Key Features of Travel Management System

We can understand the importance of a travel management system for modern enterprises based on some of its key features.

Companies and startups implement a travel management system to automate a structure or framework facilitating domestic and internal business travel. The special purpose application streamlines corporate travel management through the automation of crucial steps in the process – business travel booking, travel expense management, and travel data analysis.

A travel management solution automates these interrelated activities by providing a slew of native features. Some of these features enhance the business travel experience and safety of employees, while others help travel managers run business travel programs and control business travel costs.

At the same time, certain features provided by the software facilitate informed decision-making based on real-time travel and expense data. We can understand the importance of a travel management system for modern enterprises based on some of its key features.

13 Key Features of a Travel Management System

  1. Granular Travel Policy Access

A travel management system allows travel managers to implement customized travel policies. While implementing travel policy, the manager can divide the travel policy into small sections using criteria like employee level, department, project, travel destination, and similar criteria. The feature ensures that each employee accesses relevant travel policies.

  1. Multi-Level Approval Hierarchy  

Travel management software simplifies the business travel approval process by providing two important features. Firstly, it helps employees send business travel requests to the appropriate manager or supervisor by supporting a multilevel approval hierarchy configuration. Secondly, employees can use the software to send travel requests directly to the approver as well as track the request status.

  1. Individual User Profiles

Some employees travel regularly to various destinations for business purposes. They want to avoid sharing information and filling up forms repeatedly while making business travel arrangements. The travel management system allows them to store their personal data and travel history securely by creating individual user profiles.

Ensuring the security of personal and travel data is of paramount importance. As employees store sensitive information, a robust data security solution is indispensable to safeguard against potential threats. Learn more about the importance of data security by visiting this website, rhinonetworks.

  1. Corporate Booking Tool

This important tool provided by a travel management system helps employees speed up business travel booking. Employees can use the corporate booking tool to compare and book essential business travel products like flights, accommodations, and car rentals by accessing destination-specific travel inventory.

New-age travel management software recommends travel products to each employee according to his booking history and travel choices using artificial intelligence (AI) algorithms. But it ensures that employees do not violate preconfigured travel policies while booking their preferred travel products.

Also, employees can use the same software to cancel and reschedule bookings in a straightforward way. The feature helps employees to book and manage business trips without visiting the websites of individual travel suppliers several times.

  1. Real-Time Information Delivery

Most travel management solutions are available as mobile apps. Employees can access the travel management app on their smartphones or tablets to receive real-time information like the latest travel guidelines and flight status. The real-time information delivered as mobile alerts help work travelers stay safe and relaxed by mitigating common travel risks.

  1. Duty of Care Solution

A travel management system helps companies meet important legal and moral obligations like the duty of care. Employees can access the duty-of-care solution provided by the software to get emergency support across destinations. Leading providers boost the solution by partnering with reputable global health and security risk management firms.

  1. Traveler Tracking Tool

Travel managers can easily share information and provide assistance to a work traveler when they know his current location. Travel management solutions track the real-time location of every work traveler by featuring GPS location tracking tools. The feature helps managers to communicate with a work traveler in minutes regardless of the business travel destination.

  1. Automated Expense Report Generator

A travel management system helps companies switch from paper-based expense reporting to automated expense reporting. Employees can use the software to generate digital expense reports in minutes. The software further saves their time by producing expense reports by capturing information from scanned invoices, bills, and receipts.

  1. Expense Dashboard

This feature provided by a travel management system helps the finance team to track travel expenses incurred by employees in real time. Managers can use the expense dashboard to differentiate reimbursed travel expenses from outstanding travel expenses. In addition to accelerating travel expense reimbursements, the feature helps the finance team prepare budgets and manage cash flow.

  1. Report Generator

In addition to facilitating real-time travel expense tracking, the dashboard enables managers to review and monitor travel expenses by generating custom reports. A manager can use the feature to generate and schedule reports based on a variety of factors, including employee, department, project, and travel destination. The reports help managers measure the performance of business travel programs, detect cost-saving opportunities, and make informed financial decisions.

  1. Alerts and Notifications

A travel management system streamlines a complex business process by sending various alerts and notifications. For instance, it speeds up the business travel approval process by sending notifications to approvers. Likewise, the automated notifications sent by the software help decision-makers detect travel policy violations and travel expense fraud early.

  1. Travel Data Analytics

A travel management system stores the travel and expense data of employees in a central location. Also, it updates the data automatically. At the same time, the software gains insights by analyzing the data using advanced data analytics solutions. The actionable insights shared by the software help decision-makers find opportunities to increase the ROI of business travel.

  1. 24/7 Travel Support

Each employee needs a variety of information and assistance before and during business trips. Travel management software providers provide the required information and assistance to a work traveler by offering 14/7 customer support. An employee can use the software to interact with a customer service executive in several ways – sending an email, making a phone call, and initiating instant chats.

Conclusion

The features provided by a travel management system help enterprises automate the corporate travel management process fully. But leading travel management solutions differ from each other in the category of features or functionality.

Decision-makers these days automate business travel management by implementing unified travel and expense management software. Also, they prioritize software that boosts built-in features by leveraging Industry 4.0 technologies like artificial intelligence and data analytics.

 

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.