Travel and expense management software is regarded to be an all-in-one solution for managing and tracking business travel expenses. T&E management software is essential for businesses sending employees on corporate travel, whether for booking travel, managing travelling employees, or creating expense reports.
Corporate travel and expense management software can aid businesses of all sizes. It’s critical to have a comprehensive overview of your respective corporate travel spending and professional customer support if you run into any problems. It also aids in booking travel following your company’s travel policy and streamlining your billing process.
What Is Travel And Expense Management?
Travel and expense management (also known as TEM or T&E) regulates the business travel budget to have visibility over costs and prevent them from occurring in the first place. Organizations develop travel and expense policies to inform employees about how much they can actually spend and where they can spend it.
TEM’s Numerous Objectives Include the following:
- Expense management
- Keeping disruptions at bay
- Controlling productivity in the submission, approval, and reimbursement of expenses
- Financial Accounting
- Third-party vendor bargaining
- Duty-of-care assistance and support
The Best Travel and Expense Management Solutions
Now that you know what you’re getting for a travel expense management software solution let’s look at the top six options. Here are some platforms to consider when booking corporate travel in 2022.
Travel and Expense Management Software
TravelPerk is a popular business travel management platform that allows customers to book and manage corporate travel. The solution integrates with various other tools, including Rydoo and Circula, two popular expense management solutions. This ensures you have everything you like on a single, simple platform.
The Primary Advantages of Travelperk Are:
- Booking travel requires access to multiple user profiles.
- Non-employee guest profiles for booking and managing business travel
- When providing booking options, the company’s policies must be followed.
- Integrations with popular tools such as Expensify, Ratehawk, and BambooHR.
- Excellent customer service is wholly available seven days a week,24 hours a day, with a response time of 15 seconds.
- Advanced reporting and insights for a complete spending picture
- Quick VAT recovery solutions—use TravelPerk’s VAT recovery calculator to see how much you could save.
TravelPerk also provides a flexible travel solution, FlexiPerk, to assist businesses in reducing unnecessary travel spending. Companies that cancel up to two hours in advance can get at least 80% of their money back with FlexiPerk.
Businesses can also use GreenPerk, TravelPerk’s carbon offsetting solution, to monitor their sustainability goals. Companies can book green business travel and support green initiatives the TravelPerk Sustainability team hand-picked.
TravelPerk’s detailed travel management solution is simple, and the expense management integrations allow for a simple workflow for all corporate travel requirements. TravelPerk provides everything you need in a travel and expense management solution. Try TravelPerk today to experience firsthand its high-quality, professional services and begin simplifying your corporate travel process.
Fyle – Travel and Expense Management Software
Fyle is expense management software that helps businesses and employees manage expenses and reimbursements more effectively. Fyle integrates with TravelPerk to provide seamless travel expense reporting, accounting, and employee data integration. It offers complete control and visibility over T&E processes to finance managers.
Fyle’s Main Advantages Are As Follows:
- Manage receipts and business travel details with ease.
- Using a central dashboard, you can save or submit digital expense reports.
- Set business travel expense reimbursement policies to ensure travel compliance.
- Credit card management software is available for monitoring and processing company credit cards.
Fyle cannot assist with corporate travel planning, but its integration with TravelPerk provides travel managers with a single location to manage all business travel processes. Any trips booked through Travelperk will be created as expenses in Fyle, with invoices attached as attachments. The 2 solutions work together to give you a complete picture of your travel spending. Fyle offers a simple platform that provides a streamlined travel and expense management process when combined with your favourite solutions.
SAP Concur – Travel and Expense Management Software
It is a travel and expense management software that is all-in-one. It aids in automating your work processes for a more direct travel management experience. It’s available in hotels, airline tickets, and taxis.
The Following Are The Primary Advantages Of Sap Concur:
- Controlling your travel and expense management can help you save money overall.
- Enhance your compliance and assist in risk mitigation
- Simple cloud solutions implementations
- A solution for scalability for expanding businesses
- For those looking for mobile app capabilities, this site is mobile-optimized.
SAP Concur, like TravelPerk, provides a comprehensive solution for managing business travel and expenses. When it comes to booking corporate travel, TravelPerk has a lot more to offer for smaller businesses:
- With a more extensive inventory, TravelPerk can offer better deals from a broader range of travel providers, such as flights, hotels, and car rentals.
- SAP Concur pricing can be challenging to estimate because many features are optional extras. TravelPerk charges you only when you travel, with no hidden fees or add-ons.
- TravelPerk’s platform is simple to set up and use, whereas SAP Concur users frequently complain about the tool needing to be more straightforward.
TravelPerk assists businesses in saving money on travel and efficiently managing expenses. SAP Concur provides comparable solutions but needs an intuitive interface and an expert support team.