In Airbase, NetSuite users can process employee expense payments across multiple subsidiaries, spanning 45 different countries and in 15 currencies. You can have distinct accounting and approval policies for each subsidiary. When it comes to expense management vs spend management, generally speaking, expense management is one component of comprehensive spend management.

Ramp offers a cloud-based expense and spending management solution that equips businesses with virtual corporate cards, enabling efficient tracking and control of company expenditures. This platform goes beyond mere expense tracking by assisting businesses in recognizing spending patterns and pinpointing opportunities for cost reduction. Ramp offers a variety of finance tools, like corporate cards, expense management, and bill payments, to save money and improve efficiency. A platform like Ramp is used by over 15,000 companies, including Shopify and Glossier. It automates, gets insights, offers cashback, and negotiates for businesses.

Vinnet Expense Management

If you’re a business owner, you probably already know that managing business expenses is about as much fun as getting a root canal. If you’re tired of dealing with piles of receipts, hunting down missing receipts, and trying to find creative ways to curb excessive employee spending, it may be time to take a look at Expensify. Zoho Expense lets you snap a photo of a receipt and reconcile your corporate credit card transactions in minutes.

Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. Our mission is to bring you «Small business success … delivered daily.» After it is established, a real-time transaction notification will be sent to the budget owner for approval. The application allows you to monitor your budget by project and department as well.

The Best Expense Management Software

Pocketguard – Simple expense tracking
PocketGuard makes it easy to take control of your money, optimize your spending and grow your savings automatically. Better yet, it’s easy to sign up and try the software for yourself. Even in its most devops teams basic guise the package has plenty of features, but get the best from Pocketguard by heading for the Plus edition. Formerly known as Xpenditure, Rydoo positions itself as paperless expense reporting app for growing business and enterprises.

As markets change, new technologies emerge, and regulatory requirements shift, expense policies must adapt. E-procurement platforms streamline the procurement workflow, automating repetitive tasks such as purchase orders and invoice processing. This automation reduces manual errors, enhances process efficiency, and accelerates decision-making.

Best Free Project Management Software for 2023

Employees expect to be reimbursed as soon as possible, while employers need to ensure that the expenses comply with their companies policies and approved before being processed. I believe, the most convenient feature for our employees is the easy-to-use mobile version of the tool. You click a picture of the bill you just spent on, select the relevant expense head and hit submit.

The software is free to use and integrates with a large number of business applications. Payhawk – Spend Management Control for Global Companies
Payhawk offers a global solution combining expense management, corporate cards, Accounts Payable and seamless ERP integrations. Its customizable expense policy tools enable you to monitor and limit spend, set approval flows, and stay agile. Starting from $199 per month (up to 200 cards, unlimited users & transactions). From the one-person office to the global enterprise, everyone can benefit from expense management software.

Is expense management software secure?

Unfortunately, pricing is only revealed through a customized quote, so it’s hard to say if the app is a good value for you or not. Businesses who want to customize their business expense tracking will like SAP Concur for its personalization options. Another useful feature is insight reporting, which shows you where you are overspending and identifies cost-saving opportunities. Plans start at $10 per user, per month, which could get a bit pricey if you have a larger company. Small businesses or freelancers who want powerful expense-tracking features for free.

With features that allow you to autoscan receipts, forward them automatically, import in bulk, or even import from other cloud applications, Zoho Expense ensures that no receipt goes untracked. Receipts are digitally stored in your Zoho Expense account, so you never have to worry about losing paper copies. FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website.

Faster, smarter and simpler expense

Software that allows businesses to keep a proper record of expenses isn’t just more efficient, it’s also more profitable. The application offers automatic notifications when a report is submitted for approval and a second notification when approval is complete. And employees can go online and see the status of any submissions themselves. BigTime IQ is time and expense tracking software from Chicago-based BigTime Software.

• Add mileage expenses through 4 different methods using your Android, iPhone, or even Apple Watch.
• Automated workflows can also be established for tasks like approving expenditures and reports.
• ❌ Reimbursement of employees with international bank accounts is not possible through the system.
• Your employees can create a report for a single expense or wait and submit multiple business expenses on a single report, all nicely reconciled.
• Another key aspect to consider is whether the cloud vendor meets compliance and security requirements.

One feature of the Wave Accounting app that saves time and effort is the receipt scanner. To import the required data into the system, users merely need to take a picture of their receipts and upload it, using OCR technology to scan and import the information. For example, you can automatically control overspending by setting a maximum budget for recurrent expenses.

Sales Reporting

Concur TripLink lets you track outside bookings in your managed-travel program while ExpenseIT lets you match receipts to card charges to speed up reimbursement. You can scan them through the app or email them in seven different file formats. For example, if they’re traveling abroad, you can provide them with per diem rates based on over 20 jurisdictions. They’ll also be able to upload receipts on the go with the mobile app, which will extract all key data automatically. If they received an electronic receipt, they can forward it to Rydoo to have the expense added. Sage Intacct’s modules work to automate processes and streamline business workflows.

Not only will this make paying employees and vendors easier, but it will also help you maximize deductions come tax time. Learn more about our top business expense tracker picks to see which one would work best for you. Expense management software solutions can help your business in many ways, from providing insightful expenditure reports to reducing the risk of errors.

Your software should allow multiple users and they are secured with assigned role permissions and tasks. Everything you access is highly controlled and only admin can approve the data being inserted in the system. Your software should have this feature to strengthen customer and external partner relationships, as well as helps companies to use their resources more appropriately. This way, they can take hold of early payment discounts, strengthen compliance, reduce risks, and so on. » Our score is based on user satisfaction (reviews & ratings), social media buzz, online presence, and other relevant information.