Organizing business travel can take time and effort. You must take into account not only the various requirements of every passenger but also the cost-effectiveness of your total trip itinerary. In this blog post, we’ll examine the top corporate travel management software on the market and how it can make your company’s travel processes more efficient.
What Is Corporate Travel Management?
A company’s framework for facilitating business travel is known as corporate travel management. This involves organizing a corporate event, scheduling a business trip, or performing any other necessary tasks for the corporate traveler. Corporate travel agents are responsible for ensuring that the procedure is carried out correctly and in compliance. All of this must be accomplished without compromising corporate productivity.
What Is Corporate Travel Management Software?
Corporate travel management software enables businesses to manage all travel-related expenses efficiently and in accordance with corporate travel guidelines. Without the assistance of any specialized agents, employees can now plan, manage, and track their journeys thanks to the program. Through an automated approval system, the administrators can approve and pay for these trips. Businesses use software to generate reports on travel-related data and to obtain insights into how to reduce and maximize their travel expenses. The software’s capabilities also include tracking and compiling previous travel invoices.
Benefits of Corporate Travel Management Software
The travel management app keeps all of your travelers’ travel documentation in one place. Everything is kept there, from reservations for flights and hotels to information on renting a car and cost reports. Travelers can easily adjust their trip plans thanks to the app’s self-service features.
Keeping track of the locations of many staff while they are on business trips might take up your entire day. Employee travel schedules are more precise with travel management software. This kind of service makes it simple to know which employees are traveling at the moment, where they are staying, and when they plan to return.
As a travel agency, your staff should have a thorough understanding of your customers’ journeys before, during, and after their trip. This translates to improved acceptance rates, fewer training expenses, and a decrease in support calls from employees who can’t locate or comprehend the information they need to execute their jobs.
Best Corporate Travel Management Software
Below is a list of the best corporate travel management software for efficient travel management and organization.
Navan is an all-in-one solution that streamlines travel so you can concentrate on where you are going. Save your stacks of receipts and stop spending hours on the phone trying to change your flight. Navan gives everyone the freedom to focus on what matters most to them. This includes everything from EAs and financial teams to travel managers and staff, all while giving businesses real-time visibility, cost savings, and control.
#2. SAP Concur
As the global leader in integrated travel, expense, and invoicing management systems, SAP Concur is committed to streamlining and automating these routine business operations. Moreover, with SAP Concur, employees are guided through each trip via a top-rated app. Charges are easily added to expense reports, and invoice approvals are carried out automatically. Businesses can also know exactly what they’re spending without worrying about budget blind spots by integrating near real-time data and utilizing AI to audit 100% of transactions. Additionally, solutions from SAP Concur help businesses run at their peak performance every day by eliminating laborious duties from the past and simplifying current tasks.
The largest travel inventory in the world is available through TravelPerk, along with effective travel management tools. It also makes it simple for managers and passengers to plan travel that complies with policies for both parties.
Owners of travel budgets and financial teams can also obtain all the tools they want from TravelPerk. This includes compliance insights, expense reporting and integrations, and trip expenditure tracking. Travelers and administrators highly recommend the tool. Additionally, TravelPerk provides a free option for business travelers searching for top-notch tools without the added expenditures.
The only globally recognized B2B travel IT platform is Egencia, an American Express Global Business Travel Company. We emerged from the research facilities of major global internet companies and provide more than two million passengers globally with the best user experiences, unrivaled content, and unparalleled service. Egencia, a member of the most valuable business travel marketplace, is unmatched in its ability to power the travel programs of 9000+ organizations across more than 60 countries with industry-leading data analytics and AI-driven innovation.
#5. Zoho Expense
A top travel and cost management tool, Zoho Expense has assisted companies in streamlining corporate travel, automating expense reporting, and gaining total control over spending. In order to increase the productivity, cash flow, and overall financial health of your company, we’ve designed the software to limit overspending at its source, reduce manual involvement, avoid policy breaches and fraudulent claims, and provide insights into discretionary expenditure. For T&E management, businesses of all sizes, such as startups, unicorns, and enterprises, should use Zoho Expense. The easiest way to learn why is to register for a free trial right away!
The industry standard for expenditure management is Expensify. It provides a smartphone app for simple expense tracking (just take a picture of your receipt and it will enter the data for you). Additionally, it now has a new credit card option, so staff members don’t even need to worry about uploading receipts for numerous transactions.
Travel managers can tailor their programs and boost compliance with the aid of our premier corporate travel software solution. Besides, Travel management companies (TMCs) can create more interesting customer experiences with the help of Deem. And for their travel management teams, CFOs receive expense control and operational efficiency. Additionally, business travelers are the driving force behind our Etta software. In Etta, they’ll discover a collection of online trip planning and management tools that is both thorough enough for elaborate journeys, including renting a car, and user-friendly enough to submit cost reports quickly and effortlessly. Travelers will choose the best course of action for themselves and the business when they have a true desire to use a solution like Etta.
The software from Expensya makes it simple for firms to monitor their everyday costs, including office spending and business trips. Accounting automation, self-managed expenses, options specifically for daily allowances, intelligent validation and control, smart recognition technology, and integration with a wide range of software solutions all contribute to the solution’s ability to expedite expense reporting procedures.
In more than 70 countries, Webexpenses is a top provider of cloud-based travel and spend management software for companies of all kinds. Webexpenses solutions are demonstrated to save businesses time and money by automating manual operations, increasing spend visibility, reducing errors, and so on. Moreover, our suite’s flagship product, our award-winning expense management solution, has a track record of up to 30% T&E expenditure reduction. Our expenditures software also helps users by rapidly creating claims from scanned receipts, and finance teams profit from visibility, control, policy reiteration, and compliance. Furthermore, for smooth administration of your company’s spending, use Webexpenses’ extra solutions for audits and payments. You can equally use it for trip management, and invoice processing in addition to our expense management system.
This spend management solution, which is intended for companies of all sizes, comes with smart corporate cards that make it simple to track, classify, and report on company transactions. Businesses can build budgets, keep track of costs, and produce virtual credit cards to manage subscriptions using the free tool from Divvy.
What Do Companies Use to Book Travel?
Travel booking, trip planning, tracking, and reporting are all done with the aid of travel management software. The automation of corporate travel regulations and the capability to combine travel invoices and vendors are other significant features and applications.
What Is a Corporate Booking Tool?
Business travelers can arrange their travels using online travel agency software known as a corporate booking tool, or CBT. CBTs streamline the entire corporate travel and lodging booking process, and businesses utilize them to control employee reservations, guarantee policy adherence, and assist with the duty of care.
What Is an Example of Corporate Travel?
Traveling to a distant location to meet suppliers or business partners, traveling for a conference or business event, and traveling to a different branch of the same firm are a few examples of common sorts of business travel.
Corporate travel management software can save businesses time, money, and hassle. When researching the best corporate travel management software for your business, be sure to consider factors such as cost, features, security, and customer service. With the right research and expertise, you will find a corporate travel management solution that meets your business needs while helping you stay within budget.