Best Corporate Travel SoftwareBy Kathleen Burns, published on Mar 5, 2020
A guide to the best corporate travel software solutions on the market.
Despite the prevalence of teleconferencing technologies, travel is still an important part of conducting business today. Face-to-face interaction will always be valued by the corporate world, and some business simply can’t be conducted without it. According to the GBTA, business travel spending has been increasing at an annual rate of about 5% for several years in a row.
As more people travel for work, and as budgets for doing so increase, managing business travel becomes increasingly complex for all parties involved. That’s where corporate travel software comes in. This software simplifies all aspects of corporate travel, from booking flights and hotels to managing expenses.
However, like with any software, choosing the right corporate travel tool can be a headache because of the sheer number of options available. And since software isn’t a one-size-fits-all solution, it can be difficult to understand which option is the best fit for your company.
We’ve prepared this comprehensive guide to corporate travel software to make it easier for you to choose the right one for your company.
What is corporate travel software?
First things first: what is corporate travel software? Corporate travels software, also known as travel management software (TMS), is a technology solution for handling business travel. A comprehensive TMS will have features that benefit travelers, admins, and finance teams. These features can include booking capabilities (airfare, car rentals, hotels, etc.), travel and expense management, travel policy enforcement, traveler support, a mobile app, and safe credit card permissions. This software can serve in place of corporate travel agencies. Travel management companies typically license their software to users through a monthly or yearly subscription.
So who needs corporate travel software? Any company that travels for work can benefit from a tech solution. There is travel software that can facilitate corporate travel booking and management for companies of any size.
Using a corporate travel software has multiple benefits including:
- Time savings - With a one-stop shop for all aspects of travel, travelers don’t have to spend hours browsing consumer sites to find flights, hotels and car rentals that work for them, let alone fit the company’s travel policy.
- Cost savings - Companies that use corporate travel software can save up to 30% on their travel expenses.
- Traveler support - A comprehensive TMS will provide travelers with round-the-clock support so that they don’t have to be stranded if a flight is cancelled.
We might be biased, but check out why our customers rave about Lola’s corporate travel software here.
How can you choose the right corporate travel software for your business?
While different companies will have different needs, there are some features that benefit all businesses that travel. They are:
- Flat rate pricing - Look for transparent, flat rate pricing rather than pricing that fluctuates depending on use or company size. With a flat fee, you can predict travel costs better so that you can stick to your budget.
- Customizable corporate travel policies - It’s important to have a corporate travel policy built into the tool so that it’s front-of-mind for travelers when booking. To facilitate this process for the policy creators, find a tool that lets you fully customize your corporate travel policy.
- Flexible approval processes - While you may want to approve every purchase an employee makes when your company is small, as the business grows, you’ll find that lengthy approvals often hinder business. Look for a booking tool that gives you the option to set up a flexible approval process to avoid booking delays (and increased prices).
- Free 24/7/365 traveler support - What good is a tool that lets you book air travel but doesn’t help you when plans change? Find a solution that gives your travelers on-the-go support around the clock.
Now that you understand the universal features you should look for in corporate travel software, you should consider the capabilities that fit your specific business needs. To do this, you must identify your company’s needs, and then its priorities.
For example, if you own a small business with few travelers, you may prioritize saving money. So, you’ll need travel management software that gets your travelers discounts on online bookings.
If you work on the finance team of a large company, your priority may be efficiency. You’ll need a tool that automates T&E reporting.
When you find a travel and expense management solution that fits your company’s needs, you’ll be able to get the maximum benefit from the tool.
Highest rated corporate travel software
Highly rated corporate travel software is valued for customer satisfaction, ease of use, and overall features. Here are a few features that the highest rated travel management software provide:
- Free 24/7 traveler support
- A modern user interface
- A cloud-based solution with a mobile app
- Travel policy enforcement
- Exclusive discounts that reduce travel costs
So what is some of the highest rated corporate travel software? According to Capterra, the leader in software ratings, Lola.com is “among the highest rated corporate travel software options.” It’s a one-stop shop for corporate travel bookings, expense management, traveler support, and more.
Now we’ll discuss and compare Lola and other top rated travel software to tell you everything you need to know to make an informed purchasing decision.
Overview of Lola.com
Lola.com is an easy to use, lightweight travel management solution to streamline the entire business travel process, from booking flights and hotels to reporting on travel spend. Lola’s pricing information is made available on the website, with subscription fees starting as low as $125 per month — and no surprise booking, transaction, or implementation charges. Lola’s industry partnerships grant users’ access to discounted inventory of flights, hotels, and car rentals typically only available to large enterprises spending millions on travel each year. One of Lola’s greatest highlights is the world-class travel support team, the Wombats, available 24/7 to help with changes and cancelations.
