that most employees say feeling happy and engaged at work is a key motivator. What’s more, when employees are happy and productive, businesses thrive, according to The Economist .

The tricky part for travel managers is accommodating employees’ diverse travel needs and preferences within a corporate (not a luxury vacay) budget.

To keep employees happy and productive, travel managers must understand what satisfies employees while they travel and then develop a plan to deliver a positive experience while working within a corporate budget.

Adapting to changing business needs

Shifts in business priorities, such as targeting new international markets or altering strategic partnerships, directly affect travel requirements.

A shift toward more in-person client meetings, for example, can increase travel frequency. Corporate travel managers must adapt policies and budgets to align with evolving business needs.

And efficient corporate travel management requires monitoring shifting political, economic, and health climates worldwide and being ready to respond and adapt. Travel needs can change in an instant, and corporate travel managers must remain adaptable to adjust travel strategies as necessary.

Environmental sustainability

A 2023 Deloitte study reported that climate concerns will likely limit corporate travel growth in the coming years. Deloitte found that “4 in 10 European companies and a third of US companies say they need to reduce travel per employee by more than 20% to meet their 2030 sustainability targets.”

This statistic highlights the growing pressure on corporate travel managers to devise travel strategies that meet the needs of a growing business while being efficient, cost-effective, and environmentally responsible.

4 tips for managing business travel

Now that we’ve discussed some of the job responsibilities and top challenges of corporate travel managers, let’s cover the best tips for managing business travel.

1. Establish clear communication channels

When employees don’t know your travel policies and procedures, it’s impossible for them to comply.

In other words, they might not know how much they can spend at a corporate dinner, whether they should take a taxi or use a rideshare app, or what safety and security policies they need to follow when traveling for business.

Consider establishing a clear communication channel where every employee can access critical travel information. This could be a dedicated travel portal or intranet page, regular email updates, or travel management software that provides real-time communication.

2. Conduct regular training sessions

Another way to fine-tune communication and increase awareness about travel policies is by conducting regular training sessions.

Create a live or digital training course that covers the following:

• Travel policies: Review company-specific travel guidelines and booking procedures.
• Safety measures: Explain all protocols and emergency procedures for travel. Draw special attention to areas people may be visiting that are undergoing political or civil unrest.
• Changes in procedures: Provide updates on any new or altered travel-related processes. This is especially important during health crises.
• Duty-of-care responsibilities: Educate on and provide clear definitions of the company’s commitment to traveler safety and well-being.
• Per diem amounts: Outline the daily allowances for expenses while traveling. Include a definition of what is and isn’t allowed. For example, is alcohol part of a per diem or excluded from corporate expenses?
• Expense reporting: Give instructions on how to accurately report and submit travel expenses.

3. Adopt travel technology

When you’re managing travel for multiple employees across different offices, it’s challenging to educate everyone, track expenses, and ensure compliance with travel policies. To organize and streamline everything, you may consider a travel management system (TMS).

A TMS is a comprehensive travel platform that helps companies book, track, and report travel activities. It typically also provides real-time data and analytics, helping you monitor travel spending and optimize your travel strategies.

4. Evaluate and update travel procedures and policies

Any changes in technology, the world economy, political climates, global health status, and industry have a profound effect on business travel.

As such, it’s essential to establish a process for continually evaluating and updating travel procedures and policies.

This could include:

• Reviewing policies to make sure they’re relevant, cost-efficient, effective, and safe
• Surveying your employees to see how happy they are with your travel policies
• Evaluating your TMS data to identify where you can optimize travel, innovate, and improve processes

Move your business forward with Uber for Business

In today’s fast-paced business world, getting corporate travel right is more important than ever. Adapting to changes quickly and embracing new technologies are key to staying ahead in managing business trips effectively.

You may also consider leveraging Uber for Business , a game changer in managing your company’s travel needs. It simplifies the entire process of corporate travel management with features like automated expense tracking and centralized control, making it easier to stick to policies and budgets.

With Uber for Business, you’re not simply organizing travel. You’re also saving time and money while giving your team a smoother, more efficient travel experience. Learn how to get started .

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Travel Management 101: Back to the basics 

Traveling for business isn't just about hopping on a plane – it's a structured journey requiring precision and robust support. 

As the realm of corporate travel grows, so does the need for effective travel management and dedicated support. 

That’s why we at Corporate Traveler created this guide. 

Packed with indispensable knowledge and pragmatic insights, we’ll cover everything from the fundamentals of business travel management to evaluating the advantages of integrating the right travel management software solutions. 

Whether you're an aspiring travel manager or a seasoned business professional looking to enhance an existing travel program, this guide serves as your compass through the labyrinth that is corporate travel management. 

• Introduction - What is corporate travel management?
• Managed vs. unmanaged travel
• What is corporate travel technology?
• 5 key components of effective corporate travel management
• Make your business travel count

What is corporate travel management? 

Corporate travel management refers to the strategic planning, coordination, and control of multiple processes, all relating in some way to business travel. Each company has its own unique approach to corporate travel management, but at the end of the day, the primary goal remains the same: guaranteeing safe and efficient travel for employees within the framework of the company's policies and guidelines. 

This involves (but is in no way limited to) overseeing travel expenses, mitigating potential travel risks, and ensuring booking processes adhere to the company travel policy. 

Businesses navigate travel management through various channels, including: 

• Travel management companies (TMC) 
• In-house travel manager(s) 
• External travel agents 

What is a corporate travel manager? 

A corporate travel manager is typically an internal employee responsible for steering the travel program and coordinating all business trips for the entire organization. Not only are they the architects behind the corporate travel policy, they also handle duty of care (DOC) and risk management initiatives as well as assist the company in navigating global business travel terrain. 

(Side note: When the expertise comes from someone outside the organization, we call them corporate travel agents) 

Depending on the scale of the company, there might be a full-fledged team of travel managers, or the responsibility might rest with a solo office manager or HR representative. 

Their daily duties? Well, it’s quite the to-do list: 

• Booking trips for employees across various roles within the company 
• Tracking departmental travel expenses to ensure adherence to budgets 
•  Offering travel support to employees throughout all stages of their journey 
• Managing travel vendors or tools used by the company 
• Negotiating corporate rates with frequently used hotels 
• Arranging group travel and ground transportation, like rental cars or trains 
• Tracking company travel spend and providing reports for analysis 

What is a travel management company (TMC)? 

At the most basic level: a TMC is a specialized travel agency that assists businesses in managing their corporate travel needs. 

Like travel managers, TMCs adeptly handle all the nuances involved in business travel, from handling flights and securing hotel reservations, to providing top-notch DOC and analyzing expense reports. 

So, what sets them apart? The beauty of working with a TMC like Corporate Traveler is that we provide holistic travel management services and solutions that are specifically designed to streamline travel processes, optimize costs, and facilitate convenient and efficient business travel for employees. 

Is your company literally jetting off? An increase in employee travel comes with an increased need for travel and expense management. 

With Corporate Traveler, you can access negotiated rates, analyze your spend, and save across the board – all from anywhere, on any device. 

Managed vs. unmanaged travel 

Managed travel refers to any business travel that is supported by the services and expertise of a TMC. Travel bookings are either made with a dedicated travel consultant or via the travel company’s online booking tool (OBT), all of which are consolidated into a single, easy-to-digest report. 

Unmanaged travel, on the other hand, is where an organization handles its own business travel arrangements. In some cases, travel tasks and responsibilities may be delegated to a travel arranger or assistant. In others, businesses leave employees to book for themselves directly on InsertAirlineHere.com 

For some businesses, unmanaged travel a highly attractive option. But things aren’t always as they seem. 

Is your travel program unmanaged? Check out our article on managed vs. unmanaged corporate travel to see some key benefits to a managed program that you might not know you’re missing out on. 

What is corporate travel technology? 

Travel management software is like a specialized toolbox companies wield to ace their travel game. Think of it as software tailor-made to streamline and automate every feature of travel management, including: 

• Travel booking 
• Travel supplier management 
• Approval workflows 
• Corporate travel policy enforcement 
• Expense management 
• Reporting and analytics 

These travel management solutions don’t just stop at desktops! They are also offered as user-friendly mobile apps, allowing employees to book and manage their business trips without a travel agent or manager. 

In a nutshell, this tech is the control tower – a centralized platform steering travel bookings, policies, expenses, and reporting. It hands companies the reins, granting them stellar control, efficiency, and a crystal-clear view of their corporate travel management playground. 

But don’t just opt for any OBT. Choose a tech solution that knows how to play together. 

What is a corporate travel management system? 

This is a holistic, agile travel tech stack that consists of interdependent software solutions that work together seamlessly to provide end-to-end travel management. Such a cohesive system gives you the ability to streamline approvals, stay connected to employees wherever they are, and improve business travel compliance. 

By integrating different software solutions such as online booking tools, expense management systems, and travel risk management platforms, companies can create a comprehensive travel program that enhances the traveler experience, reduces costs, and improves compliance. 

With a travel tech stack in place, companies can also gain greater visibility into employee travel spend, track traveler behavior, and make data-driven decisions to optimize their travel program. 

5 key components of an effective corporate travel management program

No matter the size of the organization, number of stakeholders, or software employed, an effective corporate travel management program typically consists of several key components. 

1. Inclusive corporate travel policies 

This one might seem obvious, but we can’t stress it enough. Your travel policy is an extension of your travel program and company culture. A travel policy is the glue that holds your travel program together – from approvals, expenses, booking processes, and emergency contacts. 

Having a travel policy helps you: 

• Control travel costs 
• Determine how reimbursement works 
• Compile a list of trusted and approved travel vendors 
• Manage an employee’s travel experience and safety 
• Cut rogue bookings – and simplify approvals 
• Budget, report on travel expenses and activity and reconcile bookings 

As a company though, your travel policy helps centralize your travel program, makes data and tracking more accurate and easier to navigate, and it saves time and money (including on expense management). Plus, if you take the time to craft your policy in an intentional and inclusive way, you’ll have a policy your travelers are happier to follow. 

Want to learn how? Check out our   guide to corporate travel policies . 

2. The “right” corporate travel booking tool 

Not all online booking tools are created equal. 

