Choosing the Best Business Travel Expense App: Top 5 Picks of 2024

Managing business travel expenses is often more of a headache than it needs to be.

Whether it’s hunting down lost receipts, dealing with slow reimbursements, or just trying to stay on top of it all, it’s easy to feel overwhelmed.

In this article, we’re diving into five business travel expense apps that can actually make a difference in 2024.

What is a Business Travel Expense App?

A business travel expense app is a software tool designed to help companies track, manage, and report expenses related to business travel.

These apps streamline the process of recording expenses, managing receipts, and ensuring compliance with company policies, making it easier for businesses to control costs and for employees to get reimbursed quickly.

Why Should My Company Use a Business Travel Expense App?

Using a business travel expense app helps to automate and simplify the expense management process.

It reduces the likelihood of errors, speeds up reimbursement, and provides real-time insights into travel spending.

This not only saves time but also helps your company stay within budget and improve overall financial management.

Here’s how:

• Stay on budget: The right app helps you track business expenses in real time, so you always know where your money is going.

• Streamline reimbursements: By automating the process of collecting and submitting receipts, these apps make it faster and easier for employees to get reimbursed.

• Enforce company policies: With built-in features, the app ensures that employees stick to the company’s travel expense guidelines.

• Improve financial reporting: Detailed reports generated by the app give you a clear picture of your spending, making it easier to spot trends and find areas to save money.

Common Challenges in Managing Business Travel Expenses

Managing business travel expenses can be tough, especially for companies trying to keep costs under control while ensuring smooth operations.

Even with the best intentions, many businesses face common challenges that can make tracking and managing these expenses more difficult than it needs to be.

Here are some of the most common challenges:

1. Manual Data Entry

One of the biggest headaches in managing travel expenses is the reliance on manual data entry.

When employees have to record expenses by hand, mistakes are almost inevitable. These errors can lead to inaccurate reporting and budgeting problems down the line.

2. Lost Receipts

It's easy for receipts to get lost during a busy business trip.

Without receipts, tracking expenses accurately becomes a challenge, leading to delays in reimbursements and potential disputes.

3. Slow Reimbursement Processes

When expenses aren’t tracked efficiently, the reimbursement process can drag on, causing frustration for employees.

Delays in reimbursements can also affect employee satisfaction and productivity.

4. Policy Compliance

Ensuring that all employees adhere to company travel expense policies is another common issue.

Without the right tools, it’s difficult to monitor and enforce these policies, leading to overspending and non-compliance.

5. Lack of Real-Time Tracking

Many companies struggle with the lack of real-time tracking for business travel expenses.

This makes it hard to get an accurate picture of what’s being spent until after the trip is over, which can lead to budget overruns.

Key Features to Look for in a Business Travel Expense App

Choosing the right business travel expense app can make a big difference in how efficiently your company manages travel costs.

But with so many options out there, it’s important to know what features to look for.

The best app for business travel expenses should offer a range of tools that simplify the process and help you stay on top of your budget.

Here are the key features to consider:

Automated Expense Tracking

One of the most valuable features in a business travel expense app is automated expense tracking.

This means the app can automatically capture and categorise expenses, reducing the need for manual data entry and minimising errors.

It helps keep everything organised and ensures that nothing slips through the cracks.

Receipt Scanning & Storage

The best apps offer built-in receipt scanning, allowing users to quickly snap a photo of their receipts and store them digitally.

This eliminates the hassle of keeping track of paper receipts and makes it easy to access them when needed for reimbursement or tax purposes.

Mileage Tracking

For businesses with employees who frequently drive for work, mileage tracking is essential.

The best apps offer GPS-enabled mileage tracking that:

• Automatically logs distances travelled,

• Calculates the associated costs,

• And integrates this data into the overall expense report.

This feature not only saves time but also ensures accurate reimbursement for travel-related mileage.

Carbon Reporting

As sustainability becomes increasingly important, carbon reporting is a feature to consider.

