Selecting a corporate management solution is an important decision for your business, and one that can potentially save you a significant amount of time and money on business travel. There are a variety of different travel solutions and agencies to choose from, and it can be difficult to know which one is right for you. This page will help you understand the key differences between Lola.com and TravelBank, so you can decide which solution makes the most sense for your business.
Want the condensed version? Download the Lola.com vs. TravelBank one page comparison report.
TravelBank is a corporate travel management tool touted as a smarter way to book, track, and earn rewards on business travel. However, Travelbank’s unimpressive platform, lack of focus on traveler experience, and run-of-the-mill customer support cause it to fall behind in the ranks.
TravelBank is ranked #16 for Travel Management Software on Capterra.
Most corporate travel services selling to SMBs charge a fee for each individual traveler per month – anywhere from under $10 to over $20. As your company starts to grow, this can become very (and unexpectedly) costly. This pricing model is also not very practical if you have some employees traveling very frequently but some rarely, if at all.
Additionally, most companies charge booking fees (these tend to be around $25 – pretty steep!) and even re-booking fees in some cases. Every single time you book travel through their platform. You'll soon notice that your corporate credit card is incurring dozens and dozens of these charges each and every month.
While TravelBank advertises itself as mostly free, Premium features that admins and travelers will expect and need for business travel cost extra. Additionally, TravelBank charges transaction fees on every booking and re-booking. That can add up pretty quick!
On the other hand, Lola’s pricing model is straightforward and simple, with a single annual fee. There are three different tiers based on the number of travelers your company has. No matter which tier you go with, the only fee you’ll ever have to pay is an annual prepaid subscription. And, unlike most corporate travel solutions (including TravelBank), we don’t charge you any additional fees.
Lola's annual subscription tiers are:
Lola.com is the fastest and easiest way to confidently book, manage, and report on your company’s travel.
You can be sure that your employees are booking reasonable options at the best rates with our negotiated fares and built-in, customizable company policies.
Managing travel has never been as easy as it is with Lola. Our super-simple and modern UI helps you keep track of your road warriors and provide them 24/7 VIP support.
Lastly, finance teams have powerful reporting tools at their fingers to give them real-time visibility into their full travel spend and savings – broken down into intuitive dashboards and data-rich spreadsheets.
Making sure that your employees are taken care of on the road is one of the most important aspects of corporate travel management. Corporate travel hinges on tight schedules and important, time-sensitive meetings. However, flights get delayed or cancelled and trips get disrupted. Travel disruptions are a part of life, but dealing with them on your own doesn’t have to be. That’s why Lola prides itself on offering the BEST customer support in the business – giving you lightning fast connection to a human ready to help you via our in-app chat. Whether you need assistance rebooking, making proactive changes to your reservation, or virtually anything else to make your trip go as smoothly as possible, Lola has got your back.
TravelBank’s model of incentivizing employees to save money through gift card rewards isn’t a winning strategy. The rewards are still funded by your company! Even if it gets an employee to save, you are still giving up money in another way and aren’t maximizing your savings.
Employees should always want to strike a balance between creating a comfortable, suitable itinerary while also saving their company money.
The Lola platform is an employee perk in itself, and there’s no need to spend more money on rewards perks. The ease of booking, fantastic traveler support, and saved traveler preferences are plenty reason enough to get your employees to pay it forward and choose a cheaper option when possible. Plus, they’ll automatically receive their own frequent flyer and rewards points whenever they book through Lola, thanks to the platform’s saved profiles.
Additionally, with Lola, getting reimbursed for travel and expense costs, and filing expense reports, has never been easier. Lola’s one-click integration with Expensify allows travelers to automatically send travel receipts to Expensify (and on to the finance team) once a trip is complete.
To keep your travelers happy and completely managed on the road, Lola is also the obvious alternative over TravelBank. Imagine a world in which you never have to worry about getting an email or call after hours from a stranded employee. That world is what you will get from Lola. Our customer support team works around the clock to ensure that your travelers get all the help they need to make their trip go smoothly, especially in the event that a delay or cancellation tries to mess with their plans.
Lola has much better restriction management than TravelBank. When setting up your company policy, TravelBank is very limited and only allows an admin to set one or two metrics guiding their employees decisions.
Meanwhile, Lola offers complete personalization and implementation of your policy, all the way down to important details such as how much is an employee allowed to spend on a nonstop flight versus one with stops.
Corporate travel management is the process companies use to book, manage, and report on corporate travel. Employees need to go on trips to see clients and attend conferences — and stay in accordance with their company’s travel policy when they do. Travel managers and/or executive assistants need to provide support for their travelers while they’re on the road. Lastly, the finance team must be able to track how much money is being spent on travel and provide consistent booking policies for all traveling employees.
Without a centralized platform that incorporates all of these necessary tools, your company will waste time and money on corporate travel. Employees will overspend, travelers will have to overcome travel disruptions on their own, and the finance team will have no idea where all of their money went!
Additionally, the more that a company grows, the more that it will need to travel. This leads to more bookings, receipts, and expenses circulating without a single platform to simplify the process of organizing all of these loose ends. This gives even more reason to set up corporate travel management as quickly as possible!
To boil it all down, we think the 7 Benefits of a Corporate Travel Agency, especially Lola, are:
Lola is designed for small to medium businesses (SMBs). Most of our customers have between 5 - 1,000 employees, but we work with companies both smaller and bigger and deliver exceptional results.
But let’s keep it simple: if you want to:
– then Lola is the best and right travel management solution for your company.
Overall, Lola is a more capable, helpful, and easy-to-use corporate travel management solution than TravelBank. Highlighted by its modern UI and extremely helpful 24/7 customer support, it provides travelers and admins much better experiences while on the road.