Information sharing significance
One of the main aspects of traveling is about how to manage it. A company that is conducting this is said to be conducting (CTM) Corporate Travel Management, which is the function of managing a company’s strategic approach to travel (travel policy), the negotiations with all vendors, day-to-day operation of the corporate travel program, traveler safety and security, credit-card management and travel and expenses.
This should not be confused with the work of a traditional travel agency. What travel agencies are doing is one part of what a CTM is doing.
For most companies that have traveled as one of their activities to conducting businesses. It is considered to be the second highest controllable annual expense, exceeded only by salary and benefits.
However, this can only be done once all parties are collaborating to ensure that the management is done in the most efficient way. One of the main aspects of collaborating is done through information sharing.
Saving money for corporations, and making traveling further seamless for travelers, makes information sharing a win-win policy
Airline companies are employing strategic alliances to increase their competitiveness in service quality, innovation and cost due to the changed business environment as a result of increased competition in the airlines market
The nature of work between airlines and travel agents makes it important for both parties to provide integrated solutions to customer needs
By looking at better data sets, travel managers can help create savings for their clients and better understand the needs of individual business travelers.
The main purpose is to share information between all involving parties. This will result In customized offers and tailored services for the client’s environment.
This can be done best when transparency is available between all parties as we aim to bring the suppliers and the business travelers together
As a result, this will lead to the extraction of the most efficient deals from the suppliers and use it for the business travelers which will result in considerable cost saving