Overview of TripActions
What are the pros of TripActions?
- Large inventory - This platform gives travelers a wide range of flight, hotel, train and car rental options.
- Wide range of integrations - TripActions can work with other tools in your travel and expense tech stack.
What are the cons of TripActions?
- Unpredictable pricing - TripActions charges for fees implementation and booking ($20-25 each time), which can quickly add up, making budget forecasting a nightmare.
- Weak travel support - This tool doesn’t monitor travel disruptions that may occur and therefore can’t offer comprehensive, proactive customer support when plans (or weather!) change.
- Slow onboarding - The time it takes for your team to be trained on the tool can slow down implementation.
- Poor rewards program - It incentivizes employees to book lower-cost hotels and flights, even if they’re not the most efficient, with personal rewards that end up costing your company more money anyway.
What differentiates Lola from TripActions?
- Flat rate pricing - Lola’s flat rate pricing is transparent and predictable.
- Traveler support - Lola’s on-site, expert traveler support offers proactive help, often going above and beyond.
- Quick and easy onboarding - With Lola you get access to your account immediately and can be logged in and online booking within minutes.
- Great rewards program - Lola’s exclusive partnership with Amex Global Business Travel gives its customers access to unique benefits, such as negotiated fares typically only available to large companies that spend $30 million or more on travel annually. Travel agencies, beware!
Overview of TravelPerk
What are the pros of TravelPerk?
- Offers a free solution - TravelPerk offers free and premium solutions. However, in order to get access to all the beneficial features of this travel management software, you have to pay for the premium version.
- Large inventory - TravelPerk has a large inventory, especially in Europe, making it useful to larger companies that travel abroad.
What are the cons of TravelPerk?
- Booking fees - Even with a premium account, TravelPerk charges a booking fee of $15 per trip, which adds up quickly and is reminiscent of travel agencies. If your company conducts 500 trips each year, that’s $6,000 of your travel budget spent just on booking fees!
- Lack of rewards - TravelPerk users can’t collect hotel loyalty rewards if they book through the TravelPerk platform.
- Various policies - TravelPerk works with multiple vendors, which means that users have to maneuver varying terms and conditions for cancellations and changes, which often becomes challenging, time consuming, and costly.
What differentiates Lola from TravelPerk?
- Flat rate pricing - Lola’s flat rate pricing means that you pay for access to the entire platform, rather than per transaction.
- Loyalty - Lola users can collect hotel loyalty points on their bookings.
- Consistent terms and conditions - With consistency, you jump through fewer hoops when travel plans change. Plus Lola’s on-site customer service team is always available for no extra cost so that you don’t have to deal with changes in plans yourself and can focus on preparing for your meetings.
Overview of TripIt
What are the pros of TripIt?
- Simple to use - TripIt’s interface is modern and intuitive.
- Offline access - Users can access their itinerary even if they aren’t connected to the internet, which is useful on the go.
What are the cons of TripIt?
- Different levels of accounts - TripIt offers several levels of subscriptions. With different features available on each tier, it’s difficult to compare levels and understand what you’re actually getting.
- Lack of customer support - TripIt doesn’t offer around-the-clock customer service, so if you need help while you’re on the go and are in a far away time zone, you’re on your own.
What differentiates Lola from TripIt?
- True travel management software - TripIt is more of a travel organization tool than a travel management software. Lola integrates flight, hotel, and car rental bookings, travel policy, a mobile app, virtual credit card permissions, and expense management in one platform.
- Unparalleled customer service - Lola offers free 24/7/365 customer service to its users.
- Flat rate pricing - Lola’s transparent, flat rate pricing gets you similar features and more to TripIt, but all in one place.
Overview of SalesTrip
What are the pros of SalesTrip?
- Integration with Salesforce - SalesTrips’ integrates with the leading CRM.
- Automated expenses - Automated expensing makes T&E reporting efficient.
What are the cons of SalesTrip?
- No dedicated mobile app - Without a mobile app, users can’t make purchases on the go.
- Cannot be used for personal bookings - SalesTrip customers can only use the travel management software for business bookings and can’t use it to also book personal travel.
- Poor user interface - Poor design makes SalesTrip difficult to use.
- No hotel or car rental booking - SalesTrip is only for booking air travel, so it’s not a comprehensive tool.
What differentiates Lola from SalesTrip?
- Integrations and automated expensing - Lola integrates with Expensify and several other expense management platforms to make managing T&E easy with the tools your team is likely already using.
