Image Source: MTEI UK

Corporate customers are driving transformational changes to the ways in which business travel and meetings products are purchased and consumed.

New managed-travel models, supporting value-adding technologies such as fee-based agency pricing, online booking tools and electronic ticketing are being adapted by travel management companies (TMC’s), according to research and analysis conducted by The Travel Team.

An evolution, boosted by the power of social media and burgeoning technological advances is changing the landscape of ageing managed-travel practices.

The Travel Team’s Jean Covelli said that radical changes to established corporate procurement channels has led the service provider to make some major business-minded changes.

“To be clear, open booking technology alone is not enough. That would only increase fragmentation without a way to consolidate data and manage an effective corporate travel program. TMC’s need tools to manage and not just facilitate ‘rogue’ travel,” Ms Covelli said.

“Along with a handful of other progressive industry participants, The Travel Team has partnered with travel technology provider GDSX to analyse existing open booking pain points from traveller, corporate and TMC perspectives.”

Centralized Trip Repository (CTR) was a solution identified by GDSX that would not only store trip data, but allow The Travel Team to leverage investments in order to deliver unique, policy and data requirements to clients.

“We have some really smart technology providers in our industry that are reading the writing on the wall and providing us exactly what we need to evolve, meet changing customer needs and continue to be profitable. As TMCs we need to push our airline, GDS and other partners to move forward with thoughtful change, and always with the customer at the centre of our strategies.”

Ms Covelli said The Travel Team has always encouraged visionary change and believes travel management companies need to be aware of their ever-changing environment.