Reliable Expense Management Software in 2022

Tracking business expenses and reimbursement management are just two of the things that powerful expense management software can handle.

In this article, we’ll list the best spend management platforms that offer great expense tracking and financial reporting for businesses. We’ll also provide a buyer’s guide to help choose which one suits your business best.

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1. Fyle

Fyle is a great expense management system that’s perfect for small to medium-sized firms that want to track expenses for a relatively low number of employees. Features like InstaFyle and BulkFyle make receipt management easier, and its automation features let you integrate with Google Workspace, Slack, and other apps for financial reporting. Full Review

  • Google Workspace, Slack, and other application integrations
  • Expense tracking
  • Mileage tracking
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Fyle is a great expense management system that’s perfect for small to medium-sized firms that want to track expenses for a relatively low number of employees. Features like InstaFyle and BulkFyle make receipt management easier, and its automation features let you integrate with Google Workspace, Slack, and other apps for financial reporting. Full Review

Pricing

4/5

Ease of Use

5/5

Integrations

5/5

Features

4/5

2. Sage Intacct

Sage Intacct is the best expense tracking software for large businesses that need various types of financial functions and invoice management features. It has excellent automation and customization capabilities. You can also benefit from its Dashboard and Reporting features to gain insights into your business' profitability and its Billing feature for flawless invoice management. Full Review

  • All-inclusive accounting and bookkeeping
  • Six customizable core features
  • Salesforce and AvaTax integrations
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Sage Intacct is the best expense tracking software for large businesses that need various types of financial functions and invoice management features. It has excellent automation and customization capabilities. You can also benefit from its Dashboard and Reporting features to gain insights into your business' profitability and its Billing feature for flawless invoice management. Full Review

Pricing

4/5

Ease of Use

4/5

Integrations

5/5

Features

5/5

3. Zoho Expense

Zoho Expense is a great travel expense report software for small businesses with remote workers. Its free version is perfect for freelancers. Admins enjoy its streamlined approval process control. You can scan receipts easier with its AutoScan feature; its Chrome browser extension lets you access it while browsing the internet. Full Review

  • Reimbursement management
  • Invoice tracking
  • Mobile-friendly app
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Zoho Expense is a great travel expense report software for small businesses with remote workers. Its free version is perfect for freelancers. Admins enjoy its streamlined approval process control. You can scan receipts easier with its AutoScan feature; its Chrome browser extension lets you access it while browsing the internet. Full Review

Pricing

5/5

Ease of Use

4/5

Integrations

4/5

Features

5/5

4. WellyBox

WellyBox is among the top 10 expense report software solutions because of its easy-to-use platform and streamlined features. It’s perfect for small businesses and freelancers that have limited budgets but need a good spend management platform. Its Freelancer plan costs $59, while its Business plan costs $149 — both offering invoices and receipts tracking. Full Review

  • Receipt management
  • Email integration and automation
  • Expense reports
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WellyBox is among the top 10 expense report software solutions because of its easy-to-use platform and streamlined features. It’s perfect for small businesses and freelancers that have limited budgets but need a good spend management platform. Its Freelancer plan costs $59, while its Business plan costs $149 — both offering invoices and receipts tracking. Full Review

Pricing

4/5

Ease of Use

4/5

Integrations

4/5

Features

4/5

5. Expensify

Expensify is the best expense report software if you’re a rapidly growing business that needs automation and integration with other financial tools. Its Multi-Level Approval Workflows ease financial reporting, while its One-Click Receipt Scanning makes for quick and easy receipt and reimbursement management. Full Review

  • Workflow management integration
  • SmartScan technology
  • Automation features
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Expensify is the best expense report software if you’re a rapidly growing business that needs automation and integration with other financial tools. Its Multi-Level Approval Workflows ease financial reporting, while its One-Click Receipt Scanning makes for quick and easy receipt and reimbursement management. Full Review

Pricing

4/5

Ease of Use

5/5

Integrations

4/5

Features

5/5

6. Rydoo

Rydoo offers amazing expense reporting tools in the form of receipts scanners and invoice management tools. It also boasts powerful third-party integrations with ERP systems for better expense tracking and bookkeeping. Its multi-currency features allow for easier foreign transactions. It also has Mileage and Per Diem features for frequent travelers. Full Review

