Corporate Travel Management (CTM) is a service that manages a company’s approach to travel, makes negotiations with vendors, and oversees the daily operations of the corporate travel program -- including traveler safety and security, credit card management, and travel and expenses data management.
Corporate travel management shouldn’t be confused with a traditional travel agency. Travel agencies make reservations and provide other travel services to their corporate clients, but they make those decisions within the parameters that the CTM team has set. These parameters include deciding which class of service employees are allowed to use, what rate airlines and hotels will charge, and usage restrictions on corporate credit cards.
Many corporations have an in-house corporate travel manager who delegates the management of travel and expense costs: air and rail travel, car rental, hotel costs, gratuities, and client gifts. Some of the most popular travel management companies are Teplis Travel and CITS American Express Business Travel.
Corporations can also choose to purchase CTM software in lieu of hiring a management company. Corporate travel management software can efficiently complete nearly all of the tasks that are typically done by a human corporate travel manager, with the added bonus of costing less money. Popular CTM software includes Concur Travel, Certify Travel, and Skyjunxion.
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