Look for a travel platform that helps you develop processes that simplify: 

• Travel policy compliance – You've gone through the trouble of building a policy that meets all your travelers' needs. How can you make sure your travelers follow it? A corporate travel management platform, like Melon, allows you to outline your travel policy in the platform and alerts bookers when they are selecting options outside the company guidelines to help them stay on track. 
•   Centralized booking – Booking across different websites and compiling it into one organized itinerary is tricky. Melon brings all the available booking options, including flights, hotels, and transportation, into one platform. Say goodbye to that browser full of open tabs.
• Preferred vendor integration –Have a preferred airline? Like a specific hotel bed the most? Collecting rental car loyalty points? Our travel platform, Melon, delivers your preferred vendors first so you always find what you're looking for.  You'll rest easy knowing your travelers are choosing from the negotiated rates and exclusive deals that save your bottom line. 
• Approval workflows – Jump off the approvals merry-go-round. With Melon, you can set up a custom approval workflow to make sure that travel requests are routed to the appropriate managers for review. Once approved, Melon takes care of booking the rest. 

3. Consolidated reporting and expense management 

Your travel program looks blurry when you're looking for your travel spend data among different sources. This is where consolidating your travel data with a single travel management company proves its worth: 

• Centralized data management: The sheer volume of travel data can be overwhelming to say the least. You can spot trends and opportunities to cut travel costs and enhance your travel program from one dashboard. 
• Leveraging the right tools: TMCs offer a range of tools for various aspects of travel management. With a TMC, you can consolidate the tools you need for reporting and quickly view everything from travel expenses to carbon emissions tracking. 
• Nothing gets past you: A common challenge companies face with their travel programs is booking leakage, where employees make bookings outside the approved channels. With consolidated travel data, you can more effectively identify and target booking, supplier, or channel leakage. 

4. Corporate travel discounts & rates 

Business travel isn’t cheap. And if it is not managed effectively, it can be a black hole for your company’s budget. 

Corporate travel rates are special deals that are offered to companies by travel service providers. These rates are specifically designed to cater to the travel needs of individual businesses, giving them access to more economical options and perks that might not be available to the average solo traveler. 

Why? Essentially, travel services providers want to give businesses like yours a more attractive rate so that they can gain your loyalty and secure a high volume of business. 

This includes air travel, hotels, car rentals, and rideshare accounts. 

So how can you benefit? That’s easy – invest in a full travel management package. 

Here at Corporate Traveler, you can expect greater choices without missing out on business travel savings. With a network spanning 90+ countries and counting, we can hook you up with ALL the rates . 

5. Proactive duty of care 

Duty of care is a company’s moral and legal obligation to monitor its employees' safety and security . And when your employees venture beyond the borders of their familiar workspace, their health and safety take center stage. 

Most incidents that occur on business trips are not a matter of life-or-death…but they’re still pretty inconvenient. From a stolen phone to food poisoning, small incidents may add up to lost workdays, wasted business trips, and unhappy employees. 

To keep your travelers safe, they need support and assistance - anytime, anywhere. This not only ensures that they are safe, but also that they feel safe. The safer your team members feel on their travels the more relaxed and productive they’ll be, improving staff retention and streamlining the travel experience. 

The best way to ensure your traveler’s safety? Preparation. Put a plan in place to reassure your travelers and give them a game plan for every situation. With the right prep, you’ll know exactly where all your travelers are and how to reach them at any point of their journey. 

Your business travel matters. Make it count. 

In the dynamic landscape of corporate travel, success hinges on effective management, nuanced strategies, and unwavering support. And if there’s one thing we know for sure, it’s that precision and dedicated guidance pave the way for streamlined, efficient business travel. 

At Corporate Traveler , we understand the intricacies of this realm. Our comprehensive solutions and expert guidance are tailored to elevate your travel program to new heights. 

Travel expertise? Anytime. We get you and your travelers where they need to go. You can depend on a team of real people to support you, 24/7. 

Latest tech? Always ahead. Innovative booking solutions, real-time updates, and on-demand reporting to take visibility to the next level. 

The best fares and rates? Of course. The widest range of travel options with the most perks. Superior value, choice, and savings that add up quickly. 

More savings? Yes, please! Access all the available content from negotiated fares, exclusive deals and perks, and Melon exclusive deals. 

Business travel is an investment, and it should feel simple. Take your business travel to the next level with exceptional service every step of the way. 

With a blend of knowledgeable travel experts and seamless digital experiences, we’ve got you covered from door to door. 

Want to make corporate travel easier? We've got you.  

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Blog / Global Mobility / Guide to Managing Corporate Travel in 2023: Strategies & Tools

Global Mobility

Guide to managing corporate travel in 2023: strategies & tools.

Corporate travel is an essential facet of business growth. Companies worldwide invest significant resources to enhance business travel planning strategies and ensure efficient, safe, and economical employee journeys..

Let’s start with the good news: Corporate travel spending should return to 2019 levels by next year, according to the 2023 Deloitte corporate travel study. In fact, American and European companies expect to see even more spending going toward international travel than before the pandemic. Business travel brings together colleagues and industry peers, improving job satisfaction and progress, so all signs pointing towards more time spent together in person are positive.

However, the nature of business travel has changed alongside travelers’ expectations. For one, they expect booking business travel to be as easy as any other transaction on a mobile app. They’re not prioritized on the best price or deals when booking trips but on the best travel option that aligns with their schedule and loyalty preferences. They expect their business to offer a corporate travel solution that users love with none of the traditional pain points.

Business travelers today also want to get the most out of their trip, which leads to mixing business and leisure. Because they’re spending more time in a location, they want to maintain their healthy habits from home and be able to integrate work and play while in a new destination. Business travelers prefer serviced apartments in local neighborhoods rather than hotels in a central location.

Businesses are responding: According to Deloitte’s 2023 corporate travel study, global corporate travel policies incorporate non-hotel accommodations more than ever. Nearly half of companies today (45%) have non-hotel lodging in their corporate booking and travel tools, versus only 9% last year, and 57% of companies now have agreements with specific branded apartment/home rental providers, up from 23% in 2022.

And lastly, sustainability is a priority for business travelers and companies, leading to smarter travel strategies that connect people without hurting the planet.

Let’s dive into the best practices for managing corporate travel in 2024. Explore proven strategies, tools, and industry trends.

TL;DR 6 tips on how to manage corporate travel effectively

• Robust travel policy to streamline business travel
• Use an integrated travel and expense management tool  
• Incorporate sustainability practices into your travel strategies
• Offer a variety of flexible booking options 
• Encourage employees to use PTO  
• Leverage AI technology to anticipate traveler needs 

What is Corporate Travel Management?

Corporate travel management is the comprehensive organization and oversight of a company’s business travel needs, which involves streamlining travel bookings, creating and implementing travel policies, managing travel budgets, ensuring traveler safety, and optimizing the value derived from corporate travel. It’s a multi-faceted function that requires strategic planning, efficient execution, and constant evaluation.

Corporate travel management is full of challenges that can be overcome with the right strategies and tools.

Challenges of Corporate Travel Management

Let’s look at some of the common challenges associated with corporate travel, and then we’ll dive into how to anticipate and overcome them:

Managing Travel Budgets and Expenses

Imagine an agency with a large team of consultants who must travel regularly for client meetings. The expenses involved in such travel—flights, accommodation, meals, local transportation, car rentals, etc.—add up quickly. 

The travel manager in this situation needs to manage travel budgets and expenses while also providing a positive travel experience and ensuring that the travel results in value for the business. The challenge is compounded by the variability of costs in different locations, fluctuating exchange rates, and the need for last-minute travel changes.

Ensuring Traveler Safety and Risk Management

Companies with a global presence frequently ask employees to travel, sometimes requiring travel to potentially high-risk regions. Ensuring their safety and well-being must go beyond travel insurance to account for full duty of care, which involves risk assessments, pre-travel briefings, and a robust crisis plan.

As revealed by a GBTA survey, there still needs to be more policies related to female traveler safety. With increasing numbers of women traveling for work, companies must address issues such as late-night arrivals, accommodations in safe neighborhoods, and emergency support services. Addressing these needs can pose challenges, especially when dealing with different cultural norms and standards in various countries.

Ensuring Policy Compliance and Effective Communication

Implementing corporate travel policies effectively across a large or geographically diverse company can be daunting. For instance, a company might have strict guidelines regarding the class of travel allowed, preferred airlines, and approved hotel chains aimed at controlling costs and ensuring the safety and comfort of their employees.

However, it is a significant challenge to ensure that all employees are aware of these policies, understand them, and comply with them every time they travel. The company must establish effective communication channels to disseminate this information and ensure it is readily available.

Furthermore, it can be challenging to track compliance, especially if travel booking is decentralized or the company works with multiple travel agencies. In this case, the company should consider investing in modern travel management software to monitor compliance effectively.

Evaluating and Optimizing the Travel Program

Maintaining a high-performing corporate travel program is a continuous process that involves regular evaluation and optimization. 

A finance team can partner with travel management stakeholders to evaluate the travel program based on a wide range of data, such as travel expenses, traveler feedback, compliance rates, and performance metrics of travel service providers. Based on this analysis, the company might need to negotiate new contracts with airlines or hotels, revise its travel policies, or provide additional resources for traveler support.

Commonly Used Solutions for Booking Corporate Trips

Navigating the intricate domain of corporate travel demands an informed choice of booking solutions. This analysis dissects three prevalent strategies: 

External corporate travel management

In-house management

Traditional travel agents

Each presents a distinct blend of features, advantages, and potential impediments, requiring businesses to astutely weigh them against their specific travel needs, fiscal boundaries, and overarching objectives. Let's distill these solutions that underscore the indispensable role of technology in streamlining corporate travel, irrespective of the selected modus operandi.

1. External Corporate Travel Management

The decision to outsource travel management to external experts can significantly improve the efficiency and effectiveness of a company's travel program. External travel management companies are equipped to manage a multitude of responsibilities that ultimately save companies time, resources, and ensure an exceptional travel experience for employees.

Advantages of outsourcing travel management to external experts

The advantages of outsourcing travel management are manifold, but the real value lies in the integration of these key components within modern corporate travel management solutions :

Travel Policy Implementation: External experts craft well-defined travel policies, setting out clear guidelines for bookings, expenditures, and responsibilities, ensuring regulatory compliance and encouraging responsible employee behavior.

Unified Travel Booking and Expense Management: By employing centralized platforms for booking and expense management, these external entities ensure seamless, streamlined operations, alleviating administrative burdens on the corporate travel manager and other internal teams.

Supplier Relationship Management: Leveraging their industry relationships, external corporate travel managers negotiate favorable rates with airlines, hotels, and car rental agencies, enhancing your travel inventory and yielding significant cost savings.

Traveler Safety and Security Measures: They shoulder the company’s duty of care by implementing effective travel risk management strategies, and provide access to travel assistance services, thus bolstering the safety and security of traveling employees.