A good employee expenses app will track the carbon footprint of your business travel, providing insights into the environmental impact of flights, car rentals, and other travel-related activities.

This feature helps companies monitor and reduce their carbon emissions, aligning travel practices with corporate sustainability goals.

Real-Time Expense Reporting

Real-time reporting is crucial for staying on top of your travel budget.

A good app provides instant updates on spending, so you can monitor expenses as they happen.

This feature helps you avoid budget overruns and allows for more accurate forecasting.

Multi-Currency Support

For businesses with international travel, multi-currency support is a must.

The app should automatically convert expenses into your preferred currency, using up-to-date exchange rates.

This makes it easier to manage costs across different countries and ensures accurate reporting.

Integration with Accounting Software

Seamless integration with your existing accounting software is essential.

The best apps can sync with popular accounting platforms, making it easy to transfer data and generate reports.

This reduces the time spent on manual data entry and helps keep your financial records accurate and up-to-date.

Policy Compliance & Approval Workflows

Ensuring that all expenses comply with company policies is another key feature.

The app should allow you to set up approval workflows, flag non-compliant expenses, and ensure that all spending aligns with your company’s guidelines.

This helps maintain control over spending and ensures that all expenses meet your company’s guidelines.

User-Friendly Interface

A user-friendly interface is crucial for encouraging adoption among employees.

The app should be easy to navigate, with clear instructions and intuitive features that make it simple for anyone to use, regardless of their tech skills.

Top 5 Business Travel Expense Apps in 2024

Managing business travel expenses doesn’t have to be complicated. The right app can make tracking, submitting, and approving expenses much simpler.

Here’s a quick overview of five top apps for 2024 that can help businesses of all sizes:

1. ExpenseIn: The go-to app for businesses of all sizes, offering an all-in-one solution for tracking, submitting, and approving expenses with ease.

2. Expensify: Automate your expense process from start to finish with this user-friendly app, designed to save time and reduce manual tasks.

3. Concur: A powerful option for large companies, integrating seamlessly with financial systems for real-time expense management.

4. Zoho Expense: Ideal for growing businesses, this app handles travel bookings, expenses, and reimbursements all in one place.

5. Rydoo: AI-powered and efficient, Rydoo automates expense management while providing real-time insights and ensuring compliance.

Each of these apps has something unique to offer, making it easier to manage your business travel expenses.

1. ExpenseIn (Best Overall Choice)

If you’re looking for the best app for business travel expenses, ExpenseIn stands out as the top choice.

This comprehensive business travel expense app brings everything you need to manage, approve, and report on expenses into one easy-to-use system.

Whether you’re a small business or a large enterprise, ExpenseIn offers the scalability you need, with flexible pricing plans that make it an economical choice.

Key Features:

• Automated expense claims: ExpenseIn automates the entire expense claim process, from submission to approval and reimbursement. This automation drastically reduces the manual effort involved, speeding up workflows and making the process more efficient.

• Real-time receipt scanning: With advanced receipt scanning technology, ExpenseIn captures and categorises receipt data instantly. This feature simplifies record-keeping and ensures that all expenses are accurately tracked and reported.

• Automatic mileage & carbon emission calculations: ExpenseIn’s automatic mileage tracking and carbon emission reporting are standout features for businesses whose employees often travel for work. This integration makes it easy to track travel distances and their environmental impact.

• Customisable approval workflows: Tailor the approval process to fit your organisation’s needs, ensuring that every expense is reviewed and approved efficiently, maintaining compliance with company policies.

• Real-time reporting & analytics: Gain deep insights into your company’s spending patterns with powerful real-time reporting tools. This feature helps you make informed financial decisions and optimise your travel budget.

• Seamless integration: ExpenseIn easily integrates with popular accounting and ERP systems like QuickBooks, Xero, and Sage, ensuring that your financial data is always up-to-date and accurate.

Testimonials:

“It has massively cut down on the paperwork and processing of entries.”

“It’s feature-rich yet very intuitive to use. The pricing structure makes it both scalable and value for money.”

"We are now saving the company hours of processing time every month.”

Pricing:

ExpenseIn offers pricing plans that are flexible and perfect for growing businesses.

You’re only billed for the employees who actually use the app each month, regardless of how many expense claims they make.

What’s more, there are no extra charges for support. All users can access help through live chat, phone, or email, so as your business grows, your support costs stay clear and predictable.

2. Expensify

Expensify is one of the most popular business travel expense apps on the market, known for its robust features and ease of use.

It’s a great choice for businesses of all sizes, offering a range of tools that help streamline the expense management process.

Key Features:

• Receipt scanning: Users can take a photo of their expense receipts, and Expensify’s SmartScan feature automatically captures and categorises the details for inclusion in an expense report.

• Credit card import: The app allows for the import of transactions from both personal and business credit cards, automatically matching these with receipts and coding them appropriately.

• Customisable workflows: Expensify enables users to set up approval workflows tailored to their organisation’s structure, with options to flag certain expenses for review based on custom policy rules.

• Integrations: Expensify integrates with various accounting, HR, and corporate travel management systems, facilitating smoother audits, tax preparation, and overall financial management.

• Delegated access: The app allows designated colleagues to create, submit, or approve reports on behalf of others, with the option to provide auditors with review-only access to expense data.

• Custom expense reporting: The app provides tools for building custom reports to meet specific financial reporting needs.

Pricing:

Expensify offers various pricing plans that are flexible and designed to scale with business needs.

3. Concur

Concur is a comprehensive business travel expense app designed to help businesses streamline their expense management processes.

It provides tools that facilitate the tracking, processing, and reporting of expenses, making it easier for finance teams to manage costs and ensure compliance with company policies.

Key Features:

• Expense automation: Concur automates the entire expense management process, from claim submission to payment and auditing. This reduces the time and effort needed to manage expenses and helps prevent errors.

• Centralised expense data: The app brings all expense data into one place, making it easier to enforce and adjust spending policies and gain a clear overview of company finances.

• Receipt capture & report processing: Concur automatically captures receipts and processes expense reports, helping to streamline back-office operations.

• Integration with finance systems: Concur integrates with a wide range of ERP, CRM, HR, and accounting systems, allowing businesses to connect their expense data with existing financial processes.

• Smart dashboards & analytics: The app offers smart dashboards and data analytics, providing insights into spending patterns and helping companies make informed financial decisions.

Pricing:

For detailed pricing information, it’s best to contact Concur directly to get a quote that’s specific to your company’s needs.

4. Zoho Expense

Zoho Expense is a business travel expense app designed to simplify travel booking, expense reporting, and cost control for growing businesses.

It provides a comprehensive platform to manage all aspects of employee travel expenses, from pre-trip approvals to reimbursements and detailed analytics.

Key Features:

• Travel management: Manage all stages of business travel, including booking, pre-travel approvals, and tracking during the trip.

• Expense reporting automation: Automate the entire expense reporting process, allowing employees to report expenses on the go, streamline approvals, and ensure timely reimbursements.

• Corporate card reconciliation: Automatically reconcile company credit cards by fetching card feeds directly from providers.

• Spend control: Set up budgets, enforce spending policies, and configure purchase approvals to prevent overspending and unauthorised purchases.

• Analytics & reporting: Access over 25 analytic reports on expenses, travel, cards, and reimbursements to monitor spending trends and financial efficiency.

• Audit & compliance: Utilise AI-driven fraud detection for more accurate audits and stay compliant with local tax regulations.

Pricing:

Zoho Expense offers flexible pricing plans to cater to different business needs.

Zoho Expense also offers add-ons such as premium support and expert onboarding to enhance the user experience and streamline the implementation process.

5. Rydoo

Rydoo is a business travel expense app that leverages AI to automate the expense management process from claim submission to reimbursement.

It offers a centralised platform for real-time visibility and control over company spending, aiming to simplify and streamline financial operations for businesses of various sizes.

Key Features:

• AI-powered expense monitoring: Automatically analyses expenses to detect duplicates, fraudulent claims, and non-compliant items, reducing the need for manual checks.

• Customisable policies: Allows configuration of spending controls, predefined approval workflows, and automated expense reconciliation to align with company policies.

• Receipt scanning: Users can capture receipts via a mobile app, which auto-populates details such as merchant, amount, date, VAT, country, and currency with high accuracy.

• Instant approval: Facilitates real-time approval of expenses, providing access to receipt copies and ensuring adherence to policies.

• Real-time reporting: Offers immediate insights into expenses, enabling efficient tracking and management of company spending.

• Mileage management: Automates calculations for allowances and mileage ensuring compliance and accuracy.

• Automated reconciliation: Matches expenses from credit card transactions to minimise manual reviews and improve accuracy. Also offers integrated Rydoo Expense Cards to eliminate reconciliation needs.

• Integrations: Connects with over 35 travel, HR, ERP, and accounting tools to ensure synchronisation across systems.

Pricing:

Rydoo offers several pricing plans to accommodate different business needs.

Rydoo also provides add-ons which can be included in certain plans or added separately based on business requirements.

How to Choose the Best Business Travel Expense App for Your Company

Choosing the right expense management software can make managing travel costs much easier for your company.

Here’s a straightforward guide to help you pick the best app for business travel expenses that fits your needs:

Step 1: Identify Your Needs

Start by understanding what your company needs from a travel expense app.

Think about how often your employees travel, the types of expenses you need to track, and any important specific features, like multi-currency support or carbon reporting.

Write down these needs to keep them top of mind.

Step 2: Focus on Essential Features

Look for an app that offers key features like the features listed earlier in this article. These tools will help you stay on top of your travel budget and simplify the expense process.

Make a checklist of must-have features to compare different apps.

Step 3: Check for Integration

Ensure the app can easily connect with your current accounting software.

This will save you time and reduce errors by allowing data to flow smoothly between systems.

Verify that the app supports integration with the tools you already use.

Step 4: Prioritise Ease of Use

Choose an app that’s easy for your team to use.

A simple, intuitive interface will make it easier for employees to track and submit their expenses, leading to better adoption and fewer mistakes.

Test the app yourself or ask for a demo to see how user-friendly it is.

Step 5: Ensure Policy Compliance

Look for an app that helps enforce your company’s travel policies.

Features like approval workflows and compliance checks will ensure that all expenses follow your guidelines.

Set up these workflows in the app to keep your expenses under control.

Step 6: Think About Scalability

Pick an app that can grow with your business.

As your company expands, your travel needs might change, so choose an app that can handle more users, more expenses, and more complex features down the road.

Ask the provider about their scalability options.

Step 7: Balance Cost & Value

Don’t just look at the price - consider the value the app brings to your company. A more expensive app might offer features that save you time and money in the long run.

Compare the costs and benefits of each option to find the best fit for your budget.

Step 8: Look for Good Support

Make sure the business expense tracker app provider offers reliable customer support and training.

Whether you’re onboarding new users or need help with an issue, having access to support can make a big difference.

Check reviews or ask about their support services before making a decision.

Simplify Your Business Travel Expenses

Handling business travel expenses can quickly become a headache, with all the paperwork, lost receipts, and delays in reimbursements.

The right app can make a huge difference by simplifying these tasks, keeping everything organised, and giving you a clear picture of your spending.

ExpenseIn is a solid choice for businesses looking to take the stress out of managing expenses. It’s designed to help companies of all sizes streamline their processes, cut down on errors, and stay on top of their finances.

If you’re ready to make managing travel expenses easier, consider trying ExpenseIn. Book a demo and see how it can help your business run more smoothly.