- Simple-to-use mobile app - With Lola you can book, manage, and report on travel on the go. You can even chat with the customer service team via the mobile app. In fact, it’s the best way to get in contact with them.
- Lola can be used for personal travel - It becomes more than just a business travel management solution. Lola is a unique employee perk, because customers can access traveler support and discounted fares even when booking personal travel.
- Top-rated user interface - Lola’s interface is sleek and intuitive, so design doesn’t get in the way of business.
- Comprehensive booking tool - Lola users can book air travel, hotels, and car rentals in one place, topping the capabilities of some travel agencies. Lola’s platform also lets you build a custom travel policy.
Overview of Webexpenses
What are the pros of Webexpenses?
- Great integrations - Webexpenses has integration options that make its capabilities more powerful.
- Paperless expensing - This cloud-based solution offers paperless expensing via a mobile app. Users can snap photos of receipts, which streamlines the creation of expense reports.
What are the cons of Webexpenses?
- Not very intuitive user interface - Webexpenses’ confusing design makes it difficult to use.
What differentiates Lola from Webexpenses?
- Comprehensive tool - While Webexpenses is more of an expense management platform, Lola is a comprehensive travel and expense management software so you can also use it to book travel and accommodations.
- Free 24/7 customer service - Lola’s around-the-clock customer support helps customers when travel plans change, a service that most travel agencies can’t provide.
- Simple, modern user interface - Lola makes travel management delightful with its intuitive, easy-to-use interface design.
What is the best corporate travel software for small businesses?
Small businesses have different needs, budgets, and processes than enterprises, which is why we’re highlighting the best travel and expense tools for small businesses. But first, here are several things you should keep in mind as you shop around.
How corporate travel software benefits small businesses
Here’s how using a booking tool that was created especially for small businesses can help your company:
- Cost savings - Corporate travel software gives small businesses access to discounts that usually only large companies can take advantage of.
- Time savings - Travelers and finance team members can book travel and manage expenses in one place.
- Convenience - Cloud-based solutions with mobile apps make it easy to book travel and submit expenses while on the go.
Must-have features for small business travel management software
Look for a tool that can offer you these benefits:
- Support - Travel management software with traveler support built in maximizes return on investment.
- Savings - Your tool should help you maximize your travel budget by securing discounts on travel bookings.
- Flexible spending - Predictable, fixed costs also keep the budget in check.
- Reduces admin time - Your software should automate repetitive tasks like expensing.
- Convenience - Features like mobile apps and virtual credit card permissions give your team agility while on the road.
- Integrations - Look for a booking tool that integrates with your current tech stack for maximum power and efficiency.
How to choose corporate travel software for your small business
Small business owners should use the following three considerations in order to determine what corporate travel software is best for their company:
- Write down your business’ travel needs. How many trips do you take each year? What is your travel policy? How many people travel? What kinds of hotels do you like to stay in? Do you want your team to book their own travel or have someone else book it for them?
- Prioritize these needs. Rank what is most important to you when it comes to business travel.
- Find a tool that fits your travel needs and budget. There are travel management software solutions that range from free to thousands of dollars per year. Determine which software can give you the most features within your budget.
TripActions for small businesses
We already gave an overview of how TripActions compares to other business travel solutions. But how does this platform perform when it comes to small business use? Here’s a guide to TripActions for small businesses.
What are the pros of TripActions for small businesses?
- Variety - This travel management platform gives small businesses many options when it comes to booking travel and accommodations.
- Lots of integrations - Because TripActions offers many software integrations, you can make it work with the software you already use.
What are the cons of TripActions for small businesses?
- Unpredictable pricing - Users have to pay a monthly subscription, an implementation fee, and booking and service fees of around $20-25 for each transaction. Unpredictable pricing makes it difficult to stick to your travel and expense budget.
- Weak traveler support - TripActions doesn’t monitor travel disruptions and therefore can’t anticipate traveler needs, which may leave your travelers fending for themselves when changes and cancelations arise.
What differentiates Lola from TripActions when it comes to small businesses?
- Fixed pricing - Fixed pricing means there are no surprises on your bill, which makes your travel booking spending predictable and easy to budget for.
- 24/7/365 traveler support - Lola monitors airline announcements and client itineraries for travel disruptions like flight delays and cancellations to help clients get booked on alternative routes. Lola’s customers have access to award-winning support around the clock through the mobile app.
TravelPerk for small businesses
Here’s how TravelPerk works as a travel solution for small businesses.
What are the pros of TravelPerk for small businesses?
