Travel Management Software

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TravelBank

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 about TravelBank

TripActions

TripActions is the only all-in-one travel, corporate card, and expense management solution, providing 8,000+ customers around the globe unprecedented visibility and control over spend. Trusted by travel managers and finance teams ...Read more about TripActions

Routespring

**MAKE WORK TRIPS, WITHOUT PAYING FOR IT** Routespring empowers your company with realtime visibility and controls that helps your team #GoFurther. FliudTravel: Manage all your company’s travel one place - configure travel poli...Read more about Routespring

4.73 (48 reviews)

TravelPerk

We’re making it easier, faster, and cheaper to book business trips and keep travelers safe and happy. The result is a smoother booking and travel experience for everyone, that also gives businesses all the control they need. Wit...Read more about TravelPerk

Egencia Suite

Egencia is a modern corporate travel management system for the fast-changing travel landscape. Egencia provides features to manage travel risk, support traveler well-being, and maximize ROI in your business travel program. - Comp...Read more about Egencia Suite

3.88 (48 reviews)

TravelWorks

TravelWorks by PC Voyages is a cloud-based business and accounting management solution designed for travel agencies of all sizes. It offers reservation management, invoicing, accounting, customer relationship management (CRM) and ...Read more about TravelWorks

4.50 (12 reviews)

SalesTrip

SalesTrip is a cloud-based travel and expense tracking system on Salesforce, helping organizations simplify and better manage business travel and spend. The platform enables employees to save time by searching, booking and expensi...Read more about SalesTrip

4.83 (12 reviews)

WorkPlace Expense

WorkPlace Expense is an easy-to-use expense management platform designed specifically for businesses. WorkPlace Expense automatically captures receipts, extracts data from them, matches that data against previously submitted expen...Read more about WorkPlace Expense

4.22 (9 reviews)

Divvy

Divvy is a free cloud-based accounting and expense management solution for businesses. Key features include managing payments and subscriptions, building strategic budgets, automated expense reports and virtual cards. Divvy t...Read more about Divvy

Spendesk

Spendesk is a cloud-based spend management solution designed to help businesses handle invoices, approval processes, expense reimbursements, virtual debit cards and more. The platform uses optical character recognition (OCR) techn...Read more about Spendesk

Itilite

ITILITE is an AI-powered integrated travel and expense management software that helps companies automate their travel and expense processes end-to-end for increased efficiency. The platform offers the following features: : 1) Ea...Read more about Itilite

4.43 (70 reviews)

SAP Concur

Concur is a cloud-based expense and travel management software solution that enables executives to manage travel expenses. It allows finance executives to monitor expenses and cash flows related to travel expenditures. Concur’s t...Read more about SAP Concur

ExpensePoint

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 about ExpensePoint

Thomalex

Thomalex is a cloud-based solution that helps small to mid-size travel agencies and travel management companies build and run online booking engines. It allows end-users to create personalized profiles and receive frequent flyers ...Read more about Thomalex

4.83 (12 reviews)

Rydoo

Rydoo is an expense solution that helps high growth and enterprise businesses reduce admin work and easily process employee expenses. It lets users scan and digitize receipts using a mobile app for Rydoo Expense to scan and extrac...Read more about Rydoo

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Intelledox

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 about Intelledox

4.70 (10 reviews)

Toogo

Toogo is a cloud-based tour operator software designed to help travel agencies create new products, market them online via websites and manage bookings. The key functionalities include a trip builder, sales management, logistics m...Read more about Toogo

4.79 (28 reviews)

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XpenseCo

XpenseCo is a travel and expense management software designed to help businesses of all sizes manage corporate bookings and claim reimbursements. Administrators can view upcoming or canceled reservations and track expenditures for...Read more about XpenseCo

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Ezus

Ezus is a travel management software that helps organizers create custom events and travel plans. The platform enables organizations to design budgets and programs. Ezus assists users with handling customer information using ...Read more about Ezus

4.45 (22 reviews)

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Fairjungle

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 about Fairjungle

5.00 (17 reviews)

Buyers Guide

Last Updated: October 18, 2021

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:

What is travel management software?

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.

User profile dashboard in Concur (Source)

Common features of travel management software

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.

What type of buyer are you?

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:

  • Small and midsize businesses: Since travel expenses of SMBs are not the largest cost component in their account books, these buyers shouldn’t select a travel management solution simply because it's rated highly by other companies. They can start out with a cloud-based tool that offers the basic features and are available on lower monthly subscription plans. Correspondingly, integrations are something these buyers can overlook at the initial stages, until they are confident that a dedicated tool for this function is useful.
  • Large businesses: Typically, these buyers already have software tools to handle core functions such as human resources (HR), accounting, and customer relationship management (CRM). Travel management as a function needs to be closely tied to these core processes to ensure transparency and consolidation of processes. Thus, extensive integrations with other business applications become a key requirement for this buyer group.

Benefits of using travel management software

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.

  • Improves travel policy compliance: The tool offers reporting dashboards that allow managers to track and trace the causes of non-compliance with their company’s travel policies. Managers can quickly identify areas where most users find it challenging to follow compliance, and suggest appropriate remedial actions.
  • Lessens administrative burden: By allowing users to self-book, raise approval requests, and upload expense receipts, the tool relieves the finance team from repetitive tasks, allowing them to focus on analyzing expense trends and suggesting cost improvement strategies.

Key considerations when selecting travel management software

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:

  • Mobile access: Does your business need to allow users to book and manage travels while on the go? If yes, then you should check whether the software is accessible from iOS and Android mobile devices. Using the mobile dashboards, travelers will be able to book flights and accommodation, capture and upload travel expense receipts, and receive booking status alerts directly on their phones. One caveat is that you should check whether the features of the mobile version are at par with that of the web version.
  • Integrations: Integrations become important when you’re managing large user groups. For instance, with a travel management software that integrates with your company’s HR solution, you’ll be able to seamlessly share details of employees between the two systems. Likewise, integration with accounting solutions allows you to update your company's account books with travel expense data imported automatically from the travel management solution.

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.