Review and comparison of the top Travel Management Software to help you select the best Travel Management System that guarantees to solve your travel-related issues:
The term ‘business travel’ can easily make the uninitiated imagine a glamorous picture riddled with business class flights, expensive corporate dinners, luxury hotel stays, and many other pleasant pastimes. However, the reality is much harsher and far from the attractive scenario we just walked you through.
Business trips can be rather arduous for both those who travel and those behind the scenes who administer them. It is especially challenging when trying to plan, allocate, and manage expenses pertaining to such trips.
What You Will Learn:
- Travel Management Software
- List Of Best Travel Management Software
Travel Management Software
Many organizations seem marred by outdated practices and inefficient expenditure processing. This can eventually result in a waste of valuable time and resources. Fortunately, these problems today have a phenomenal solution in the form of travel-management software that is specifically designed for companies that organize frequent business trips.
These solutions are intuitive and advanced enough to solve several issues associated with an incompetent expense managing system. They can simplify and expedite the flight and hotel booking procedure considerably.
They are also useful in helping the management comply with corporate travel policies. Apart from the above, great travel-management software can provide valuable insight into travel expenditure, provide customized workflows, and manage employee reimbursements smoothly.
In this article, we will look at some of the best travel management software available for use today. We curated this list after experiencing the various proclivities of these tools for ourselves. As such, we believe all the below-mentioned tools are guaranteed to solve your travel-related issues with finesse.
Consider the following things when opting for travel expense management software:
- The tool should have a user-friendly interface and must simplify the booking process for administrators.
- It should harbor features that automatically comply with established corporate travel policies.
- The software must be intuitive enough to provide easy access to a huge inventory of airline and hotel accommodation globally.
- Look for software that manages business trip schedules conveniently for individual employees as well as an entire team. It must automate the entire expense reporting process associated with business trips.
- Finally, look for software that comes well within your budget. Compare multiple tools with price and features acting as key qualifying factors. This will help you land on software that feels right for your business.
Fact Check: According to Allied Market Research, the business travel market that stood at 1.3 trillion USD in 2016 is expected to reach 1.6 trillion USD by 2023. The report also mentions how the business travel market is segmented into three main categories, which are food and lodging, transportation, and ultimately recreation.
Out of the three, the food and lodging sector has registered the highest growth, followed closely by recreation.
Frequently Asked Questions
Q #1) Why is Travel Management software needed?
Answer: Business trips can be costly and rather complex to manage with all of its aspects involved. A good travel and expense management software simplifies the entire process right from booking to the management of receipts. It is useful to save time and money on managing travel-related expenses.
Q #2) What are some of the most essential features that travel management software must have?
Answer: A great travel management system must harbor features such as automated creation of expenses from receipts and credit card transactions, generating expense reports, setting travel policies, and automated booking process for travel and accommodations.
Q #3) Are Travel Management Software affordable?
Answer: This depends on your budget and the software provider you approach for services. Most travel expenses management software providers offer a custom price to their clients based on their requirements. Some of these tools were designed to cater to businesses of all sizes, while others only work for large enterprises.
List Of Best Travel Management Software
Here is the list of some popular Travel Expense Management system:
- Paramount WorkPlace (Recommended)
- SAP Concur
Comparing Best Travel Management System
|Paramount WorkPlace||Businesses of all sizes||Contact for Pricing|
|TravelPerk||Small Enterprises||Free Plan available, Premium Plan $15/trip, Pro Plan $25/trip|
|Flightslogic||Travel Logic||Contact for Pricing|
|Salestrip||Small and Mid-Sized Enterprises||$9/user per month, $15/user per month.|
|Flightfox||Mid-Sized and Large Enterprises||Free plan available, Corporate – USD -$100/month, Enterprise USD -$ 250/month|
Let us review the corporate travel management systems in detail.
#1) Paramount WorkPlace (Recommended)
Paramount WorkPlace is best for businesses of all sizes.