Budgeting and Cost Control: These experts optimize travel expenses through strategic travel logistics , data analysis, and efficient tracking of expenses at the point of sale, offering a robust mechanism for cost control.

Data-Driven Reporting and Analytics: Harnessing the power of real-time travel data, external travel managers provide valuable insights that enable companies to identify cost-saving opportunities, monitor supplier performance, and enhance program effectiveness.

Communication and Training Initiatives: External experts also facilitate clear communication with employees about travel policies and safety protocols, and offer training or resources on using travel management tools, enhancing compliance and employee satisfaction.

Innovation Travel Management Tools

Several innovative tools and companies are changing the game in corporate travel management.

• AltoVita - A comprehensive platform offering end-to-end business travel solutions and global mobility software .

2. Navan - An intuitive travel management tool that enables efficient planning, booking, and expense reporting.

3. Egencia - A globally recognized travel management platform that seamlessly blends technology with customer service.

4. SAP Concur - A tool that integrates travel, expense, and invoice management into one system for total visibility and control.

5. TravelPerk - An all-in-one platform providing flexibility, transparency, and round-the-clock customer support for business travel management.

These tools help streamline the corporate travel process, delivering increased efficiency, transparency, and cost-effectiveness.

2. In-House Corporate Travel Management

In-house corporate travel management is where companies manage all aspects of their business travel internally rather than outsourcing these tasks to external travel management companies, travel agents or corporate travel sites .

The structure of in-house travel management teams can vary greatly depending on the size and nature of the company, as well as the extent and complexity of its travel needs. However, a corporate travel manager leads the team and oversees and coordinates all travel-related activities. The corporate travel manager works with a team that may include travel coordinators, travel risk analysts, administrative staff, and stakeholders from the finance department.

Considerations and Challenges

Companies with unique or particular travel needs are more likely to opt for in-house travel management solutions. For example, consider companies in sectors like oil and gas that often send employees to remote or high-risk locations, requiring specialized travel arrangements and risk management strategies, or consulting companies that manage a high travel volume with complex itineraries and last-minute changes. 

While in-house travel management solutions offer control and customization, they can be resource-intensive. The success of in-house travel management largely depends on the skills and capabilities of the team, making talent acquisition and retention a crucial aspect.

While in-house travel management had its place in the past, even travel managers today should leverage ingenious solutions to book better travel and access real-time data and insights that help optimize even the trickiest travel programs.

3. Travel Agents

Travel agents offer professional expertise and can handle many aspects of corporate travel, such as booking flights and accommodations. They can save time, provide personalized service, and often have easy access to special deals or rates. 

Perhaps unsurprisingly, the desire for human connection and personalized service post-COVID drives a continued interest in travel agents. A 2021 poll by the American Society of Travel Advisors found 76% of advisors saw an increase in customers compared to before the pandemic, while 81% said they were hearing from consumers who had never used an advisor before.

Benefits and Limitations

While travel agents offer several benefits, relying solely on them may limit your company’s control over its travel booking process and may not provide the comprehensive management needed for larger or more complex corporate travel programs. 

Since travel agents have a narrower scope than travel managers, the company would still rely on finance departments to file expense reports and business managers to oversee the approval process.

The best value of travel agents today is leveraging their human touch alongside technology for employees business travel. When a flight is canceled or an airline goes on strike, travelers want an experienced agent to speak to even though they’re probably more efficient in personalizing their travel booking without agent help for more routine travel booking.

How to Manage Corporate Travel Effectively

In an evolving corporate travel landscape, businesses must adapt to new trends and challenges. Successful corporate travel management requires innovative solutions and strategies. Let’s review six ways to streamline business travel to boost productivity, save time, and reduce corporate travel expenses .

1. Develop a Comprehensive Travel Policy

The cornerstone of effective corporate travel management is a robust, clear, and comprehensive travel policy. This policy is more than just a set of rules; it’s an essential tool that promotes cost-efficiency, effectiveness, and simplicity in business travel. 

Beyond managing costs, a well-formulated business travel expenses policy encourages responsible employee behavior and ensures compliance with legal requirements. Consider critical components such as booking guidelines, expensing procedures, safety protocols, and mandating the company-selected online booking tool in crafting a travel policy.

2. Leverage an Integrated Travel and Expense Management Solution

By leveraging an integrated travel and expense management solution, businesses can realize considerable cost savings. Tech-powered solutions provide valuable real-time data insights, enhance policy compliance, reduce processing costs, and prevent fraud. These systems offer real-time updates and control over all travel-related expenses and can save time, redirecting employee effort towards more productive tasks.

3. Incorporate Sustainability Practices

The growing interest in sustainable corporate travel only makes sense, as including eco-friendly practices in your travel strategy is imperative. Options such as favoring train travel over flights, where feasible, can significantly lower your carbon footprint. 

Given the sustainability targets set by many businesses, climate-conscious choices will continue to shape corporate travel decisions in the coming years.

4. Offer Flexible Bookings Options

The dynamics of business travel have changed significantly post-pandemic. Today’s corporate travelers seek longer stays, healthier habits, and a blend of work and leisure. Corporate travel policies are increasingly including non-hotel accommodation options to cater to these needs. 

As per Deloitte’s 2023 corporate travel study , around 45% of businesses now offer non-hotel lodging in their online booking tools, a significant increase from the previous year.

5. Promote Paid Time Off (PTO)

Encouraging employees to utilize their PTO combats burnout and boosts creativity. This practice enhances productivity and fosters a more attractive work environment for current and prospective employees. Additionally, employers recognize the value of travel incentives over traditional cash bonuses, tapping into the modern preference for experiences over material possessions.

6. Take Advantage of Artificial Intelligence

AI has emerged as a powerful tool in anticipating the needs of business travelers and proactively offering solutions to manage travel well. Advanced AI can streamline the travel experience, from personalized travel recommendations to automated expense reporting, making corporate travel management more efficient, cost-effective, and less stressful.

Top Corporate Travel Trends for 2024

As we navigate the evolving landscape of corporate travel in 2023, several key corporate travel trends are emerging, shaping the future of the industry. From the revival of live events and the adoption of “bleisure” travel to a shift towards serviced apartments and a heightened focus on sustainability, the corporate travel sector is undeniably experiencing a transformative period.

The Resurgence of Live Events 

A beacon of hope is shining in the sector with the return of live events. 

Travel managers anticipate a boost in business travel, driven primarily by industry events. Following a period of dormant activity, live-event attendance is expected to leap from being the fifth-largest trigger for increased travel spend in 2022 to the top spot in 2023. Over half of travel managers in the United States and Europe are optimistic that industry events will invigorate travel growth this year.

The Rise of “Bleisure” Travel

The blending of business and leisure, or “bleisure” travel, is surging. According to The State of Corporate Travel and Expense 2023 from Skift and Navan , 54% of companies now encourage employees to take personal time before or after a business trip. According to Skift’s 2023 State of Travel report, The percentage of business travelers who extended their business trip for leisure purposes was about a quarter in Australia and the UK, half in the U.S., and almost three quarters in India.

Shift from Hotels to Serviced Apartments 

With the changing nature of business travel post-pandemic, corporate travelers are increasingly favoring non-hotel accommodations. Deloitte’s 2023 corporate travel study reveals a significant policy shift to include non-hotel accommodations in travel itineraries, as almost half of businesses now accommodate such bookings. 

Nearly half of companies today (45%) have non-hotel lodging in their corporate booking tools versus only 9% last year, and 57% of companies now have agreements with specific branded apartment/home rental providers, up from 23% in 2022. This preference emphasizes the desire for a more integrated, home-like travel experience for business relationships, capable of supporting both work and leisure activities.

Sustainability: A Strategic Priority 

According to Skift’s 2023 State of Travel report , 63% of companies are interested in increasing sustainable business travel, even if it costs more. 

According to the study from the WTTC: A World in Motion Shifting Consumer Travel Trends in 2022 and Beyond most travelers are seeking and choosing sustainable travel options.

In response to rising environmental consciousness, sustainability has become a central focus in corporate travel. More than half of companies are prepared to increase their travel spending only on sustainable business travel, echoing the preferences of most travelers. Recognizing the environmental affect of corporate travel, most businesses aim to reduce their carbon footprint, with over 40% of surveyed companies actively optimizing their policies for a lesser environmental affect. Amid these changes, travel suppliers are also investing significantly in green initiatives and developing strategies to cater to the emerging demand for sustainable travel options.

These trends represent a seismic shift in the corporate travel landscape, redefining how we perceive and manage business travel. It’s an exciting time for the travel industry; one platform is ripe with opportunities for innovation and growth and a clear focus on sustainability and traveler well-being. As we progress, we must remain adaptable, adopting and incorporating these emerging trends into our corporate travel strategies.

Takeaways 

Effectively managing corporate travel in today’s evolving global business travel landscape is an art that requires strategic foresight, adaptability, and efficient resource utilization. The fast-paced shifts in the sector and the changing preferences of corporate travelers underscore the need for businesses to stay informed and agile. Here are the key takeaways from our comprehensive guide to corporate travel management in 2023, encapsulating the essential strategies and trends you need to consider to streamline your business travel operations and cater to the needs of your traveling employees effectively.

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Corporate Travel Management - An Introductory Guide

Corporate travel is no longer a mere logistical task; it's an odyssey. An odyssey where the challenges of itinerary planning, ensuring employee safety, managing costs, and maintaining visibility. In this guide, we embark on an end-to-end exploration of the corporate travel landscape.

WegoPro Team

In the pulsating heart of today's corporate world, where business transcends borders, the realm of corporate travel has become a thrilling saga of challenges and triumphs. Picture this - executives jetting across continents, forging alliances, and conquering new markets. Yet, beneath the glossy sheen of success lies the intricate tapestry of corporate travel management, a symphony of complexities that demand not just orchestration but an avant-garde composition.

Corporate travel is no longer a mere logistical task; it's an odyssey. An odyssey where the challenges of itinerary planning, ensuring employee safety, managing costs, and maintaining visibility are the mythical beasts that demand a strategic Hercules armed with innovative tools and visionary tactics.

In this guide, we embark on an exploration of the corporate travel landscape, navigating the labyrinth of obstacles and emerging victorious with the golden fleece of streamlined efficiency.

The Hassles of Corporate Travel

Let's look into the challenges faced in corporate travel.

Complexity in Itinerary Planning

Corporate globetrotting entails meticulous itinerary planning, a task that has evolved into a labyrinth of choices and considerations. Coordinating flights, selecting optimal accommodations, and managing ground transportation demand a level of precision that can quickly overwhelm travel managers and administrators.

