The best travel management software in 2023

After grinding to a halt during the pandemic, the necessity for corporate travel—whether for client meetings, industry conferences, or internal gatherings—has ramped back up. Managing these travel requirements efficiently is essential for any business to thrive. Travel management software (TMS) comes in handy to streamline the planning, booking, and expense tracking processes associated with corporate travel.

Given the multitude of TMS options available on the market today, choosing the best software for your company's needs can be quite a challenge. This guide will walk you through some of the best travel management software available in 2023, highlighting their standout features, pricing, and who they're best suited for.

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Egencia: Corporate travel management with a global reach

Egencia, a subsidiary of Expedia Group, stands tall as a leading global provider of travel management software. It furnishes businesses with an extensive suite of tools for managing a wide array of corporate travel needs, ensuring that all facets of business travel are seamlessly covered.

Companies partnering with Egencia gain access to a comprehensive network of travel services. This network includes a variety of airlines, hotels, and car rental services, providing businesses with a broad spectrum of options to best meet their travel requirements.

Egencia further enhances its offering through a robust mobile application which allows travelers to book, alter, or cancel their travel arrangements from anywhere at any time, facilitating greater flexibility and control over their travel plans..

Egencia doesn’t provide explicit pricing details on their website. However, the company is known for its tailored pricing model that adjusts based on a company's specific travel needs. This model ensures that businesses of all sizes can access their services without financial strain.

Navan: Using AI for a personalized experience

In the rapidly evolving world of travel management software, Navan sets itself apart through the use of cutting-edge artificial intelligence (AI) technology. This technology enables the platform to offer a personalized travel experience, as the AI algorithms analyze user behavior and preferences to suggest travel options specifically tailored to individual needs.

Beyond its innovative AI capabilities, Navan provides round-the-clock traveler support and a robust rewards system. This system incentivizes employees to make cost-saving decisions, ultimately leading to greater overall business savings. To further support companies in optimizing their travel spending, it also provides advanced reporting and analytics.

Navan operates on a quote-based pricing model, similar to some of its competitors. This approach offers personalized pricing, tailored to fit the unique requirements of each company.

SAP Concur: Seamless integration with existing systems

SAP Concur is a stalwart in the realm of business software, and its travel management solution is no exception. The platform is renowned for its seamless integration capabilities, allowing it to work synergistically with existing ERP, HR, and accounting systems. This integration means companies can manage their travel needs without disrupting their established operational processes.

Key features of the SAP Concur platform include automatic expense report creation from e-receipts and the ability to monitor policy compliance in real-time. To ensure accessibility, SAP Concur also offers a mobile app, enabling the management of travel and expenses while on the go.

SAP Concur adopts a quote-based pricing model, which allows for customized solutions based on the unique requirements of each business, ensuring that each company receives a package that best fits their needs.

TravelBank: Superior usability and excellent pricing

TravelBank presents a robust all-in-one solution for travel booking, expense management, and rewards, coupled with an easy-to-use interface. Recognized for its superior usability, it aims to simplify complex processes for businesses seeking an intuitive and straightforward platform. Moreover, the TravelBank platform is accompanied by outstanding customer support, which bolsters its overall value for businesses.

A key distinguishing feature of TravelBank is its 'TravelBank Rewards.' This system is designed to encourage employees to make cost-saving decisions, rewarding them for such behavior and indirectly aiding the overall reduction in the company's travel costs. It's a unique approach that combines employee incentives with corporate savings goals.

TravelBank takes a transparent approach to its pricing, offering two clear-cut plans: Standard and Premium. The Standard plan is entirely free, making it a risk-free starting point for companies looking to explore the capabilities of TravelBank. The Premium plan, priced at $9 per user/month, provides a range of additional features and benefits that could provide value for growing businesses.

Coupa Travel: powerful expense integration

Coupa is known for its comprehensive suite of business spend management solutions. The company's Travel and Expense module carries forward this legacy, offering an integrated platform that handles both travel booking and expense management.

The software uses artificial intelligence to guide users towards policy-compliant and cost-effective travel options while booking, enhancing the overall efficiency of business travel spending. The seamless integration of the Travel and Expense module with Coupa's expense management system also allows for automatic expense reporting, reducing the manual effort required for expense reports as well as simplifying the process.

Coupa adopts a customized pricing model, providing a cost that aligns with your specific business requirements. The cost depends on the modules you choose to incorporate in your package, allowing for a solution tailored to your needs.

Rydoo: user-friendly with a global focus

Rydoo stands out in the travel and expense management software market with its strong focus on user experience and compliance. The company has developed an intuitive travel booking system that allows users to effortlessly compare options for flights, hotels, and car rentals.

A unique selling point for Rydoo is its commitment to global compliance. Designed to adhere to regional regulations across over 60 countries, the platform is a highly suitable choice for businesses with global operations or those looking to expand internationally.

Rydoo keeps its pricing straightforward, offering three tiers: Team, Growth, and Enterprise. Each tier provides a different range of features, catering to businesses of varying sizes. This flexibility makes Rydoo a versatile option that can grow with your company's needs.

The evolving world of travel management software

As the world of corporate travel evolves, so does the technology that supports it. The best travel management software is the one that aligns with your company's needs, offers the features that are most important to your operations, and fits within your budget.

By exploring your options and understanding what each platform has to offer, you're sure to find a tool that makes managing business travel in 2023 easier and more efficient.