Paramount WorkPlace is a fully integrated software that phenomenally simplifies the entire management process associated with travel-related issues
This fully integrated travel and expense solution supports employees by offering a smart booking engine that captures industry-leading travel content and presents trip options according to your policy. This booking engine integrates corporate travel policy, pre-trip authorization requirements, and negotiated airline, hotel & car rental rates into a best-in-class booking path that synchs travel data into the expense solution.
It’s easy for the traveler because it synchs digitally captured receipts with the associated expense report. Powered by sophisticated OCR technology, it can impeccably identify all the necessary information required for receipt processing without any errors.
The generated expense reports can be easily routed to the right individual whenever required. Furthermore, approval requests can be sent easily via emails for instant approvals. You also get reliable insight into your expenditure with the help of comprehensive reporting metrics.
- Set Policies and Automate Travel Planning
- Streamlined Approval Workflows
- Instant Insight into Metrics, Budgets and KPI’s
- Automated Generation of Expense Reports
- Employee Duty of Care to Assess Potential Travel Risk Exposure
- Discounted Pricing on Major Carriers
With a sleek UI and a competently automated mechanism, Paramount WorkPlace is undoubtedly one of the best travel management solutions you can get your hands on today. It provides a ton of great features that help promote smarter, easier travel and automate expense reports instantly. It also comes with an intuitive mobile app, which makes the experience of using it all the more satisfying.
Price: Contact for pricing
Best for small enterprises.
TravelPerk is a smart travel companion for businesses operating on a limited scale. It packs everything pertaining to efficient management of business travel under one robust platform. The tool can be used to serve a multitude of purposes, from booking flights and accommodations to managing travel receipts.
TravelPerk’s interface is simply sublime, providing excellent control and visibility to its users. The software makes it incredibly simple to receive expense reports and actionable insights on a company’s travel expenditure. Plus! Its mobile-friendly app makes the booking process considerably more convenient.
You also get access to what is arguably the largest inventory of flights, hotels, and rented vehicles from across the globe. Moreover, TravelPerk automatically sets travel policies so management doesn’t have to worry about compliance while administrating business trips.
- Automated creation and tracking of expense reports
- Actionable insights on reporting metrics
- Set travel policies automatically
- Access to a huge inventory of flights, hotels, and rented vehicles
Verdict: TravelPerk works largely due to its basic but attractive UI. It delivers spectacularly when tracking expense reports and managing travel plans. Ultimately, it is a highly intuitive software that small businesses can implement because of its affordable pricing plans.
Price: Free plan available, Premium plan $15/trip, Pro plan $25/trip.
Best for travel agencies.
Flightslogic offers an end-to-end travel solution that seems like a perfect fit for travel agencies. They provide a customized flight and hotel booking engine that streamlines and automates the entire business process.
It effectively brings together all important data pertaining to a business’s travel expenditure under one roof. In doing so, the solution enables managers to effectively regulate and organize the travel activities of a company’s employees.
The software can take care of every small and big detail pertaining to effective travel management. It can conveniently help in hotel and flight reservations, manage travel schedules of individual employees as well as an entire team, and ensure they have the necessary documents needed to proceed with their trip.
- Access to a large inventory of flight, hotels, and vehicle rentals across the globe
- Easy travel schedule management
- Assured travel policy compliance
- Easy fight and hotel reservations
Verdict: In hindsight, Flightslogic can do wonders for a travel agency. The collaborative approach they take to create customized booking software can help many small agencies taste success faster and grow into profitable businesses in their own right.
Price: Contact for pricing
Best for small and mid-sized enterprises.
Salestrip effectively combines travel management with the management of expenses to help companies control their spending and grow exponentially in the process. Salestrip’s AI-driven interface provides a company’s employees with a broad inventory of flights, accommodations, and rentals to choose from.
So employees don’t have to bother browsing other websites to make their travel plans. The tool promotes a feature known as the ‘Intelligent Trip Request’, wherein employees get to make requests for travel in the same place a manager reviews and approves them.
