The benefits of travel management software are vast, and they compound across all sections of your working infrastructure. Likewise, for any company with notable global business travel, this is an absolute no-brainer. In the same fashion, using business travel management software can definitely drastically improve internal efficiency and deliver cost savings across the board. This article looks at the best and most free travel management software.
How Does a travel management company work?
A travel management company (TMC) is a travel agency that provides extensive business travel support to organizations of all sizes.
What is Travel Management Software?
Users of travel management software have a place to plan, purchase, and track their trip expenses. Businesses use this software to manage corporate travel budgets, centralize employee travel expenditure data, and simplify purchasing decisions. Travel management solutions give consumers a mechanism for booking and automatically reporting their travel purchases, as opposed to using individual agents or submitting self-purchased receipts to an expenditure management software.
Additionally, this software makes it easier for managers and staff to communicate about business travel while also enabling managers and accountants to run reports and reimburse staff. Additionally, it guarantees that employee travel for work purposes complies with corporate guidelines.
Benefits of Travel Management Software
A high-quality travel management system will significantly improve the quality of your operations. It centralizes key data and decision-making around travel—while also allowing for integration with other parts of your business. By organizing everything in one place, you can reduce the room for errors and make the process easier.
In addition, a good travel management system will plug into the wider expense report management system. It will ensure that everything is recorded for quality assurance purposes. This simplification also makes a big difference in terms of remittances and reimbursements when required, plus the benefit of better visibility into key travel budgets.
Is Concur a Travel Management Company?
Today’s oldest provider of travel and cost management software is SAP Concur.
Business Travel Management Software
The 2008 financial crisis left companies short on cash, and industry growth has been slow ever since. More and more team members are coming to grips with the difficult travel booking process. Most business travelers know where they’re going, but don’t necessarily know how to book the trip. You can have a company travel buyer or let them make the booking, or you can let them do it for you—we think the second option is best.
List of Business Travel Management Software
#1. TravelPerk
TravelPerk puts the world’s largest travel inventory in one place. Just like the sites you use in your personal life, TravelPerk also brings different airlines, hotels, trains, and more into its dashboard and mobile app. Tracking bookings and producing reports becomes incredibly simple with this app.
#2. Airbnb for Work
Airbnb business travel management software bookings are linked to the company profile so you can easily track bookings. There are spaces to rent for meetings and conferences, and even temporary office space. AirBnb Experiences also help you find good team-building activities if you’re taking a group on the road.
#3. TravelBank
TravelBank is a business travel management software that automates the expense reporting process. Users can screenshot receipts for flights or ground transport, and these are matched to charges on the company card. Individual travelers can also earn rewards for bringing the company discounts through TravelBank—a nice way to incentivize responsible spending.
#4. Flightfox
In order to assist travelers in consistently booking the ideal experience, Flightfox is also a business travel management platform. You enter information online rather than needing to visit a travel agent’s office. According to Reviewopedia, the majority of travel and hotel offers are simply accessible online; it is not magic.
#5. Lola.com
Lola.com is an intuitive, agile travel management solution that people actually want to use. The app also allows you to get 24/7 test-based support from live travel experts. Lola has taken the whole process of booking and managing travel down from three days to ten minutes.
#6. AirHelp
What do you do when a team member’s flight is canceled or delayed? AirHelp tells you whether you’re eligible for compensation and what to do next. They can also assist the company to recoup costs, which helps their budget and your bottom line.
What Are the Five Basic Functions of a Travel Management Agency?
The primary responsibilities of travel agencies and tour operators include ticket buying, itinerary creation, trip planning, and processing of travel documents.
Best Travel Management Software
The best travel management software includes the following
#1. Emburse Certify Travel
Emburse Certify Travel is one of the best travel management software that is a web-based, user-friendly travel booking solution for small to medium-sized businesses.
Through automated expense reporting and simplified workflow, Certify can eliminate the need for spreadsheets and paper receipts while reducing the time spent creating, approving, and reimbursing a report. Certify’s automated AP solution is seamlessly integrated into the leading Certify expense management platform, making it simple to process company invoices.
#2. Egancia Suite
The global business travel platform for a constantly changing travel environment. Speak with a product specialist to learn how Egencia can help you manage travel costs, make the booking process easier, and also save money. Egencia has the strong backing of American Express Global Business Travel. We work together to support and accommodate 2 million business travelers for all organizations. We are here to look after your travelers so they can look after your business.
