10 Best Business Travel and Expense Management Software

Did you know, as per the report of Emburse Certify, an average US business traveler spends approximately $949 on their business trip including all accommodation, airfare and other business expenses? This means that spending on business travel is an integral part of the business.

The return on investment in business travel is approximately $2.90 for every dollar spent on travel, so businesses should plan for business travel for their employees. So keeping track of travel expenses is an important aspect to organize everything and run the business efficiently.

Travel Expense Tracking Software is dedicated to serving you in this regard and helping you to manage your travel expenses. Here we have provided a list of the best travel expense-tracking software so that you do not need to search for software.

What Is Travel Expense Tracking Software?
List of Top Travel Expense Tracking Software
TripActions
TravelBank
TravelPerk
Zoho expense
Egencia
Coupa
SAP Concur
Expensify
Chromeriver
Emburse Certify

What Is Travel Expense Tracking Software?

Companies spend heavily on business travel, so in order to keep a track record of every penny spent on travel, businesses use travel expense tracking software. The software is well-equipped with features that help in organizing, monitoring and analyzing travel expenses.

Businesses of all types can track their expenses and align employee travel with their corporate travel policy to ensure compliance. You get a detailed idea of ​​how much you have spent on which employee and plan appropriately for future travel taking the past travel experience into perspective.

So without further delay, let's dive into the list of top travel expense tracking software.

List of Top Travel Expense Tracking Software

The followings are the best Travel and Expense Management Software

TripActions

TripActions is a powerful and robust travel and expense management software that is trusted by more than 8000 companies worldwide. Launched in the year 2015, TripActions is dedicated to providing the best user experience when it comes to managing business trips.

It's the only platform you need to manage physical and virtual cards for corporate travel expenses, and hotel and flight bookings with exclusive deals, cashback and rewards. Corporate travel policy plays a vital role in a business, this software provides real-time reports to ensure best-in-class business and policy decisions.

The next-generation online booking tool of TripActions can save a lot of time in manual booking here and there, it integrates everything in an organized manner, and you can also access it through their mobile app. The enhanced user experience to book tickets and manage expenses in one place is incredible. It also rewards your employee in the form of Amazon Rewards if they save the company money on hotel bookings.

Features of TripActions

• Customizable and preset travel policies
• Robust travel reporting
• Travel booking and management with ease
• Physical and virtual corporate cards
• Expense management in automation
• Next Generation online booking tool
• Rewards and cashback while booking
• 24/7 travel agent support

Pros:

• Ease of use
• Great support
• Rewards while booking flights and hotels
• Competitive flight and hotel rates

Cons:

• Not connected with all airlines and hotels
• Android app stucks sometimes
• Not immediate rebooking when the flight gets cancelled

Pricing:

• Contact the sales team for pricing

TravelBank

Improve the visibility of travel expenses and manage them efficiently with TravelBank. It is an all-in-one solution for managing your expenses, booking, and cards. More than 50,000 companies are already using TravelBank to effectively manage their travel affairs.

Business travel becomes seamless and hassle-free with features like expense reports, multi-level approval, online booking for lodging and flights, integration, and much more. For early-stage companies and individuals, it offers an expense-free plan in which features like unlimited receipt scans and unlimited expense reports are included for free.

The mobile-centric approach of this software provides the best-in-class mobile app to manage everything from the convenience of your smartphone. The advanced UI acts as a cherry on the cake that makes the app easy to use. It also offers a powerful desktop app to use in the office and improve efficiency.

Features of TravelBank

• Brex cardholders will get an exclusive of 4x Brex points on travel spend
• Discounted corporate rates on flights and hotel booking
• Real-time reporting
• Customizable travel policy
• Incentives in the form of rewards
• Travel tracker duty-of-care dashboard

Pros:

• Rewards employees for saving the company's money
• Easy-to-use interface
• Travel budgeting

Cons:

• A free trial is not available
• Confusing reports and expense tab
• The report scanning tool is not up to the mark

Pricing

• Travel: $15 /user/month
• Expense: $8 /user/month
• All-in-one: Custom pricing

TravelPerk

TravelPerk is an all-in-one software solution to track the expenses of business trips along with all the necessary features like booking hotels and flights, reporting, compliance, and much more. Over 5000 companies worldwide are using TravelPerk to manage their business trips and increase their productivity with robust reporting and analytics.

FlexiPerk is the most unique feature of TravelPerk that empowers you to book flights, hotel, car, and train anytime and you can cancel your booking in a single click, no question asked. You'll get your refund in a single click. This service is currently available in the US, UK, Switzerland, and EU.

Easy to create and customizable Simple Travel Policy ensures you stay within spending limits. This policy will help travelers to stay within their budget and enable them to manage their travel.

