
SAP Concur
ExpensePoint is a cloud-based solution designed to help small to large businesses automate employee expense reporting. It enables users to generate, submit, approve and process reports for multiple expenses on a unified platform. ...Read more
TravelBank is a cloud-based expense reporting solution for corporate travel. It helps small and midsize businesses to manage flights, accommodations and other travel expenses, and also provides automated expense reports and direct...Read more
Mobilexpense MXP is the all-in-one travel spend management solution provider for large multinationals... and so much more. Mobilexpense MXP’s uniquely flexible SaaS solution simplifies business travel for employees, HR and Finance...Read more
Webexpenses is a cloud-based travel management solution that enables businesses to streamline operations related to invoicing, corporate travel, expense auditing and more. It provides mobile applications for Android and iOS device...Read more
TripActions is a web-based solution designed to help businesses across multiple industry verticals such as finance, human resources and travel to automate processes related to corporate trips through reporting, booking management ...Read more
Intelledox is a low-code, cloud-based content and workflow automation (WCA) solution designed to transform B2C operations and improve customer engagement. Businesses and governmental organizations can streamline complex processes ...Read more
**ROUTESPRING IS BUSINESS TRAVEL WITHOUT PERSONAL CREDIT CARDS** Routespring empowers your company with realtime visibility and controls that helps your team #GoFurther. Beyond technology, Routespring truly cares for people whose...Read more
Fairjungle is a mobile travel companion for business travelers. It provides tailored recommendations, a door-to-door route optimizer, one-click approval, and many other features designed to change the travel experience. This uniq...Read more
Travel expenses might not be the largest cost component in your company’s accounting books, but it’s definitely a difficult one to track and control. Even after laying down a clear set of travel policies, ensuring that every corporate traveler follows the best practices is not certain.
To ensure that corporate travelers are following travel policy guidelines, managers need visibility into their spending patterns and purchase decisions. The management needs to set up approval workflows to verify that travelers are purchasing from the preferred carriers and suppliers. Finally, spending limits need to be defined and expenses tracked for compliance reporting.
Managing all of these tasks manually can be a huge administrative burden for managers. To drive efficiency, they should use travel management software that comes with functionalities such as approval workflows, booking, and expense reporting.
In this buyers guide, we’ll take a closer look at the features and benefits of travel management software to help you find the right one for your business.
Here’s what we’ll cover:
Travel management software is a tool used to manage business travel requests and expenses. Corporate travelers can use the tool to self-book flights, cars, and hotels from approved providers via their profile dashboards, while management can use it to check employee compliance with travel policies, analyze expense trends, and identify cost improvement areas.
Travel management software comes with functionalities that reduce the administrative burden that arises out of messy paperwork. Let’s look at some of the common features:
Approval workflows | Set up approval workflows based on different parameters, such as corporate traveler groups, business departments, countries, and budget. |
Expense tracking | Allow users to upload receipts, invoices, and related expense data such as credit card transaction details into the system. |
Booking management | Book flights and hotel accommodations for single or multi-destination trips, while automatically finding the best rates from preferred providers. |
Policy management | Inform users on whether their travel choices match company policies and allow managers to quickly view the same information. Track policy compliance issues by departments, traveler groups, and expense amounts. |
User profile dashboard | Allow users to open new travel requests, track approval status, make bookings, and upload expense receipts on a single dashboard. |
Reporting and analytics | Understand the expense trends, policy non-compliance, and cost improvement areas for individual or group travelers with the help of visual reports, such as charts and graphs. |
Travel management software can be used by small and midsize businesses (SMBs) as well as large enterprises. Let’s look at the chief concerns of these two buyer groups:
Travel management software helps in automating the management of corporate travel booking, allowing your finance department and team manager to focus on more strategic tasks rather than manually tracking expenses and compliance issues for every employee.
Besides analyzing the features and understanding the benefits, businesses should keep a few additional factors in mind when purchasing travel management solutions.
Let’s look at some of them:
Note: The applications selected in this article are examples to show a feature in context and are not intended as endorsements or recommendations. They were obtained from sources believed to be reliable at the time of publication.