Learn about actual and potential costs
How much should I pay for Corporate Travel Services?
What is the average price of Corporate Travel Services?
This procurement report includes pricing information to help you purchase Corporate Travel Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Corporate Travel Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Corporate Travel Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Corporate Travel Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Corporate Travel Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Experience and Expertise
How long have you provided these products to your longest-tenured client?
What qualifications does your staff have and what measures do you take to keep those qualifications up to date?
What industry do you most commonly supply this product for?
To what extent will ordering multiple products from your firm allow me to save on costs?
What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?
Supply Chain Risk
Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?
Has the availability of raw materials tightened due to the coronavirus outbreak?
Over the past three years, what percentage of your revenue has been dedicated to labor?
How have fluctuations in input prices affected the prices of your products during the past three years?
How do you mitigate sudden price increases in raw materials?
When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?
How, if at all, has your supply chain been affected by import tariffs levied in 2018?
How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?
How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?
What ongoing training procedures do you provide for your staff?
Have you ever been found to be noncompliant with regulatory frameworks?
Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
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Key elements for every RFP
What should my RFP include?
Buyers should indicate whether they intend to purchase services on an ad hoc basis or would like to enter into a contract and be regularly billed for services.
Buyers should request a detailed breakdown of the agency’s fees for booking each type of service, including any differences between domestic or international prices and group or individual prices.
Buyers should indicate their preferred billing period, if entering into a contract.
Buyers should inquire about commission and override structures, including whether or not these savings are passed through to the buyer, when applicable.
Buyers should evaluate the vendor’s experience and reputation when serving other clients.
Buyers should weigh the benefits of the vendor’s travel partnerships for their own needs. For example, a client with global travel needs should favor a vendor that partners with international airlines and hotel chains.
Buyers should consider the ease of use of the vendor’s front-end systems that will be used for booking, including any online portals and mobile applications that might be used by traveling employees.
Buyers should reference the Buying-Decision Scorecard section of this report for key criteria to consider when evaluating providers.
Buyers should indicate when proposals are due and when award information will be available.
Buyers should indicate their desired start-date for services, as well as the length of the contract and options for extension or renewal.
Buyers should reiterate any upcoming travel dates and specifications that the vendor will need to begin booking immediately.