What is a corporate Travel Management Company (TMC) and what is Business Travel Software (BTS)?

Nov 13, 2023
Business Travel
traveller checking their invoices

Managing organisation and budgeting for employees’ travel needs can be time-consuming. Many companies opt for outsourced support that can take the form of either a corporate Travel Management Company (TMC) or dedicated Business Travel Software (BTS). Each of these travel management solutions offers different types of support and benefits. Let’s take a look at what these two different solutions are and what they have to offer.

What is a corporate Travel Management Company (TMC)?

A Travel Management Company (or TMC) is an independent company that offers a travel management service to companies. It includes everything from booking flights and hotels to reserving rental cars, meeting rooms, taxis and restaurants. Some TMCs also offer extra services like writing travel policies, handling expenses and offering customer service support to handle any unexpected events before or during the trip. They usually have a team of travel agents who offer support and advice to companies.

The main benefit of a TMC is that it provides a full-service solution with personalised support. Your company won’t need to expend its internal workforce on organising your business travel. Essentially, you are outsourcing a travel management department. While TMCs can usually find you the best deals and save you money on your flights, accommodation, etc., you will also be paying for their services, which may balance any savings.

What is Business Travel Software (BTS)?

Business Travel Software, on the other hand, is a technology-driven solution for corporate travel management that puts your employees in control of their travel arrangements. It offers a simple, easy-to-use interface containing a range of flexible travel options. Processes are streamlined and comprehensive, allowing you and your employees to control your business travel arrangements at all times with minimal effort.

In addition to business trips and meetings, the software can:

  • Manage commuting and after-hours travel

  • Company events

  • Client travel

The software also lets you set and enforce corporate and individual travel policies. With features like online booking tools, expense tracking and traveller profile management, a BTS can make managing your business travel easier, more efficient and cheaper.

Whether you opt for a TMC or a BTS depends on your organisation’s specific business travel needs and preferences. Both a TMC and BTS offer your company a travel management solution, but with different approaches and benefits. However, if the idea of maintaining full control of all your travel needs and costs appeals to you, why not take things to the next level and check out our app, the ultimate Business Travel Software brought to you by the Mobility Super App with the largest vehicle choice for consumers across Europe.

Why use Business Travel Management Software?

Business Travel Management Software (BTS) is an essential tool for companies whose employees travel regularly, and those who only need to travel once in a while. It allows your employees more flexibility over how they travel, gives you visibility over how your business is moving and removes the stress of manually expensing travel receipts.

Business Travel Software is powerful and flexible, enabling you to easily stay in control of your corporate travel, while still focusing on what’s important to your business. Check out these five reasons why a BTS might be just what your company needs.

5 advantages of using travel booking software for business

Private Hire Vehicles

FREENOW for business  is a BTS that is backed up by an impressive fleet of comfortable private hire vehicles.

Including Europe’s largest range of zero-emission company transport, providing a more seamless and efficient travel experience for your employees while also helping you to reduce your company’s carbon footprint and meet your sustainability targets.

The FREENOW Mobility Super App incorporates many other features, such as mobile booking and check-in, itinerary management, and travel alerts, all enhancing your employees’ experience. You can also use it to get your team home safely after working late or from the Christmas party. With the Web Booker, you can also book a taxi for your clients without them needing to download the app.

Reduced Costs

A BTS like the Admin Panel from FREENOW for Business offers a range of useful features like helping companies save money on travel expenses. You can stay in control of your spending with features like comparing prices from different vendors and creating and tracking individual travel policies and cost centres.

Increased Efficiency

A BTS can simplify business travel by providing a single platform where employees can search and book flights, hotels, rental cars, private hire cars, buses, trains and a range of other services. This streamlined booking process saves time and reduces the risk of errors or duplication. Additionally, all payments are centralised, with detailed expense reports and one monthly invoice. It removes the pesky work out of processing expenses. You can track trips in real time on a central dashboard.

Save Time on Business Trips

FREENOW for Business users enjoy real-time updates on their travel itinerary. This allows employees to quickly adjust their plans and avoid wasting time. They can also choose the appropriate travel options for their route. Should plans change for any reason, they can easily book a private hire car in the app, see when it will arrive and how long the journey will take.

Sustainable Business Travel

FREENOW’s software tracks each employee’s business travel carbon footprint and provides detailed CO2 reports. You can use this data to set your sustainability targets and power your CSR strategy. Easily make adjustments to your travel policies to reduce emissions.

These five points are just a few examples of how a BTS like FREENOW for Business helps you up your business travel game. With a BTS, you'll:

  • Save time and money, 

  • Make life easier for your travellers, 

  • See all your business travel in real-time and keep on top of your travel expenses.

  • You’ll be able to demonstrate your company’s commitment to sustainable business travel.

What kind of support can you expect from our Business Travel Software?

FREENOW’s Business Travel Software, the Admin Panel, offers a wide variety of features that will support your travel management needs, including:

  • Corporate account management – FREENOW is a business travel agency offering a centralised travel management platform for managing business travel accounts, allowing companies to easily add and remove employees, set travel policies, and monitor travel expenses

  • Ride-hailing and taxi booking – FREENOW allows employees to easily book private hire vehicles and taxis for business travel through a single platform, reducing the need for multiple apps or services

  • Real-time expense tracking – unlike other business travel providers, FREENOW tracks travel expenses in real-time, providing employees with an accurate and up-to-date view of their expenses and making it easy to submit expense reports

  • In-app payment – FREENOW offers centralised in-app payment options, reducing the need for employees to carry cash or credit cards while travelling for business and allowing you to pay for all business travel with one monthly invoice

  • Support for sustainability – FREENOW offers sustainable travel options like electric vehicles, eMopeds and ride-sharing, promoting more eco-friendly business travel, and detailed reports that help you track your carbon footprint and reach your CSR targets

  • Create and enforce travel policies – FREENOW allows you to create individual travel policies and cost centres for each team and track expenses in real time to make sure you stay in control of your spending

If you’re still unsure which travel management solution is right for you, take a look at the FREENOW for Business platform and get started right away for free. FREE NOW’s comprehensive business travel software platform offers corporate travel management solutions that provide support for account management, ride-hailing and taxi booking. It helps with expense tracking, payments, sustainability and a lot more. Managing your business travel has never been easier – find out how you can help your employees move around hassle-free, while saving both time and costs.