Managing unused tickets has always been a pain point for travel managers. Unused airline credits translate to money completely wasted, but the time it takes to manually track unused tickets erodes travel managers’ efficiency and productivity.
Which is why it’s no surprise that one of the top ways a Travel Management Company (TMC) can save your company money is by tracking and managing used tickets. In a typical year, a TMC-led unused ticket management program can save companies thousands, even tens of thousands, of dollars.
With the outbreak of COVID-19, this is certainly not a “typical year,” and the amount of money tied up in unused tickets will likely have a massive impact on any organization’s bottom line.
Unused tickets: from an annoying issue to a massive problem
The Coronavirus pandemic changed tracking and managing unused tickets from a nagging problem to a massive challenge that is impossible for organizations to ignore. Companies found themselves dealing with a giant pool of unused tickets all at once, and to make matters worse, every airline and hotel had their own policies for canceling or refunding reservations. And, those policies were changing constantly as the travel industry scrambled to cope with the impact of the virus.
Although the situation was wrought with overwhelming frustration, it also forced companies to reevaluate how they handle this long-standing issue. It has resulted in many seeking a better way to manage unused tickets and waivers that could save both time and money.
Overhauling processes and policies
By evaluating, updating, and enforcing your travel processes and policies, you can find more efficient ways to manage unused tickets as well as ensure that your business travelers understand the importance of adhering to these new policies.
For example, do you have a way to flag bookings that do not apply an unused ticket? Or is your TMC able to handle this for you? The more situations you can identify where credits can be used, the more likely you won’t be leaving money on the table.
Choose a TMC that’s up to the task
TMCs are industry experts that understand the nuances of each airline and hotel policy. They can ensure you receive the credits you deserve and that each one is properly applied. A good TMC will save you the burden of hours of administrative work and bring you peace of mind knowing that you’re not leaving money on the table.
But in order for your TMC to alleviate this pain point, they need the right technology and functionality. For example, your TMC should utilize real-time reporting with accurate information about available credits, including the value of the tickets and when they expire. Your TMC should also work with you to automate tracking and applying unused tickets during the booking process so that travelers can make use of these credits without taking extra steps.
Don’t let unused tickets impact your business’s bottom line. Contact the experts at Professional Travel (a Direct Travel company) to learn about how we can help.
Learn about Direct Travel's customized approach to corporate travel management.