With global business travel spending expected to top $1.48 trillion, effective travel management is crucial for companies of all sizes. From client meetings to conferences, business travel plays a vital role in fostering relationships, closing deals, and driving growth. A 2023 Brex report on the state of business travel revealed as much, with more than 75% of respondents saying they increased their travel spend allocation in the past 12 months.

It’s not just trips and spending that are increasing. Travel’s importance is growing, too. Nearly every respondent (98%) in that same Brex survey said corporate travel is key to achieving their business goals. However, effectively managing all that corporate travel is challenging. Time-consuming expense reports and complex approval processes have travel managers and finance teams struggling to accurately track expenses, ensure policy compliance, and optimize costs.

Even as many companies are turning to technology to help improve travel and expense challenges, nearly half (42%) say their current solutions are difficult to effectively use. Without an easy-to-use solution, businesses struggle to maintain visibility over their travel spending and are stuck doing manual work filing and reconciling travel expenses.

By leveraging the right business travel management software, businesses can control costs, automate tedious tasks, gain real-time insights, and ensure a smooth travel experience for their employees while maximizing their return on investment.

It’s time to find the right solution for your business. Read on to find out the key traits to look for in a business travel management solution, the top travel management softwares, and why the right solution can streamline the entire travel process — from booking to expense reporting — and help you hit your goals in a more efficient way.

According to a 2023 GBTA survey, it takes your employees 20 minutes to complete a single expense report and costs $58 to process one, not to mention all the time it takes them to collect and organize their receipts before they even get started. That’s why most organizations need a better way to manage business travel.

There are several important factors to consider when choosing a business travel management tool. Here are five considerations to include in your evaluation:

1. User-friendly interface

Your next travel management tool must have an intuitive interface that makes it easy for employees and administrators to search, book, and build itineraries as well as manage travel expenses. As cited above, poor UX is one of the top challenges in effectively using a travel solution, and a user-friendly platform reduces the need for extensive training. Additionally, ease of use is critical for program adoption and prevents leakage when employees book outside the platform.

2. Integration capabilities

Does the travel management platform integrate with your existing systems, such as spend management software, HR platforms, accounting systems, and even your corporate card program? Broad integrations ensure interoperability with your current systems and will help automate processes and improve overall efficiency. Integrated cards ensure all your travel expenses are logged in one system.

3. Customization and policy compliance

You’ll want a tool that enforces your corporate travel policy before travelers charge a travel expense or book a flight. Look for a tool that offers customizable booking options, approval workflows, and spend limits to ensure compliance with your organization’s guidelines. Some examples include adding cabin class restrictions and booking lead times.

4. Reporting and analytics

How do you know if you’re getting the best ROI on your travel program? Robust reporting features are crucial for understanding travel expenses, identifying cost-saving opportunities, and making data-driven decisions. A leading solution will provide real-time expense tracking as well as detailed analytics on spending patterns, policy compliance, and supplier performance.

5. Global support and duty of care

If your company has international travel needs, ensure your system offers comprehensive global coverage for flights, accommodations, and ground transportation as well as duty of care capabilities to ensure employee safety. Additionally, consider the level of customer support provided, including 24/7 assistance for travelers via mobile app, email, or phone.

These factors will help you select a business travel management platform that aligns with your company’s goals and enhances the efficiency of your overall travel program.

A quick search of travel management providers will return a lot of options, so we’re breaking down the pros and cons of the top eight players in the space.

1. Brex

Brex is an all-in-one travel, expense, and corporate card management platform designed for modern businesses. Brex prioritizes ease of use and traveler satisfaction via consumer-grade booking on web and mobile app, 24/7 live support, unbiased global inventory, and traveler perks, including the ability to earn points on personal mileage programs. Our global travel capabilities were built from the ground up on top of Spotnana’s cloud-based travel-as-a-service platform and offer corporate credit cards, travel, bill pay, reimbursements, business bank accounts, and expense management on a single AI-powered platform. Businesses of all sizes can make every dollar count with an integrated approach to business travel that simplifies the entire process — from booking to expense reconciliation. With auto-generated receipts for every major airline (and over 3,000 other merchants) as well as automatic approval of expenses that are in policy, employees can focus on work, and managers can focus on approving only the exceptions. Our solution also provides real-time visibility into travel spending, helping companies optimize their travel budgets and negotiate better rates with suppliers.

