Not that long ago, business travel was managed by traditional travel agencies with a phone call and paper tickets.
Today, it's a whole new world. Leading Travel Management Companies (TMCs) are advanced, tech-driven platforms that provide seamless service to business travelers around the globe. These TMCs harness cutting-edge technologies to streamline bookings, offer the best fares and rates, and deliver exceptional customer service. Here's how they are doing it:
At the core of modern TMCs is booking tool software (the online booking tool or OBT), a pivotal element in managing business travel. Unlike traditional agencies three decades ago, where booking involved a series of phone calls and largely manual entries, today's leading TMCs offer intuitive, user-friendly online platforms. These booking tools allow travelers and bookers to manage almost all aspects of their trips online, from initial booking to trip modifications and cancellations.
A robust booking tool is not just about convenience; it’s essential for integrating other advanced features. For instance, by building and maintaining booking tools, TMCs can incorporate New Distribution Capability (NDC) offers with the lowest airfares, artificial intelligence (AI) capabilities, and a variety of contact channels like agent chat. The most forward-thinking TMCs use these booking tools to achieve a high rate of online adoption, often exceeding 97%. This is a testament to their effectiveness in meeting traveler/user needs.
These platforms often feature real-time inventory updates, dynamic pricing, and personalized recommendations based on travel history and preferences. These platforms clearly display travel policy rules and mark out-of-policy options, allowing bookers to confidently book options that work for the traveler and the company. They make booking faster by storing travelers’ loyalty and secure traveler information to automatically add to every booking. Moreover, they provide seamless access to airline, hotel, and car rental bookings, ensuring travelers have everything they need at their fingertips.
New Distribution Capability (NDC) is revolutionizing how flights and fares and flight extras are distributed and purchased. This technology, an upgrade from an ancient, pre-internet 50 year old technology, enables airlines to offer the same rich content and ancillary services like seats and bags through TMCs to travelers, just like they do on their own websites and apps.
Three out of the four largest airlines in the U.S., along with many leading global carriers provide the lower fares and better seats and extras that travelers expect through NDC channels and their direct websites. Upgrading to support NDC allows TMCs to present a broader array of options which were not possible with older systems, and that TMCs who haven’t upgraded can’t offer.
NDC empowers TMCs to deliver detailed fare information, including add-ons like extra legroom, priority boarding, and lounge access. This comprehensive visibility into airline offerings ensures that travelers can make informed decisions and find the best value for their trips.
AI is everywhere and already transforming aspects of the travel industry. TMCs are no exception. While fully autonomous AI-driven booking systems may still be a bit in the future, AI is already making a significant impact in customer service and operational efficiency.
AI-powered chatbots and virtual assistants are becoming standard in handling routine queries and service requests, freeing up human agents to focus on more complex issues. These systems can quickly respond to traveler inquiries and offer support across multiple communication channels.
Moreover, AI is instrumental in analyzing vast amounts of travel data to predict trends, increase savings, and enhance personalization. By leveraging AI, TMCs can offer tailored travel recommendations, deliver savings to customers and ensure a more efficient travel experience.
These days, travelers expect flexibility in how they communicate with their TMC. The best TMCs provide a range of contact channels to cater to different preferences, ensuring help is available 24/7, wherever business travelers need it.
Whether a traveler prefers booking and managing trips online, via a mobile app, or through direct communication with travel advisors, TMCs offer multiple touchpoints. In addition to traditional phone and email support, TMCs now include chat options to reach live agents across various platforms like websites, apps, and can even via collaboration tools such as Slack and Microsoft Teams.
This multi-channel approach ensures that travelers can get assistance in the manner that suits them best, enhancing their overall satisfaction and experience.
While travelers may not directly interact with these systems (this backend stuff isn’t really your problem), the tools used by travel agents play a critical role in delivering efficient and personalized service. Leading TMCs invest in developing proprietary agent tools, booking databases, and mid-office systems that handle processes such as accounting, data reporting, traveler profiles, and policy compliance.
By owning and refining these tools, TMCs ensure agents have access to the latest technology and information, enabling them to provide quick and accurate responses to traveler needs. This infrastructure supports excellent service quality, making every trip as smooth and hassle-free as possible.
The landscape of business travel is rapidly evolving, with technology driving this transformation into the future. Leading TMCs are no longer the manual, phone-reliant behemoths of the past with rows of cubicle-bound travel agents; they are now slick, sophisticated platforms integrating advanced booking tools, NDC capabilities, AI, and multi-channel communication strategies. By investing in these technologies, TMCs enhance their service offerings, deliver better value, and meet the demanding expectations of today's business travelers.
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