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As such, they can struggle to organize flight bookings, handle payments, manage trip expense records and more. The February Workforce SpendManagement Tracker , a collaboration with PEX , tracks how solution providers are seeking to bridge this gap to meet the business travelexpensemanagement needs of SMBs and freelancers.
But these popular apps, which started as consumer-facing tools but have each made recent steps to embrace business travelers , don’t paint the entire picture of ground transportation for the corporate world, said Tobi Mac, founder and CEO of FlitWays Technology , and complexity in this space can make spendmanagement increasingly difficult.
SalesTrip , a new corporate travelexpensemanagement firm, is launching its product this week in the U.K. The company has integrated a travel booking and spendmanagement solution that it says is the first to operate on Salesforce , reports in Realwire said on Wednesday (Feb.
Corporate expensemanagement platform Captio announced a $1.12 The firm said it will use the latest funding round to help fuel expansion of its travel and spendmanagement solutions. The firm said it will use the latest funding round to help fuel expansion of its travel and spendmanagement solutions.
“Concur TripLink with TripIt Pro is the preferred solution for customers who aren’t a fit for Concur Travel, an online booking tool.” ” Separate reports in Skift on the same day said that SAP Concur rebuffed a buy-back offer from Hipmunk’s founders, Adam Goldstein and Steve Huffman.
In B2B FinTech, spendmanagement is a greenfield opportunity as innovators explore how to help corporates understand the nuances of how money flows out of the enterprise. Historically, said Airbase CEO Thejo Kote, finance and accounting teams have been forced to work around the friction of a fragmented spend ecosystem.
Travel and expensemanagement firm Concur has added new features to its solution empowering employers to gain a new level of transparency over where their employees are while on business trips. Reports on Friday (Oct.
5), highlighting the need for CFOs and other financial managers to embrace travel and expensemanagement technology to keep up with shifts in employee spend habits. Concur is looking to expand the capabilities of its own travel and expensemanagement solution.
Corporate expensemanagement firm Chrome River is collaborating with India-based travel company Yatra , the companies announced on Monday (May 14). India’s expensemanagement market is ripe for disruption, according to Yashwanth Madhusudan, co-founder and CEO of India industry player Fyle.
Rydoo, the mobile T&E app resulting from a collaboration between Sodexo, Xpenditure and iAlbatros, is integrating its expensemanagement capabilities with Uber. 10) said Rydoo is linking into Uber for Business to streamline corporate travelers’ reimbursement and expense reporting processes.
Expensemanagement firm Coupa is getting closer to the corporate travel space thanks to a new collaboration with Sabre. One of the greatest pain points for business travelers is the time-consuming process of creating expense reports,” stated Coupa Vice President of Technology Partnerships and Corporate Development J.J. “The
On the heels of AirPlus’ partnership with Airbnb to develop a corporate expensemanagement solution, Zorn dove into how an openness to the sharing economy can lead to an openness to virtual payment solutions (and vice versa). “They can’t manage it like they can manage hotels or taxis or flights.”
Spendmanagement firm ExpenseWatch is rolling out a new solution that taps into the commercial card capabilities of PEX. In an announcement Wednesday (June 29), ExpenseWatch and PEX announced the launch of a Visa prepaid card to help companies manageexpenses.
Corporate travel and expensemanagement software provider Expensify is expanding its reach in Southeast Asia through a new collaboration with the region’s leading ridesharing company, Grab. The company’s solution was featured in PYMNTS’ February Workforce SpendManagement Tracker.
But the area of employee spendmanagement is in need of such improvement, says startup Spendesk , that the way businesses use commercial card technology is in need of a change. It’s not too often that the B2B FinTech space sees innovation targeted at commercial cards.
Travel and expensemanagement platform Abacus has announced that it will automatically pull data from American Express card transactions into its portal. 7) said Abacus will streamline and automate the flow of financial data from transactions made with American Express cards into the Abacus platform for spendmanagement.