To address this, organizations can deploy advanced itinerary planning tools that not only automate the process but also consider factors like preferred airlines, travel policies, and cost efficiency. Incorporating machine learning algorithms can further optimize travel plans based on historical data and employee preferences.

Ensuring Employee Safety

The evolving global landscape necessitates a heightened focus on employee safety during business trips. Unforeseen events, from natural disasters to health crises, underscore the need for organizations to have robust risk management strategies in place.

Implementing comprehensive risk management tools that provide real-time updates, travel advisories, and emergency response plans is crucial. These tools not only enhance employee safety but also fortify an organization's duty of care, showcasing a commitment to the well-being of its workforce.

Cost Overruns and Inefficient Spending

Corporate travel budgets often become a battleground for financial prudence. Overspending, inefficient allocation of funds, and challenges in enforcing travel policies contribute to cost overruns.

To combat this, organizations can leverage advanced analytics tools that offer insights into spending patterns. Predictive analytics can assist in forecasting travel expenses, allowing companies to allocate budgets more effectively. Integrating travel and expense management systems ensures a holistic view of financial data, enabling organizations to identify areas for optimization and enforce policies with greater precision.

Lack of Visibility and Control

Maintaining real-time visibility over employee movements is essential for proactive decision-making and policy enforcement. A lack of visibility can lead to compliance issues, unexpected costs, and difficulties in optimizing travel policies.

Here, organizations can adopt sophisticated travel management platforms equipped with real-time tracking features. These platforms not only provide visibility but also empower organizations to make data-driven decisions. Machine learning algorithms can analyze historical data to predict future travel patterns, enabling proactive policy adjustments.

Tools to Navigate Corporate Travel Hassles

Travel management platforms.

Investing in robust travel management platforms is instrumental in overcoming the challenges of corporate travel. Platforms like Concur, Expensify, or TripActions offer end-to-end solutions, from itinerary planning to expense management. These systems streamline the booking process, ensure compliance with policies, and provide valuable insights through analytics.

Organizations can go a step further by integrating these platforms with their Enterprise Resource Planning (ERP) systems. This integration facilitates seamless data flow between travel and financial management, reducing manual intervention and enhancing overall efficiency.

Risk Management Tools

In an era marked by global uncertainties, risk management tools play a pivotal role in ensuring employee safety. Platforms like International SOS and WorldAware provide real-time alerts, travel advisories, and emergency response plans. Integrating these tools with communication systems ensures swift and coordinated responses during crises.

Organizations can also conduct regular drills and simulations to familiarize employees with emergency procedures. This proactive approach enhances preparedness and contributes to a culture of safety within the organization.

AI-Powered Expense Management

The integration of artificial intelligence (AI) into expense management systems is revolutionizing how organizations handle financial aspects of corporate travel. Tools like Rydoo and Zoho Expense leverage AI algorithms to automate expense tracking, categorization, and policy enforcement.

AI-powered systems not only reduce the administrative burden but also enhance accuracy by identifying patterns and anomalies in spending. Integration with corporate credit card systems further streamlines the reimbursement process, providing employees with a seamless experience while ensuring compliance with financial policies.

Data Analytics for Informed Decision-Making

To truly harness the potential of corporate travel, organizations should leverage data analytics for informed decision-making. Analyzing historical travel data can reveal patterns, preferences, and potential areas for cost optimization.

Implementing predictive analytics can aid in forecasting future travel expenses, allowing organizations to proactively adjust budgets and policies. Business intelligence dashboards provide executives with a comprehensive view of travel-related KPIs, empowering them to make strategic decisions that align with organizational goals.

The Symbiotic Relationship: Travel and Expense Management

Recognizing and nurturing the symbiotic relationship between travel and expense management is paramount for organizational success. Integrating these processes not only ensures financial accuracy but also provides a holistic view of the entire travel lifecycle.

Real-Time Data Integration

Linking travel and expense management systems in real-time offers organizations a dynamic understanding of their financial landscape. This integration facilitates seamless tracking of expenses related to travel, aligning it with organizational budgets and policies.

Policy Enforcement and Compliance

A unified approach to travel and expense management enables organizations to enforce policies consistently. Automated systems can flag non-compliant expenses, reducing the burden on finance teams and ensuring adherence to regulatory requirements.

Strategic Decision-Making

By integrating travel and expense data, organizations can uncover valuable insights that inform strategic decision-making. This includes identifying cost-saving opportunities, negotiating favorable vendor contracts, and aligning travel policies with overall business objectives.

Employee Experience and Satisfaction

A cohesive travel and expense management system contributes to a positive employee experience. Streamlined processes, timely reimbursements, and transparent policies enhance employee satisfaction, fostering a corporate culture that values the well-being and convenience of its workforce.

As the final curtain falls on our journey through the corridors of corporate travel management, it's clear that what was once a choreographed dance of flights, hotels, and expenses has transformed into an avant-garde masterpiece. The challenges, once daunting, now stand conquered by the might of technologically advanced cutting-edge tools and strategic integration.

In the grand symphony of corporate travel and expense management, each note plays a vital role. The complexity of itinerary planning becomes a harmonious melody, employee safety emerges as a reassuring refrain, and cost management resonates like a finely tuned chord. The synergy between travel and expense management, once a mere subplot, now takes center stage, orchestrating a crescendo of efficiency and employee satisfaction.

As organizations continue their odyssey through the ever-expanding global landscape, armed with the knowledge and tools unveiled in this guide, they aren't just managing corporate travel—they are composing a sonnet of success. The once hellish terrain of business trips now transforms into a fertile ground for productivity, growth, and lasting experiences, echoing the triumphant refrain of a well-managed corporate travel odyssey.

Stay tuned to WegoPro for the latest updates and news on the travel industry!

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• Expensya.com

The ultimate guide to corporate travel management   

Business travel is an essential part of the operations of today’s multinational corporations. While technological advancements such as virtual meetings and digital document transmission are beneficial to today’s travel industry, many firms still rely on face-to-face meetings and worldwide networking.

As organizations deal with financial constraints, increased travel expenses, and limited availability in major business destinations, managing employees’ corporate travel plans has become an increasingly essential concern.

Table of Contents

What is corporate travel management?

Corporate travel management or CTM is known for the way a firm organizes, records, and reports on business travel and costs. Corporate travel management does not only entail booking flights and accommodations. It also covers the logistical, financial, and security aspects of business travel.

What is a corporate travel manager?

All elements of corporate travel are the responsibility of the travel manager. They assist in the creation of a company’s travel policy, the management of travel plans, the organization and monitoring of travel costs, and the health and safety of business travelers.

A travel manager is responsible for evaluating data after the trip and applying it to simplify and enhance future business travel. They must have a diverse range of skills, including strong communication and organizational abilities, as well as the ability to think strategically.

What do corporate managers do?

Setting a business travel policy  is one of the most important roles of a travel manager. This includes all potential trip expenditures and established rules and procedures for staff to follow when planning a trip. Information regarding the following aspects of the company’s business travel activities should be included in the policy as well. Their responsibilities include:

• Booking trips and accommodation for travelers
• Booking and organizing group trips
• Looking out for the wellbeing of business travelers, pre, during and post-trip
• Keeping track of the company’s travel budget and making sure travel spend stays under budget
• Choosing and managing travel vendors
• Evaluating or delivering travel spend reports to the finance team for analysis

How to manage corporate travel?

Companies have the choice to manage corporate travel in-house or to outsource it.

Outsourcing means that a corporate travel agent or agency is in charge. Whereas when travel management is handled in-house, it means that it’s done through a corporate travel manager.

However, this does not imply that a corporate travel manager must manage all travel on their own. Companies that provide travel management software provide platforms to assist both travel managers and travelers with all aspects of corporate travel.

Businesses benefit from the services of travel management companies in the following ways:

• Create travel policies for the company.
• Centralize all travel booking.
• Organize the schedules of your staff.
• Real-time tracking of travel expenses.
• Report all trip costs accurately.
• Get access to traveler assistance 24/7.

How to manage travel expenses in corporate?

Managing travel expenses in corporate is a part of a bigger persistent issue within companies and that is how they handle their expenses.

Companies have long focused on cost control and compliance but now, the focus has shifted to decreasing the time spent on expense submission, approval, and reimbursement. In other words, simplifying the process for employees and reducing these time-consuming tasks for higher productivity.

Hence the rising interest in travel and expense management software in general. These tools provide a platform for users to plan, purchase, and track travel costs. Companies use this software to make purchasing selections easier, to keep track of employee travel expenses in one place, and to control corporate travel budgets. Users may arrange and automatically record their trip purchases with the help of travel management systems. This program also allows accountants and managers to run reports and pay employees, improving visibility between managers and employees about business travel. It also guarantees that employee travel for business is compliant with corporate rules.

Expensya provides a simple solution to track and organize business expenditures in general. And thanks to its partnerships with major actors in the business travel industry, such as Travel Perk and Egencia, Expensya allows its users to centralize the whole business travel experience from booking to accounting- all done on the go. Find out more about features to simplify your business trips.

Why are corporations moving towards in-house travel management?

Corporations are becoming more and more aware of the importance of having in-house travel management rather than outsourcing it.

In fact, when corporate travel management is handled in-house, your firm is dealing with a trusted employee that they have picked and who best fits the profile of the candidate they are looking for.

Additionally, having someone close by makes planning easier and enhances your level of comfort while arranging work trip arrangements. Travel records are easy to get as a result of this. Efficiency is also a big advantage of in-house CTM. A corporate Travel Management team will focus on cost savings and better reporting. They’re also in charge of making sure that colleagues travel safely and that all applicable travel regulations are followed.

A business travel manager will also keep track of how much money is spent transporting personnel to and from their destination in the most cost-effective manner feasible. They realize, though, that an employee should be comfortable when traveling, so it’s not always about finding the cheapest tickets or lodging. However, because they provide bulk bookings, they can negotiate the best pricing with the travel source. A skilled travel manager can save money on travel that considerably outweighs their compensation. Having someone looking out for the bottom line pays off hugely.

 Read more about Travel Manager roles and responsibilities.

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What Is Corporate Travel Management and Why Do You Need It?

By Randi Gollin | American Express ® Freelance Contributor 4 Min Read | September 17, 2021

Whether your organization has mushroomed from a mom-and-pop shop to a larger business with a traveling workforce, or arranging business trips has become too much for your human resources or finance department to handle, there comes a time when it makes sense to implement a corporate travel management program.

Here’s an overview of how corporate and small business travel management programs work, including how they can benefit companies that prioritize both domestic and global travel.

What Is Corporate Travel Management?

