For the first time, solution offers both real-time visibility for CFOs and the experience employees today expect from tech tools
LONDON, 7 December 2021 — TripActions, the only all-in-one travel, corporate card, and expense management solution, today announced the launch of TripActions LiquidTM in Europe. Through its partnership with Stripe, TripActions Liquid is now the first — and only — fintech-powered travel and expense management offering that can support card issuance in multiple currencies. The expansion increases TripActions' ability to provide an end-to-end solution for global companies of all sizes while eliminating expense reports for employees and automating the entire expense management process for customers.
With world-class partners that include Stripe, Visa, Modern Treasury, and Plaid, TripActions is positioned to replace legacy, disparate travel and expense solutions, completely revolutionising the entire T&E stack.
“TripActions Liquid has averaged 34% monthly growth in transaction value this year — companies clearly can no longer afford to use those antiquated, analog systems,” says TripActions co-founder and CEO, Ariel Cohen. “It’s imperative to have real-time visibility into spend, carbon consumption, and employee safety. No other company is able to offer the full end-to-end travel, corporate card, and expense management capabilities of TripActions Liquid. We’re really in a league of our own in this market.”
With its broadening international footprint, TripActions Liquid gives finance teams real-time spend visibility and control over global spend, empowering them to drive cost-savings, productivity, and compliance. Policy controls are embedded into smart corporate cards issued by Stripe, automating expense management from swipe to reconciliation, from home office to hotel room.
"Expense reports are a thing of the past. What TripActions Liquid has brought to the market is the end of expense reports," says Joel Jeselsohn, Chief Financial Officer at Berlin-based Relayr, a leading EU-based solution for risk-free digital transformations. "Thinking about the reporting capabilities of other solutions, it’s night and day. TripActions Liquid is superior to legacy systems."
Legacy options require finance teams to review every expense transaction. Powered by physical and virtual corporate smart cards, with TripActions Liquid policies are pre-set, reducing reporting hours up to 66% and reconciliation time up to 95%. For end-to-end TripActions enterprise customers, reconciliation time is reduced from weeks to hours. Additional benefits include:
- Spend controls: Set spend controls upfront to prevent out-of-policy spend before it happens. With a custom policy builder, admins can tailor spend controls based on role, expense category, business context, and more — automating and minimizing the number of transactions that finance teams need to review and approve.
- Smart cards: Give employees a simple way to pay for what they need and eliminate expense reports. With smart virtual and physical cards, issued by Stripe in USD, EUR, or GBP, policies are built-in to ensure responsible spending and automated expense reporting for authorised expenses, whether employees are paying for travel booked on TripActions, routine expenses, spot purchases, or recurring subscriptions.
- Expenses and reimbursements: Eliminate the hassle of expense reporting for out-of-pocket business expenses (cash, mileage), and deliver rapid reimbursements. Employees receive rapid reimbursements, executed by TripActions’ partner banks, through direct deposit when they connect the app to a European bank account that supports SEPA or BACS transfers.
- Automatic approval workflows: Configure TripActions Liquid to flag transactions that require attention and automatically approve and reimburse everything else.
- Mobile receipt scanner: Extract relevant data from receipts and auto-populate expense reports in an instant.
- Personal card import: Connect personal card accounts and easily import transactions for reimbursement, eliminating the need to add expense details.
- Rapid reimbursement: Get funds directly deposited into the employee's bank account through partner banks within 1–2 business days via SEPA and BACS for auto-approved expenses.
- Calendar sync: Automatically populates attendees when Liquid app is linked to a user’s calendar, eliminating one more step for auto-reconciliation.
- Automated reconciliation: Accelerate month-end close with receipts and payment details captured automatically, streamlining reconciliation from days to minutes — while helping to reduce the environmental impact of paper consumption.
- Spend reporting: Get a real-time view of all business spend in one place to stay on top of what’s been spent, monitor trends, and take action if costs get out of line.
"With 39 offices in 30 countries, Teads—The Global Media Platform—needed a truly global, modern tool that simplified travel and expense,” says Anush Jeunet, Corporate Buyer at Teads. “Providing straightforward solutions alongside quality support is essential for a rapidly growing business and TripActions has absolutely delivered on those requirements, especially as international business opens up once more."
The combination of TripActions’ user experience and innovation, coupled with its fintech-powered spend management solution, TripActions Liquid, has created a cloud-based powerhouse that offers unmatched visibility, cost control, and efficiency as the company revolutionises the entire corporate travel, expense, and spend stack.
"TripActions Liquid is a powerful example of the possibilities enabled by Stripe's global financial infrastructure," said Eileen O'Mara, EMEA Revenue & Growth Lead at Stripe. "Running smart corporate cards with programmatic spending controls and reconciliation across multiple countries was unfathomable just a few short years ago. We're thrilled to see TripActions build its Liquid product on Stripe and accelerate its global expansion."
TripActions has raised nearly $1.3 billion in funding to date. For more information, visit www.tripactions.com. To watch a video on TripActions Liquid, visit https://tripactions.com/video/tripactions-liquid-no-expenses. To join the TripActions team, visit www.tripactions.com/careers.