This is rightly named as the age of traveler-centricity and with the evolution of the new era of personalized travel; it’s resulting in development and research of a plethora of new so-called intelligent services. The command-and-control viewpoints of travel have changed a lot from the past and the focus has changed more on the traveler and the productivity of every trip. It is now essential to keep the travelers have the best return on investment on every trip. New generations of young workers and managers, who’ve been growing up and dwelling in an electronic age, are shifting the ranks as travellers. It has become essential to recognize the need for greater flexibility acknowledging the employees who travel on corporate trips also look at a percentage of their trip to be a leisure socket. With increasing globalization and increase in businesses sending their employees overseas to network and join with their overseas prospects/customers/suppliers, corporate travel is a highly profitable tourism section. Before we discuss how tourism Businesses can better cater to business travelers, so let’s first look at why they would rather use specialized corporate bureaus over conventional brokers
Why do businesses utilize Corporate Travel Agencies?
This may be the most basic question to get a travel service regarding why they will need to use services focusing on corporate travel when there are tons of standard travel agents on the marketplace. Here is the value of corporate travel agencies that have online systems that allow business travelers access to their destination.
The following information is at the fingertips of the CTAs:-
Complete company itinerary particulars
up-to-date monitoring Information of flights (such as delays or rescheduling)
transparent details about extra costs such as luggage fees or Rollover charges
travel alerts, if any, in the destined area
up-to-date and complete Specifics about the visa exemptions and identification Necessary
cash demand and conversion prices
What do corporate customers expect from Corporate Travel Agencies?
The Corporate Agencies tend to have tie-ups with hotels, car rentals, and flights etc. . giving them access to reduced fares that can be used solely by the regular business travelers. Discounted prices aren’t the only benefit however as they also offer flight upgrades, room upgrades, and VIP check-in lines as needed.
In-depth information about the travel sector
Business travel agents have access to many travel tools and most importantly, quickly, than any other leisure travel agent. Further information helps to create the business trips comfortable and convenient.
Changes in Itinerary
Once an airline ticket needs to receive rescheduled or cancelled, odds are the airline or the internet service provider may bill superb fees. When booking using a corporate travel agent, the majority of the times schedule changes can be done at zero or minimal added charges.
Viable emergency contacts
It’s important for the company travelers to get to the correct person at the need of trouble. Corporate travel agents have the experience and professionalism to alleviate pressure for both the traveler and the firm.
What you will need to think about as corporate travel increases?
Business Travel Barometer reported that corporate traveling is witnessing an accelerated expansion. But when poorly handled, it may be no longer an advantage to businesses and may, in fact eventually become a burden. There are a number of aspects that the businesses and CTAs should think about to get the most out of the time traveling.
Adopting a travel policy
The corporate must specify a journey policy which is applicable to respected by travelers at all levels. This policy ought to be employed to establish the criteria that can help track the progress of business travel. It is going to eventually help to lower the expenses of the whole package.
Do not restrict the traveller’s autonomy
The management accounts for budgeting that the journey policy which helps to boost cost management however, it is also essential to give a degree of liberty to the traveller. The policy should be flexible enough to enable the employee to accommodate the trip according to the situation.
Traveler’s security ought to be a major concern
Business travelers have to have security set up. The business should stick to its definition of standards to ensure the worker’s integrity. The CTAs must have reputable partners (travel insurance, airlines, hotel chains etc.).
Mobility and automation
To maximize time and facilitate the procedures, the administration of management platforms ought to have automated procedures. This means that they should embrace mobile solutions where search options, travel alarms, ticket reservations etc. can be accessed immediately, easily and on the move.
Corporate Travel Trends in 2016
Corporate travel trends tend to change frequently. 2016 has not been any distinct along with the travel management companies (TMCs) and company travel agencies (CTAs) are quite focused to present steady if not powerful axis all over. An increasing MICE sector, investments in mobile and large information and improved focus on obligation of care are some of the areas of focus.
The consolidated buzzword among international providers, airfares, hotel rates etc. is the rising prices. It’s at times the transfer of the providers to generate discounts which promote travel if there is a strong decrease in demand. A positive 2016 world economy has been bringing an increase in air fares of a few percentage points, hotels are predicted to see 4%-6% increase in average global rates and the contest will remain average in the automobile rental services.
Duty of maintenance
Risk management is one of the major points of emphasis for businesses. Corporate clients are permitting new coverages and improved technologies to track employees’ location in the event of an emergency, especially when they’re travelling to foreign destinations. For instance, Concur Risk Messaging helps to identify the travellers moving around on the planet and alarms them with alternative travel agreement as and when needed.
Focusing on MICE
Meetings industry is an important growing sector and the corporate journey tendency is growing on it. The company travel agencies should better begin aligning the a variety of assembly procurement methodologies with its transient travel sourcing. Among the ways might be to broaden the wide range of assembly services by integrating incentive trips inside.
Investing in technology
A better focus on increasing significance and becoming more traveler-centric can be accomplished by bringing in mobile friendly technology. Mobile and large data are definitely the two most significant technological investments that any corporate travel service needs to focus to make their system more appealing.
Business travel evaluation following Brexit
Following Brexit, ACTE and CAPA shared their own speculations. According to these, the best short-term results on the travel sector will come in the weakening of the pound against other world currencies. Greeley Koch, executive director for the Association of Corporate Travel Executives said that the business travel sector will fad on currency changes; with some companies using the poorer pound and traveling more, though others might withhold business travel until world markets find their own degree.
Impact of terrorism on corporate travelers
Travel policy makers and administrators have to be directed by increasing terrorism scare. For executives and staff undertaking journey on behalf of companies, both the travel agents and corporate travel agencies (CTAs) must demonstrate the satisfaction for their security throughout the traveling policies. It’s probably that the surveys conducted over corporate travelers reflect the overall issue of the international business travelers concerning the spate of terrorism. However, there is not any denying the fact that terrorist threat is changing the patterns of business travel. The key effects of this would be to remember that the firms providing travel services for business travelers will need to improve their focus on safety and the related risks in delivering the services to corporate customers. As shown by a recent finding, travel managers have higher estimation of the policy’s effectiveness in addressing hazard in comparison with doubtful business travelers.
Even though the corporate travel sector has continued to progress, there are a plethora of challenges faced by the business. A fast changing consumer marketplace, the development of new business models, the impact of engineering, natural and man-made crises are some of the fulcrum factors that have to be considered before planning corporate trips.