TravelBank vs Visual Lease

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Our analysts compared TravelBank vs Visual Lease based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.

Product Basics

TravelBank is a cloud-based expense and travel solution that helps small and mid-sized businesses control spend, track expenses and book travel. It provides automated expense reports and direct deposit reimbursements while managing flight, accommodation and other travel expenses. It gives users the freedom to either upload expense receipts through a mobile phone camera or enter them manually. Users get multi-currency support and can sync credit cards and bank accounts to expedite reimbursements.

It enables users to book flights at corporate rates and prompts them to use less expensive services. It also calculates savings based on employee purchases. The mobile application is compatible with iOS and Android. It seamlessly integrates with third-party accounting applications like Quickbooks, Bill.com, Xero and NetSuite.
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Visual Lease provides a comprehensive software platform designed to assist businesses with lease accounting and administration. The software is particularly beneficial for companies managing multiple or complex leases, offering a centralized system to track and organize lease data. Visual Lease helps streamline lease management tasks, improve compliance with accounting standards, and reduce overall lease costs.

Key features include lease payment tracking, maintenance scheduling, report generation, and compliance monitoring. The software's pricing falls within the mid-range for similar products and offers various payment options. Customer support is also highly regarded. Visual Lease integrates with other financial systems, providing a seamless experience for managing lease accounting alongside other financial processes.

