Introduction
As businesses continue to ramp up travel in the post-COVID world, having the right travel management software to efficiently book trips, track expenses and get valuable insights has become more important than ever. However, with so many options in the market, it can be tricky to identify the software that best fits an organization’s specific requirements. This blog evaluates 15 top travel management platforms based on key criteria to help you make an informed decision.
Methods of Evaluation
The platforms are evaluated based on conventional criteria like features, compatibility, cost, security, and support. However, additional emphasis is given to modern metrics like number of backlinks, organic traffic and keyword search trends to gauge real-world popularity. Platforms that offer rich out-of-the-box functionality, integrations, analytics capabilities and meet compliance needs are ranked higher.
1. IBM Travel and Transportation Management
IBM Travel and Transportation Management provides an end-to-end solution for complex travel programs through a single integrated platform. The software offers automation of travel booking, expense management, approvals and bill pay processes.
Pros: Some key advantages of IBM Travel and Transportation Management include: – End-to-end solution for complex travel programs – Robust analytics and policy based optimization – Automated workflows for bookings and payments – Integrated booking engine and TMC capabilities
Cons: A potential disadvantage is that the software may be too complex for smaller organizations with less demanding travel programs.
Pricing: IBM Travel and Transportation Management pricing is not publicly disclosed but is typically sold through an annual subscription model on a per user basis depending on features and level of customization required.
Some key stats about IBM Travel and Transportation Management include: – Manages over $5 billion in annual travel spend – Supports over 350,000 travelers globally – Integrated with 70+ air, hotel and rail providers through the single booking engine
2. Workday Travel and Expenses
Workday Travel and Expenses is a cloud-based travel and expense management solution developed by Workday, an enterprise software company. As part of Workday’s integrated HCM platform, Workday Travel and Expenses aims to streamline the entire travel and expense management process.
Pros: Some key advantages of Workday Travel and Expenses include: Being part of an integrated Workday HCM platform allows for unified employee profiles, management, and reporting. The mobile app allows employees to easily book travel, take pictures of receipts, and submit expenses on the go. Workday provides powerful analytics and reporting on travel and expense spending. Automated workflows and approvals help ensure policy compliance.
Cons: A potential disadvantage is that as a larger, more full-featured HCM platform, Workday Travel and Expenses may provide more functionality than smaller businesses need and result in higher costs.
Pricing: Workday Travel and Expenses pricing is based on the number of users within an organizations. There are platform fees in addition to per-user fees. Pricing can range from around $100-$150 per user per month for smaller organizations up to discounted rates for very large enterprises.
Some key stats about Workday Travel and Expenses include: Used by over 3,500 organizations worldwide, processing over $40 billion in travel and expense transactions annually. Over 25 million users. Integrates with over 300 third-party travel, expense, and payment providers. Processes $2 billion in travel payments per year on average.
3. Ariba Travel and Expense
Ariba Travel and Expense is a travel and expense management software solution from SAP. It is designed to help organizations centralize and streamline their travel and expense processes.
Pros: Some key advantages of Ariba Travel and Expense include:
– Integrated with other SAP offerings for unified spend visibility and management
– Centralized tools for travel booking, approval workflows, and expense reporting
– Robust spend tracking features that can match vouchers to specific trips and projects
– Powerful analytics and reporting platform to analyze spend patterns
Cons: One potential disadvantages is that, as an integrated part of the larger SAP ecosystem, it may be more expensive than some standalone travel and expense management solutions.
Pricing: Ariba Travel and Expense pricing varies based on factors like number of users, customization needs, and desired support levels. For an initial quote, interested organizations can contact SAP sales representatives.
Some key stats about Ariba Travel and Expense include:
– Used by over 5,000 companies globally
– Manages over $100 billion in annual travel and expense spend
– Integrated with SAP solutions for ERP, procurement, and finance
4. SAP Concur
SAP Concur is one of the leading providers of travel management software. Founded in 1993, SAP Concur offers a comprehensive suite of travel and expense management solutions targeted towards both small and large businesses. Some key capabilities include expense management, travel booking and reservations, business spend analytics and more.
Pros: Some key advantages of SAP Concur include:
– Robust expense management and reporting capabilities
– Integrations with hundreds of travel suppliers for easy booking and reservations
– Advanced analytics and management dashboards for visibility into travel spend
– Mobile app for the complete travel lifecycle from booking to expense reporting
Cons: One potential disadvantage is the cost – SAP Concur pricing can be quite high for larger organizations with many users. However, it offers a full suite of advanced travel and expense management tools.
