Corporate Travel Management Companies (TMC): Top Reviews 2025

The corporate travel landscape has undergone a radical transformation. As we navigate 2025, the demand for integrated, efficient, and technology-driven travel solutions has never been higher. For modern enterprises, a Travel Management Company (TMC) is no longer just a booking agency. It is a strategic partner essential for cost control, risk mitigation, and employee satisfaction.

In this comprehensive review, we analyze the leading Corporate Travel Management Companies of 2025. We dissect their software capabilities, duty of care features, expense management integrations, and overall value propositions. Whether you are a multinational corporation or a high-growth startup, selecting the right TMC is a critical decision that directly impacts your bottom line.

The State of Corporate Travel in 2025

Before diving into individual reviews, it is vital to understand the market dynamics driving the industry this year. The global travel and expense management software market is projected to reach significant valuations, driven largely by the adoption of cloud-based SaaS solutions.

Key Trends Defining the Market

• AI-Powered Personalization: Artificial Intelligence is now central to booking engines, offering predictive itineraries that save time and reduce friction for travelers.
• Sustainability and Green Travel: Carbon footprint tracking is no longer optional. Companies require granular data on emissions to meet ESG (Environmental, Social, and Governance) goals.
• New Distribution Capability (NDC): The shift away from legacy GDS (Global Distribution Systems) allows TMCs to offer more competitive rates and richer content directly from airlines.
• Duty of Care: With geopolitical instability and health concerns remaining relevant, real-time traveler tracking and risk assessment are non-negotiable features for enterprise clients.
• Bleisure Integration: The blending of business and leisure travel continues to rise, requiring flexible policies that allow extending trips without administrative headaches.

Top Corporate Travel Management Companies: 2025 Reviews

The following reviews are based on software performance, customer support quality, inventory depth, and financial integration capabilities.

1. Navan (Formerly TripActions)

Best For: Tech-forward companies seeking all-in-one travel and expense management.

Navan has solidified its position as a market leader in 2025 by seamlessly merging travel booking with expense management. Unlike legacy providers that often rely on third-party integrations for expenses, Navan offers a unified platform. This “all-in-one” approach provides real-time visibility into spend, which is a massive advantage for CFOs and finance teams.

Key Features:

• Automated Expense Reconciliation: Navan Liquid, their corporate card solution, automates receipt collection and reconciliation, drastically reducing administrative burden.
• User Experience: The platform boasts a consumer-grade interface that mimics popular leisure travel apps, resulting in high adoption rates among employees.
• AI Support: Their “Ava” automated assistant handles routine changes and cancellations instantly, a crucial feature for minimizing traveler stress.
• Inventory: Direct connections with major airlines and hotels ensure competitive pricing and availability.

Pros:

• High user adoption due to intuitive design.
• Real-time spend control and policy enforcement.
• Excellent mobile app functionality.

Cons:

• May be overkill for very small teams with low travel volume.
• Reporting customization can be complex for unique enterprise needs.

Verdict: Navan is the top choice for companies prioritizing technology and speed. It turns travel management from a cost center into a streamlined operational advantage.

Source: Navan 2025 Platform Overview

2. TravelPerk

Best For: Flexibility and inventory depth for mid-market to enterprise companies.

TravelPerk continues to dominate the European and US markets by focusing on inventory freedom. Their core philosophy is that business travelers should not be restricted to a limited selection of flights or hotels. In 2025, they have expanded their API capabilities, allowing for deep integration with HR and finance tools like BambooHR and Xero.

Key Features:

• FlexiPerk: A standout feature that allows companies to cancel any booking for any reason and receive a refund (typically 80% or more), providing immense peace of mind in volatile travel environments.
• GreenPerk: An industry-leading sustainability API that helps companies offset their carbon footprint directly within the booking flow.
• Inventory Access: They aggregate listings from Booking.com, Expedia, and Skyscanner, ensuring travelers find the specific options they want.