Corporate travel management (CTM) is the framework that companies administer to successfully handle business trips and travel and entertainment (T&E) expenditures. CTM programs oversee, organize, and manage business travel end to end, including activities such as approving and booking flights and hotels, managing business credit card spending , ensuring employees comply with company travel policies, and recordkeeping.

Though these programs are commonly referred to as corporate travel management, even small organizations can benefit from a dedicated business travel management program.

How Does Corporate Travel Management Work?

As travel becomes more expensive, safety concerns heighten, employees become more mobile, and companies more global, the job of arranging everything from travel visas to restaurant reservations becomes more challenging. To effectively manage travel tasks, it’s often necessary to develop a CTM program. Depending on the company’s needs, this could mean one or more of:

• Hiring a corporate travel manager.
• Establishing an in-house corporate travel management team.
• Hiring an external corporate travel agency.

Smaller companies may be better off developing and hiring in-house business travel management teams to ensure that the workforce complies with company travel policies like spending caps and using approved vendors. Depending on the organization, a CTM program may grant employees the autonomy to self-book travel and accommodations that comply with company travel policies. Companies may even integrate automated travel management software systems that can be customized with budget restrictions and approved suppliers to better manage travel spending.

For larger corporations with major travel requirements, it can make sense to hire an external corporate travel agency that takes over all tasks related to business travel. As specialists in their field, they may be better able to negotiate the best rates while keeping employees’ comfort top of mind, handle global business travel management tasks, and take the time-consuming job of booking trips away from busy HR or finance departments. These professionals might implement corporate travel software that includes a booking tool, expense management tools, and reporting and analytics capabilities. These software tools may even use Global Distribution Systems (GDS) to pull up real-time data about hotel room availability, flight data, car rentals, and other pertinent travel information.

Benefits of Corporate Travel Management

The benefits of CTM programs are important to some companies because, for many employees and executives, company travel is so vital a part of doing business. Though video-conferencing calls have become routine, when it comes to building and nurturing relationships with clients and colleagues, converting prospects into customers, and networking with industry professionals, there’s no substitute for personal interaction. In fact, it’s reported that U.S. travelers took 462 million domestic business trips in 2019, and that number is expected to climb to 499.4 million by 2022. 1

Given the importance of business travel, companies may wish to consider the benefits of CTM programs, such as:

• Cost reduction : CTM agents, teams, and specialists should have greater travel expertise than the typical employee. They’re usually better fit to negotiate or find the best deals for flights, hotels, insurance, and other travel-related expenses.
• Time savings : Organizing a business trip takes a lot of time and effort, especially if your workforce travels often. CTM teams relieve your employees or finance department of that burden, allowing them to focus on their jobs.
• Policy enforcement : CTM professionals can help enforce corporate travel policies, enabling companies to monitor and reinforce compliance around hotel, car, and airfare spending caps, vendor stipulations, and more.

How Business Credit Cards Can Help Streamline Corporate Travel Management

Some companies manage business travel expenses by asking their team to report expenses with the promise of reimbursement. But expense reporting can become difficult to manage as an organization grows, and the paperwork can become onerous.

For many companies, a more workable approach is to integrate corporate credit cards into their CTM programs. This can make it easier to monitor expenses and reconcile transactions. For example, business and corporate credit card programs often come equipped with expense tracking tools that can ensure spending visibility for employees and management. Stakeholders can monitor compliance with travel policies, validate expenses without paper receipts, and see what employees are spending. Automatic reconciliation can save time, while expenses can be integrated into a company’s accounting system, simplifying the often-tedious approval process. What’s more, card activity may be fed into the travel management software to further streamline the process.

Other benefits to integrating CTM programs with business credit cards for employees include:

• Closing loopholes for fake receipts or receipt manipulation.
• Increased security protection against theft, loss, and unforeseen incidents like accidents and mishandling, thanks to common business credit card benefits like travel insurance.
• Access to credit card perks, such as earning rewards, saving money on air travel and hotels, and gaining access to airport lounges.

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The Takeaway

Corporate travel allows employees and executives to forge bonds with colleagues, turn business prospects into clients, and gain inspiration from new horizons. Corporate travel management (CTM) programs help to minimize the time-consuming aspects of business travel, like bookings and reporting paperwork, along with some of the other pain points of business travel. An effective CTM program can help organizations implement company travel policies, booking, track T&E expenditures, and successfully integrate business credit cards .

View Article Sources

1 “ Number of domestic and leisure trips in the U.S. from 2008 to 2019, with a forecast until 2024 ,” Statista

Randi Gollin

A freelance writer and editor who’s covered topics including shopping, travel, dining, and food for tech and media brands and digital publications.

This content was written by a freelance author and commissioned and paid for by American Express. 

The material made available for you on this website is for informational purposes only and is not intended to provide legal, tax or financial advice. If you have questions, please consult your own professional legal, tax and financial advisors.

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What is corporate travel management.

Posted Dec 12, 2022

Corporate travel management (CTM) is the structure that companies have in place to organise and facilitate business trips, as well as travel and entertainment (T&E) expenditures. This can include anything from approving and booking travel and accommodation to managing business spending and record keeping.

Some businesses will handle corporate travel management internally with their own travel managers. However, others will often outsource corporate travel management to external transport experts who will manage the logistics on their behalf.

How does corporate travel management work?

Corporate travel management can seem pretty complex at times. Businesses need to ensure not only that systems are set up correctly to ensure that employees reach their destinations safely, but also that there is someone monitoring and managing each journey.

Expenses, mobility, comfort and safety all need to be taken into consideration for each traveller — not to mention any special travel requirements that any individuals may have. To keep on top of and effectively manage each element of corporate travel, companies will develop a CTM strategy that will often fall into one of two categories: in-house or external.

In-house vs external travel management

In-house travel management agents.

Businesses that choose to handle their corporate travel management internally will usually hire a dedicated corporate travel manager to oversee the logistics of each business trip.

An in-house corporate travel manager will be solely responsible for booking travel and accommodation, making any last-minute amendments to itineraries and finding the best deals to maximise travel cost savings. Depending on the company, a corporate travel manager may also be in charge of overseeing any aspects of automated travel management within the business, such as self-book travel or automated software.

One of the benefits of an in-house travel manager is the peace of mind of knowing that you’re working with a trusted employee who is sure to adhere to your organisation’s best practices and values when booking corporate travel.

External Corporate Travel Management Agents

While internal travel managers have their positives, they may not have the resources to keep up with large organisations that have a constant rotation of business trips that all need managing at one time.

This is where external travel management agents come in. Often working as a dedicated team rather than as individuals, external agencies are experts in the travel industry and will take over all elements of business travel on your behalf. They may even be able to use their connections and leverage as experts to help you secure better deals and rates on your journeys.

Another benefit to external travel managers is that they will be available 24/7 to make last-minute travel amendments, or to assist with any emergencies — a crucial benefit when travelling within different time zones. This makes situations like cancelled flights or lost luggage much easier to deal with.

The biggest challenges of in-house corporate travel

1. managing large numbers of requests.

While larger organisations will often have a dedicated in-house travel manager, smaller businesses may pass on this role to a member of their finance or administration teams.

However, it’s not the additional work for these employees that is the real challenge, it’s the haphazard nature of travel requests. When corporate travel is frequent and team members don’t know the proper booking procedures, these in-house travel managers will feel the sting of a lack of automation within the business — making the travel booking process needlessly time-consuming.

2. Tracking approvals

Handling travel requests is one thing, getting approval is another. Whether it’s a manager or the CEO, travel requests need to be signed off before any steps can be taken to book travel.

While external travel management companies can be given a detailed list of parameters to adhere to, streamlining the approval process, internal staff will need sign-off for everything from the cost of travel to the number of team members who are travelling.

3. Keeping spending in check

While travel can be essential, no business wants to spend more than they need to. Travel managers are therefore left with the challenge of balancing the experience and end result of each trip with the cost it takes to complete.

If not properly managed, travel budgets can become swollen and can lead to turning down reasonable requests due to a lack of available funds. A common pitfall of many travel managers is relying solely on “business hotels” and booking with travel agents. These options come at a premium and are usually chosen for convenience or as a way to feel more professional.

By taking the time to source your own accommodation through tools like comparison sites — just like you would in your personal life — you can save on travel spending while still finding accommodation that suits your business travel needs. Alternatively, opting for an external travel management company will give you access to rates not available to the general public.

4. Being flexible

While travel serves a purpose for the business, your employees are doing you a favour by taking part. As such, it’s important to help make each trip feel like an enjoyable experience, allowing them to get something out of the journey as well as the company.

Being flexible plays a big role in helping you achieve this. By providing your team with the opportunity to choose certain aspects of their journey — such as choosing between public transport or renting a minibus — you can develop a travel itinerary that aligns with the wants and needs of both the business and your employees.

5. Reducing errors

Nobody likes making mistakes, but unfortunately, they happen — and when it comes to business travel, they can be costly.

Every time a corporate travel manager needs to fix a mistake, it’s time that they’re not getting back and could have been put to better use elsewhere. But it’s not just an issue of distractions, mistakes like missing receipts or inaccurate expense claims can add up to costing the business.

Ease the burden on your business

Corporate travel management is a complex field of specialisation that requires significant skills in multitasking, organisation and bookkeeping. While it’s possible for some companies to delegate corporate travel management to employees, external teams of experts allow your staff to focus on what they do best.

Learn more about CMAC’s corporate travel management services and employee transport management solutions to see how we can ensure your business trips always go off without a hitch.

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One Program. One Platform. One Team.

Global Tools, Powered By One Platform.

Welcome to ctm. we do global business travel, differently., corporate travel management (ctm) is a global leader in business travel management services. we drive savings, efficiency, safety and sustainability to companies and their travelers in every corner of the world..

When you partner with CTM, you’ll enjoy the experience of global travel done differently – a uniquely designed global travel management program, built with you and for you, consistently and expertly delivered in every region you operate in. We design travel programs that drive strategic results for every part of your business and every member of your team, in every region you operate in.

That’s the CTM difference.

If you are looking for a tailored travel management solution, delivering customer service excellence , innovative travel technology and a demonstrable return on investment, you’re in the right place.

Time to discuss your global travel needs?

Explore our global travel solutions

Global travel, powered by one travel program.

No matter how large, diverse, and complex your business or travel needs, we’re committed to designing simple, safe and sustainable solutions that deliver measurable results.

At CTM, we take a highly consultative and curated approach to designing your global travel program, ensuring a solution that meets your business’s unique goals, challenges and opportunities.