Pricing: SAP Concur pricing depends on the number of users and modules selected. It offers flexible subscription plans on an annual or monthly basis. Basic plans start at around $10 per user per month for core expense and invoice management. Premium and enterprise plans with additional capabilities like advanced analytics can range from $25-50+ per user per month.
Some key stats about SAP Concur include:
– Used by over 40,000 organizations worldwide
– Processes over $1 billion in expenses every month
– Integrates with over 450 airline, hotel and car rental booking suppliers
– Over 25 years of experience in travel and expense management
5. TravelPerk
TravelPerk is a travel management software that helps companies easily book and manage business travel. Founded in 2015 and headquartered in Barcelona, TravelPerk aims to make business travel simpler for both travelers and the companies supporting their trips. With TravelPerk, users have access to flights, hotels, rental cars and more from major suppliers through a single integrated platform.
Pros: Some key advantages of TravelPerk include: Easy to use interface for travelers, Comprehensive supplier network for booking all types of travel, Intuitive expense management and reporting, Artificial intelligence to optimize bookings.
Cons: A potential disadvantage is that the free version of TravelPerk has limited functionality. More advanced features require a paid corporate subscription.
Pricing: TravelPerk offers three main pricing plans: Individual Pricing which is free for individual travelers, Team Pricing starting at $10/traveler/month for up to 10 travelers, and Enterprise Pricing for larger companies with customized quotes.
Some key stats about TravelPerk include: Processes over $3 billion in travel spending annually, Serves over 2,500 companies globally including giant brands like GitHub, Vodafone and Bolt, Over 500,000 business travelers use the platform each month.
6. Apptio
Apptio is a travel management software developed by Apptio, an American software company headquartered in Bellevue, Washington. Apptio provides travel management software and services that help connect technology investments to business outcomes. Their travel management solution helps organizations centralize travel bookings, streamline expense reporting, and gain valuable insights into travel spend patterns.
Pros: Some key advantages of Apptio’s travel management software include:
– Central hub for travel bookings across all modes of transportation from a single portal
– Automated expense management workflows that simplify the expense submission and approval process
– Actionable insights on patterns in travel spending that can help optimize costs
– Integrations with major travel booking APIs like Expedia, AirBnB, and HotelTonight to access discounted rates
Cons: A potential disadvantage is that the software requires an investment to purchase licenses and ongoing subscription fees to use the full features and capabilities.
Pricing: Apptio offers flexible pricing plans for their travel management solution starting at $150 per user per month for their Standard plan. Additional premium features are available in their Professional and Premier tiers which can cost over $300 per user per month depending on the number of users and customizations required.
Some key stats about Apptio’s travel management software include:
– Used by over 900 enterprise organizations worldwide
– Integrations with 200+ software applications including Concur, Expensify, QuickBooks, and more
– Processes over $30 billion in annual technology spend for customers
7. Bonusly
Bonusly is an employee recognition and rewards platform that helps companies build positive company culture through peer-to-peer recognition. Founded in 2010 and headquartered in San Francisco, Bonusly utilizes gamification techniques and social recognition features to encourage employees to appreciate each other’s work.
Pros: Some key advantages of Bonusly include:
– Ready-to-use recognition program templates that are easy to customize.
– Social sharing features that encourage recognition and drive engagement.
– Powerful recognition analytics and reporting to measure program impact and success.
Cons: One potential disadvantage is that the free plan only allows for basic recognition tracking and limited admin controls. For larger organizations, an paid plan may be required to unlock advanced features.
Pricing: Bonusly offers both free and paid plans. The free plan provides basic recognition tracking and rewards delivery. Paid plans starting at $5/user per month provide advanced analytics, customization options, SSO integration and other enterprise-grade features.
Some key stats about Bonusly include:
– Used by over 2,000 companies worldwide including IBM, Intel, and GE Healthcare.
– Has delivered over 50 million rewards since launch.
– Has a 4.7/5 star rating on G2 with over 1,000 reviews.
8. Replicon
Replicon is a leading travel and time management software provider. Founded in 2001, Replicon provides award-winning time tracking and timesheet software used by over 1,000 organizations worldwide. Replicon helps businesses gain insights into project time & costs and optimize resource utilization through its comprehensive time and expense tracking solution.
