Deciding whether or not to outsource corporate travel management is an important decision to make. For some small companies that are just starting out it may be best to keep travel management in-house, but for many others, you could end up saving time and money by hiring a travel management company.
Pros of Corporate Travel Management
- It’s Easy: If you decide to hire a corporate travel management (CTM) company, you’re effectively lifting that weight from your financial manager, who may or may not be equipped to deal with travel & expenses, plus the business’s regular needs. Outsourcing corporate travel management will allow you to focus on the bigger picture instead of the minutia.
- It Costs the Same: Some companies don’t hire a corporate travel management company because they think they’ll save money by handling travel management themselves, but that is actually incorrect. Because of a CTM company’s connections with hundreds or thousands of vendors, they can generally negotiate the same or better deals than you could have done on your own. Plus, you won’t ever have to deal with additional costs that come with these negotiations because you have already set a fixed price with the company.
- It’s Less Stress: A corporate travel management company takes care of all the little details so you don’t have to worry about anything slipping through the cracks, and you can rest assured that everything is being handled by a professional. Also, your employees may need a 24/7 consultant in case something goes wrong during a trip. The constant support is well worth it for your employees.
Cons of Corporate Travel Managment
- Less Control: The only potential drawback that comes with hiring a corporate travel management company is that you have a bit less control because some of your operations are now being handled by someone outside of your organization. This means that it can be more difficult to review the quality of a CTM company than it would be to review an employee of your own company. However, most companies strive for high customer satisfaction, so if you ever have a problem, you should be able to reach out to the corporate travel management company and get the issue resolved quickly.
