Today we are pleased to announce a new service designed for Corporate Travel Managers that desire to have audits performed on their travel commission rebates. Considered by many to be a taboo subject, this audit is designed to determine if you have received all the commissions you are due as part of your agreement with your TMC.
If you have a contract with your TMC that requires them to pay you commissions earned because of the travel spend by your travelers, how do you know you are getting all you have earned? For years corporations have asked Topaz to audit these commissions - and while we have always been agreeable and open to such an audit - we never had a clear service offering. Today we have such a service.
How can you Audit Commissions?
To summarize in two words: Not Easily. Like the magical wizard of oz that hid behind a velvet curtain, commissions, and commission agreements are complex, vague and rarely discussed. However, like any good audit, the ideal is to understand what is due to a corporation and compare against what was actually paid.
What is needed to perform this service?
We require access to information that will allow us to check and validate performance. The best way to start is to look at a small time period of data - 30 days - and obtain detail data about booked data that could earn commissions. This would include all air, hotel and rental car commissions (and anything else!). Then we compare this against the commission agreements that impact your revenue stream. These would be the actual contract terms of commissions that are being paid to you. Many times this is unknown or is not shared with you by your travel partners.
This is where issues can arise. There has been much resistance of sharing such agreements. But how can you audit what you received if you do not know contractually what you were supposed to receive?
If you would like to discuss more please give Rebecca Frinell a call at 503.828.0993.