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24/7 Live Support

Product Insights

  • Quicker Employee Reimbursement: Pay for employees’ out-of-pocket expenditures quicker than manual processes. Give them the freedom to submit a report automatically to concerned persons for approval. Automatically reimburse correct amounts to the payroll. Eliminate the possibility of errors and delays while boosting employee satisfaction.  
  • Minimize Processing Cost And Time: Eliminate costs associated with employees and managers by manually matching amounts or searching for receipts. Save time by automating sending reports for approval, flagging potential out-of-policy expenses and submitting approved reports for payments. Consolidate expense management, corporate travel and card management into one solution. Run accounts payable reports on time instead of waiting for them to be routed and approved.  
  • Boost Operational Efficiency: Bill expenses directly to clients to ensure accuracy to maximize cash flows. Integrate with time tracking, ERP, accounting and project management tools to simplify approvals and reporting. Give employees the time to focus on value-added tasks instead of mundane, error-prone and time-consuming reports. 
  • Ensure Expense Policy Enforcement: Enforce custom rules tailored to the business and ensure that employees are up to date with new expense policies and tax changes. Flag out-of-policy travel expenses and eliminate the possibility of expense fraud like split claims, deviations from the norm or altered receipts. 
  • Increase Compliance: Stay compliant with local, state and federal tax agencies. Categorize and tag expenses automatically based on past entries and credit card statements. Get easily accessible electronic copies of reports and receipts, which can be helpful during audits.  
  • Improve Visibility: Get compiled employee expense data on the dashboard and deliver it in a digestible visual format using charts and graphics. Check metrics to understand spend per employee or the average time it takes to approve expense reports. 
  • Manage Digital Receipts: Automatically capture receipts digitally and parse them to create expense report entries. Digitally manage receipts by dragging and dropping from the desktop or using mobile phones. 
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  • Supervise Leases: Keep leases centralized in one location, facilitate operations and pinpoint savings for every lease with the lease management module. 
  • Simplify Reporting: Leverage more than 100 pre-built templates to generate reports with ease or create reports from scratch with the reporting generator, providing users with greater customization options. 
  • Compliance Assurance: Leverage easy calculations to guarantee regulatory compliance throughout all stages of the lease process, such as modification, impairment, termination, abandonment and more. 
  • Flexible Data Transfer:  Implement lease data across different companies with protected auditable file transfers and pliant application programming interface (API). 
  • Centralized Financial Management: Merge every crucial financial system, so every piece of data needed is in one place with automatic calculating. 
  • Modifiable: Utilize tailored reports, infinite fields and dashboards to meet individualized organization requirements. 
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  • Quick Scan: Autocomplete receipts in a matter of seconds. Allow employees to sync credit cards for instant scanning and quicker approvals and reimbursements. 
  • Currency Conversion: Convert 150 currencies to USD automatically for international traveling. Avoid being charged extra fees for currency conversion on credit card statements. Reduce refunds and chargebacks and ensure consistency in pricing displays.  
  • Expense Report: Automate expense reports and boost visibility into business spend with one-click approval. Take a photo of the receipt and let the scanning technology pick up the details and auto import expenses. Sync cards to pull transactions directly into expense reports. Automatically import transactions from over 48000 personal, corporate cards and banks. Edit expense details with a single click. Submit expense reports and automatically generate a PDF copy. Forecast future trends and enhance employee behavior by using historical data. Get real-time insights and improve visibility. Ensure seamless integration with leading third-party applications like QuickBooks and Bill.com to map categories and synchronize expense reports, reimbursements and corporate card data. 
  • Card Management: Automatically sync transaction and card information. Check which transactions have or haven’t been submitted by reconciling credit card information. Gain visibility into every transaction and monitor expense compliance by syncing corporate cards. Manage spend from a single platform by integrating with the bank of preference. Automatically sync transactions and purchasing information into expense management. Eliminate end-of-month headaches by staying on budget with the reconciliation process. Track transactions and compliance in real time within the management dashboard. Get support for and import transactions from over 48,000 personal and corporate cards and banks. 
  • Corporate Travel Management: Empower employees to make better decisions by rewarding them for smart spending. Save on inventory rates by gaining access to negotiated rates otherwise reserved for large corporations. Get 24/7 support from a dedicated team of travel agents via chat, phone, email or Slack. Gain access to over 500,000 hotel properties and home-sharing options. Get alternative lodging options to boost flexibility and savings for travel programs. Get access to a list of curated flight bookings with a special corporate rate for business travel flight bookings. Search and reserve pick ups at the airport from desktop or mobile apps.  
  • Premium Insights: Monitor trends, spend and leakage on a user-friendly, fully customizable dashboard that boosts visibility. Customize and export data to track and report on every metric. Monitor real-time spend and compliance with employee spending against the company policy. Automate alerts and set up trigger reports that send reports to the inbox anytime there is an exception or a threshold is met. Keep a tab on how often employees are booking over or under budget and monitor total savings against the company policy. Improve employee behavior and forecast future trends using historical data. Check top vendors from the company according to the categories. Keep track of the highest spenders and see how employee adoption and compliance with the booking platform changes over time. 
  • Integration: Get support for thousands of corporate and personal cards and boost visibility into every card transaction. Ensure smooth business operation with an app that seamlessly integrates with ERPs, single sign-on, identity management tools, human resource information systems and more.  
  • End-to-End Travel and Expense Management: Improve visibility, expedite tracking, enable budget management, ensure error-proof data entry and clear travel policies. Automate expense management and save time spent on capturing expenses. Gain input from one source of truth and one point of contact. Get easy access to travel and expense tools with single sign-in benefits.  
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  • Reporting: Create various detailed template-based or ad-hoc reports with the reporting apparatus. Users may also customize documents according to lease type, location, contract date and other valuable information. 
  • Integrations:  Integrate with other solutions such as SAP, Sage, Looker, Tableau, Qlik and more to upload journal entries into general ledgers and evaluate data with the right BI tools. 
  • All-Inclusive Audit Trail: Evaluate changes made with the detailed audit trail component and verify if all actions meet regulations with the approval workflows and permissions extensions. 
  • Chronicle Leases: Record essential dates, contacts, and terms linked to every lease and swiftly search for needed information. 
  • Importing: Import journal entries into general ledgers or trace rent via accounts payable. 
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Product Ranking

#159

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#184

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User Sentiment Summary

Excellent User Sentiment 125 reviews
Excellent User Sentiment 110 reviews
93%
of users recommend this product

TravelBank has a 'excellent' User Satisfaction Rating of 93% when considering 125 user reviews from 1 recognized software review sites.

94%
of users recommend this product

Visual Lease has a 'excellent' User Satisfaction Rating of 94% when considering 110 user reviews from 2 recognized software review sites.

