When taking your first step into the mysterious world of business travel, a handy Google search is likely to be your best friend. To save you time searching, we’ve pulled together the most searched for terms, buzzwords and acronyms so you can get a head start on getting to grips with your business travel.
- A business travel policy is a policy document that outlines an organisation’s guidelines when it comes to booking travel for business. Whilst different organisations will vary in complexity, it basically tells employees what they can and can’t book in terms of cost and travel types.
Travel risk policy
- A travel risk policy details what organisation-specific dangers a company is susceptible to. For example a mining company that has frequent trips to a country with a high level of conflict would detail how that risks should be managed, the process and who is responsible for what action.
Business travel agent
- Business travel agents (also known as corporate travel agents or travel management companies) help organisations manage their business travel. They tend to provide a self booking tool as standard, while additional services include business travel data analytics, security & risk management and account management.
- The term Global Distribution System (GDS) relates to a system that distributes travel products to agents around the world. Travel agencies traditionally relied on GDS, but with the rise of online travel agents (OTAs), GDSs are now not the only option when it comes to acquiring access to a full range of travel content.
- The acronym NDC stands for New Distribution Capability, which was created by IATA to improve the way airline content is distributed. NDC is designed to address GDS limitations and provide TMCs with access to full air content, transforming the way air products are retailed to business travellers.
Business travel MI
- Management Information (MI) is the data collected by your Travel Management Company that provides vital information on your business travel. This information spans everything from CO2 emissions to duty of care data, which your TMC should use to help you to pinpoint areas where you can save money or improve traveller compliance, behaviour or safety.
- Prepayment in the business travel industry is where a travel booking is paid for in advance, usually by the organisation, meaning the traveller will not have to pay out themselves at the time of travel and claim back the expense.
- A SLA, or Service Level Agreement is the minimum service standard you expect to receive from your TMC including response time and service availability. The SLA should be mutually agreed and incorporated into your travel management contract.
Call of contract
- Call-off contracts are individual contracts that fall under framework agreements. Organisations may set stringent terms and conditions as part of a framework agreement or, alternatively, set boilerplate conditions of the contract which can then be modified under the agreement.
- In business travel, traveller tracking is the ability to track employees’ locations when they travel on company business. Organisations have a duty of care to their employees so it’s important that they know where their travellers are and can contact them quickly in the event of an emergency.