What is travel and expense management software?
Travel and expense management software can help companies manage and track business travel spending. Whether it’s for booking travel, managing travelers, or creating expense reports, T&E management software is a must for businesses sending employees on corporate business trips.Businesses of all kinds can benefit from corporate travel and expense management software as it can:The best travel and expense management solutions
Let’s take a look at the top six travel expense management solutions available today.Click below to compare both platforms’ features and benefits
Why choose TravelPerk over SAP Concur?When is the right time to find a travel and expense management solution?
If your company is currently spending too much time and money on business travel, chances are your business could benefit from a travel and expense management solution.Managing business travel manually can be an expensive hassle, but travel and expense management solutions can help. Use them to:- Identify where you could be saving on your travel budget
- Find better deals on travel and accommodation with negotiated rates
- Lower your overall travel spending
- Make life easier for your corporate travel manager(s)
- Enable employees to easily self-book travel within your organization’s company policy
If you meet the qualifying criteria, jot down what business needs your new tool stack addition should meet.What should you look out for in T&E software? 6 Key features
Travel management software enables companies to manage all things business travel. Whether it’s travel booking, traveler tracking, flight changes, or any other corporate travel need, travel management company (TMC) solutions can help simplify your corporate travel.Consider the following factors, and evaluate how important they are for your travelers’ needs:1. A user-friendly travel management platform
You need to ensure all employees can use your T&E software platform, from your IT intern to your CEO. Consider the dashboards that users see when using the software. Are they confusing and outdated, or intuitive and modern?Look for expense software with a simple approach to onboarding that doesn’t require in-depth knowledge to manage business travel. When possible, request a demo before committing to a purchase.2. Multiple user profiles
The ability to create multiple user profiles is essential for managing your corporate travel program. Different employees have different roles, and not all of them require the same access level to your travel management software. User profiles ensure your team has access only to what they need, thus increasing data security and control.3. Travel policy integration and compliance
Your organization likely already has a company travel and expense policy. If it doesn't, you can use our sample company travel policy to create your own.Your travel policy outlines the rules relating to travel spending and ensures your employees stay within your travel budget. The software you choose should integrate with your travel policy. That way, you can keep track of travel expenditures and ensure your travelers remain within budget.4. A seamless reimbursement process
Expense tracking and receipt scanning capabilities will help you manage expenses and reimbursements efficiently. Receipt scanning, for example, ensures all employees are providing accurate expenses, and that you have evidence of it for VAT and tax purposes.5. Automated approval workflows and reporting
Whether it's getting approval on proposed trips or automating the invoicing process, you need a tool that streamlines your travel booking and reporting. This will save your team members substantial time.Need an easier way to manage expenses for business travel?
Read our 3 step guide on automating expense management for business travel6. Integrations with existing tools
Integrations are essential for a seamless travel management process. When choosing software, look out for integrations with:Now that you know what makes a great expense management solution, it’s time to see one in action.Travel and expense management software for your business
Travel and expense management solutions help companies organize and manage corporate travel and its associated expenses. With the right expense management process in place, businesses can cut costs and reduce hassle.A comprehensive travel and expense management solution helps both travel managers and finance managers create more cost-effective travel programs. Get in touch today to find out how TravelPerk can simplify your corporate travel and provide key insights to continuously optimize your travel processes.?)
?)
?)
?)
?)
?)
?)
?)
?)
?)
?)
?)
?)
?)