TripActions takes on legacy TMCs with new consultancy services

With TripActions latest funding round of $250 million in late June – at a massive $4 billion valuation - the company announced plans “to solve the antiquated product, service and experience of the corporate travel management industry” and today it is unveiling its first step in that direction.

The company is expanding its suite of enterprise solutions with the launch of TripActions Consulting, combining the automation capabilities of its technology with dedicated consultants to provide hands-on assistance for its large corporate clients.

TripActions vice president of booking experience and supplier strategy Danny Finkel says this launch formalizes services the company has been offering on an ad-hoc basis and, in tandem with the existing offerings of TripActions VIP Luxe and TripActions Meetings and Events, creates deep capabilities for global enterprises.

“TripActions Consulting will set the bar for what modern travel management partners should provide to better service business traveler needs, while taking into account the financial imperatives of the corporation and the market realities for suppliers,” Finkel says.

Finkel says unlike traditional managed travel programs that prioritize price, TripActions' strategy will be more dynamic and traveler-centric, using the capabilities of IATA’s New Distribution Capability standard and ATPCO’s Next Generation Storefront to provide a booking experience more closely aligned with leisure travel.

“So what are the amenities we can throw into these negotiated programs, what are the different ancillaries that can make programs more appealing,” Finkel says.

“Which is a win for the corporation because they’re actually looking at the holistic spend, not just the base price, so they are better able to monitor the spend across the organization and potentially realize much better cost savings by having that insight. And it’s a better experience for the traveler because we’re taking into account all of the things the travelers want and need and are booking anyways.

“And it’s quite frankly a win for the suppliers because we are going to be thinking through how it’s not just a price-led marketplace but that it is a truly a value-led marketplace.”

For its larger clients, TripActions consultants will provide ongoing assistance to optimize their travel programs and develop new inventory sourcing processes as needed.

“A lot of our clients are growing really fast. It doesn’t make sense to put a stake in the ground once a year and then have that be your program, so we want a much more evolving approach to this,” Finkel says.

“Which I also think the supply side is really going to appreciate because they can better tailor their offerings and they can in real-time make adjustments that make more sense to the clients that are using their supply.”

TripActions Consulting is rolling out initially to a small group of its customers and will be available to all in upcoming months.

The company says it has had 5x year-over-year growth and now manages more than $1.1 billion in annual travel budgets for more than 2,000 customers around the world, including WeWork, Lyft, SurveyMonkey, Complex Networks and others.