XChange

XChange is a travel distribution platform offered by QuadLabs Technologies Pvt. Ltd. that aims to automate the travel process for various travel businesses. It is designed for Travel Management Companies (TMCs), Online Travel Agencies (OTAs), and Travel Agencies of all sizes. This platform is utilized by professionals in the travel industry, such as Travel Management Companies, Online Travel Agencies, Travel Agencies, Corporate Travel Managers, and Travel Consultants.

Key Features

Expense Management System: According to the vendor, XChange offers a comprehensive expense management system that allows users to fill expenses on the go, set expense policies, manage approval workflows, and generate expense reports. It also provides budget allocation and insights, making it suitable for scaling businesses.

Per Diem Allowance: The vendor states that XChange allows users to configure pre-trip approval for per diem allowance based on destination and currency. The system supports different configurations at various levels, including department, division, project, designation, grade, traveler, and corporate. Additionally, consolidated reports can be directly sent to the finance department.

Conveyance Allowance: XChange integrates with Google Maps to calculate conveyance allowance based on the distance between origin and destination. Users have the flexibility to configure conveyance allowance at different levels, such as department, division, project, designation, grade, traveler, and corporate. The system also enables the sending of conveyance reports to approvers through the mobile app.

Manual Expenses: The vendor claims that XChange provides a user-friendly interface for filling miscellaneous expenses through the dashboard and mobile app. Users can conveniently upload e-receipts and e-bills using the mobile camera or scanned documents. The system supports the upload of both travel and non-travel expenses, with the option to define expense categories and tax breakup. Reimbursable and billable expenses can also be defined.

Profiling & Budget Allocation: XChange allows for corporate and employee profiling, along with policy and approval workflow setup. Users can configure per diem allowance, conveyance allowance, expense categories, and policies. Expense approval is based on allocated budgets for each department, cost center, and project, with the ability to define budgets on a monthly, quarterly, yearly, or trip basis.

Policies & Approvals: According to the vendor, XChange features a policy engine that highlights expenses based on policies. Users can define reason codes for out-policy expenses and implement multi-level approval flows with an escalation matrix. Approval is based on expense claimed versus budget allocated, and approvers can view e-receipts and e-bills. Employees are notified of expense approval or rejection, and approvers can view budgets during the approval process.

Reimbursement: XChange streamlines the reimbursement workflow by automatically pushing approved expenses to the finance department for verification with e-receipts and e-bills. Employees can send reminders for processing unclaimed expenses, and the system reconciles card transactions and cash transactions. Approved and claimed expenses can be seamlessly integrated with third-party accounting systems.

Reports: XChange offers a range of reports for employees and managers, including expense reports, per diem reports, conveyance reports, and expense pattern reports. Users can access reports based on departments, cost centers, and projects. The system provides insights into policy adherence versus non-adherence.

Integration with Tools: The vendor states that XChange seamlessly integrates with various accounting and ERP systems, saving time on repetitive tasks. Users can export custom reports with a single click.