  • Receipts management
  • Mileage tracking
  • Integrates with ERP systems
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Rydoo offers amazing expense reporting tools in the form of receipts scanners and invoice management tools. It also boasts powerful third-party integrations with ERP systems for better expense tracking and bookkeeping. Its multi-currency features allow for easier foreign transactions. It also has Mileage and Per Diem features for frequent travelers. Full Review

Pricing

4/5

Ease of Use

5/5

Integrations

5/5

Features

4/5

7. Expensya

Expensya is a great online expense report software that lets you track various things in one place through its fantastic self-learning OCR+ technology. Apart from recording transactions, it also automates approval process control and provides great visibility of your business expenses. A 30-day free trial is also available. Full Review

  • Smart scanning and Approval process control
  • Receipt and expense management
  • Financial reporting
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Expensya is a great online expense report software that lets you track various things in one place through its fantastic self-learning OCR+ technology. Apart from recording transactions, it also automates approval process control and provides great visibility of your business expenses. A 30-day free trial is also available. Full Review

Pricing

4/5

Ease of Use

4/5

Integrations

4/5

Features

5/5

8. Emburse Abacus

Abacus is an online expense management software that provides real-time expense tracking and reimbursement management features. It speeds up the process and can be customized according to your business’ needs. It’s also perfect for frequent travelers because it lets you see your travel expenses by trip. It also tracks mileage. Full Review

  • Real-time expense tracking
  • Reimbursement management
  • Fresh and modern interface
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Abacus is an online expense management software that provides real-time expense tracking and reimbursement management features. It speeds up the process and can be customized according to your business’ needs. It’s also perfect for frequent travelers because it lets you see your travel expenses by trip. It also tracks mileage. Full Review

Pricing

4/5

Ease of Use

5/5

Integrations

4/5

Features

4/5

9. ExpensePoint

ExpensePoint is an expense report software that provides great support for accountants and administrators. It’s also a great expense tracking software for end users who want a highly granular level of management. ExpensePoint also uses live human character recognition to process and verify your business expenses and manage your financial reporting. Full Review

  • Uses Live Human Character Recognition
  • Customizable expense categories
  • Automation Manager and Suitable for accountants
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ExpensePoint is an expense report software that provides great support for accountants and administrators. It’s also a great expense tracking software for end users who want a highly granular level of management. ExpensePoint also uses live human character recognition to process and verify your business expenses and manage your financial reporting. Full Review

Pricing

4/5

Ease of Use

4/5

Integrations

4/5

Features

5/5

10. SlickPie

SlickPie is a great business expense management platform if you're a freelancer, solopreneur, or small business owner and want free accounting software with many premium services. This tool offers fantastic expense tracking, and its MagicBot feature lets you avoid errors by minimizing manual data entry. Full Review

  • Free version
  • MagicBot data entry tool
  • Expense tracking and accounting
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SlickPie is a great business expense management platform if you're a freelancer, solopreneur, or small business owner and want free accounting software with many premium services. This tool offers fantastic expense tracking, and its MagicBot feature lets you avoid errors by minimizing manual data entry. Full Review

Pricing

5/5

Ease of Use

4/5

Integrations

4/5

Features

4/5

Our Methodology 

To ensure that we list only the best platforms, we checked the following:

  • Feature

we checked which software pieces have the most useful features. Some of them have features made specifically for expense tracking and reimbursement management, while others have a more holistic accounting approach for bigger companies.

  • Ease of Use

We looked at each platform’s user interface to find out how user-friendly they are; most of the platforms on our list have easy-to-understand interfaces.

  • Mobile App

We checked which expense management companies have powerful mobile apps and which ones are also available as web apps.

  • Customization

We took into account the levels of customization available, including automation and integration capabilities, which are crucial for a holistic experience.

  • Approval Process

We checked to see which companies offer a better approval control process when it comes to receipts, invoices, and reimbursements.

