Travel management agencies have a wide range of services that can help companies save money on business travel. They have access to exclusive discounts and negotiate favourable hotel rates, car rentals and airfares on behalf of their clients.

These companies provide travel technology so that employees can track their trip and expense information, and accounting can keep up with changes in real-time while on the move. Choosing a TMC can be difficult, however, as they may offer many different policies and benefits, so it’s important to find one that is a good fit for your company culture.

TMCs must have an online travel planning portal that allows travelers the freedom to plan their own trips. This allows them to check the availability of flights and hotel rooms, book them in a convenient way and avoid missed deadlines and extra charges.

TMCs are also required to have a complete database of travellers’ spending habits, allowing them to easily identify trends, and deal with any issues that may arise before they impact on your company’s travel expenses. This can be helpful for companies which need to track travel costs.

In order to control costs, many businesses rely on travel companies. They can negotiate lower airfares and hotel rates for their clients, as well as providing software to manage and automate the expense reporting process.