TravelBank, a travel and expense management solution for
small- and medium-sized businesses, is launching a new holistic system called
The new product combines three tools in one app-based
interface: an itinerary that integrates all trip information such as
flights, accommodations, ground transportation, meetings and dinner reservations;
an expense tool that tracks spend across all categories and reconciles it with
a pre-approved budget; and a marketplace launching with 30 partners such as
Lyft, Clear, SpacePass and Skyroam.
TravelBank founder and CEO Duke Chung says the new product was built
based on an analysis of current customer’s common business travel practices.
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“We’ve looked at a lot of the expense data that we are able
to capture, and what we’ve realized is that these business travelers are
spending a lot of their travel spend in-destination versus just pre-trip. These
are things like expenses for Wi-Fi, expenses for on-demand ground
transportation services, co-working spaces, food and restaurant spend,” Chung
The SuperItinerary, he says, has been built to provide
assistance throughout a trip. Along with compiling bookings made ahead of time,
it can do things such as notifying the traveler that the security line is long
and asking if they would like to purchase a Clear pass to bypass the line, reminding
travelers to check in for their hotel and surfacing suggestions of things to
do in-destination during free time.
All of those purchases are also captured in the app so they
can be easily loaded into an expense report for reimbursement.
Chung says TravelBank currently has 120,000 users from
20,000 organizations, mostly North America-based small businesses that spend no
more than $10 million annually on travel.