Individual Reviews

Fyle
Fyle
Fyle

Best for small to medium-sized businesses that need a robust expense tracker and accounting software

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  • Easy to use
  • Plenty of integrations
  • Relatively inexpensive
  • Charges per active user
  • Glitchy support email
  • Long scanning time

Overview 

Fyle is an expense management solution that automates tasks like bookkeeping, reconciliations, receipt management, and other financial reporting tasks.

Features 

As a piece of expense report software, Fyle features tools for managing expenses, card expense reconciliations, and approvals. Recording transactions is done through expense forms that track valuable data about any projects, departments, and costs. Reimbursement management is also a breeze; you can scan receipts and submissions by taking a picture and uploading it to the platform using features like InstaFyle and BulkFyle.

Ease of Use

To track business expenses, Fyle allows you to integrate it with popular platforms like Google Workspace, Slack, and WhatsApp. The platform itself is also straightforward; you select and create reports, and then you submit them for approval.

Pricing 

As the best expense tracking app for small businesses, Fyle’s pricing starts at $4.99 a month, charged per active user. This spend management platform doesn’t have a free version but offers a free demo. Custom pricing is available for enterprises.

Customer Satisfaction 

Fyle sports 4.5/5 stars on G2. Customers praise the platform’s multi-currency features and ease of use. However, others say that they get confused when creating a report.

Competition Overview

Fyle Strengths: Ease of use, receipt tracking, integrations

Fyle Shortcomings: Support services, editing categories

For more information, read our full review of Fyle here

Sage Intacct
Sage Intacct
Sage Intacct

Best for enterprise-level accounting and bookkeeping features

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  • Excellent automation
  • Powerful integrations
  • Highly advanced features
  • No fixed pricing
  • Not suitable for smaller businesses

Overview 

Sage Intacct is best if you want full-service cloud-based accounting software that’s perfect for CFOs and CIOs of larger businesses and fast-developing startups.

Features 

Sage Intacct offers six core cloud-based solutions that enhance report accuracy. It’s core financial functions let you manage essential accounting tasks and processes. The Dashboard and Reporting feature offers insights and statistics about your business, while the Billing feature automates the management of revenue and invoices. You can also create budgets and integrate the software with other bookkeeping platforms. Being a robust expense reporting software platform, Sage Intacct offers additional modules for bigger enterprises.

Ease of Use

Sage Intacct prioritizes automation and customization — each feature provides greater visibility and control to users. Its interface’s ribbon bar is highly intuitive, and you can customize workflows. This SaaS platform is also accessible on any device via a web browser.

Pricing 

As one of the most robust business expense management platforms around, Sage Intacct only offers quote-based pricing. On average, however, customers spend between $15,000 and $35,000 on their annual subscription.

Customer Satisfaction 

Sage Intacct has 4.5/5 stars on G2, with customers loving its various financial functions, which all ultimately help business owners reduce expenses. Meanwhile, others say that the automation features can be confusing for new users.

Competition Overview

Sage Intacct Strengths: Automation, customization, full-service accounting

Sage Intacct Shortcomings: The learning curve, target customers

Zoho Expense
Zoho Expense
Zoho Expense

Best for small businesses that want to streamline their expense tracking systems.

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  • Solid approval process control
  • Has free version for freelancers
  • Integrates well with Zoho Books
  • Interface not intuitive
  • Updates cause bugs

Overview 

Zoho Expense is a SaaS platform that’s perfect if you’re a fast-growing small business that needs a seamless approval process control for expense, receipt, and reimbursement tracking.

Features 

As one of the best expense management software solutions around, Zoho Expense is perfect for receipt and invoice management for companies that have the field or remote workers. Administrators benefit from great approval process control – you can create rules and policies that the platform will automatically implement. This minimizes errors and streamlines your work. Other unique features include Bulk Add Expenses, AutoScan, and receipt forwarding.

Ease of Use

Zoho Expense aims to minimize errors by also minimizing data entry, although end users can still enter data in various ways. It has a mobile-first approach, and its mobile app is compatible with iOS, Android, and Windows phones. Apart from consumer apps, Zoho Expense also offers a Google Chrome browser extension.