“Managingtravel and expense constitutes a huge spend for businesses of all sizes, whether domestic or international,” explained Strafford-Taylor, adding that FairFX works with corporations from FTSE 100-listed firms to independent traders. The Prepaid Plan. Industry Shakeup.
Even so, mixing business and leisure while traveling may have a significant impact, researchers said. Spendmanagement can also get tangled, CAPA explained. Most notably, companies often lack clear policy pertaining to bleisure trips, which may lead to potential liabilities for employers.
To provide pandemic-related security functions and rescue services for corporate travelers, Expensify unveiled its Concierge Travel virtual travel assistant, according to a press release.
“We’re helping them spend more efficiently.” ” “The CFO understands that this is not a matter of spendmanagement but rather a matter of managing one of the biggest line items on the corporate P&L,” noted Jonathan Ebinger, BlueRun Ventures general partner, in another interview.
A corporate travel and expensemanagement solutions provider has struck a partnership with ERP software company VAI, according to an announcement on Wednesday (Aug. VAI will now link corporate customers to SAP Concur solutions, including Concur Expense, Concur Invoice and Concur Travel. million deal.
Analyzing the dollars and cents associated with business trips is now a fundamental part of an organization’s travel and expense (T&E) strategy to ensure that it can squeeze every penny in added revenues and profits out of each trip. It’s not an easy feat, however.
Travel and expensemanagement firm Concur is boosting its virtual card support thanks to an expanded collaboration with hotel solutions firm HRS. “This new level of the longstanding partnership between HRS and Concur will enable corporates to streamline the booking and expensemanagement process.”
Corporate travel and expensemanagement has made leaps in adopting new technologies in 2016. Uber, Lyft and Airbnb are all taking off in the space, suggesting corporate travelers and their managers are ready to adopt innovations that make their lives easier — both to travel and to manage corporate funds.
An announcement by the companies Thursday (July 26) revealed news that Apptricity is integrating WEX’s corporate payment solutions into its own offering of automated supply chain, travel and expense (T&E) and spendmanagement solutions. “We
Lyft made progress over its rival Uber this year when corporate travel and expensemanagement firm Certify released data that found a 9 percent increase in the percentage of Lyft ride-hailing trips expensed on its platform. “They access the same data, but for a different purpose – but they have a common need.
Uber for Business expanded its expensemanagement capabilities for corporate travelers last March when it announced partnerships with Certify, Expensify and Chrome River, all to automate the capture of ride transaction data for an expense report.
When Tradeshift wanted to enter the mid-market level, it needed to create a business payments and expensemanagement solution with a few characteristics. “These companies typically do most of their spending using credit cards,” she said. “Everybody knows chat. First thing’s first.
The solution aims to enable smaller firms to use virtual cards, and to address the friction linked to use of multiple physical cards, which lead to backups in the reconciliation and expensemanagement process. Once a hotel vendor has accepted the payment, “the card will then become unusable and ‘dead,’ so to speak,” he said.
International companies are pulling back their spend on corporate travel, according to recent analysis. But the latest data from Advito finds the key to corporate travelspend increases. Analysis predicts hotel fares to rise slightly, but airline prices to stay flat for 2017.
Together, the companies said in a press release , they will integrate robotics process automation to generate virtual cards within the WEX platform for corporate spendmanagement. Initially, WEX and Troovo will focus on businesses that need virtual payment solutions for traveling employees, the companies said.
While corporate travel is the second-largest controllable expense category for a corporation, noncompliant travel procurement and rogue spend can derail spendmanagement in the space.
But, Graeme Descoteaux, head of corporate travel at LateRooms.com Business, says the cost of commercial cards — and virtual cards in particular — can also be a barrier to business payers’ adoption.
Oversight Systems has updated its Insights On Demand software-as-a-service (SaaS) solutions to provide managers with quicker ways to identify expense report fraud. In an announcement on Tuesday (Jan.
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