#3. TripActions
TripActions, the only all-in-one system for managing travel, corporate cards, and expenses, provides its 8,800+ customers worldwide with exceptional transparency and control over expenditure. Businesses can use real-time data from TripActions’ Liquid to keep people on the road safe, reduce costs, and increase productivity. Both the financial and travel management divisions have confidence in it.
#4. Divvy
Divvy is a completely free travel and expense management forum that helps companies manage travel, per diem, and team budgets and stop expense reports. It also provides organizations with instant insights into their spending by integrating real-time tracking for every business transaction. With Divvy, you can make informed cash flow decisions, prevent losses from repeating, and never have to save another receipt again. Divvy is also completely free, and it offers 1% cash back and discounts of 15–50% on travel.
#5. SalesTrip
SalesTrip travel management software is a travel booking system with automated expense management that allows firms to book travel and track spending quickly and easily. Flights, hotels, trains, and more are booked by the sales team alongside your customer and revenue data, saving travelers significant time when managing travel. SalesTrip handles costs in the same way. By tracking spending for business purposes, you can provide your company with real-time analysis to show how travel adds to company growth.
How do I Choose a Travel Management Company?
Here are five things all companies should look for when selecting a travel management company; security, responsiveness, comprehensiveness, experience, and technology.
Free Travel Management Software
Check out the free travel management software list. The products on this list are those that provide a free trial version. As with most free versions, there are limitations, usually in the form of time or features.
#1. Kayak
Kayak for Business is a free travel management software search and booking engine that functions in the same way as its consumer platform, Kayak. Users don’t have access to any customer service function, and all amendments, cancellations, and refunds must be processed via the original provider.
#2. Soldo
Soldo is a payment and spending management automation platform suitable for firms of any size. Similarly, the platform enables firms to make payments using physical and virtual cards, set custom budgets and budget rules, and track spending in real time. Soldo equally offers several useful integrations with accounting, expense, document management, and open banking solutions.
Soldo’s free travel management software version provides access for up to five users (up to one admin and one accountant) with five user cards and basic spend management features. Soldo is available in Italy and the UK, with passports to over 30 countries in Europe. The company also offers additional pricing tiers: Pro 5 for £30 per month, Pro 10 for £60 per month, and Premium for £90 per month.
#3. Booking.com
An online travel agency and the marketplace is Booking.com. Users can look for lodging, travel choices, rental cars, and package discounts. The company also offers a rewards program, and the search platform is accessible in 43 different languages. Although third-party aggregators frequently charge clients specific fees, using it is free.
#4. PackPoint
Depending on the duration and nature of the trip (business, leisure, or both), PackPoint generates packing lists. Users can mark off the stuff they’ve packed as well as hide any unnecessary items. Both a free and a premium version are available. For $2.99 per year, the app’s subscription version adds further features like the option to design unique packing lists and activities.
#5. Tripkicks
Tripkicks provides insights and alerts for travel plans to help users optimize their travel experiences. Additionally, its ‘basic package’ is free and offers access to client billing and custom checkout features. The Premium package costs $29/user-month per for unlimited projects and access to its code export feature and domain aliases.
What Is the Difference Between a Travel Agency and a Travel Management Company?
A travel management company works closely with businesses to assess and then streamline all aspects of their present travel program, which is fundamentally different from a travel agency. One travel agency focuses on assisting clients in planning business travels.
What are the Pillars of Travel Management?
The four main pillars of good travel management are efficiency, productivity, safety, and transparency.
How Do Travel Management Companies Make Their Money?
Service fees, net/private fares, and airline commissions are the key revenue sources for travel management businesses.
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FAQs on travel management software
How can travel management be improved?
4 steps to the best travel management process flow
- Determine priorities for administrators, managers, and travelers.
- Use a booking platform that allows travelers to book for themselves.
- Streamline your policies and approvals process.
- Help travelers access direct support.
What is travel management software?
Travel agents, tour operators, destination management firms, and travel agencies can better serve their clients by using travel management software.
What is a corporate travel management system?
Corporate travel management software enables businesses to manage all travel-related expenses efficiently and in accordance with corporate travel guidelines.