We work with your team to source and select the right solutions for your business and people in every market you operate in and package them up into one program, accessed through one platform and supported by one team , to give your unique global travel program a place to call “home”.

One Program

Every aspect of your business travel, strategic meetings and corporate events needs consolidated into one strategic program to maximize savings, efficiencies and duty of care.

One Platform

A uniquely curated suite of global travel tools, configured to your global and regional business needs, and seamlessly integrated in a single global travel platform.

A carefully crafted team of global travel experts, identified for their expertise and experience in delivering strategic results and first-class experiences wherever you need them.

Take your first step towards better business travel with Corporate Travel Management.

Transformative business travel technology.

Global scale, local expertise, agile tech

The scale to achieve maximum savings, the spread to provide consistent local market expertise, and the agility to solve tomorrow’s travel challenges today.

Built for simplicity, consistency, flexibility

We take a highly consultative, curated approach to designing unique, simple and effective global travel solutions which deliver strategic results today and into the future.

Your Feedback Drives Our Roadmap

We put you front and center of our product and service roadmap, ensuring you benefit first from the fastest, most relevant and impactful solutions.

Take a tour of CTM's global travel solutions

Testimonial

CTM has established itself as a well-respected travel management provider within the global travel sector, one which actively contributes to the continued growth, diversification and digital transformation of the travel industry.

- Matteo Zanarini, International Air Transport Association (IATA) -

CTM has been an innovative industry leader in the corporate travel market for many years, both technologically and strategically. This is a market segment that is undergoing serious upheaval and CTM has shown its ability to navigate some turbulent times and come out as a leader in its field.

- Peter Harbison, CAPA Centre for Aviation -

Sabre values its long and mutually beneficial relationship with Corporate Travel Management. As their global technological partner, we have developed trusted relationships with the CTM team and respect their track record of performance and technological innovation.

- Andy Finkelstein, Sabre Travel Network -

Corporate Meetings & Events

Take your corporate meetings and events to a new level of performance with CTM’s specialist  event management team, ETM. Our expert event organizers ensure strategically designed meetings and events which deliver exceptional attendee experiences, more strategic outcomes for your business, and a better return on your travel budget.

Benefit from our extensive supplier relationships to leverage corporate deals on accommodation, travel and entertainment, saving you time and money. Moreover, consolidate your corporate and event travel spend through CTM for stronger supplier negotiations, maximizing your overall budget’s potential. Whether it’s corporate events, strategic meetings, conferences, group travel, team-building activities, or sales incentives, we tailor your event management solution to exceed expectations and drive business success.

Partner with us for a connected event experience that drives results for your business, people, and budget.

Looking for a regional travel solution?

You're in the home of global travel programs! If you're looking for a regional solution for your business travel needs, visit your local CTM website to explore our award-winning regional travel services.

What do business travelers really value?

Are you evaluating your Travel Management Company’s services and your company’s travel management policy based on cost savings or on value? The difference is worthwhile knowing. While most companies focus on bottom-line costs, the easiest to measure and understand, value will determine the health and well-being of a company in the long term. However, value is harder to measure and to understand.

According to a recent report by Bain & Company, an international management consultancy firm, most managers evaluate products and services on price and value. The report shows value is divided into four different categories and value can be either functional, emotional, life-changing and/or have social impact. What each consumer finds valuable depends not only on their personal preferences but the context in which the product or service is used.

Business travelers are not unlike standard consumers. Although they consider price when booking business travel arrangements, travelers will go rogue if they can find a choice outside travel policy stipulations that better meets their needs or an option that they perceive to be of more value.

Mobile technology in business travel | FCM Travel Solutions

The question is, what do business travelers deem valuable? Guided by feedback from its Client Advisory Group, FCM Travel Solutions develops new concepts and features that offer value to business travelers by addressing their common pain points.

When 80% of travel managers showed interest in analysis around the effects of travel to their travelers, FCM used traveler analytics to benchmark the impact of travel on an employee.

The TMC gauged booking class preferences, flight times, low-cost carrier usage, single flight legs, travel over weekends and other metrics. FCM took the research a step further by considering what the cost increase implications would be on the company's travel program if new ideas around travelers’ welfare were implemented.

Often, Account Managers are asked to model specific program enhancements that would make travelers happier and be valuable to them, for example, moving flights from economy to premium economy on heavily-travelled routes, the cost of a minimum standard of nightly hotel rates and improvements to car rental programs.

FCM found that, in some instances, changing an element of the policy to give travelers greater allowances resulted in higher traveler satisfaction and created great value for business travelers, while cost increases to the program were minimal.

FCM’s solution makes policy simulation easy, allowing clients to see what cost impact and traveler enhancement in a hypothetical scenario would entail. If these changes to the program would be positive, it can then be implemented.

Around-the-clock support is another factor that ranges high on the list of traveler values.  A study conducted by the Association of Southern African Travel Agents (ASATA) found that business travel is often perceived to be lonely and impersonal, inconvenient and stressful. Other factors such as the business traveler’s personal circumstances, their level of travel experience, familiarity with the destination, the complexity of their travel itinerary or nature of the business trip may intensify the results. The study concluded that the business traveler’s priority when travelling is to know that someone is available 24/7 to make it as painless, hassle-free and stress-free as possible.

Flight Centre Travel Group’s 2019 Business Traveler survey also shows us how critical human assistance is in travel programs, with 91% of business travelers surveyed saying they appreciate the personalization and efficiency that human assistance provides in an emergency or unplanned situation. In fact, more than 64% of respondents said they seek human support in the event of a flight cancellation, and more than 56% of travelers said that they call upon a travel manager to assist them with changes in their travel arrangements.

Although the assistance of a human travel expert remains a non-negotiable, new user-friendly technology such as chatbots can help ease traveler friction further by giving business travelers real-time advice and in-trip suggestions around the clock. Whether it’s trying to find the best flight, the most convenient hotel or just knowing where to have dinner in a new city, a chatbot can go a long way in providing business travelers with the frictionless experience they crave.

Knowing what travelling employees value should be a company’s top priority, whether considering travel policy or another aspect of the business. Cost-cutting may save a company in the short term, but short-term thinking can result in long-term friction.

Ready to get back to business?  Get in touch.

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Corporate Travel Management, Business Travel Services & Solutions

Modern corporate travel management for the fast-changing travel landscape

Manage risk. Support traveler wellbeing. Plan for the future. How can Egencia™ help you modernize your corporate travel program?

The only proven global B2B travel tech platform

Egencia is always working to deliver travelers, travel managers, and travel arrangers unrivaled choice, value, and experience, with the powerful backing of Amex GBT.

We’re in a league of our own

Our platform can be optimized for all types of users, in companies big or small.

Tech is in our DNA   We originated in the labs of global tech giants and now we are a part of the most valuable B2B travel solution in the world.

AI-driven insights   Our AI delivers custom user experiences that add value to your company’s travel program.

Suite of APIs   Amex GBT Egencia’s open API platform gives you the ability to build robust integrations that help you automate, connect and simplify your travel and expense management.

Unbeatable travel content We lead the industry with over 290 global airlines and 650,000 lodging partners.

Industry-first NDC capabilities Amex GBT Egencia is the first to offer new distribution capabilities to our clients. 

Amex GBT Egencia Preferred Rates  We offer the best value for business travel with access to special discounted air fares.

The unique content from Amex GBT Egencia provides unrivaled choice and value for air, hotel, car and rail.

Our technology-driven customer service and commitment to excellence puts Amex GBT Egencia on another level.

Industry leader in service Our platform and services are consistently rated above 95% satisfaction by customers.

Best-in-class traveler support We provide services to over 2 million travelers in over 60 countries.

Globally proven Amex GBT Egencia proudly supports over 9,000 companies of all sizes around the world.

Constant innovation We consistently deliver enhancements and innovation across our online and offline services.

Smartest shopping experience Our technology provides the smartest, quickest shopping experience to give the best routes and rates based on user preferences.

Proven optimization Our AI and machine learning delivers the best experience and enhancements for savings, traveler wellbeing and sustainability.

We lead the industry in innovation, with data insights from 100s of millions of transactions every year.

The world's business travel platform

• Companies of all sizes in more than 60 countries trust Amex GBT Egencia to modernize their corporate travel programs
• We deliver simple, consumer-like business travel that users love and fast, knowledgeable support for unexpected moments
• With a globally consistent platform and skilled travel program management, rest assured your travel program is optimized to manage risk while maximizing ROI

Ready to update your travel program?

If now is the time to redesign your corporate travel program to manage risk, support traveler wellbeing and monitor your travel spend, this toolkit can help.

Amex GBT Egencia helps you stay connected

14 million business trips were made with Amex GBT Egencia last year. As your travel management company, we’ll be with you every step of the way.

Managing travel risk

Travel risk management has never been more important. Find out how you can manage risk, deliver duty of care and make your business travelers feel secure.

• A comprehensive and quickly adaptable business travel policy is crucial. Use this free guide to help you create a travel policy that adapts to your needs.
• Make traveler wellbeing a priority. Inform, alert and assist them in real-time via the mobile app and online booking tool
• Reduce risk by improving travel policy compliance

Putting traveler wellbeing first

You want employees to feel fully supported from the time they book until they return home. Amex GBT Egencia travel experts are ready to assist.

• Learn how you can enhance your duty of care policies for travelers
• Travel booking is only one part of the equation. Traveler safety is the other. Use this pre-travel safety checklist as a guide
• Learn how Amex GBT Egencia simplifies hotel bookings for travelers .
• Put your travelers in the driver’s seat and take advantage of our fleet of 5 million car rental options worldwide

Savings and ROI

Even as the travel industry changes, businesses still need to make strategic decisions based on cost and ROI. Amex GBT Egencia can help you boost your bottom line.

• Gain insights, identify savings and optimize travel spend in real-time with Amex GBT Egencia Analytics Studio
• Find out how Umpqua Bank maximized their business travel ROI with Amex GBT Egencia
• Amex GBT Egencia travel services can help simplify expense management . Easily track travel expenses that reflect spending with personal or corporate credit cards
• 19 ways our travel management solutions can help you save time and money

Amex GBT Egencia empowers over 2 million business travelers to get the most out of their business travel. Shouldn’t you be one of them?

Amex GBT Egencia’s G2 Winter 2024 Awards

Are you considering a return to business travel.

Amex GBT Egencia partners with Festive Road to offer a permissible travel framework to evaluate an organization’s overall readiness to travel based on corporate, individual and government regulations.

Are you an Amex GBT Egencia travel customer?

I'm a business traveler, i manage travel, recommended for you.

Request a demo to see what Amex GBT Egencia travel management solutions can do for you.

