Product Overview of TravelBank
TravelBank is a comprehensive corporate travel and expense management platform designed to streamline and optimize business travel, expense tracking, and financial management for organizations of all sizes, including startups, SMBs, mid-market companies, and enterprises.
Key Functions
- Travel Management: TravelBank offers a unified platform where employees can book flights, hotels, cars, and other travel arrangements. It integrates with major airlines through NDC (New Distribution Capability) and provides access to over 1 million hotel properties, along with negotiated corporate rates typically reserved for large corporations.
- Expense Management: The platform includes robust expense tracking software that enables easy capture of expenses, automated approval flows, and seamless reporting. Employees can submit expense reports with a single tap, and managers can approve or reject reports from any device, with the option to reimburse employees via direct deposit within 24 hours.
- Payment Processing and Card Management: TravelBank allows users to sync transactions from over 48,000 personal and corporate cards and banks, automating the reconciliation process. It also supports multi-currency transactions, making it suitable for global businesses.
Key Features
- Booking Management: Employees can book travel, accommodations, and related services through a single, user-friendly interface.
- Itinerary Creation and Management: The platform generates and manages itineraries, ensuring all travel details are organized and accessible.
- Automated Approval Flows: TravelBank automates the approval process for travel bookings and expense reports, increasing compliance with company travel policies and reducing administrative burdens.
- Reporting and Analytics: The platform provides real-time insights and centralized reporting, allowing businesses to monitor and control their spend effectively. Historical data can be used to forecast future spend and improve employee behavior.
- Rewards and Incentives: TravelBank offers optional rewards programs to incentivize employees to book more cost-effective travel options, helping businesses save on travel expenses.
- Customer Support: The platform is backed by 24/7 customer support available via phone, chat, Slack, or email, ensuring assistance is always available for travel-related issues.
- Mobile Access: TravelBank is accessible on both Android and iOS platforms, allowing employees to manage their travel and expenses on the go.
- Customizable Templates and User Permissions: The platform offers customizable templates and user permissions, enabling businesses to tailor the system to their specific needs and ensure that only authorized personnel have access to sensitive information.
- Integration with Third-Party Services: TravelBank integrates with various third-party services, enhancing its functionality and allowing for a more seamless user experience.
Additional Benefits
- Supplier Management: The platform includes tools for managing suppliers, ensuring that businesses can negotiate the best rates and services.
- Inventory Management: TravelBank helps in managing inventory related to travel accommodations and services.
- Customer Relationship Management (CRM): It includes CRM features to help businesses manage their relationships with clients and suppliers more effectively.
In summary, TravelBank is a powerful tool that combines travel booking, expense management, and payment processing into a single, intuitive platform. Its advanced features and functionalities make it an ideal solution for businesses looking to streamline their corporate travel and expense management processes, enhance compliance, and reduce costs.