Salestrip compliments its efficient travel management offerings by automating the entire receipts and expense reporting process. It facilitates reliable receipt management, bulk approvals, and easy allocation of expenses against multiple business activities with just a few clicks.
- AI-Driven UI
- Intelligent trip request
- Automated expense reporting
- Bulk approvals of travel receipts
- Back-office integration
Verdict: Salestrip performs its dual duties of both travel and expense management with spectacular efficiency. The software provides users with features that help in expediting the process of expense reporting and executing travel plans while controlling spend on the concerned travels.
Price: $9/user per month, $15/user per month
Best for mid-sized and large enterprises.
Flightfox is a tool that managers can use if they want to fully transfer their administrative duties to smart software. Flightfox allows you to relax as it essentially reports, books, and analyzes everything pertaining to the booking of flights, hotels, and rental vehicles.
The software provides a dynamic UI that gathers all crucial data pertaining to business travel under one secure and comprehensive database. The software basically works on auto-pilot by helping your team find the best prices for their business trips.
Furthermore, as it is basically a cloud-based platform, managing your travel plans is considerably more convenient from anywhere in the world. If there are changes to be made, then all such modifications can be done with just a few clicks.
- Cloud-based travel management
- One-click amendments to cancel or change bookings
- Sleek and comprehensive UI
- 24/7 customer support
Verdict: If you need a solution that optimizes your travel plans for incredible convenience, tempting benefits, and competitive prices, then Flightfox is the software for you. We recommend this software for smooth management of your company’s business trips, right from booking to eventual management of expenses.
Price: Free plan available, Corporate–USD -$100/month, Enterprise USD -$250/month
#6) SAP Concur
Best for large enterprises.
SAP concur is where a company goes when they need travel management software tailor-made to suit their custom needs and requirements. When it comes to effective travel management, SAP concur has the tools and network of travel suppliers a company may need to realize their travel and spend goals.
The solution can effectively capture travel data from anywhere in the world, irrespective of where it was booked. It also consolidates all crucial data under one comprehensive dashboard for easy access and reporting. The software also executes the travel management process in a way that does not warrant the violation of existing travel policies.
On the other hand, the software is fantastic when automating and integrating expense management. It helps you capture expense data from multiple sources and provides you with better insights for logical decision-making. It makes enforcing policies easier and ensures employees are reimbursed without delays.
- Automatically capture receipts from multiple resources
- Consolidates important data in a single dashboard
- Easy compliance of travel and expense policies
- Easy hotel, flights, and rental car booking
Verdict: SAP Concur provides an all-in-one travel management solution specifically designed to cater to a business with special requirements. The software is ultimately simple to operate and performs everything, from booking reservations to capturing receipts with utmost proficiency.
Price: Contact for pricing
Website: SAP Concur
Best for businesses of all sizes.
Webexpenses is another in a line of great user-friendly travel expense management software that is ideal for business travel planning and management. It consolidates a wide inventory of flight, hotels, and rental vehicle information from around the world under one solid system. This helps managers compare different options from one dashboard and take advantage of the best deals in the market.
Integrated with a powerful AI, the tool can understand your travel preferences and retrieve ideal itineraries from the Internet to satisfy those preferences. It also streamlines and simplifies the workflow with regard to the verification of travel requests.
An intuitive pre-approval process and lower rate verification system can be set up here to help save more time on booking. A company’s travel plan can be seamlessly integrated into this system. This allows the tool to ensure whether the booked business trips are in compliance with established corporate policies or not.
- AI-assisted booking
- Automatic compliance to travel policies
- Set pre-Approvals process
- Real-time reporting of important travel and expense insights
Verdict: Webexpenses is a smart tool that can efficiently manage a company’s travel plans and the expenses associated with them. Its powerful AI makes the tool a hard one to ignore. It is an incredible tool to gain quick insights into a company’s performance with regard to expenses on business travels.