Already a customer? Contact Amex GBT Egencia customer service .

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Local solutions, delivered globally

CTM provides local service solutions to customers around the world. Please select your local region, and start experiencing the CTM difference!

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Connecting Business Through Travel

Connecting Ideas Through Travel

Connecting People Through Travel

Welcome to ctm. we do business travel, differently., corporate travel management (ctm) is a leader in business travel management services in north america and beyond. we drive savings, efficiency, safety, and sustainability to businesses and corporate travelers, wherever your business takes you..

When you partner with CTM you’ll enjoy the experience of business travel done differently – a uniquely designed travel program, built for your business’s specific travel needs and objectives, and expertly delivered in every region you operate in. We design travel programs that drive strategic results for every part of your business and every member of your team.

So if you’re looking for a tailored travel management solution, delivering customer service excellence, innovative technology and a demonstrable return on investment, you’re in the right place.

Experience the CTM difference

Elevate Your Travel Program With Corporate Travel Management

Is your travel program delivering savings, efficiency, and safety to your business and traveling workforce? Are you leveraging your travel data to negotiate better travel deals and positively influence booking behaviors? Do you have access to the tools you need to control your budget, reduce risk, improve sustainability and maximize employee well-being?

If not, it’s time to elevate your travel program with CTM.

We don’t believe in a one-size fits all approach to travel management. We work in partnership with your team to design a tailored travel program, utilizing proven strategies and leveraging big data, to deliver strategic outcomes which align with your business’s unique objectives and priorities. Find out how CTM’s solutions can transform your business travel program and budget today.

Get More From Your Business Travel Program

Bigger Savings

For every dollar spent on our travel management services, we’ll return more to you in savings.

Greater Efficiency

Our expertise, 24/7 support and intuitive technology significantly improves your team's efficiency.

Award-Winning Service

Access award-winning service and solutions designed for your needs, via your prefered channel.

Heightened Safety

Drive safety and well-being to your traveling workforce to reduce risk and increase productivity.

Improved Sustainability

Travel doesn't have to cost the earth. Our tools and solutions support more sustainable travel.

Better Insights

Unleash the power of reliable, actionable data to drive program performance and accountability.

Take your travel program from average to exceptional

Take Your Travel Budget Further

For every dollar spent on our travel management services, we’ll return more to you in savings. That’s the CTM difference.

How we do it

• You’ll benefit from CTM’s extensive global buying power and supplier negotiations to experience exceptional deals on flights, accommodation and car rental
• Your CTM travel platform provides one-stop-shop access to the best corporate negotiated deals, last-minute inventory and dynamic supplier content (NDC-ready), all comparable side-by-side for maximum speed, choice and value
• CTM’s forecasting technology visualizes the cheapest time to travel in a single search, ensuring you travel at the most affordable time
• Your strategic Account Manager will design a bespoke travel policy based on your unique travel behaviors and business objectives, and conducts regular travel program analysis and benchmarking to identify ongoing savings opportunities
• Consolidate your corporate travel, meetings and events spend with CTM for stronger supplier negotiation power and access to great corporate and event travel deals.

Increase Efficiency

Get where you’re going fast.

Leverage CTM’s travel expertise, 24/7 support and intuitive technology to significantly improve your employees’ productivity.

• We put intuitive  travel technology at your fingertips 24/7, making travel research, booking, and trip management simple, efficient and reliable
• Choose your preferred self-service online booking tool and a mobile app to book all your flights, hotels and car rental in a single transaction
• Enjoy round-the-clock travel service from CTM’s travel advisors , via a channel of your choice, for friendly, knowledgeable, and relevant travel support wherever and whenever you need it
• Enjoy access to live consolidated travel reporting across every aspect of your travel program, driving increased visibility, control, and efficiency.

Maximize Safety

Boost Travel Confidence & Productivity

Enhance your employee’s safety while traveling for business with our suite of intuitive and integrated risk management tools.

• Traveler tracking technology enables you to track and communicate with travelers in the event of an emergency, including one-click ‘proof of life’
• Pre-trip approval workflows enable risk identification and management prior to booking
• CTM risk alerts send email and SMS notifications to affected travelers based on itinerary location and risk levels
• CTM Mobile travel app enables travelers to book and manage their travel needs on-the-go for greater independence.

Get Connected.

Contact our team today to discuss your travel program needs., transformative business travel technology.

Global Scale, Local Expertise, Agile Tech

The scale to achieve maximum savings, the spread to provide consistent local market expertise, and the agility to solve tomorrow’s travel challenges today.

Built For Simplicity, Consistency, Flexibility

We take a highly consultative, curated approach to designing unique, simple and effective global travel solutions which deliver strategic results today and into the future.

Your Feedback Drives Our Roadmap

We put you front and center of our product and service roadmap, ensuring you benefit first from the fastest, most relevant and impactful solutions.

Take a tour of our tech stack

Testimonial

The service experience provided and standards we expect from CTM have always been critical to our business success... We now have no ‘downtime’ when a consultant is out of the office, as the entire team knows our policy and our travelers’ needs. This always gives us excellent service continuity, which makes my role just that little bit easier.

- Engineering client -

CTM held our hand through the [implementation] process – training on the booking tool was clear and concise, and the entire exercise could not have run more smoothly.

- Food manufacturing client -

Challenger continues to seek the best return on its investments in technology. Partnering with CTM to implement Fare Forecaster was a commonsense decision that met our needs in achieving this goal.

- Challenger -

Corporate Meetings & Events

Take your corporate meetings and events to a new level of performance with CTM’s specialist event management team, ETM . Our expert event organizers ensure strategically designed meetings and events which deliver exceptional attendee experiences, more strategic outcomes for your business, and a better return on your travel budget.

Benefit from our extensive supplier relationships to leverage corporate deals on accommodation, travel and entertainment, saving you time and money. Moreover, consolidate your corporate and event travel spend through CTM for stronger supplier negotiations, maximizing your overall budget’s potential. Whether it’s corporate events, strategic meetings, conferences, group travel, team-building activities, or sales incentives, we tailor your event management solution to exceed expectations and drive business success.

Partner with us for a connected event experience that drives results for your business, people, and budget.

You might be interested in...

Solutions for Every Business Size

Whether you’re a global enterprise, national corporate, or fast-growing start-up, we design travel management solutions that deliver on your goals.

Integrated Technology Ecosystem

Our technology is built to be as flexible as your needs are diverse, putting transformative tools at your fingertips 24/7 for maximum productivity and peace of mind.

Our Customer Success Stories

Don't just take our word for it. Explore our customer case studies and success stories to see how CTM has delivered resuls for businesses like yours.

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CTM provides local service solutions to customers around the world. Please select your local region, and start experiencing the CTM difference!

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Our commitment to customers, employees, partners and shareholders

Ctm is committed to delivering on the company’s vision and customer value proposition. our board, leadership team and employees are all invested in creating and sustaining a workplace culture that supports equality of opportunity, empowerment, collaboration and recognition..

As a result, we continue to develop a highly engaged workforce and strategic thinking across every member of our team for the long-term benefit of our customers, partners and investors.

To be recognised as the global leader in travel management solutions – an entrepreneurial, innovative and inspiring company of choice for employees, customers, partners and shareholders.

We take time to listen, understand and utilise what makes us different and how we set ourselves apart.

• We go above and beyond in delivering benefit to all our stakeholders
• We live by our corporate values – both internally and externally
• We are developing a highly motivated and empowered workforce
• We are developing ground breaking technologies which will define the future of travel

Our Mission

To be travel management leaders in all regions in which we operate, using innovative technology to improve the customer experience and bring positive change to the market..

At all times, we will demonstrate a return on investment to our customers and suppliers. We will empower our teams to make the best decisions for our customers. Our  shareholders will be at the forefront of our business growth strategy.

Our Customer Value Proposition

Our commitment to our customers is:.

• To deliver personalised and flexible service solutions
• To develop industry leading technologies which enhance the customer experience
• To demonstrate a return on investment measured through achieved savings

Our Company Values

• Exceed to Service: Excellence is a habit not an act.
• Trust to Succeed: Belief is what makes a person, team, company and community stronger.
• Innovate to Generate: Innovation in thinking and doing what nobody else does.
• Collaborate to Perform: Through teamwork wonderful things will be achieved.
• Play to Win: People are successful when they have fun in what they do.
• Empowered to Achieve: The power to make the right decision to achieve great results.
• Recognise to Reward: Celebrate and acknowledge when we have accomplished something special.

How to Maximize the Value of Your Travel Management Partnership

5 Ways to Maximize the Value of Your Travel Management Partnership

The demand for today’s corporate travel management partnerships is unique–not only do they manage traditional booking transactions, but they’re also expected to provide value while offering strategic travel services. These services go beyond the basics, often including supplier negotiations, traveler safety and well-being, data security, sustainability, and booking optimization.

Many companies often wonder how to maximize their travel management partnership to get the most bang for their buck. In this blog post, we’ll discuss several ways in which you can increase the potential of your partnership.

• Establish Clear Goals and Direction Every company has different expectations, and the best way to get your travel management program to help you is to discuss your specific goals. One of the most common goals of a travel program is to reduce the cost of corporate travel while providing excellent customer service. When you have a discussion with your travel management partner, ensure that you include all travel management objectives to help you reach your specific goals. ‍
• Keep on Learning Take the opportunity to learn as much as possible from your travel management company–after all, they’re the experts! Utilize all the education and materials they can offer, especially those that suit your needs and channels. Many travel management companies provide product training videos, online content, in-person training, and webinars to ensure their clients learn as much as possible.
• Coordinate with the Company’s Culture Perhaps one of the most underrated ways to utilize your travel management partnership is to find a travel program that aligns with your company’s values and culture. Not only will a shared culture improve communication, but it will also establish trust and lead to better service.
• Utilize Automation and Technology Tools Many travel management companies offer high-tech automation and travel management tools, such as travel management software, that make your travel plans a breeze. To make the most of their services, learn as much as possible about their technology and services. You’ll want to utilize their technology to elevate the autonomy, efficiency, and accessibility of your team. Your travel management company most likely has online booking tools that streamline your company’s booking process, which helps you save time and money. Business travel management apps allow easy support for travelers and itinerary management while on business trips.
• Track and Study Data As a business, you’re already familiar with tracking data. So why not analyze your travel data? Monitoring and studying your travel data will improve the value of your travel program. It can also help your company to make better travel decisions. Your travel management company can provide easy-to-read graphs and charts, which gives you the option of making tracking easier than ever.

Why Use a Travel Management Company like Christopherson Business Travel?