Brex’s customizable spending limits ensure you can control all your spend in one place. The AI-powered platform also learns from each transaction, continuously improving its ability to detect out-of-policy expenses and potential fraud. Additionally, Brex’s global coverage ensures seamless travel management across borders, with support for multiple currencies and languages, making it an ideal solution for companies with international operations or expansion plans.

Key features:

• Extensive travel search and instant online booking

• Comprehensive travel and expense management

• Real-time expense tracking and categorization

• Automated receipt and approval workflows

• Integration with popular accounting software

• Virtual and physical credit cards

• Comprehensive rewards program including cash back

• User-friendly design and five-star mobile app

• Multi-currency support

• Local and global reimbursements

• Duty of care feature

Pros:

• Unbiased global inventory for airfare, cars, hotels, and rail

• Pre-negotiated travel discounts

• 24/7 agent support

• Self-service capabilities

• Flexible policy settings and strong compliance features

• Support for group events

Cons:

• Relatively new to the travel space

• Some integrations can be more complex

Pricing:

• Essentials: $0 user/month, includes in-app travel booking and support

• Premium: $12 user/month, includes managed travel program with customizable policies and travel concierge

• Enterprise: Custom pricing, includes support for offline bookings

Brex is particularly well-suited for growth-oriented businesses seeking an intuitive travel booking experience and a comprehensive, integrated approach to travel and expense management. Companies with frequent international travel needs – or those with global expansion plans – would find Brex’s multi-currency support and global coverage very beneficial. Smaller businesses with infrequent work trips and offsites may not benefit from a corporate travel management platform like Brex.

2. Travel Bank

TravelBank is a travel, expense, and corporate card management platform for modern businesses. TravelBank’s user-friendly interface, reimbursements, and mobile-first approach make it particularly appealing to tech-savvy companies and their employees.

Key features:

• Integrated travel booking and expense management

• Real-time policy enforcement and automated approval workflows

• AI-powered receipt scanning and expense categorization

• Built-in rewards program to incentivize cost saving

Pros:

• User-friendly interface with a reliable mobile app

• Integrates travel, expenses, and corporate cards

• Rewards program encourages budget-conscious choices

Cons:

• May have a smaller inventory compared with larger, established travel management companies

• Some advanced features require higher-tier plans

• Integration with certain legacy systems could be challenging

Pricing:

• Travel: $25/user/month

• Expense: $10/user/month

• Travel & expense: Custom pricing

TravelBank is best suited for small to medium-sized businesses that are a little more tech-savvy. It may be particularly appealing to companies with budget-conscious employees who appreciate rewards programs and are comfortable with AI-powered tools. However, larger enterprises or businesses with complex travel needs might find TravelBank’s inventory and advanced features somewhat limiting.

3. Travel Perk

TravelPerk is a business travel management platform designed to simplify the corporate travel process. Offering a large inventory of travel options and advanced reporting capabilities, TravelPerk stands out for its focus on traveler satisfaction.

Key features:

• Extensive travel inventory with access to a selection of low-cost options

• Offers 80% refund on cancellations for any reason

• Carbon offsetting program for sustainable travel initiatives

• Advanced reporting and analytics for spend optimization

Pros:

• User-friendly platform with an intuitive booking process

• Flexible booking options with generous cancellation policies

• Integrations with popular expense management software

Cons:

• Primarily focused on the European market, though expanding globally

• May be overkill for very small businesses with minimal travel needs

• Some advanced features may come at an additional cost

Pricing:

• Starter: Free (first 5 bookings each month, then 5% per booking)

• Premium: $99/month + 3% per booking

• Pro: $299/month + 3% per booking

• Enterprise: Custom

TravelPerk best suits medium or large businesses based in or frequently traveling within Europe that require a wide range of travel options. However, very small businesses with minimal travel needs might find TravelPerk’s offerings excessive, and companies primarily operating outside Europe may face limitations.