- Free option - TravelPerk offers free and premium solutions. However, in order to get access to all the beneficial features of this travel management software, you have to pay.
- Large inventory - TravelPerk users have many choices when they book trips.
What are the cons of TravelPerk for small businesses?
- Booking fees - The premium account charges a booking fee of $15 per trip, which quickly adds up and makes a dent in a small business travel budget.
- European inventory - TravelPerk excels in its European inventory, which might not be relevant to small businesses that primarily conduct domestic travel.
- No collecting hotel loyalty rewards - Small businesses miss out on free stays and upgrades by not being able to collect hotel loyalty points through TravelPerk.
What differentiates Lola from TravelPerk when it comes to small businesses?
- No booking fees - Lola offers small businesses upfront, predictable pricing.
- Inventory all over the world - Gets your team where they need to go.
- Loyalty - Lola users can collect and redeem hotel rewards points to stretch their travel budgets.
NexTravel for small businesses
Here’s how NexTravel serves small businesses as a trip management solution.
What are the pros of NexTravel for small businesses?
- Free option - Users can start with a free account.
What are the cons of NexTravel for small businesses?
- Not made for small business - NexTravel focuses its offerings on mid-market to enterprise companies.
- Slow maintenance - This is slow to respond to technical glitches/bugs, which leads to incomplete transactions and unconfirmed itineraries.
- No discounts on travel - This travel management software doesn’t negotiate discounted airfare and hotel rates for their users, so small businesses can’t save any money by booking with them.
What differentiates Lola from NexTravel when it comes to small businesses?
- Transparent pricing - You pay one fixed fee to access all services.
- Discounts on travel - Lola’s exclusive partnership with AmexGBT gives customers access to negotiated rates.
- Quick support - Lola has fast paced product development that incorporates customer feedback.
TravelBank for small businesses
Let’s see how TravelBank serves small businesses.
What are the pros of TravelBank for small businesses?
- Free option - TravelBank lets small businesses save money by using their free account option.
- User-friendly - The platform’s design is intuitive and easy to use.
What are the cons of TravelBank for small businesses?
- Transaction fees - TravelBank charges fees for booking and re-booking.
- Limited travel policy options - TravelBank doesn’t let you fully customize your travel policy. Admins can only set one or two metrics, which makes out-of-policy bookings that go over budget inevitable. Expensive mistakes add up!
What differentiates Lola from TravelBank when it comes to small businesses?
- Flat rate fees - Lola users can easily predict travel management spend with one low annual fee.
- Custom travel policy - You can fully customize your business’ travel policy in the Lola platform.
- All-in-one travel and expense tool - Lola is a comprehensive business travel tool that incorporates booking, virtual credit card permissions, and expense report creation through its integration with Expensify.
Upside for small businesses
Here’s how Upside works as a small business travel tool.
What are the pros of Upside for small businesses?
- Free platform option - Small business owners may appreciate Upside’s free offering.
- Predictable costs - Upside has package-based pricing.
What are the cons of Upside for small businesses?
- Lack of loyalty rewards - Customers cannot collect loyalty points when booking through Upside.
- Limited inventory - Limited flight and accommodation options make it difficult for small businesses to find options that work for them.
What differentiates Lola from Upside when it comes to small businesses?
- Greater ROI - Lola’s flat rate pricing offers more flexibility, and provides customers with cost savings, 24/7 support, compliance, and reporting — all of which are not available on Upside’s free (or even smaller package) options.
- Loyalty - Lola users easily collect loyalty points both on personal rewards programs and corporate travel loyalty accounts.
What is the best travel software for tracking business expenses?
Companies get the most return on their investment when they use travel management software that doubles as a comprehensive travel and expense tool. Look for features like integrations with expensing software, virtual credit card permissions, mobile receipt uploads, and automated expense reporting from this tool.
You have several options when it comes to finding two-in-one travel and expense software.
TripActions for tracking business expenses
Check out how TripActions stacks up to the competition as an expense management tool.
What are the pros of TripActions for tracking business expenses?
- Visibility - Integrations and automated reporting give users visibility into travel and expense spending.
- Credit card - TripActions offers a payment solution that warns users when they make purchases outside of the corporate travel policy.
What are the cons of TripActions for tracking business expenses?
- Fees - This travel management software charges booking fees, which can cut into the T&E budget.
- Poor rewards program - TripActions incentivizes users to book lower-cost accommodations and flights, even if they’re not the most efficient, with personal rewards.
What differentiates Lola from TripActions for tracking business expenses?
- Real-time visibility - Lola gives users visibility into travel spend with its Expensify integration. Digital receipts are sent to Expensify as soon as a trip is booked through Lola.
