Travel managers are reshaping the business events industry, driving data-driven decisions and demanding greater transparency and efficiency from providers, writes Darren James Riley, country manager at TruTrip
In the fast-evolving events industry, a new kind of professional is quietly rewriting the rules.
With only 11 per cent of companies maintaining a dedicated travel department, the majority are increasingly relying on multitasking travel managers (MTMs) – a versatile group that is transforming how organisations approach business events. These professionals juggle multiple roles, but their fast-growing influence on the industry is undeniable.
MTMs are driving a shift in how events are planned, executed, and optimised for business impact. Armed with data-driven insights, digital tools, and strategic partnerships, they are not only focused on cutting costs but also on enhancing compliance and maximising the value of each event. By balancing price sensitivity with comprehensive spend analysis, MTMs are pivotal decision-makers who significantly impact a company’s bottom line.
Our research has found pivotal areas where MTMs are shaping smarter decisions. For providers of business events, adapting to the evolving role of MTMs is crucial. This includes offering better digital solutions for cost transparency, predictive budgeting, ROI tracking, and enhanced policy compliance and risk management. The question is no longer if MTMs will reshape the industry – but how quickly the industry can adapt to them.
Providing cost transparency and budget forecasting
In a typical organization, employee overspending can consume 20 to 33 per cent of total travel and expense (T&E) budgets, making T&E the second-largest operating expense after payroll. This financial strain is particularly significant in the business events sector, where precision and cost control are critical to delivering successful events.
MTMs are rising to the task, using data analytics and real-time expense tracking to provide organisations with clearer insights into spending patterns. This allows them to identify inefficiencies, eliminate waste, and create more accurate budget forecasts – a key need for the 63 per cent of companies struggling with T&E forecasting.
However, MTMs do not operate in isolation. Their ability to drive smarter decisions depends heavily on the support and adaptability of providers of business events. As MTMs gain more control over cost management, they seek event service providers that can offer more than just basic services. They need partners who understand the nuances of budget forecasting, ROI tracking, and compliance management. Above all, providers must deliver tools and insights to streamline costs without sacrificing quality.
For organisers, this presents both a challenge and an opportunity. However, those who adapt and help MTMs maximise the value of each event while delivering impactful outcomes will rise above competitors and lead the sector.
Offering data on past event ROI
The business travel sector is predicted to hit an all-time high of US$1.5 trillion by the end of 2024. However, in the past year, many companies, especially in the tech sector, have strongly tightened their belts to weather economic uncertainties and budget constraints. As a result, MTMs are more rigorously evaluating event spending with a heightened focus on ROI.
Now more than ever, organisations need clear metrics about events. They especially need to know how much participation will cost so they can better track ROI and allocate resources accordingly. As a result, there is more pressure on organisers to demonstrate the value and ROI of their events.
In particular, they must highlight how their events contribute to business goals, provide opportunities for meaningful networking, and offer additional concrete benefits.
Ensuring policy compliance and risk management
MTMs shape how companies navigate the intricate landscape of MICE travel, where compliance and risk management are particularly challenging.
Unlike general travel, the business events space involves complexities associated with group bookings, large-scale international conferences, and event-specific travel logistics. Compliance in these contexts is crucial – not just to control costs but to manage legal, safety, and operational risks.
For instance, group travel often brings unique obstacles in adhering to company travel policies, with fluctuating rates, last-minute changes, and varying attendee preferences. We also overlook the complexity of just booking, these are group bookings which are tiresome due to the need for airline direct communication and Online Booking Tools (OBTs) not allowing bookings typically over six at a time.
International events add layers of complexity, including visa regulations, cross-border tax considerations, and health and safety standards. MTMs help mitigate these risks by leveraging advanced travel solutions that monitor compliance in real-time, ensuring every booking aligns with company policies while maintaining traveller autonomy.
Providers of business events can better support MTMs by offering enhanced data and reporting tools tailored to event-related travel, along with flexible booking options that accommodate group needs and potential itinerary changes. Additionally, transparent cost structures and detailed reporting empower MTMs to maintain strict budget oversight and manage ROI more effectively. Aligning with MTMs’ priorities can help companies mitigate risks and ensure seamless, compliant event execution while staying within budget constraints.
Syncing success: business events, MTMs, and the future of business travel
The bottom line: Travel managers’ perspectives vastly influence how travelling professionals book and choose events. To that end, providers must tailor their offerings accordingly. As organisations face tighter budgets and increased scrutiny on ROI, MTMs are leveraging data and advanced travel solutions to enhance compliance and manage expenses more effectively.
For providers to thrive in this new chapter, they need to focus on crafting strong partnerships with MTMs. This includes focusing on local resources, offering flexible booking options, and delivering clear performance metrics. Through these collaborative relationships, both providers and MTMs can achieve growth, drive their mutual success and maximise business travel cost.
Darren James Riley is a country manager at TruTrip. He leads the local operations and strategy of a travel technology company that provides sustainable solutions for corporate travel. With over a decade of experience in B2B and B2C sales across multiple global markets and industries, Riley has a proven track record of growing and retaining client base, increasing revenue and profitability, and delivering exceptional service and value.