4. Navan

Formerly known as TripActions, Navan is an established travel, corporate card, and expense management solution. It uses AI and machine learning to provide a personalized booking experience and simplify expense processes. Navan caters to businesses of all sizes, from startups to global enterprises.

Key features:

• AI-powered personalized search results and recommendations

• Real-time expense reporting with automatic categorization

• Global inventory with access to negotiated rates

• Comprehensive policy controls and approval workflows

Pros:

• Consumer-grade user experience

• Solid mobile app for on-the-go travel management

• Group event booking capabilities

• Focus on cost savings and spend visibility

Cons:

• Pricing and transaction fees are higher compared to competitors

• Fewer built-in expense management capabilities

• Occasional syncing delays between travel bookings and expense reports

• Doesn’t offer free 24/7 support

Pricing:

• Navan Business (for companies up to 200 employees): Free

• Navan Enterprise (for large-scale organizations): Custom pricing

Navan is well-suited for larger businesses that are willing to pay a premium for a dedicated travel solution. Those with tight budgets might find Navan’s pricing and transaction fees challenging, and organizations that demand extensive expense management features, advanced spend controls, integrated corporate cards, or 24/7 free support may need to look elsewhere.

5. Route spring

Routespring is an AI-powered platform designed to simplify business travel booking and expense management. It combines traditional travel management capabilities with features like dynamic policy enforcement and predictive analytics. Routespring aims to provide a seamless, efficient experience for every stakeholder, including employees, managers, contract workers, interview candidates, clients, and other guests.

Key features:

• AI-driven booking recommendations based on traveler preferences and company policies

• Dynamic policy enforcement that adapts to real-time market conditions

• Integrated expense management with automated receipt capture and categorization

• Analytics dashboard for spend optimization and travel insights

Pros:

• Flexible policy management that balances traveler satisfaction and costs

• Strong focus on data-driven insights for better decision-making

• Integration with popular accounting and HR systems

Cons:

• Smaller inventory compared to established TMCs

• Some advanced features require additional training

• Lacks specialized features offered by industry-specific travel management solutions

Pricing:

• Economy: $0/month; $8 per booking

• Business: $999/month; 500 free bookings per month + $2 per additional booking

• First: $4,999/month: 2,000 free bookings per month + $1 per additional booking

• Custom: Tailor to your needs

Routespring is particularly beneficial for companies with diverse traveler types, including employees, contractors, and guests who need a flexible system that plays well with accounting and HR systems and are willing to invest time in training for advanced features. However, businesses requiring a vast travel inventory, those in industries with highly specialized travel needs, or companies looking for an out-of-the-box solution with minimal training requirements might find Routespring less appealing.

6. Itilite

Itilite is an AI-powered business travel management platform that aims to streamline corporate travel processes while reducing costs. It stands out for its incentive-based approach, encouraging employees to make cost-effective travel choices. Itilite’s platform combines booking, expense management, and analytics in a straightforward interface, catering to businesses of various sizes.

Key features:

• Incentive engine that rewards employees for cost-effective travel

• AI-driven personalized travel recommendations

• Automated policy compliance with real-time enforcement

• Analytics dashboards for spend optimization and travel insights

Pros:

• Intuitive user interface with a quick booking process

• Strong focus on data analytics for informed decision-making

• Flexible policy management adaptable to different company structures

Cons:

• Fewer inventory choices compared with larger, established travel management companies

• Some users report a learning curve for administrative features

• Primarily focused on the Indian market, though expanding globally

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