Pricing 

This great travel and expense management software starts from $5 per month per active user. Its Premium plan costs $8 per month per active user. It has a free trial of 28 days, while its Free plan is great for freelancers. You can also contact them to sign up for their Enterprise plan if your business requires a very large number of users.

Customer Satisfaction 

Zoho Expense scores 4/5 stars on G2. Customers are happy about its receipt and invoice management features. Others say that creating similar expenses is tricky because of the platform’s expense policy limitations.

Competition Overview

Zoho Expense Strengths: Cost, accessibility, expense policy customization

Zoho Expense Shortcomings: The learning curve, bugs, file exporting problems

Moreover, you can check which are the best Zoho alternatives for 2022, here.

WellyBox
WellyBox
WellyBox

Best for small businesses that need an easy-to-use spend management platform with straightforward features

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  • Organizes receipts automatically
  • Simplistic and easy to use
  • Has free trial and free version
  • Lacks reviews
  • Young business

Overview 

WellyBox is a financial reporting tool that offers robust expense tracking and receipt management features perfect for small businesses that want to organize their financial information.

Features 

As great receipt management software, WellyBox automates the management of your receipts and invoices. Users can scan and upload receipts on the platform, which can also sift through your mailboxes for the automation of receipt collection. You can create expense reports without manual data input, improving report accuracy. It also identifies your expense documents as either personal expenses or business expenses.

Ease of Use

WellyBox is very easy to use. It integrates with various third-party platforms that you may already be using for your financial functions, such as QuickBooks, Xero, and NetSuite. You can also connect Dropbox and Google Drive for recording transactions.

Pricing 

As a great expense management software for small businesses, WellyBox’s pricing starts at $59 per month (billed annually with two months for free) or $5.99 when paid monthly. It has a free basic package with limited capabilities.

Customer Satisfaction 

WellyBox scores 8/10 on FinancesOnline. Not many customer reviews are available on various platforms because the organization is relatively new, but expert reviewers are pleased with the spend management platform’s features.

Competition Overview

WellyBox Strengths: Pricing, integrations, processes

WellyBox Shortcomings: Lacks reviews and business experience

Expensify
Expensify
Expensify

Best for large companies with complicated software integration needs

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  • Suitable for complex enterprise operations
  • Powerful automated reimbursements
  • Excellent third-party integrations
  • Has a free version
  • No bulk import for invoices
  • Lacks robust filtering features
  • Steep learning curve

Overview 

Expensify is best if you need complex expense tracking and workflow management integrations. Its automation is top-notch, and the platform is very convenient.

Features

Like other great expense management systems, Expensify can absorb relevant data from receipts and invoices with great ease. Its mobile app uses OCR SmartScan, but you can also upload receipts through the website. There’s a One-Click Receipt Scanning feature and Multi-Level Approval Workflows. You can also link it to other consumer apps like Uber, Lyft, and HotelTonight for automatic receipt import and transcription.

Ease of Use

The Expensify app works on both Android and iOS. A Google Chrome extension is also available. While it easily records expense data, Expensify’s report accuracy is excellent, too — it can recognize and transcribe scribbled receipts.

Pricing 

As one of the best expense report software solutions around, Expensify starts at $5 per user per month. It also has a free version that works well when it comes to reimbursement management.

Customer Satisfaction 

Expensify has 4.5/5 stars on G2, with customers loving the simplicity of its expense tracking and data extraction features. Others aren’t happy that the app doesn’t support the bulk import of invoices.

Competition Overview

Expensify Strengths: Automation, integration, complex tasks, costs

Expensify Shortcomings: Bulk import, sorting system

Rydoo
Rydoo
Rydoo

Best for corporate users that travel a lot; high-growth companies that want automated and streamlined processes

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  • Robust approval process
  • Records travel mileage and per diems
  • Has free trial
  • No reimbursement management
  • Lacks advanced bookkeeping features

Overview 

Rydoo is the perfect expense tracking solution if you want expense management features to go with travel services. Use it to book hotels and flights, and it automatically adds them to the expense reports.

