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Top 10 Travel Expense Management Solution Providers 2017

Travel has become an integral and inseparable part of businesses today. With professionals and executives constantly on the move to discharge their duties, travel expenses factor prominently in cost center budgets. However, manual reporting of travel expenses has been extremely challenging for organizations due to loss of documents, usage of spreadsheets and more. The lack of visibility over business trips also delays their approvals, which could be a liability for companies. In order to mitigate these problems, an increasing number of organizations today are seeking to automate the entire process by deploying advanced Travel Expense Management (TEM) software solutions.

The adoption of web-based TEM has proven to be beneficial for organizations. With the ability to obtain quotes from hotel groups and upload invoices online, the time taken for approving the expenses has improved significantly. Also, some of the latest products support the creation of travel itinerary to offer greater clarity into the business trip. This has reduced the time taken for pre-trip authorization substantially. Further, with the scope for monitoring the competitive rates offered by different hotels and airlines, among others, TEM software is instrumental in reducing the cost of business travel. Being able to convert expenses between multiple currencies simplifies the tracking of expenditures through corporate credit cards. While the latest TEM offerings come with numerous features, the cost of processing travel expenses is cheaper when automation is embraced.

In order to help the enterprise CIOs choose the right TEM solution provider, a distinguished panel comprising CEOs, CIOs, analysts and the CFO Tech Outlook editorial board has reviewed companies with proven expertise in assisting enterprises with TEM solutions and services. The panel weighed their ease of deployment and generation of reports, among other capabilities, in order to catalog the finalists. In this edition of CFO Tech Outlook, we present to you the Top 10 Travel Expense Management Solution Providers 2017.

Company Logo Company Name Company Description
Abacus Labs By eliminating the month-end expense report, Abacus turns submitting and approving expenses into a delightful, collaborative experience.
Apptricity A mobile and web software application that simplifies the entire submission, approval and payment process for travel and expenses.
Basware Streamlines travel and expence management processes.
Certify Provides cloud-based travel and expense management solution for organizations of all sizes.
Chrome River Technologies Offers highly-configurable cloud-based expense reporting and supplier invoice automation solutions.
Concur Technologies Developes completely connected spend management solution encompassing travel, expense, invoice, compliance and risk.
Coupa Software Provides cloud-based expense management solution that enhances visibility, compliance and control over expense spends.
DATABASICS A provider of cloud and mobile-based expense reporting and timesheet solutions.
Deem Offers travel and expense management solutions that help enterprises modernize their systems, improve travel management and save money.
Expensify Automating tedious expense reporting tasks in real time and simplifying business expenses management.