Pros:

• Unmatched booking flexibility.
• Strong focus on traveler autonomy.
• Transparent pricing model with no hidden fees.

Cons:

• Expense management is strong but relies more on integrations than Navan’s native solution.
• Support response times can vary during peak global travel disruptions.

Verdict: TravelPerk is ideal for organizations that value traveler happiness and flexibility above rigid policy enforcement. It bridges the gap between the freedom of consumer travel and the control of corporate management.

Source: TravelPerk 2025 Features

3. American Express Global Business Travel (Amex GBT)

Best For: Large enterprises requiring global scale and complex consulting.

As one of the largest TMCs in the world, Amex GBT remains a powerhouse for Fortune 500 companies. In 2025, they have invested heavily in upgrading their technology stack to compete with agile startups. However, their primary strength remains their massive buying power and global consulting services.

Key Features:

• Global Supplier Networks: Their sheer size allows them to negotiate exclusive rates and perks (like upgrades and lounge access) that smaller TMCs cannot match.
• Neo Technology: Their acquired booking tool, Neo, offers a robust online and mobile booking experience that handles complex multi-leg international itineraries with ease.
• Consulting Services: Amex GBT provides deep analytical support to help large organizations optimize their travel spend and policy structure.

Pros:

• Unrivaled global presence and support in over 140 countries.
• Strongest duty of care infrastructure for high-risk travel.
• Comprehensive reporting for complex multinational entities.

Cons:

• Implementation can be slow and resource-intensive.
• Legacy systems may feel less agile compared to SaaS-native competitors.
• Fee structures can be complex and opaque.

Verdict: For massive global organizations with complex compliance needs and high travel volume, Amex GBT remains the gold standard for reliability and scale.

Source: Amex GBT Solutions

4. BCD Travel

Best For: Data-driven program management and traveler retention.

BCD Travel has carved out a niche in 2025 as the “consultant’s choice.” They focus heavily on using data to drive program improvements. Their approach goes beyond simple booking; they analyze traveler behavior to recommend policy changes that save money without sacrificing comfort.

Key Features:

• DecisionSource: An analytics platform that provides visual insights into travel spend, helping finance teams identify leakage and opportunities for savings.
• TripSource: Their traveler-facing app acts as a comprehensive itinerary manager, providing real-time alerts, gate changes, and risk notifications.
• Life Sciences & Media Specialization: BCD has specialized divisions for industries with unique travel needs, such as entertainment production and clinical trials.

Pros:

• Exceptional account management and strategic consulting.
• High retention rate for clients due to personalized service.
• Strong focus on traveler well-being and duty of care.

Cons:

• Technology interface is functional but less “flashy” than competitors like Navan.
• Setup costs can be higher for smaller programs.

Verdict: BCD Travel is the partner of choice for companies that want a managed travel program where human expertise guides technology application.

Source: BCD Travel Market Outlook

5. CWT (Carlson Wagonlit Travel)

Best For: B2B4E (Business to Business for Employees) focus and hotel content.

CWT has rebranded its approach to focus on the “B2B4E” concept, emphasizing the employee experience within the B2B framework. In 2025, their hotel content and RoomIt platform continue to be a major differentiator, offering specialized rates and amenities at thousands of properties worldwide.

Key Features:

• RoomIt by CWT: A dedicated hotel division that negotiates exclusive rates and amenities, ensuring travelers get more value (WiFi, breakfast) for the corporate rate.
• myCWT Platform: An omnichannel experience that allows travelers to start a booking on a desktop and finish it on a mobile device or via a call center agent seamlessly.
• Predictive Analytics: CWT uses data to predict travel delays and disruptions, allowing for proactive re-accommodation.

Pros:

• Strong hotel program management.
• Excellent mobile app experience.
• Robust integration with third-party security providers.

Cons:

• Like Amex GBT, they are a legacy player and can struggle with agility.
• Customer service tiers can vary significantly based on contract size.

