Travel Management Software: 5 Best Solutions for 2024
In a world that's constantly on the move, the demand for efficient and effective travel management has never been greater. As we step into the future of travel, businesses need to adapt to new trends and streamline their travel management processes efficiently. With the global travel management software market on a steadfast rise, it is evident that technology is driving significant changes. The travel management system market is projected to reach $5.9 billion in 2028 compared to a modest $2.3 billion in 2021
In this blog post, we will delve into the top five travel management software solutions for 2023. We will provide a comprehensive overview of their capabilities and how they can transform the way you manage corporate travel.
What Is Travel Management Software and Who Is It Useful for?
Travel Management Software (TMS) is a digital tool designed to streamline, organize, and optimize your travel-related tasks. It serves as a one-stop platform for all your travel-related needs. From booking flights and hotels to managing itineraries and expenses, it covers it all.
Who is it useful for?
- Business travelers. TMS is a game-changer for individuals on corporate journeys. Corporate travel management software allows them to book flights, hotels, and rental cars while adhering to company policies. It ensures they stay within budget and provides detailed reports for expense reimbursement.
- Travel managers. For those responsible for coordinating travel plans within a company, TMS is a lifesaver. It helps in optimizing budgets, tracking employee itineraries, and ensuring compliance with travel policies.
- Travel agencies. Agencies can enhance their services by using TMS to efficiently manage bookings, client itineraries, and invoices.
- Event planners. Those organizing conferences, meetings, or special events can use travel management software to coordinate attendees' travel and accommodation seamlessly. It saves time and reduces the stress of logistics.
- Frequent travelers. Individuals who fly frequently, be it for work or leisure, can keep all their travel information in one place.
- Small and medium-sized enterprises. SMEs can cut expenses and increase efficiency. It enables them to negotiate deals with preferred airlines and hotels and keeps expenses in check.
What Are the Benefits of Travel Management Solutions?
TMS offers a range of benefits that go beyond mere convenience. Let's take a closer look at how they can make a significant impact on your business.
- Cost savings. TMS helps in optimizing expenses. They allow you to compare prices, find the best deals, and avoid unnecessary expenses.
- Efficiency. Travel processes are simplified with these solutions. A flight booking, hotel reservation, or rental car becomes a breeze. It saves time and minimizes the administrative burden.
- Policy compliance. Travel management solutions ensure that your employees adhere to the company's policies. This keeps expenses in check and avoids unnecessary disputes.
- Real-time updates. They provide up-to-the-minute information on travel plans, weather, and potential disruptions. Thus, it is easier to adapt to changes.
- Risk management. TMSs help keep your employees safe during their journeys. They can provide real-time updates on potential risks or emergencies and assist in emergencies.
- Centralized data. All travel information is stored in one place. It is easier to track and manage expenses, report on spending, and analyze travel data.
- Data analytics. Detailed reporting and analytics provide valuable insights into travel expenses, patterns, and trends. This data helps in optimizing budgets.
- Vendor relationships. These solutions often come with preferred vendor partnerships, ensuring you get the best deals and service quality.
5 Best Travel Management Software
It is time to finally see what the best travel management software is on the market today.
Travel, corporate cards, and expense management are all combined into one convenient package with Navan. Navan's ability to centralize data is a huge boon for businesses. With all information in one place, tracking expenses, monitoring policy compliance, and generating detailed reports becomes effortless. This centralized approach helps optimize budgets and ensure employees comply with company policies.
- Online booking. Booking tours for up to 50 employees is a seamless experience with Navan. You can compare flights, hotels, and rental cars all in one place, ensuring that you find the best deals. The platform also provides real-time updates and alerts.
- Budget control. Navan provides powerful budget controls for setting spending limits and ensuring compliance.
- 24/7 support. Navan's customer support is second to none. They provide 24/7 assistance, helping you with any travel-related issues or questions, no matter the time zone. You can trust that your team will have the support they need whenever they're on the road.
TravelPerk is another excellent choice for businesses looking to simplify their travel management. This all-in-one platform ensures the well-being of your travelers while maintaining control of your company.
The platform caters to the needs of individual travelers too. They can access their itineraries, get real-time updates, and view booking details conveniently through the mobile app, making their journey smoother and more enjoyable.
- Endless travel options. The software connects you to a large list of airlines, hotels, and car rental agencies, offering a wide range of choices that suit your preferences and budget. You can compare options side by side to find the best deals, ensuring you get the most value for your travel expenses. With TravelPerk, you can save up to 30% on your expenses, which is music to any budget-conscious traveler's ears.
- Cost efficiency. The money-saving features don't stop there. It gives you the ability to create travel policies, reclaim VAT, manage invoices, and track your expenses effortlessly.
- Exceptional customer care. The company takes customer service seriously. They have the #1 rated 7-star Customer Care team. They respond in a speedy 15 seconds, ensuring you have the support you need throughout your journey.
SalesTrip is a convenient booking system integrated with Salesforce. It helps you organize your itinerary, flights, trains, and accommodations in one place. With a few clicks, you can book your entire journey and save valuable time.
