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Procurement Market Intelligence Report

Travel Risk Management Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Travel Risk Management Services?

What is the average price of Travel Risk Management Services?

This procurement report includes pricing information to help you purchase Travel Risk Management 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 Travel Risk Management 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 Travel Risk Management 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 Travel Risk Management 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 Travel Risk Management Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

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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?

Regulation

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?

Project Budget

Buyers should state their total annual budget for the contract.

Buyers should request a detailed breakdown of the subscription costs, including overage fees.

Buyers should request a detailed breakdown of the risk assessment, software and other setup costs.

Buyers should indicate their total annual travel budget, which will be used to pay out emergency travel services contracted on behalf of the buyer.

Buyers should clarify the billing process, including how emergency travel costs will be approved and passed though.

Selection Criteria

Buyers should evaluate the vendor’s experience and reputation when serving other clients.

Buyers should consider the vendor’s ability to meet the service requirements laid out in the RFP, including their ability to supply value-added services like travel-booking.

Buyers should weigh the strength of the vendor’s third-party relationships, including how such partnerships work with their own partnerships and needs.

Buyers should consider the ease of use of the vendor’s software that will be used by traveling employees.

Buyers should reference the Buying-Decision Scorecard section of this report for key criteria to consider when evaluating providers.

Project Schedule

Buyers should state the deadline for proposal submissions.

Buyers should indicate when award information will be available.

Buyers should specify their desired start-date for services, as well as the length of the contract and options for extension or renewal.

Evaluate major factors to mitigate risk

How risky is the supply chain?

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HIGH

MEDIUM

LOW