Verdict: CWT is a strong contender for companies with high hotel attach rates and a desire for a consistent, global traveler experience.

Source: CWT Global

6. SAP Concur

Best For: Ecosystem integration and expense compliance.

SAP Concur is synonymous with expense management. While their travel booking tool (Concur Travel) has faced criticism for being outdated in the past, massive updates in late 2024 and 2025 have revitalized the platform. It remains the default choice for companies deeply embedded in the SAP ecosystem.

Key Features:

• Ecosystem Connectivity: Concur connects with virtually every travel supplier, Uber, Lyft, and Airbnb, pulling receipts directly into expense reports.
• Audit Rules: The most powerful policy enforcement engine on the market, capable of flagging out-of-policy spend before reimbursement occurs.
• Concur TripLink: Captures data from bookings made directly on supplier websites, ensuring visibility even when travelers go “rogue.”

Pros:

• The industry standard for expense management integration.
• Unmatched ecosystem of third-party apps and partners.
• highly configurable for complex compliance rules.

Cons:

• User interface can still feel clunky compared to modern startups.
• Implementation is a major project requiring significant IT resources.
• Pricing is often modular, leading to accumulating costs.

Verdict: If your company already runs on SAP or requires rigid expense compliance, Concur is the logical, albeit sometimes complex, choice.

Source: SAP Concur Travel

Critical Factors for Choosing a TMC in 2025

Selecting a partner involves more than just comparing features. You must evaluate the Total Cost of Ownership (TCO) and the Return on Investment (ROI) of the platform.

Integration with Enterprise Resource Planning (ERP)

In 2025, a TMC must talk to your finance stack. Whether you use Oracle NetSuite, QuickBooks, or Sage, the travel platform should automatically push data to your ledger. This automation reduces manual entry errors and accelerates the “month-end close” process.

The Rise of “Bleisure” and Policy Flexibility

Employees are increasingly demanding the ability to add personal days to business trips. The best TMCs enable this by allowing split payments (corporate card for business days, personal card for leisure days) within the same booking flow. Failing to offer this can lead to “leakage,” where employees book outside the tool to manage their own extensions, resulting in a loss of data visibility.

Support Infrastructure

When a flight is cancelled at 2 AM in a foreign country, a chatbot is often insufficient. Top-tier TMCs offer 24/7/365 human support via chat, phone, and email. Look for providers with their own support centers rather than those who outsource to low-quality call centers.

Financial Implications of Managed Travel

Implementing a robust corporate travel program is a financial strategy. By consolidating spend, companies can achieve:

• Volume Discounts: Negotiated rates with preferred airlines and hotel chains.
• VAT Recovery: Automated identification of reclaimable taxes on international travel, which can amount to significant savings.
• Fraud Prevention: Automated policy checks prevent duplicate invoices and unauthorized upgrades.

The shift to “Virtual Cards” is also a major trend. Platforms like Navan and TravelPerk offer single-use virtual credit cards for hotel bookings. This prevents fraud and ensures that the hotel charge matches the booking amount exactly.

Conclusion: Who Wins in 2025?

The “best” Corporate Travel Management Company depends entirely on your organizational DNA.

• For the tech-savvy, high-growth company: Navan offers the smoothest experience and best expense integration.
• For the employee-centric culture: TravelPerk provides the inventory depth and flexibility that modern workers demand.
• For the multinational giant: Amex GBT or BCD Travel provide the necessary scale, consulting, and duty of care infrastructure.

As we move further into 2025, the gap between legacy agencies and tech platforms is narrowing. Legacy players are upgrading their tech, and tech startups are building better human support. The winner is ultimately the corporate buyer, who now has a diverse menu of high-quality options to optimize their travel spend.

To maximize the value of your chosen TMC, ensure you conduct a quarterly review of your travel policy. Adjust caps based on market rates, review vendor performance, and survey your travelers. In the world of corporate travel, data is your most valuable asset.