in corporate travel technology reflect macro business and technology trends.
Whether it is the need to consolidate global data, travel market size, expand
purchasing control over a wider variety of services or simplify the booking and
expense process, the common theme is greater control and an improved user
consolidation of travel expenses has been a recurrent theme for many years.
are a variety of methods to consolidate travel, including a common payment method
(e.g., charge card), a single global Travel Management Company (TMC) and/or a
preferred global self-booking platform. Each of these approaches has merit, but
the difficulty in successfully implementing these strategies should not be underestimated.
The key drivers for global consolidation are information management and policy
execution. To build a successful global travel market size management program, travel
buyers need to leverage as much volume as possible to achieve corporate
Travel Market Size
fact, implementing programs that overcome supplier hurdles is at the heart of
effective global travel management. This may sound like a simple task, but in
reality, consistently interpreting and executing global contracts continues to
be a challenge for travel buyers. The first step in global consolidation is the
collection of travel management data from all offices. However, volume at some
international locations may be relatively low compared to corporate offices. As
a result, gaining cooperation from the local TMC, or even branch offices of
mega-TMCs or consortiums, can be problematic.
is playing an increasing role in travel management. As a result, many buyers are
expanding the types of services managed under the corporate travel umbrella. To
meet the needs of more potential customers, vendors are including more
travel-related activities, such as meetings management, parking and restaurant
reservations in their applications.
corporate meetings and incentive travel have been managed effectively through
existing technologies, but capturing and controlling small meeting expenses has
been challenging as most meeting planning is done by executive administrators
and internal meeting planners. There is no common tool to manage these processes
internally. The introduction of meetings management modules is alleviating the
problem, making site selection easier, integrating bookings into existing
online travel applications and controlling all travel market size-related expenses
associated with the meeting.