SMEs Meet TMCs

A growing number of small and medium enterprises are looking for right-sized travel solutions
Fortune 500 companies are obviously big players in corporate travel, but they’re far from the only game in town. Small and medium enterprise travel actually constitutes a huge segment of the market, and many of these SMEs are looking for travel management companies geared toward their size. So just what should these programs expect from a TMC, especially those who are tailoring their offerings to the SME market?

Expectations for any TMC depend on its approach and strategic direction, according to Tim Fleming, president and COO of Travel and Transport. He notes the definition of what constitutes an SME varies within a range of $1-5 million in travel spend, with his firm viewing it as one to two million.

Small and mid-sized companies with leakage in their travel programs will generally benefit from the services of a TMC, Fleming says. These might range from helping pull in rogue spend to dealing with duty of care, all aided by increasingly advanced technology. “It used to be that the corporation controlled everything,” he says. “Now travelers expect the same experience on the corporate side as the consumer.”

Fleming adds that for companies where oversight of travel has historically been in an area such as HR or procurement rather than a separate function, a managed travel program takes the friction out of the travel process. “For example, travelers might get an alert that a major storm is coming with advice to connect with an agent,” he says. “That kind of work is a material change from where we were five years ago.”

Travel Management Companies

Categories: Special ReportTravel Management Companies

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