Expensify to Add Travel Features to Financial Management Platform
Expensify will add travel booking and management capabilities to its financial management platform for expenses and corporate cards.
The new Expensify Travel will begin rolling out next week in the Expensify web and mobile apps and will later be integrated into the new chat-based super app, New Expensify, the company said in a Wednesday (May 8) press release. A waitlist is available.
“Book your trip in minutes, we’ll handle the rest,” Expensify CEO David Barrett said in the release. “We’ve made it effortless for members to search and book flights, hotels, cars and trains — all at the most competitive rates available.”
Built on top of Spotnana’s cloud-based Travel-as-a-Service platform, Expensify Travel provides access to global travel inventory, lower fares, 24/7 Expensify support and the ability to assign virtual travel cards to employees, according to the release.
The platform also provides self-service capabilities for managing flight changes, cancellations, unused ticket credits and other tasks related to travel, the release said.
“We’re delighted to partner with Expensify and provide the core infrastructure that powers their Expensify Travel,” Sarosh Waghmar, founder and CEO of Spotnana, said in the release. “Through our partnership, Expensify has created a one-stop shop for travel and expense management for their customers with a seamless user experience.”
Traditional methods of managing travel expenses are being replaced by digital solutions that speed up reimbursement times and minimize the risk of human error, Edwin Poot and Jonathan Vaux, the global chief technology officer and head of propositions and partnerships, respectively, at Thredd, told PYMNTS in an interview posted in April.
The new Expensify Travel will join some other features added to the financial management platform in recent months.
On May 1, Expensify added expense tracking features for self-employed professionals to New Expensify. These features help these professionals track all types of business spend, categorize the expenses and share them with their accountant for tax purposes.
In December 2023, the company added a budgeting tool that allows admins to set monthly or annual budgets for teams, departments, employees or the company as a whole. This tool also provides both admins and individuals with notifications on spending progress so that they are less likely to be surprised by overspending.
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