TTM L4

• Travel management


  Helping businesses and organizations augment their travel needs in a productive way. Involves organizing, monitoring travel expenses, and strategizing the thorough handling of travels.
• Business setup/business structure


  The foundation of standard operating. Involves manpower potential and systems to determine task provisions and responsibilities to deliver organizational objectives.
• Organizational variations


  From a basic and standard organizational flow, an organization implements adaptations and alignments as dictated by market requirements. Guarantees functionality and a responsive business model.
• Travel management company


  Sets the parameters for travel
• Travel agency


  Executes the reservations and bookings on the given parameters
• Travel management company deliverables


  • Professional insights & updated advice
  • Travel advisories, warnings or alerts
  • Guide and review of travel policies
  • Collation of reports for data and references
  • Current systems and methodologies
  • Better relationship with suppliers
  • Economical rates for airfares, hotels and transportation
  • Round the clock support system: 24/7 Help Desk: a sense of peace of mind
• Attributes of a good travel management company


  • Reliable - Credibility follows when reliability is evident
  • Competent - Capability of delivering a positive experience.
  • Knowledgeable - Expected a well-informed crew/travel councilor.
  • Resourceful - Credibility follows when reliability is evident
  • Bonafide - Qualified travel management company
• Departmental functions


  • The executive & management - This is comprised of the top officers of the company.
  • The finance & administration - The fiscal management is in charge of operational costs.
  • The sales, marketing & operations - Sales acquisition, maintenance and servicing are the major function of this team.
• Revenue sources


  • Commissions Systems - TMC’s are considered intermediaries. Sometimes they are called middlemen.
  • Mark up mechanics - Additional fee to the net/net rates as a an additional source of revenue (mark-up).
  • Service fee - The amount can be dependent on the degree and nature of the services.
  • Performance bonus - Note that this is not standard; can enter into an agreement if it is beneficial for both parties.
• BUSINESS SET-UP ENCOMPASSES

  BUDGET

  PEOPLE MANAGEMENT

  EXHAUSTIVE MARKET REQUIREMENTS

  SUPPLIES

  PEOPLE AND EXPERTISE

  SYSTEM
• The difference between a travel management company to travel agency

  travel management- sets the parameters

  travel agency- executes the reservations and bookings on the given parameters.
• ORGANIZATIONAL STRUCTURE

  1. Basic/Commonly Used Structure - Can apply for the simplest structure regardless of the size of a travel management company.
  2. Organizational Variations or Modifications - preferred by a client in order to adapt to a company that needs specific travel management services.
• TMC'S 8 AREAS OF SERVICES


  Travel needs of the client

  Acceptable budget (responsive & efficient)

  CLIENTS - corporate companies, Individuals, Families, organizations

  Travel policy-making

  Negotiations - travel suppliers & vendors

  Designing travel products

  Detailing the travel execution

  Documentation - process & eventual results of travel movement