Price: Contact for pricing
Best for businesses of all sizes.
TravelSuit offers an all-in-one travel management platform that is simply breathtaking to look at. Its beautiful UI makes the solution more convenient to use by everyone, even those who find themselves inept with technology.
It streamlines the entire booking process for managers, making it simple to help employees get the best fares in the market. The tool also helps them set a pre-approval system to expedite the approval of travel requests.
It also provides important financial data pertaining to travels to help managers control their expenditure on travel. The reporting metrics you get from TravelSuit can be used to get an important insight that eventually helps your company grow and prosper.
- Easy booking of travel and hotel accommodation
- Pre-set approvals for travel requests
- Automatically comply with company travel policies
- Get advanced reports on travel expenditure
Verdict: TravelSuit strives to provide full clarity in the booking process. You get access to a user-friendly interface that makes it very easy to book flights and hotels from one place. There is no need to waste time on approvals as the tool takes care of it for you. It also promotes efficient budget management by providing comprehensive insights into a company’s overall spending on travel.
Price: $45/month for the basic plan, $117/month for 15 trips a month, $171/month for 25 trips a month.
Best for small businesses.
Now here is a software that acts as your own personal concierge, albeit without the human temperaments. Expensify can be used to access a wide inventory of flights, hotels, and rental vehicles from around the world to compare prices and finally make reservations of your choosing.
Although great as a travel management solution, it works especially well as a tool that allows you to manage all your expenses under one roof. It is extremely easy to track bills, collect payments, plan trips, generate invoices and manage company credit cards with Expensify.
The tool can easily capture receipts from anywhere around the world and push them forward through the system for instant approval and quick reimbursements for employees.
- Intuitive Trip Planner
- Smart Capture of Receipts
- Easy creation and tracking of expense reports
- Integrates seamlessly with other accounting software
Verdict: With its marvelous design, advanced features, and comprehensive interface, it is quite surprising how simple it is to get it up and running. It works well as a travel management solution but is exceptional when managing a company’s expenses throughout all its various departments.
Price: Starting $4.99/month
Best for mid-sized and large enterprises.
TripActions provides everything a company expects from the robust travel expense management software. However, it delivers a more personalized experience than other tools on this list. You get armed with all the tools you need to manage your corporate travels from one place.
You have access to data that helps managers take advantage of the best fares in the market to control spending. The tool also uses machine learning to understand your booking preferences and recommend plans that complement those choices.
Apart from these, the tool promotes seamless connectivity between its mobile and desktop versions for competent itinerary management. Suffice to say, it is quite proficient when it comes to controlling costs associated with travels without compromising on the quality of your business trips.
- Machine Learning-based travel planning
- Data-Drive travel and expense management
- Efficient itinerary management
- Set travel policies automatically
Verdict: TripActions with its comprehensive interface and smart features makes the management of travel and expenses considerably simpler throughout the entire organization. From proper itinerary management to deliver valuable reporting metrics, this is a great tool to have for businesses to save a considerable amount of time executing business travel plans.
Price: Contact TripActions for pricing.
Most travel management solutions act as ideal solutions to problems a business may potentially face while managing its travel-related functions. You need good software that helps get your employees the best deals for their flight and hotel accommodations.
You also need them to help capture receipts accurately and convert them into expense reports that help employees receive their reimbursements on time. Such solutions keep records of all the expenses incurred on travels alone, access to which can help your business save money while making sure it constantly grows.
As for our recommendation, for an end-to-end travel management solution, look no further than ParamountWorkplace. If you run a travel agency that seeks access to a broad inventory of flights and hotel accommodations around the world, then you will find Flightslogic more in line with your requirements.
- We spent 14 hours researching and writing this article so you can have summarized and insightful information on which Travel Management Software will best suit you.
- Total Travel Management Solutions Researched – 27
- Total Travel Management Systems Shortlisted – 10