As a leading travel management company, Christopherson Business Travel offers many different management solutions for your company’s unique needs. We’ll be your travel partner, helping your company reach its goals while giving your employees a smoother, more efficient travel experience. Partnering with Christopherson Business Travel saves you money and improves your corporate travel experience while improving autonomy. Contact us today to request a demo or to see how we can help you achieve your corporate travel goals.

Connect with our team of experienced travel experts to learn how Christopherson can help your business travel with ease.

There's more to learn.

We’ve curated some articles to keep you updated on all things Christopherson Business Travel.

Small Business Trends

10 best business travel management companies.

A good travel management company can provide you with a travel program that is tailored to your needs, as well as travel arrangers to help you with all of your travel arrangements. They can also provide you with helpful tips and advice for business travelers. If you’re looking for the best travel management services for your business, then look no further than the following 10 companies.

What are Business Travel Management Companies and What do They Offer Business Travelers?

BTMCs, provide services to their corporate clients to help manage their business travel. This can include providing software that tracks the expenses and itineraries of traveling employees, booking flights and hotels, arranging car rentals and other transportation, and providing customer service support during the travelers’ trip.

This can be invaluable for companies that have many employees traveling for work regularly, as it helps keep track of all the costs and logistics associated with business travel. Additionally, BTMCs can often negotiate lower rates for their clients on various travel services.

• READ MORE: Travel Risk Management Tips

Benefits of Using a Corporate Travel Management Company

There are many benefits to using a corporate management company for travel, including these four:

• Expense management. BTMCs can help businesses keep track of their spending on business travel and provide software to help manage and automate the expense reporting process.
• Business traveler support. Corporate travel management companies can provide customer support to travelers 24 hours a day, 7 days a week. This can be helpful in the event of an emergency or last-minute changes to travel plans.
• Travel management solution. BTMCs can provide businesses with a complete travel management solution that includes booking flights and hotels, arranging transportation, and providing customer support.
• Lower travel costs. BTMCs often have access to discounts on flights, hotels, and other travel services that they can pass on to their clients.

How to Grow Your Corporate Travel Program

A company can grow its business travel program in a few ways, including using a business management company for travel. Business travel arrangers can help to make travel easier and more efficient for employees, which can save the company time and money.

You can also educate employees on the benefits of using a travel management company in the travel program. And you can encourage employees to book their travel early.

General Criteria for Choosing the Best Business Travel Management Company- Our Methodology

Selecting the right business travel management company is crucial for streamlining your corporate travel needs. To assist you in this important decision, here are some general criteria to consider, along with a scale indicating their relative importance:

1. Expertise and Industry Experience (9/10):

• Extensive experience in corporate travel management.
• In-depth knowledge of the travel industry and its trends.
• Proven track record of successfully handling business travel for clients.

2. Cost Efficiency (9/10):

• Competitive pricing and cost-effective solutions.
• Ability to negotiate discounts with airlines, hotels, and other service providers.
• Transparent pricing structures with no hidden fees.

3. Traveler Support and Assistance (9/10):

• 24/7 availability for traveler support.
• Access to a dedicated travel advisor or consultant.
• Quick response time to resolve travel-related issues.

4. Technology and Booking Tools (7/10):

• User-friendly online booking platforms.
• Integration with expense management systems.
• Mobile apps for easy on-the-go bookings and itinerary access.

5. Customization and Flexibility (7/10):

• Tailored travel solutions to meet your specific business needs.
• Ability to accommodate last-minute changes or adjustments.
• Flexible policies that align with your company’s travel policy.

6. Traveler Well-being and Safety (9/10):

• Implementation of traveler safety measures and risk management.
• Access to real-time updates and alerts during travel.
• Compliance with health and safety regulations, especially during emergencies.

7. Reporting and Analytics (7/10):

• Access to detailed reporting on travel expenses and patterns.
• Analytics tools to help identify cost-saving opportunities.
• Insights into traveler behavior and preferences for future improvements.

8. Global Reach and Network (7/10):

• A wide network of partners and suppliers worldwide.
• Capabilities to manage international travel seamlessly.
• Knowledge of regional travel nuances and requirements.

9. Client References and Testimonials (7/10): 

• Positive feedback and references from current clients.
• Case studies showcasing successful travel management experiences.
• Reputation and credibility within the industry.

10. Sustainability and Environmental Responsibility (5/10):

• Commitment to sustainable and eco-friendly travel practices.
• Options for carbon offset programs or eco-conscious travel choices.
• Alignment with your company’s sustainability goals.

The 10 Best Travel Management Companies for Business Travel

As businesses increasingly shift to a global marketplace, the need for efficient and cost-effective travel management has become more important than ever.

In this new era of globalization, organizations are looking for travel managers who can help them navigate the higher prices and complex logistics of doing business internationally. Here are ten of the best travel management companies for businesses of all sizes:

1. TravelBank

TravelBank offers a comprehensive corporate travel management solution with extensive industry experience that includes expense reports, money management, and booking. With TravelBank, businesses can save time and money while ensuring that their employees have a safe and seamless travel experience.

2. AMEX GBT

If you’re looking for an efficient and reliable way to handle your business travel, AMEX GBT is a great option with a fantastic reputation. Their risk alerts and direct communication during disruptions make them a dependable choice, while their pre-negotiated rates can save you money.

Plus, their customer care operates at a rapid 15-second response time, so you can always get help when you need it. And if you need to cancel your trip last minute, FlexiPerk can get you up to 80% of your money back.

3. SAP Concur

SAP Concur is a comprehensive solution for businesses looking to manage their travel spending. It offers a wide range of features, including booking tools, expense reporting, and invoicing. This makes it an ideal solution for companies that want to streamline their travel process and reduce their expenses.

• READ MORE: David Alexander of SAP Concur: Automating Expense and Travel Management Sheds Light on Company Spending Issues

CWT is a 150-year-old company that has a global presence in 150 countries. So it has a fantastic reputation and a wealth of industry experience. It offers a business-to-business-for-employees platform that’s reliable and easy to use. Their myCWT app is accessible on PC and mobile devices, and it allows travelers to book flights and make reservations at 800,000+ properties at special rates.

Egencia is a travel management software that can help businesses keep track of their travelers and their travel data. This can help ensure traveler safety and a smooth travel program. Egencia also offers reports and analytics so that businesses can see how their travelers are performing and where they can make improvements.

6. BCD Travel

BCD Travel offers comprehensive travel management solutions for businesses of all sizes. With offices in 109 countries, BCD Travel is well-positioned to help businesses manage their travel needs worldwide.

Their software suite includes three separate platforms that can be customized to meet the unique needs of your business. Additionally, BCD Travel offers access to APIs to integrate with their platforms, making it easy to get the exact solution you need.

If you’re looking for a comprehensive travel solution for your business, look no further than CTM. They provide online booking tools for corporate travel, making it easy to find a hotel and car rental. With CTM, you can get your business trip organized quickly and easily.

8. TravelPerk

With the world’s largest inventory of travel options and partners with the biggest names in the business, TravelPerk can cater to your every need. Forget about hours wasted researching flights, hotels, and car rentals – let TravelPerk do all the hard work for you.

9. FCM Travel Solution

If you’re looking for great deals on business travel, FCM Travel Solution is the perfect option. With over 650,000 hotel properties and major airline partnerships, FCM can offer you specially negotiated airfares and hotel rates.

Plus, their FCM Connect suite of tools includes a powerful online booking tool and an expense management platform, making trip planning and tracking expenses a breeze.

10. TripActions

TripActions has trusted partner connections and an easy booking process that’ll have you on your way quickly and easily. Plus, if you need any help along the way, TripActions’ customer support is always happy to help.

• READ MORE: business travel tips

Factors to consider when choosing a corporate travel management company

When choosing the best corporate travel management solutions for a small business, there are a few key factors to consider.

One of the most important considerations is the travel managers themselves – what experience do they have and what is their knowledge of the travel industry advancements that can save money for your company?

Additionally, it’s important to look at the company’s commitment to traveler wellbeing. Are they offering features like loyalty rewards programs and 24/7 support? Finally, it’s also important to check out the company’s ability to save you money.

Can they offer discounts on airfare, hotels, and car rentals? By considering all of these factors, you can be sure that you’re choosing the best travel management solutions for your business.

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Yahoo Finance

A look at the fair value of corporate travel management limited (asx:ctd), key insights.

Corporate Travel Management's estimated fair value is AU$16.01 based on 2 Stage Free Cash Flow to Equity

With AU$17.10 share price, Corporate Travel Management appears to be trading close to its estimated fair value

The AU$20.65 analyst price target for CTD is 29% more than our estimate of fair value

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Corporate Travel Management Limited ( ASX:CTD ) as an investment opportunity by taking the forecast future cash flows of the company and discounting them back to today's value. We will use the Discounted Cash Flow (DCF) model on this occasion. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.

We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you.

View our latest analysis for Corporate Travel Management

The Calculation

We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value:

10-year free cash flow (FCF) estimate

("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF) = AU$1.0b

After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 1.9%. We discount the terminal cash flows to today's value at a cost of equity of 7.9%.

Terminal Value (TV) = FCF 2032 × (1 + g) ÷ (r – g) = AU$170m× (1 + 1.9%) ÷ (7.9%– 1.9%) = AU$2.9b

Present Value of Terminal Value (PVTV) = TV / (1 + r) 10 = AU$2.9b÷ ( 1 + 7.9%) 10 = AU$1.3b

The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is AU$2.4b. The last step is to then divide the equity value by the number of shares outstanding. Compared to the current share price of AU$17.1, the company appears around fair value at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.

Important Assumptions

Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Corporate Travel Management as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.9%, which is based on a levered beta of 1.008. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

SWOT Analysis for Corporate Travel Management

Currently debt free.

Dividend is low compared to the top 25% of dividend payers in the Hospitality market.

Expensive based on P/E ratio and estimated fair value.

Shareholders have been diluted in the past year.

Opportunity

Annual earnings are forecast to grow faster than the Australian market.

Revenue is forecast to grow slower than 20% per year.

Looking Ahead:

Valuation is only one side of the coin in terms of building your investment thesis, and it is only one of many factors that you need to assess for a company. The DCF model is not a perfect stock valuation tool. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. For Corporate Travel Management, there are three relevant elements you should look at:

Risks : To that end, you should be aware of the 1 warning sign we've spotted with Corporate Travel Management .

Future Earnings : How does CTD's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart .

Other High Quality Alternatives : Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!

PS. Simply Wall St updates its DCF calculation for every Australian stock every day, so if you want to find the intrinsic value of any other stock just search here .

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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