3 Software Options for Travel and Expense Reporting
When it’s time to compile and submit expense reports post-travel, it’s helpful to utilize tools that will allow you to save time and energy in the long run. Let’s go over some of our favorite options for travel and expense reporting:
TripActions
TripActions is a great option to take on the “all in one” approach to finding the biggest bang for your company. This tool offers physical and corporate cards. Utilizing that option allows employees to have their travel costs covered upfront, which can be a stress reducer (and company perk!). Utilizing software like TripActions also allows you to put spending controls in place. These benefits, coupled with auto-categorization for expense reporting, rewards points and access to a large inventory base for flights, hotels and rental cars, make it a fantastic option for travel and expense reporting.
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Additionally, TripActions is free for up to the first 50 employees. After 50 employees, you will need to call the company to discuss plan options. TripAdvisor also has 24/7 support available so you are never left without assistance and has a 4.7/5 customer satisfaction rating.
SAP Concur
Concur offers many options that can be beneficial to a growing business. Concur is meant to simplify and automate the travel and expense process. This travel and expense tool allows you to use outside booking sites while keeping spending controls in place to optimize your travel budget. Concur also has a special feature that includes AI analysis to speed up auditing and compliance. It’s compatible with QuickBooks, which allows you to quickly and easily generate reports for tracking expenses.
SAP Concur is also traveler-friendly. The company has an app called “Expense It” that allows the traveler to snap receipt photos on the go, which makes expense reports a cinch. Another unique feature in Concur is Event Management. Users can book and plan event meetings with more guidelines and tracking availability.
On average, Concur costs $9/month and has other plan levels with enhanced features, along with 24/7 support. Concur has a 4.0/5 customer rating.
Nexonia
Nexonia is an expense reporting software that has features like expense reporting, accounts payable, and time tracking. Nexonia’s simple to use applications are integrated withcredit cards and other systems designed to tailor fit your business and streamline reporting and approvals. Nexonia offers a mobile app, which makes it easy for users to upload receipts and manage expenses on the go. Nexonia starts at $12 a month and is customizable. Add Nexonia Travel for a little more per month. Nexonia receives a 4.4/5 customer satisfaction rating for expenses.
Now, which is the right one for your business? Truthfully, you can’t go wrong with any of these options.
For small businesses and startups, TripActions is a great option for offering free services for up to 50 employees, plus it offers you all in one for most of your business needs.
If cost is not a concern, SAP Concur is a great system. The “Expense It” app is user-friendly for your employees to keep track of their receipts while on the go. They won’t have a pile of receipts to sift through later that sometimes are hard to read and takes hours away from other work to log into the system. It’s a great feature to take advantage of, especially if you plan to have employees traveling.
Nexonia is a strong option if you are only looking for expense reporting. This software allows you the freedom to book travel (flights and hotel) through any vendor you’d like without any spending controls. If you like to travel and allow seat upgrades, more expensive flights, any airline, or more nonstop options, this may be the option for you.
Find out how a virtual assistant can help with travel and expense reporting needs. Check out our blog Forget the Hassle | Utilize a VA for Travel & Expense Reporting.
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These software options provide features such as automated expense tracking, customizable reports, real-time visibility, and integrated travel management.
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The benefits of using these software options include increased efficiency and accuracy, improved compliance, and cost savings.
