Why All-In-One Travel Management is a Business Essential
Business travel is awesome. It gives you a chance to build rapport with coworkers, clients, and partners, and promote your company, all while visiting new places and trying the local cuisine, (over a lunch meeting, of course). As great as work travel can be, there are also a few not-so-pleasant associated tasks–booking the actual trip, staying within budget, keeping track of receipts, expense reports, and (un)timely reimbursements are just a few that come to mind.
Fortunately, the business travel landscape has changed and technology is available that provides a fantastic user experience in an all-in-one application. Business travelers and finance departments no longer have to battle with stacks of receipts, data entry into clunky spreadsheets, and pulling together documentation from a variety of sources just to close out a report. Not only do these manual tasks suck up time, but a recent study found that nearly 20% of employee expense reports contain mistakes or are incomplete.
If you’re looking to improve visibility, expedite reporting, error-proof the data entry process, enable budget management assistance, and provide crystal clear travel policies, it is time to consider the benefits of using an all-in-one solution to manage your business travel and expenses.
A One-Stop-Shop for Business Travel and Expenses
Saves You Time
Nothing is worse than having to login to multiple applications or search for documentation. It also wastes valuable time that could be spent on other projects. TravelBank’s all-in-one app means that you don’t need to mess with dozens of integrations or jump between apps. Our mobile-first design is intended for on-the-go expense capture and creation, so you can do more in less time. And for managers, we offer a desktop experience tailored to the tasks of managing and approving expenses and travel.
Streamlines Business Travel Bookings
TravelBank also addresses the challenges associated with open bookings. We help route all travel reservations through one system, meaning one source of truth and one point of contact for customer support, while providing a diverse array of inventory due to the fact that we pull from a variety of sources, not just one. Unlike older TMCs, we do not limit our content to preferred vendors that earn better commissions.
Makes Tools Accessible
A single sign-on travel and expense management platform benefits travelers and managers alike with easy access to all of the travel tools in one place, available anytime, anywhere. But don’t take our word for it. Let’s take a few minutes to look at a real world use case involving TravelBank customer, OnRamp.
Customer Spotlight: OnRamp
Data security leader OnRamp approached TravelBank in 2017. The company wanted a better way to handle expense reporting and to move away from receipts and Excel spreadsheets. A senior manager of customer operations at OnRamp began using TravelBank to track credit card expenses. After sending the TravelBank-generated expense report over for reimbursement, the accounts payable person was floored by how much easier and faster it was to process.
In just four short months OnRamp was up and running with TravelBank. Employees love using the app for booking travel and expense reporting. Accounts payable is elated at the amount of time being saved. In fact, the time spent on expense reporting has been reduced by more than ⅔. Talk about significant!
According to OnRamp’s accounts payable department, “TravelBank has made it so much easier to cover those bases and has sped things up so much that I’m able to get monthly reporting done in less than a day now. Plus, a lot of our staff are saying it’s made their life a lot easier, and they really feel like this has helped them. It’s been a great tool for us.” Want to learn more? Read the full story here.
Cost Savings and Real Time Budgets
Who doesn’t like to save money? TravelBank utilizes dynamic budgets based on your travel policy. We will show managers on the dashboard both what was spent, but also what the real time budget was for a particular trip. This ensures that policies and internal communications can be adjusted based on contextualized data, rather than just seeing raw spend without the real time budget. With an all-in-one solution, those budgets are integrated throughout the booking and expense tracking processes, providing consistency and transparency, and helping employees make better decisions when spending money on behalf of the company.
Work Smarter, Not Harder
If your company has yet to implement an all-in-one travel and expense management solution, we have good news! The TravelBank app is 100% free to use and available on iOS, Android, and the web.
Ready to move away from mountains of receipts, clunky spreadsheets, and longer-than-necessary reimbursement windows? We’re here to help. Request a demo to see how TravelBank’s all-in-one user friendly application can help you work smarter, not harder when it comes to business travel.