- Expense management. SalesTrip automatically handles your expenses. It tracks your spending and matches it to the purpose of your trip. This real-time analysis can show how travel benefits your company's growth.
- Customer account tracking. You can easily assign trips to different customer accounts in Salesforce. This makes it simple to manage your travel at the CRM level.
- OCR receipt scanning. Capture your receipts and submit expense claims while on the go. This feature is very handy for keeping track of your expenses.
- Non-employee expenses. If you have temporary workers or non-employees, they can also submit their expenses quickly and easily.
SAP Concur is a well-established name in the world of travel management. This software simplifies the entire travel process, from booking and expense tracking to compliance and reporting.
- Global expertise. With its global expertise, SAP Concur is well-equipped to cater to businesses around the world. It understands the intricacies of managing spending on a global scale.
- AI-powered audit. SAP Concur uses AI to audit 100% of transactions. The feature increases accuracy and reduces error risk.
- Invoice approval. SAP Concur Invoice streamlines the invoice approval process. This way, it is easy for businesses to pay their bills on time and avoid late fees. It also integrates with SAP Concur Expense to provide a complete view of spending.
Happay is a unique and innovative self-booking corporate travel platform. It allows employees to take charge of their travel needs within a convenient app. Booking flights, hotels, and cabs has never been easier.
- Quick approvals. Happay makes it fast and easy for employees and managers to get travel requests approved. No need to worry about delays or complications.
- EPIC credit cards. They allow for seamless payments for various expenses. This covers reservations, utility bills, web hosting, and SaaS subscriptions. These credit cards come with zero collateral credit lines. It ensures complete control and offers incredible rewards.
- Prepaid cards. These cards make sensible substitutes for credit cards, corporate debit cards, and cash advances. They give on-the-go approvals, tracking of expenses, instant funding, and control over spending. It is a convenient option for managing corporate expenses.
At Stfalcon, we are excited to share our journey in crafting TMS that simplifies your tourism experience. One of the cases that we are particularly proud of is our work with MeinFernbus. It is the largest passenger transportation company in Germany.
MeinFernbus was looking for a way to add a new sales channel alongside the web interface. We collaborated closely with the MeinFernbus team to craft the initial version of the app. We were focusing on Android for cost efficiency.
In the development process, we embraced native technology. Our team utilized Android SDK, Java, and Android Studio to ensure the best UX. The app also allows users to access station information, Google maps, and even open their preferred navigator. Plus, we integrated German local payment systems and the PayPal SDK for convenient transactions.
The result? An intuitive, three-section app that requires no user registration and offers straightforward usability.
Stfalcon's approach enabled MeinFernbus to maximize its sales channels. We provided a simple yet interactive travel management solution for their users.
How to develop travel management software?
Start by identifying your objectives. Determine the problems you want to solve and the features you need. You should understand your target audience and what they need from your solution. Research the competition and identify gaps.
Create a detailed plan, outlining the software's architecture, functionalities, and a timeline for development. Then select the programming languages, databases, and frameworks that suit your project's needs.
The next steps are designing the user interface and development. Write the code, focusing on security, scalability, and performance. Test each component thoroughly. It is important to integrate your software with agencies, payment gateways, and other relevant systems.
Ensure data protection through encryption, secure logins, and regular security updates. Provide training materials and support for users to maximize the software's effectiveness.
Remember, developing travel management software is a complex task that requires technical expertise and a deep understanding of the tourism industry. It's often beneficial to work with experienced developers to ensure a successful solution.
How travel management software can improve my business?
Firstly, it streamlines the booking process, making it more efficient and saving time and money. Secondly, it helps you keep track of expenses. It ensures you stay within your budget.
Additionally, travel business management software provides access to valuable data and reporting. As a result, it is easier to make informed decisions about your travel expenses and patterns. It can also help with duty of care, ensuring the safety and well-being of your employees during their journeys.
In conclusion, TMS simplifies travel planning, saves money, and provides essential insights, ultimately improving your business's efficiency and bottom line.
What features should you look at in software for travel management?
In a recent survey by Amadeus, insights from frequent business travelers shed light on the most sought-after features in TMS. These globe-trotters, who are the lifeblood of corporate travel, have expressed their desires. They yearn for streamlined experiences that include mobile apps, contactless mobile payments, and self-service check-ins.
A good TMS should have robust expense management features. They help you track and manage expenses, including receipts and reimbursement processes. Consider software that integrates well with other systems you use.
Policy compliance is important. Ensure the software can enforce your company's policies, helping you maintain budget control and ensure employee adherence.
In the world of modern tourism, efficiency is the key to success. At Stfalcon, we are more than just a software development company. We are your partners in making travel management a breeze. Our experience speaks for itself, with a track record of creating seamless solutions for travel agencies and businesses. Our team knows the ins and outs of the industry. Don't settle for less when you can have the best.
Enter travel management software, your passport to seamless journeys, and efficient expense tracking. Сontact us and let Stfalcon be your experienced captain on this journey.