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What Does Travel Management Software Cost?
In 2017, the benchmark price for travel management software is an estimated $7.59 per user per month for a basic license. Travel management software can be a stand-alone application or it can be integrated into a company’s infrastructure for a higher price. Thus, prices range widely from $3.30 to $15.00 per user per month. Factors that affect the price for travel management software include the type of license, level of service, features and platform compatibility.
The type of license is the most influential factor that determines price. Vendors price their software using a variety of licenses, which typically reflects the buyer’s frequency of use and budget. For example, small businesses may only use the software 15 times in one month and export data through an Excel document, whereas a large corporation may use the software thousands of times in a month and integrate it into their existing enterprise resource planning (ERP) software. Typically, the number of users in the buyer’s company determines the type of license. Small companies can expect to pay more per user per month but less overall, whereas large companies will pay less per user per month, but more overall.
The level of service also influences the end price for travel management software. Suppliers pass down the cost of providing a greater level of service to the buyer, such as the costs of training, customer support, installation or integration. As a result, these costs are typically transferred to buyers in the form of higher prices. However, depending on whether suppliers offer related goods and services, buyers may be able to bundle services at a discounted rate or free of charge. In general, however, the more services that are included in the software purchase, the higher the end price will be.
The features that are offered with the software also influence price. Features that are included in the benchmark price and those that are available for an additional fee vary among suppliers and include e-receipts, travel planning and performance reports. Some vendors charge separately for additional features, such as policy management and enterprise integration. As a rule, travel management software with a greater number of features is more expensive than software with limited features.
One of the key uses of travel management software is to keep track of expenses in a more efficient way than through the collection of receipts. Vendors that offer application support aimed at a variety of platforms, specifically mobile devices like smartphones, charge higher prices than those that do not. Suppliers must acquire additional resources, such as hiring additional iOS and Android software engineers, to provide software and support for a mobile application.
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