Pros: Some key advantages of Replicon include:
– Time and expense tracking integrated solution
– Intuitive reports and analytics dashboards
– Flexible workflows and automation rules
– Advanced business intelligence capabilities
Cons: One potential disadvantage is the steep learning curve required to fully leverage all of Replicon’s powerful reporting and analytics features.
Pricing: Replicon offers flexible pricing plans tailored to businesses of all sizes. Basic plans start from $10 per user per month for time-only tracking. Feature-rich professional services automation packages begin at $25 per user per month. Custom enterprise pricing is also available.
Some key stats about Replicon include:
– Used by over 1,000 organizations globally
– Processes over $100 billion in annual spend
– Supports over 500,000 users
– 20 years of industry experience providing time and expense management solutions
9. Pleo
Pleo is a leading travel management and expense solution for businesses. Founded in 2013, Pleo provides a smart company card and app designed to make managing business spends and expenses simple.
Pros: Some of the key advantages of Pleo include:
– Easy expense management via mobile card and app
– Automated receipt capture and coding for expenses
– Flexible invoicing and vendor payments
– Integrations with major ERP systems like Xero and QuickBooks
Cons: One potential disadvantage is that the mobile-first approach may not suit organizations where a significant portion of expenses are incurred without receipts.
Pricing: Pleo offers three pricing tiers:
– Individual plan: $9/user/month
– Team plan: $7.50/user/month (for 5+ users)
– Enterprise plan: Customized pricing
Some key stats about Pleo include:
– Used by over 8,000 companies worldwide
– Processes over $2 billion in transactions annually
– Has 150 employees
10. Basware
Basware is a global leader in providing accounts payable automation and procure-to-pay solutions. Founded in 1992 and headquartered in Helsinki, Finland, Basware has over 3,000 employees located in offices across Europe, Asia Pacific, and the Americas. Basware helps over 700,000 businesses, government entities and educational institutions in more than 100 countries reduce costs, manage spend, and gain visibility through a suite of easy-to-use purchase-to-pay and e-invoicing solutions.
Pros: Some of the key advantages of Basware’s travel management software include:
– Automated invoice processing and approval to reduce manual work
– Flexible purchase-to-pay and procure-to-pay workflows that can be customized
– Integrations with major accounting and ERP systems for seamless data exchange
– Robust spend analytics and benchmarking capabilities to gain insights
Cons: One potential disadvantage is that Basware is an established vendor with an enterprise-grade solution that may have a higher price point compared to some other options.
Pricing: Basware offers flexible pricing based on the number of users, transactions processed, and specific features/modules needed. Pricing is available upon request for a customized quote.
Some key stats about Basware include:
– Over 30 years of experience in AP automation
– Supports over 20 languages and used in over 100 countries
– Processes over 1 billion transactions annually
– Integrates with over 200 ERP systems including SAP, Oracle, Microsoft Dynamics, and Sage
11. FCM
FCM is a full-service travel management company that provides corporate travel management solutions for businesses of all sizes. Founded in 1994, FCM serves over 5,000 clients across multiple industries with offices worldwide. Their travel platform offers clients a centralized point of booking, reporting, and management for all business travel needs.
Pros: Some key advantages of FCM’s travel management platform include:
– Full-service travel management solution with in-house travel consultants
– Global reach and access to top travel suppliers through their technology platform
– Detailed program analytics and customized reporting on travel spending and compliance
– Mobile app for easy booking and expense submission on the go
Cons: One potential disadvantage is that FCM requires a monthly subscription fee for use of their platform and services compared to other less robust DIY options.
Pricing: FCM offers flexible monthly subscription plans starting at $49/user per month for basic services up to $79/user per month for premium all-inclusive services. Volume-based transaction fees may also apply depending on the plan. FCM provides a free quote and consultation to evaluate the best plan for each client’s specific travel program and budgets.
Some key stats about FCM include:
– Serves over 5,000 clients globally
– Provides access to 450,000 hotel properties and 5,000 rental car agencies worldwide
– Manages over $3 billion in annual travel spending
– Over 25 years of experience in the travel industry
12. TripActions
TripActions is a leading corporate travel management solution. Founded in 2013 and based in San Francisco, TripActions serves thousands of global customers and processes billions of dollars in annual travel spend. Their software provides an end-to-end platform for business travel booking, expense reporting, and spend management.
Pros: Some key advantages of TripActions include:
-End-to-end travel management platform for booking flights, hotels, and rental cars along with integrated expense reporting
-Deep integrations with major travel suppliers like Concur for a seamless experience
-Mobile app for booking and managing travel on the go
-Powerful analytics and reporting on travel spend, supplier performance, and compliance
Cons: One potential disadvantage is that the platform may require more configuration and set up for very large enterprises with complex travel policies and programs.
