The best thing to happen to Finance since the spreadsheet, TripActions Liquid™ ends the frustrations of expense management and eliminates the need for expense reports and reconciliation
PALO ALTO, CA, October 6, 2020 – TripActions, the leading corporate travel and expense management platform, announced from its virtual T&E summit TRAVERSE 20, new innovations to TripActions Liquid, the modern business spend management platform. Championing a new era of ‘No Expenses’, TripActions is putting an end to the hassles and compromises forced on finance leaders, travel managers and employees by outdated, legacy expensing tools and expense management, including the dreaded expense report.
“There isn’t a single person who likes expenses, expense management or expense reports,” said Jim Lundy, Founder, CEO & Lead Analyst, Aragon Research. “The concept of expenses, conceived decades ago, is no longer relevant today given advancements in business, technology and user experience. Just as TripActions disrupted corporate travel with a better experience for business travelers, finance leaders and travel managers, TripActions is revolutionizing business spend management through machine learning and AI-driven automation that is leading the market.”
TripActions Liquid is the modern, smart spend management solution that provides employees with a refreshingly easy way to pay for what they need while giving companies one place to better control, manage and track business spend. With physical and virtual cards, smart approval workflows, automated expensing and centralized billing, TripActions Liquid streamlines the entire process for business spend, including finally ending the need for traditional expense management and the expense report.
“Expenses can be burdensome to both finance teams and the employees submitting them,” said Ryan Meonske, Head of Strategic Sourcing, Databricks. “That’s why we are thrilled about TripActions Liquid’s mission to modernize financial processes by fusing payments and expense management into one central solution. The revolutionary product TripActions Liquid has built will help Databriclks gain better visibility into our air spend and accelerate the reconciliation process—all while saving employees the time and hassle of expensing.”
“In today’s digital age, employees are making larger and larger purchasing decisions on behalf of their company, whether that be with travel, software, or advertising, and as a result spend has become more distributed, hindering Finance visibility until far after the fact,” said Michael Sindicich, GM, TripActions Liquid. “Until now, CFOs have been forced to bandage together outdated expense tools and processes to attempt to gain back control with little success. TripActions Liquid centralizes spend, finally giving CFOs and their finance teams complete visibility and real-time control while empowering employees to spend within policy to move their businesses forward.”
TripActions Liquid now delivers a better way for companies to cover online, on-the-go, spot purchasing, recurring subscriptions, and the rare out-of-pocket spend for everything a business and its employees need to spend money on—like travel, association dues, training courses, advertising and more. TripActions Liquid helps companies empower a distributed workforce to spend company money in a way that is simple and efficient while also maintaining visibility and close control:
- Employees are empowered to pay for the things they need and are approved to buy using virtual or physical cards; TripActions Liquid also takes care of out-of-pocket expenses and even reimburses employees within a day.
- Managers only need to focus on approvals for flagged transactions thanks to smart auto-approval technology.
- Accounting teams can accelerate month-end close with receipts and payment details captured automatically, streamlining reconciliation to minutes so they can focus on higher value, strategic initiatives.
- Finance teams can finally gain real-time visibility and control into all spend for accurate budgeting and forecasting.
"TripActions Liquid is delivering a great experience for our employees, finance and accounting alike by streamlining the entire expensing process," commented Michael Chan, Procurement Operations Manager, Lyft.
TripActions is the only end-to-end T&E management platform for businesses large and small to easily and efficiently manage the entire T&E and business spend ecosystem. TripActions delivers a comprehensive, unified solution for travel, payments, expense management, corporate cards and reconciliation—all from a single trusted partner.
“The nexus of travel, expense and payments presents difficult operational problems that change rapidly with market dynamics. While expense management technologies have taken large leaps forward in terms of usability and accuracy over the past few years, there is a constant desire, among end users, for more innovation from enterprise travel and expense software vendors,” said Kevin Permenter, Research Manager for Enterprise Applications, IDC. “TripActions has prioritized innovation with its modern approach to T&E management and their rapid innovation continues to add more and more value to its users, customers and partners.”
Join the world’s most innovative companies, from SMBs to Fortune 500 enterprises, already leading the charge to a world with “No Expenses” using TripActions Liquid, including Zoom, Lyft, Databricks, SoundCloud, Toast, Spin, Foursquare, letgo, Gusto, Celonis, Amplitude and many others. Switch to modern T&E management with TripActions so your employees can focus on their best work, not paperwork.
Fast becoming the default for corporate travel and expenses, TripActions is the leading, cloud-based T&E platform that combines industry-leading tech with best-in-class travel agency service. Trusted by more than 4,000 companies globally, TripActions empowers organizations with real-time data to make business decisions, paired with flexible T&E management tools that enable them to adapt to changing market conditions to keep traveling employees safe, control costs, and save money. Learn more at www.tripactions.com.
About TripActions Liquid
TripActions Liquid™ is a modern corporate payments and expense management solution that provides employees with a refreshingly easy way to pay for what they need while giving companies one easy place to control, manage and track spend. With physical and virtual cards, smart approval workflows, automated expense reports and centralized billing, TripActions Liquid streamlines the entire business spending process.