What TMCs should look for in a Corporate Booking Tool
2 minute read
Looking at the growing expectations of corporate travelers, it has become crucial for Travel Management Companies to invest in a robust corporate booking solution. A corporate self booking booking tool helps travel management companies to provide their customers with an online solution for their travel needs. It brings in efficiency and helps both the agency and the corporate working with the agency to reduce costs in terms of time and money.
A good corporate booking tool handles the entire booking process for a TMC, right from the time an employee makes a request for travel to getting it authorized to actually booking and managing itineraries. Here are some of the key following features and benefits of a modern corporate booking solution :
1) Policy-driven Booking Management
-
- It helps setup travel policies and their application to employee grades and individual employees.
-
- A booking management system handles the entire booking process right from the travel authorization to budget approvals to Invoicing and management of itineraries on behalf of the employee.
-
- It has a Self-booking tool for employees allowing them to manage their own travel booking in accordance with the applicable policies.
- It allows the TMCs to set up their pricing and markups for the corporates based on their spend, loyalty and volumes amongst other parameters.
2) Revenue management
- It allows for complex setup of markups and commissions and allows for various exceptions including location, airline, hotel chain, nationality etc. It allows for calculation and optimization of revenues.
3) Inventory Management
- This helps TMCs manage their direct contracts and negotiated rates with hotels and ground transportation suppliers. It includes rate management, allocations, policy management, schedules, etc.
4) B2B/Agency Management
- It helps in Managing agents, providing them with white label booking solutions.
- Pricing and commissions management
- Revenue management
5) Co-branded portal management
- It provides agents with their own portals including website and CMS.
6) Back-office Management
- Back office for Managing Corporate and their Employees and the agencies
- Accounting module for account receivable and payables
- Reporting and Business Intelligence Module for analyzing sales and profitability.
7) XML API Integration
-
- XML Integration with Flight and Hotel Suppliers including Amadeus, Sabre, Hotelbeds, GTA etc with the ability for TMCs and corporates to use their own PCC codes.
- Payment Gateway Support for processing online payments.
Looking for an end-to-end corporate booking solution for your Travel Management Company and your corporate clients? Check out TravelCarma Cobalt! Click on the link below for details:
