Abacus, a provider of real time expense reporting, today announced the launch of Abacus Travel, its new travel booking platform. With Abacus Travel, customers now have a fully integrated solution that combines customizable travel booking controls with the power of real time expense reporting. Abacus Travel is based on booking technology from NuTravel, which was purchased in 2018 by Certify, Inc., parent company of Abacus and the world’s largest independent expense management company. Abacus Travel is the first significant product launch for the company since it was acquired by Certify.
With Abacus Travel, an employee’s approved booking will immediately turn into an expense within Abacus’ real time expense reporting software. Finance teams gain pre-booking controls with automated policies and immediate visibility into their largest area of employee expenses. Employees get an easy-to-use platform, automated expense creation and faster reimbursements.
“Travel is one of the largest areas of employee expenses, yet many businesses still scramble to enforce travel policies and manage spend effectively,” said Omar Qari, co-founder of Abacus. “With Abacus Travel, finance teams can automate the enforcement of their policies, freeing them up to think strategically about their expenses. Employees also get a streamlined booking and expensing process, all from one intuitive application.”
Business Travelers Get Automated Travel Booking and Expense ReportingAbacus Travel offers a simple user interface in which employees can book a business trip in just a few clicks. Once their travel is booked, the itinerary is created as an expense in Abacus, where the Trips feature keeps track of all travel-related expenses in one dashboard. This makes it easier for employees to reconcile their expenses at the end of a trip, and for finance to monitor and approve employees’ travel costs in real time. No expense report is needed; expenses are tagged and quickly submitted. Employees are reimbursed as soon as the next day.
Finance Teams Gain Deeper Control and Insight into Corporate Travel SpendingFinance teams can configure travel policies across various levels of hierarchy, geography or business units and automatically enforce them within Abacus Travel. Flight, hotel, car and rail search results can be set to only show in policy travel options for each traveler. Finance teams can also set travel bookings to automatically pre-approve if they are completely within policy, or require advanced approvals.
With the introduction of Abacus Travel, Insights, Abacus’ built-in reporting tool, will now be powered by highly accurate, comprehensive travel spending data, making it an even more strategic resource. With just a few clicks, finance teams can see the complete picture of their company’s travel spend, surfacing valuable takeaways such as the cost of visiting certain clients or the most frequently used travel vendors.
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Tags: Accounting, Technology