4.65 (125)
4.65 (55)
n/a
4.7 (55)

Awards

TravelBank stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

Visual Lease stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

Synopsis of User Ratings and Reviews

Easy Receipt Capture: Users praise TravelBank's ability to effortlessly capture receipts using their phone's camera, eliminating the need for manual entry and saving valuable time.
Automated Expense Reports: The platform's automated expense reporting feature streamlines the process by automatically generating reports based on captured receipts and travel data, reducing manual effort and minimizing errors.
Real-Time Spending Insights: TravelBank provides real-time visibility into spending patterns, allowing users to track expenses as they occur and make informed decisions to stay within budget.
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Centralized Lease Repository: Visual Lease provides a single platform to store and manage all lease agreements, eliminating the need for paper files or spreadsheets. This allows for easy access to lease data and documents, improving efficiency and organization.
Automated Lease Accounting: The software automates lease accounting calculations, ensuring compliance with ASC 842 and IFRS 16 standards. This reduces the risk of errors and saves time for accounting teams.
Lease Reporting and Analytics: Visual Lease offers robust reporting and analytics capabilities, providing insights into lease portfolios and enabling data-driven decision-making. Users can generate custom reports on key lease metrics, such as lease expirations, rent obligations, and critical dates.
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Limited integrations: TravelBank doesn't seamlessly integrate with all accounting systems, which can make reconciling expenses more manual and time-consuming.
Reporting limitations: Some users have expressed frustration with the platform's reporting capabilities, finding them to be somewhat inflexible for their specific accounting needs.
Occasional glitches: Like any software, TravelBank has been known to have occasional glitches or technical issues, which can be disruptive to accounting workflows.
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Limited Customization: Users have expressed frustration with the lack of flexibility in tailoring reports and dashboards to their specific needs, especially when it comes to intricate lease accounting calculations.
Usability Challenges: Navigating the platform's interface and features can be cumbersome, particularly for those new to lease accounting software. The learning curve can be steep, leading to inefficiencies and a need for extensive training.
Integration Issues: Integrating Visual Lease with existing accounting systems or other software can pose challenges, requiring additional configuration and potentially leading to data synchronization problems.
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Is TravelBank the "bank" where savvy businesses "deposit" their travel management needs? Users praise TravelBank's user-friendly design and efficient expense reimbursement process, highlighting its intuitive interface and quick turnaround times for reimbursements. The platform's ability to create and enforce custom travel policies and expense allowances is another major plus, allowing businesses to maintain control over spending while empowering employees to book travel within set parameters. Users also appreciate the 24/7 customer support, which provides peace of mind for traveling employees. However, some users have expressed concerns about the software's pricing and its limited integration with other systems, which can be a drawback for businesses relying on a suite of interconnected tools. TravelBank's focus on streamlined travel management and expense reporting makes it a strong contender in the market. Its differentiating factor lies in its comprehensive approach, combining travel booking, expense tracking, and policy enforcement in a single platform. This integrated approach simplifies travel management for both employees and administrators. While the lack of extensive third-party integrations might be a limitation for some, TravelBank's core strengths make it an ideal choice for businesses seeking a user-friendly and efficient solution for managing travel and expenses, particularly those with frequent business travelers who value a seamless and well-supported experience.

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Visual Lease appears to be a popular choice among businesses for managing their lease accounting needs, especially those seeking to comply with regulations like FASB, IFRS, GASB, and ISSB. Users frequently praise its user-friendly interface, which simplifies tasks such as tracking expenses, handling invoices, and generating reports. This ease of use is a major plus, as it allows teams to quickly get up to speed with the software without extensive training. Additionally, Visual Lease offers a comprehensive suite of features covering various aspects of lease accounting, from asset lifecycle management and portfolio management to budgeting, forecasting, and tax management. This breadth of functionality makes it a versatile tool that can adapt to the diverse needs of different organizations. While some users note that the software can be complex initially and may require some guidance during implementation, the available support team is often commended for their responsiveness and helpfulness in addressing any challenges that arise. However, it's important to consider potential drawbacks. Some users mention that the pricing structure of Visual Lease might be a hurdle for smaller businesses with tighter budgets. Additionally, while the software's extensive features are generally seen as a strength, they can also contribute to a steeper learning curve for new users. Despite these considerations, Visual Lease seems to be a good fit for organizations of all sizes seeking a robust and user-friendly solution for lease accounting and management. Its ability to streamline processes, ensure compliance, and provide valuable insights into lease portfolios makes it a valuable asset for businesses looking to optimize their lease management practices.

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