Pricing: TripActions pricing is not publicly listed but is typically sold as a subscription based on monthly travel spend and number of users. Contact sales for a custom quote.
Some key stats about TripActions include:
-Processes over $15 billion in annual travel spend
-Serves over 6,000 customers globally across all industries
-Has booked over 20 million trips on its platform
13. Certify
Certify is a travel and expense management platform that streamlines the entire spend workflow. Founded in 2001, Certify helps organizations of all sizes simplify expenses, reduce costs, and enable compliant travel programs. With Certify, travel managers and employees can book trips, submit receipts, create reports, and get reimbursed through a single integrated platform.
Pros: Some key advantages of Certify include:
– Automated multi-currency expense reporting
– Flexible policy management and compliance tools
– Robust analytics and management dashboard
– Customizable solution that can be tailored for an organization’s specific business needs and workflows
Cons: One potential disadvantage is that the comprehensive set of features comes at a higher price point compared to some other spend management solutions. However, Certify aims to offer strong value given the breadth of capabilities offered.
Pricing: Certify offers variable annual pricing based on the number of users and level of support required. Contact a sales representative for a custom quote.
Some key stats about Certify include:
– Used by over 5,000 organizations globally
– Processes over $10 billion in annual spend
– Supports 45+ currencies out of the box
– 97% customer retention rate
– Named a leader in the latest Gartner Magic Quadrant for Corporate Travel Management report
14. Chrome River
Chrome River is a leading provider of cloud-based travel and expense management software. Founded in 2000, they have helped over 12,000 organizations in 150 countries streamline their travel and expense processes. Their flagship product is a full-featured SaaS platform that allows users to book travel, submit expenses, get receipts scanned automatically and manage the entire approval workflow online.
Pros: Some of the key advantages of Chrome River software include:
– Flexible expense management tailored for different industries and compliance needs
– Automated receipt capture that scans and extracts data without users having to manually enter details
– Easy submission process that allows attaching photos of receipts on mobile
– Detailed invoicing and cost tracking capabilities with flexible reporting
– Fast implementations typically done within 6 weeks along with seamless ERP integrations
Cons: While very robust, one potential disadvantage is the upfront cost may be higher than other options. However, Chrome River claims this is offset by lower ongoing support costs and higher adoption rates.
Pricing: Chrome River offers flexible pricing based on the number of users and features required. On average, customers can expect the following:
– Basic/Starter Package: $5-10/user/month for core T&E features
– Professional Package: $15-25/user/month for advanced workflows and approvals
– Enterprise Package: Customized pricing for large global deployments with additional services and support
Some key stats about Chrome River include:
– Processes over $100 billion in annual travel and expenses
– Supports over 1.2 million users globally
– Integrates with over 300 ERP/Financial systems including NetSuite, SAP Concur, Oracle, etc.
– Named a leader in the latest Gartner report on corporate travel expense management solutions
15. Rydoo
Rydoo is an all-in-one travel and expense management software launched in 2012. Rydoo aims to eliminate outdated and inefficient expense reporting processes with an automated and frictionless approach to managing business spend. The platform enables companies to book travel, capture receipts, submit and approve expenses, all through a single integrated platform.
Pros: Key advantages of Rydoo include:
– Mobile-first intuitive design for on-the-go access
– Automated receipt recognition and coding saves time spent on data entry
– Flexible invoicing and payments capabilities
– Integrated travel booking and expense reporting streamlines the travel and spend lifecycle
Cons: A potential disadvantage is that the automated nature may not suit all customers who prefer more manual expense reporting processes.
Pricing: Rydoo offers pricing plans tailored for teams of all sizes. Plans start from $10 per user per month for basic expense management and scale up to $25 per user per month for premium all-in-one travel and expense capabilities.
Some key stats about Rydoo include:
– Used by over 5,000 companies worldwide
– Processes over $5 billion in annual spend
– Automatic receipt recognition using AI and computer vision
– Available in 11 languages
Conclusion
Choosing the right travel management solution can help streamline operations, optimize spending and drive cost savings. While none may be perfect for all scenarios, this analysis provides valuable insights into how the top 15 platforms stack up against crucial factors. Identifying key non-negotiables will help zero in on the software best matching your organization’s unique travel management requirements.