From managing employees' trips to reimbursing employees and ensuring travel compliance, it all gets complicated at some point which is why manual travel management processes don't cut it.
Many businesses are now looking for ways to track and manage their expenses easily and more efficiently. This is where business travel expenses trackers come in.
A business travel expenses tracker simplifies your corporate travel activities by automating your process, making trips easier and more rewarding for you and your employees.
This article discusses five business travel expenses tracker tools you can use to automate tracking your business travel expenses.
5 SaaS tools to automate your travel expenses
Your corporate travel management can become more efficient when you use the right tools. We’ve listed below the five best SaaS tools you can use to manage your business travel expenses successfully.
TravelPerk is an all-in-one SaaS tool that manages your business travel expenses effectively allowing you to book and manage your trips seamlessly.
One unique function of the TravelPerk tracker is its risk management feature. It supplies you with the latest updates on possible travel risks right before you begin your trip. This allows you to mitigate or avert any risk beforehand.
You could also cancel trips to avoid mistakes that could put you, your employees or your business at risk.
No matter where you are, you can manage your employees' trips from an intuitive dashboard. You also receive real-time updates and reports on how much employees spend on their trips and gain full control of your travel expenses.
It allows you to set up your travel policies right where you are.
TravelPerk saves you and your employees the time and stress of sending emails back and forth because it allows you to make decisions based on the information from the dashboard. You also receive real-time feedback on your employees' business trips.
Furthermore, you won't also have to go through multiple invoices to track your employees' travel expenses unless you want to; you can acquire one invoice for all their expenses.
TravelPerk is best for businesses looking for an uncomplicated way to track their travel expenses. It’s easy to use and requires a slight learning curve. You can explore and maximize all its features seamlessly, thereby allowing you to manage your business's travel expenses easily.
Booking.com is a comprehensive business travel tracking platform for efficient corporate business travel management. You can book all trips at once, including accommodation and transportation. It also offers a fast booking process because it is an intuitive tool that allows you to perform takes quickly.
It comes with a wide selection of safety measures to keep your trips secure. It also gives you updates on your employees' location, and helps you inspect their environment to ensure their safety.
Booking.com lets you cut down on travel expenses and save more on trips. It keeps you updated on your travel expenses, so you know how much you've spent and how much is left from your budget.
This allows you to make smart financial decisions by reducing your expenses, so you don't spend above your budget.
It offers flexible features that let you make changes as you like. You can make changes, edit and navigate through each feature efficiently and without complications, making it a fast tool to rely on for last-minute business trips.
You can use Booking.com anywhere you are and on any device. Whether you’re traveling across several countries or tracking your employees' trips from your office, the Booking.com business travel expenses tracker has you covered.
You won't have to worry about what your employees are doing on their trips or wonder how much they spend because Booking.com gives you real-time reports wherever you are.
So, if you’re looking for a business expenses tracker that gives the best insights on travel expenses, you should consider using Booking.com.
3. Concur Travel
Concur Travel is a travel management tool that automates your travel activities to make trips easier and more productive for you and your employees.
Your employee can book trips independently, following your company's travel policies. They can book and change reservations and give reports on their travel updates. Concur Travel gives your employees the freedom to make travel decisions best suited for them while staying on track with your company's policies and budget.
It also gives you the control you need by updating you on your employees' business trips every step of the way. With this tool, you can also get real data on all your employees' travel expenses from one place, and monitor your employees' activities to know if they’re on track with their responsibilities.
Concur Travel comes with a wide selection of features to enhance your travel management activities.
For example, there's Concur Expense that puts you in charge of your spending. It helps you review and approve multiple expenses, capture receipts, enforce and change your company's policy to manage business trips better on the go.
Concur Travel also comes with the Expenselt feature that allows your employees to take pictures of their receipts and send them to Concur Expense to categorize expense features. This helps you boycott paper receipts, saving time and speeding up your travel management process.
Neo is an online travel management tool that provides effective tracking of travel expenses. It offers an easy booking process and lets you manage your expenses from start to finish more efficiently.
It provides a comprehensive place for you and your employees to make all financial traveling decisions, including bookings, accessing expense policies and monitoring travel expenses.
By tracking travel expenses effectively, you can make improved financial decisions on every trip you and your employees make.
You can also predict trip expenses and provide adequate safety for your employees through real-time location updates on your employees.
On top of this, your employees can provide a report on their expenses by simply taking a capture of their receipts. It also lets you collaborate effectively with other teams in your organization to make improved decisions on business trips.
RouteSpring is a travel management tool that lets you manage online bookings for flights, food, accommodation and lots more. It's an all-in-one tool that allows you to manage different expenses from one platform.
It helps you create and change travel policies, approve travel requests and manage billings from a unified place. Your employees can report their itineraries and capture their receipts to account for their expenses to give you a comprehensive view of their travel finances.
You can manage cancellations and communicate effectively with travel agencies using the RouteSpring travel management tool. It requires little onboarding experience and offers an active customer support team that helps you manage last-minute bookings.
RouteSpring is great for businesses that want to manage multiple expenses effectively from one place.
Benefits of using a travel management tool
Managing your travel expenses using travel management tools comes with immense benefits that help to facilitate you and your employees' experiences for every business trip:
1. Employees can report their travel expenses on the go
Travel management tools allow employees to give you updates on their expenses while they’re on the trip. This means you won't have to wait for your employees to report their expenses physically because they can report their expenses by taking pictures of their receipts.
2. It eliminates mistakes
Using a travel management tool means you are receiving accurate data on travel expenses. They help you avoid the inadequacies that come with manual documentation by automating the reporting process. This way, you can make the right financial decisions on business trips.
3. It allows you to integrate a business travel policy
Travel management tools allow you to integrate your business travel policy to ensure compliance among your employees. While your employees may forget your company's travel policy due to different activities associated with a trip, a travel management tool serves as a constant reminder to keep them on track.
They also let you change your travel policy to meet your current financial need. And rather than communication through emails, you can keep your employees updated with a travel management tool.
4. It lets you manage your employees' expenses anywhere
Travel management tools help you manage your employees' travel expenses at home, at work or on the go. You can approve business trips, review and change your travel policies and view receipts wherever you are.
This gives you control of your travel finances to make timely and informed decisions.
5. It prevents you from losing receipts
Travel management tools digitize your expense tracking system such that paper receipts are almost unnecessary. Your employees can report their expenses as they spend by scanning their receipts using a travel management tool.
This means they won't be burdened with storing paper receipts for every expense made. They can also avoid the consequences that come with missing receipts because all expenses are stored on the cloud.