Betterment has appointed TravelPerk to manage business travel for its US-based employees.
With over 800,000 customers and more than $36 billion of assets under management, the digital financial advisor sought a travel management solution that would enable more control over the cost of travel spend as it scales.
Businesses can now set up travel policies that are integrated into the TravelPerk platform, allowing employees to make more informed choices when booking their own travel.
Customised approval processes give companies control when trips fall out of policy. Personalised reporting tools also allow finance teams to track where budget is being spent in real time, reducing the need for lengthy manual processes and improving budget control.
Plus, businesses can get instant invoices after each booking and all travel expenses are easily synced through third party expense management integrations.
Peter Lorimer, Chief Financial Officer at Betterment, said: “With a hybrid workforce and multiple lines of business, our employees are frequently traveling to and from our New York headquarters, to key conferences and trade shows across the country.
“Prior to TravelPerk, employees booked their own travel out-of-pocket and got reimbursed later. This often led to out-of-policy bookings and a lack of proper insight into travel spending for our finance team. With TravelPerk’s reporting and insights feature and the integrated travel policy, we have better visibility into travel spending and better policy compliance.”
Jean-Christophe Taunay-Bucala, CRO at TravelPerk, added: “As an innovator in the fintech space, Betterment has modernised its business travel for employees by eliminating the need for them to pay out-of-pocket. In addition, TravelPerk’s one-click integration with a wide range of expense management and HR tools makes it easy for the company to book and manage expenses all in one place.”