- Granular finance reports - Various reporting options give finance teams everything they need to analyze T&E spend.
- Out-of-policy notifications - Users can see which travelers are making out-of-policy purchases.
TravelBank for tracking business expenses
We’ve already shown you how TravelBank compares to others as a travel management tool. Now we’re looking at how it fares as an expense management solution.
What are the pros of TravelBank for tracking business expenses?
- Automated reporting - Users can snap photos of receipts from business trips via a mobile app to create automated expense reports.
- Budget tracker - TravelBank lets users set up flexible budgets that adjust projected travel costs depending on the destination.
What are the cons of TravelBank for tracking business expenses?
- Limited expensing capabilities - TravelBank only provides a “General Expense” option, which makes tracking and organizing spend difficult.
- Rewards program - This tool lets travelers split the cost savings with their company when they choose an under-budget flight or accommodation. While this reward incentivizes travelers to obey travel policy, it can lead employees to choose inconvenient options.
What differentiates Lola from TravelBank for tracking business expenses?
- Expensify integration - Lola’s Expensify integration gives users access to automated expense reporting, which simplifies the process and improves organization.
- Virtual credit card permissions - Admins can give travelers access to the corporate credit card in a safe manner.
TravelPerk for tracking business expenses
Here’s everything you need to know about TravelPerk as an expensing solution.
What are the pros of TravelPerk for tracking business expenses?
- Expensify integration - TravelPerk users can upload receipts via Expensify’s mobile app to provide finance teams with real-time data about travel and expense spending.
- Travel policy enforcement - With policy adherence built in, overspending is a thing of the past.
What are the cons of TravelPerk for tracking business expenses?
- Limited integrations - TravelPerk only integrates with Expensify, Google Calendar, and Bamboo HR.
What differentiates Lola from TravelPerk for tracking business expenses?
- Many integrations - Lola already integrates with more than half a dozen expense management and reporting tools, including Expensify, and has many more integrations in the works.
- Customizable travel policy - Lola’s travel management software highlights in-policy options and lets travelers book out-of-policy options when required for maximum flexibility.
Concur for tracking business expenses
Here’s how Concur fares as a travel expense management tool.
What are the pros of Concur for tracking business expenses?
- Enterprise level - Concur works well for large companies.
- Tight controls - With tight controls on spending, you can stick to your travel budget more easily.
What are the cons of Concur for tracking business expenses?
- Not for small businesses - Concur is intended for large, enterprise level companies.
- Rigid controls - Concur’s rigid approval workflows prevent flexibility and innovation.
- Confusing pricing - It is hard to predict what you’ll pay each month.
- Clunky interface - Concur’s platform isn’t user-friendly or intuitive to navigate.
What differentiates Lola from Concur for tracking business expenses?
- Transparent, fixed pricing - Lola makes travel and expense spending more predictable.
- One size fits all - Lola has features that help businesses of all sizes.
- Flexible - Lola offers flexible approval processes to avoid lengthy or delayed approvals that lead to price increases. Travelers can even make bookings using virtual credit cards.
- Easy to use UI - Lola’s interface is sleek and intuitive, and comes with an easy-to-use mobile app with receipt uploading capabilities that lets travelers create expense reports from anywhere.
Egencia for tracking business expenses
Now let’s take a look at how Egencia stacks up for managing travel expenses.
What are the pros of Egencia for tracking business expenses?
- Versatile - This tool includes travel policy and travel expense management features like automated expense reports for real-time reporting.
- Enterprise-friendly - Egencia is made for large companies.
What are the cons of Egencia for tracking business expenses?
- Not small business-friendly - Although they also offer services for small businesses, Egencia’s pricing information is not available online, making it difficult for smaller businesses to outline a travel and expense budget ahead of time.
- Poor customer support - Egencia offers customer support for business travelers. However, customers often report 30-60 minute wait times and no proactive communication regarding changes in travel plans.
What differentiates Lola from Egencia for tracking business expenses?
- 24/7 proactive support - Lola’s team is available on-the-go at all times to help with flight rebooking and other things.
- Fixed pricing - Lola’s pricing is transparent and predictable, so you know exactly how much will be charged to the company credit card.
- Customizable travel policy - Users can customize their travel policy to increase policy compliance and maximize the travel and expense budget.
There are many corporate travel software options out there. The best in the industry combine booking capabilities with comprehensive expense management tools. When shopping for corporate travel software, look for a solution that fits your company’s current needs and that can also grow as your company’s travel needs change. Book a demo of Lola to see if it’s the right travel and expense solution for your company.