Features of TravelPerk

• Group booking facility for 9 or more people
• Vast Inventory
• Flexible travel policy
• Easy VAT recovery
• GreenPerk feature to offset spending

Pros:

• Centralized invoicing
• Instant set up
• A free trial is available

Cons:

• Comparatively High pricing
• Don't have the option to view flights based on your budget
• Inefficient customer support

Pricing:

• Starter: First 5 booking free then 5%/booking
• Premium: $99/month + 3%/booking
• Pro: $299/month + 3%/booking
• Custom: Contact sales for price

Zoho expense

Zoho is a well-known and trusted Saas provider that offers varieties of cloud-based services to help businesses run their business smoothly and efficiently. Zoho expense is another great software of Zoho that provides travel and expense management features. Trusted by thousands of companies like Zomato, Makemytrip, and PUMA, it is available in more than 150 countries worldwide.

Empower your employee to add receipts and convert them into expenses seamlessly. You can set up approval for ticket costs and trips to manage your corporate travel more effectively. All the reports are stored in the cloud so that you do need not to worry about any paper in the future.

Apart from all the basic features of travel management software, you can create a user and assign roles to them. You can also restrict access to employees and set daily, monthly and annual spending limits.

Features of Zoho expense

• Corporate card reconciliation
• Expense report management and automation
• Mileage tracking
• Simplified and custom approval
• Advanced customization option

Pros:

• Seamless integration with Zoho suite
• Mobile app to manage travel on the go
• Interactive UI
• Multi-factor authentication and single sign-on

Cons:

• The mobile app crash sometime
• Timely response from support is missing

Pricing

• Free trial
• Standard: Rs 99/user/month
• Premium: Rs 199/user/month
• Enterprise: Rs 299/user/month

Egencia

Egencia has served more than 9000 companies across 60 countries and was launched in 2002. Having a great experience in the field, Egencia is committed to modernizing travel and expense management. End-to-end corporate travel planning becomes seamless and effortless with the powerful and robust software of Egencia.

Simplifying the task of corporate travel planning is the priority of Egencia, and ensuring that it provides an easy-to-use user interface for booking, approving travel requests and modifying travel. Your employee's well-being and safety are a priority, and Egencia Travel Advisor ensures this with travel alerts and advice.

It optimizes the travel experience of your employees through the program like Egencia top 100 corporate hotels. This program shortlists the hotels that are committed to putting the customer experience first.

Features of Egencia

• Travel management consulting
• Egencia analytics studio
• Benchmarking dashboard to compare peers
• Travel policy management tool
• Geographic risk level indicators

Pros:

• Automated reporting
• Robust mobile app
• Meeting and event planning experts

Cons:

• customer support is average
• Not intuitive interface
• A free trial is not available

Pricing:

• Request custom price quotes

Coupa

Coupa launched its end-to-end travel and expense management software in 2022 to help businesses take care of their Corporate travel more efficiently. It is new to the field of corporate planning but has significant experience in providing similar services like contract management, supplier management, invoicing, treasury management, and similar services.

From planning a business trip to booking flights and hotels to providing traveler support, expense reports and compliance, it caters for everything you want in a travel tracking software.

Enhanced visibility in expense insights gives you a clear picture of all your travel spending in one place, using this you become capable to gauge your spending. The advanced trip price prediction of the Coupa is capable enough to predict the spending that may occur during a future trip so that you can prepare for it and stay within your budget.

Features of Coupa

• Automated expense reporting
• Intelligent audit algorithm
• Coupa's trip price predictions
• Valuable Insights from Community.ai
• Smart itineraries

Pros:

• AI fraud detection
• Real-time travel insights
• IOS and Android mobile app

Cons:

• Price is not disclosed
• Lack of customization
• Not interactive and modern dashboard

Pricing:

• Contact sales

SAP Concur

SAP Concur is another great software to consider for your business travel and expense management. It is declared as a leader in the IDC market scape report for travel and expense management. Through this, you take control of all your spending that happens on a business trip. Duty of care is a legal obligation for every business to ensure the safety of their employees, so this software ensures a safe travel experience and helps you stay compliant with the laws.

A well-drafted travel policy can save a huge chunk of your money by giving clear information on which expense is reimbursable and which is not. SAP Concur will help you to prepare the best travel policy that you can customize at any time.
Even when you book your ticket through a channel other than SAP Concur, it captures the details and helps you manage each and every expense. It also provides you with consolidated reports of each and every expense in a single dashboard.

