Most SMBs still handle business travel one transaction at a time. Each employee books on Booking or Expedia, pays out of pocket, then submits an expense report. This siloed approach costs more than it seems. The cost is not in ticket prices. It lies in admin time, lost sight of the budget, and no way to negotiate corporate rates.
A business travel agency, or TMC (Travel Management Company), solves exactly these problems. This guide explains what a TMC really does and when you need one. It also shows how to choose between the market players in 2026.
- A TMC is more than a booking tool. It covers travel policy, rate negotiation, duty of care, and reporting, none of which a consumer platform offers.
- The French business travel market is worth about €40 billion. It is split between global players (Amex GBT, BCD Travel) and agile digital platforms (Navan, Fairjungle).[1]
- The practical threshold for a TMC is around €50,000 in annual travel spend. Below that, negotiated savings usually do not cover the service fees.
TMC vs. online booking tool: the fundamental difference
An online booking tool (Booking, Expedia, an airline's own site) optimises a single transaction. It finds the ticket or room at the lowest rate available right now. A TMC optimises a whole travel programme. It builds the company's travel policy and negotiates contract rates based on annual volume. It checks every booking against the policy, tracks travellers in real time, and delivers consolidated reports.
This is not a cosmetic difference. Without a TMC, a CFO has no reliable view of what the company really spends on travel. The data is spread across a dozen platforms and as many personal cards. With a TMC, every booking goes through a single point and policy exceptions are logged. Negotiations can then rest on consolidated volume.
In practice, an SMB that books 200 hotel nights a year one at a time pays the rack rate. Through a TMC with negotiated rates, the same SMB gets terms close to those of a large enterprise at the same chains. The discounts range from 15 to 30%, depending on volume and destination.[2]
The five core services of a TMC
1. Negotiated rates and NDC access
Major TMCs hold contracts with airlines, hotel chains, and car rental companies. With airlines, they book via GDS and, more and more, via NDC (the New Distribution Capability standard). These rates are not open to individual companies below a certain volume. In 2026, TMCs with native NDC connectivity save a further 3 to 8% on airfares compared to GDS-only access.[1]
2. Duty of care
This is one of the most important requirements for companies with a lot of international travel. The TMC tracks where travellers are in real time. It starts a crisis response in the event of an incident (terrorist attack, natural disaster, strike) and coordinates emergency evacuations. This service matches the employer's legal duty to protect employees (art. L.4121-1 of the French Labour Code). A TMC provides documented proof of compliance on this point.
3. OBT (Online Booking Tool)
Most TMCs provide an online booking tool set up to match the company's travel policy. Employees book on their own, but the tool blocks out-of-policy bookings (class too high, booking too last-minute, hotel cap exceeded). This ends the tension between traveller freedom and compliance. And no one has to approve every booking by hand.
4. Reporting and budget management
Data from every booking is consolidated in real time. It shows spend by traveller, by destination, and by category (air/hotel/car). It also shows the policy compliance rate and the estimated carbon footprint. A CFO can then manage the travel budget like any other cost centre, instead of just absorbing whatever comes in.
5. 24/7 assistance
A travel adviser is available around the clock for last-minute changes, cancellations, and missed connections. This service is most useful on complex itineraries or for hard-to-reach destinations.
A TMC is not measured by its ticket prices, but by the invisible savings it generates. Policy compliance, contract rates, no more expense reports, and travel budget tracking: these operational gains justify the service cost.
Comparing the main providers in 2026
The market has two segments. Large traditional TMCs serve mid-market and enterprise clients. More accessible digital platforms serve SMBs.
| Provider | Positioning | Strengths | Best for |
|---|---|---|---|
| Amex GBT | Global leader (includes former CWT since Sept. 2025) | 140+ country coverage, global airfares, advanced duty of care | Large enterprises, international mid-market |
| BCD Travel | 2nd globally, 109 countries | ESG reporting, TripSource platform, native NDC | Mid-market and larger SMBs |
| FCM Travel | Flight Centre network (Australian) | Agile, open APIs, intuitive dashboard | Fast-growing SMBs |
| Navan | Integrated travel + expense SaaS | Consumer-grade UX, integrated corporate card, automated expense reports | Scale-ups, tech-first mid-market |
| Fairjungle | French startup, founded 2019 | Modern interface, SMB negotiated rates, GDPR-native | French SMBs, 20–500 employees |
Amex GBT and BCD lead on international coverage and robust duty of care. They are the right choice for a mid-market company with regular missions outside the EU. Navan and Fairjungle meet a different need. They offer a user experience close to consumer tools and direct links with expense management. Their pricing suits companies with 20 to 500 employees.
When does an SMB actually need a TMC?
Here is the practical threshold. Below €20,000 in annual travel spend, the savings from a TMC usually do not cover its service fees. Between €20,000 and €150,000, a digital platform (Navan, Fairjungle) adds value without the complexity of a full master contract. Above €150,000, a traditional TMC with volume-based negotiated rates almost always pays for itself.
One factor brings the threshold forward: how complex the trips are. Take a company that sends technicians to overseas job sites, or salespeople across several continents. It needs the structured duty of care of a TMC well before it reaches the spend thresholds above.
For occasional trips or companies below the threshold, use a well-documented business travel policy with a corporate card and extra travel insurance. Together, they cover the main risks without the full cost of a TMC.
TMC and corporate card: two complementary tools
A TMC and a corporate card work together. They do not replace each other. The TMC handles bookings, policy, and reporting. The corporate card covers expenses on the ground (taxis, meals, local transport, incidentals). Digital platforms like Navan bundle their own corporate card with the OBT. This automates expense reconciliation. A hotel booking paid with the Navan corporate card creates the accounting entry automatically, with no manual expense report.
Some companies use a corporate card that is separate from their TMC. For them, automatic accounting export via API means no more re-keying data between the two systems. When choosing a TMC, check that it can export to the company's accounting format (Sage, Cegid, Pennylane, Xero).
Frequently asked questions
References
- Fairjungle, How to Choose Your TMC, fairjungle.com: French business travel market €40bn in 2024, NDC savings 3–8%. ↩
- Selectour Affaires, Choosing Your Travel Management Company, selectour-affaires.com. Volume-negotiated rates: 15–30% discounts depending on destination. ↩
Business travel guide: Travel policy, lodge cards, insurance, and per diem: the complete business travel guide covers every aspect of corporate travel management.