Features of SAP Concur

• Triplink to capture the booking made outside of SAP Concur
• Easy travel compliance for employees
• Employees are empowered to book their ticket
• Speed up the request and approval process with Concur request
• ExpenseIT to simplify expense reporting

Pros:

• Availability of iOS and Android app
• Easy reimbursement
• Slack integration

Cons:

• Old and messy interface
• Price is not disclosed
• Cumbersome to audit expenses

Pricing:

• Contact sales

Expensify

Expensify is the deserving candidate in our list of top travel tracking software because of its amazing features and huge customer base. Launched in the year 2008, it has served more than 12 million people worldwide. It is one of the companies in the world that has the highest revenue per employee.

Advanced features like Smart Scan have the ability to scan all receipts, streamlining the approval process and speeding up the reimbursement process. Since everything is in one streamlined process, it can integrate all of your business travel expenses into your favorite accounting software.

Apart from all the basic features like expense management, bill payments, invoicing and travel management, it also offers the Expensify card which earns you up to 4% rewards on every purchase. 10% of the revenue earned on each Expensify card will be donated to Expensify's charitable organization known as Expensify.org.

Features of Expensify

• Expensify Card
• Smart scan
• Notification alert and rebooking of other flights when the flight got cancelled
• Easy booking through chat with concierge
• Streamlined travel compliance
• Corporate card reconciliation
• Multiple approvers
• Advanced tax tracking

Pros:

• PCI-compliant security
• Delegated access
• Reasonable pricing
• User-friendly mobile app

Cons:

• No option to filter the expense list
• Difficult to add approves
• Smart scan fails sometimes

Pricing:

• Free: $0
• Collect: $5/user/month
• Control: $9/user/month

Chromeriver

Chomeriver is an end-to-end travel and expense management software that mitigates the hassle of managing corporate travel. It helps organizations automate and streamline their document-related processes, such as document creation, review, and approval. The platform also includes features for collaboration, document storage and management, and integration with other business systems and tools.

The ACFE survey estimates that businesses lose 5% of revenue each year due to fraud and out-of-policy spending. Chromeriver automates compliance and expense management to save time and detect such frauds.

Features of Chromeriver

• Improved budgeting and forecasting
• Easy integration with any travel management company
• Real-time reporting of expenses
• Prioritized safety and awareness
• Seamless payment data tracking
• Availability of reimbursement card

Pros:

• Show progress of reimbursement
• Mileage tracking
• OCR capability
• Duty of care compliance

Cons:

• Pricing is not disclosed
• Not wholly dedicated to travel management
• Difficult to navigate UI

Pricing:

• Contact the support team for pricing

Emburse Certify

Emburse Certify is a software solution that makes travel and expense management, report and analytics, and reimbursement easy and efficient. Having a user base of more than 12 million and a presence in more than 120 countries, this software is trusted and offers all the necessary features to track travel expenses.

Empower your employee to travel without the headache of thinking much about trip planning because this software handles everything from start to end with full flexibility. You'll find the best corporate rates for travel booking for flights, rail, hotel, and car rental.

Contact the support team anytime via chat, phone, or email and get your query solved immediately. With Certify, your employees are always in the compliance area of your corporate policy. You have full flexibility to modify the policy at any time and change will reflect in real-time.

Features of Emburse Certify

• Data autofill and report scanning
• Automated policy enforcement
• Full reporting suite with analytics
• Multiple user roles
• Control of approval routing‌‌

Pros:

• Available in 140+ currencies
• Credit card integration
• IOS and Android mobile app

Cons:

• A free trial is not available
• A lot of back and forth creates inconvenience

Pricing:

• Certify now: $12 /user/month
• Professional and Enterprise: Contact support

Conclusion

From planning a corporate trip to completing the entire trip, everything needs to be reported perfectly without missing anything. The above list of software helps in everything from travel booking to managing expenses easily, so choose the best one from the list and save a lot of time and resources in tracking travel expenses.

FAQs

What is Travel and Expense management software?

Travel and expense management or tracking software allows and provides users with a platform for planning, purchasing, and recording travel expenses. It also ensures employee work-related travel adheres to company policy.

How do you manage travel expenses?

Avoiding business class is one best practice that goes without saying, but here are some other ways you can reduce your air travel expenses:

• Book tickets in advance
• Don't stick to one favourite booking website
• Partnering with airlines
• Reduce costs by scheduling meetings well
• Use Travel Expense Management software for tracking expenses

How to choose the best  Travel Expense Tracking Software?

You should consider several factors before choosing the best travel expense tracking software for your business such as whether your employee is traveling more on roads or they travel more by air, for this make a list of priorities and features that you need in your software.

What are the best Travel Expense Tracking Software?

The following are the best travel and expense management software

• TripActions
• TravelBank
• TravelPerk
• Zoho expense
• Zoho expense
• Coupa
• SAP Concur
• Expensify
• Chromeriver
• Emburse Certify