Features 

Rydoo is among the most unique expense management companies, and it organizes your expenses based on users, status, and categories. Its multi-currency features help you with foreign operations, such as hiring overseas employees. It also supports various accounting and bookkeeping applications and integrates with many third-party apps like Slack, Dropbox, Uber, and Lyft. 

Ease of Use

Apart from robust receipt management and expense tracking, Rydoo also boasts a highly intuitive user interface. Its setup is effortless, plus you can enjoy powerful approval process control features. Users’ roles of Approver, Finance, and Administrator are available.

Pricing 

This highly intuitive expense management tool starts at $10 per user per month (billed annually). A 14-day free trial is available, too. Rydoo accepts all payment options.

Customer Satisfaction 

Rydoo has 4.5/5 stars on G2, with customers praising its intuitive and clean user interface. Its app also performs excellently. Meanwhile, others have noticed that the expense tracker sometimes picks up the wrong information from receipts when scanning.

Competition Overview

Rydoo Strengths: Ease of use, travel features, integrations

Rydoo Shortcomings: Inaccurate receipts scanning, upload times

Expensya
Expensya
Expensya

Best for businesses that need expense management automation across a variety of areas

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  • Integrates with ERP systems
  • Long free trial
  • Integrates with platforms like Uber, QuickBooks, and Oracle
  • Steep learning curve
  • Clunky expense categorization

Overview 

Expensya is a great spend management platform that lets you manage online purchases, general costs, expense reports, per diems, mileage, and more.

Features 

Expensya is among the top expense tracking apps due to the sheer amount of work it can do for you. It can scan invoices and receipts, automate expense policies, implement approval workflows, and provide real-time visibility on your expenses and company averages. It lets you track nearly everything in one place through its self-learning OCR+ technology.

Ease of Use

When recording transactions, Expensya automates where it can. This improves report accuracy and minimizes errors since minimal manual data is necessary. It also sports a user-friendly app and integrates well with ERP systems. Everything is automated with the help of the cloud, AI, and machine learning. 

Pricing 

Being one of the best expense report app options around, Expensya starts at $4.99 (€4.74) per month per session. It also offers a custom plan for companies with over 50 active users. A 30-day free trial is also available.

Customer Satisfaction 

Expensya has 4.5/5 stars on G2, with customers praising its automation features. Its multi-currency capabilities are also impressive. However, it requires a steep learning curve because of its many expense tracking and financial reporting features.

Competition Overview

Expensya Strengths: Plethora of features, automation, integrations

Expensya Shortcomings: Learning curve, expense categorization, character recognition

Emburse Abacus
Emburse Abacus
Emburse Abacus

Best for businesses that want real-time visibility and control over receipts and reimbursements

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  • Sits well with complex structures
  • Can be customized
  • Nearly instantaneous approval process control
  • No advanced bookkeeping functions
  • Doesn’t integrate with CRMs
  • Not suitable for freelancers or small businesses

Overview 

Abacus sports an easy-to-use interface and a powerful real-time expense tracking platform that uses data and behavior analysis to automate financial reporting and approvals.

Features 

Abacus powers up any expense report system through its robust user interface. Its real-time expense tracking capabilities are its standout feature: you can submit expenses in real time for reimbursement without waiting for a month of financial reporting. This effectively streamlines the process of reporting business expenses, helping companies with complex organizational structures and financial functions. 

Ease of Use

Abacus’ user interface looks fresh and new — its contemporary look also makes expense tracking and automation easier for its users. Android and iOS apps are available; the iOS app offers a transcription of receipts.

Pricing 

As the top expense management software for real-time expense tracking, Abacus’ Starter plan starts at $9 per active user per month for a minimum of two users. Users can request a custom quote for the Professional and Enterprise plans.

Customer Satisfaction 

Abacus has 4.5/5 stars on G2, garnering positive feedback for its ease of use and expense tracking capabilities. The most common problem cited is the mobile app’s frequent crashing and freezing. It also hardly replaces a fully pledged bookkeeping system.

Competition Overview

Abacus Strengths: User interface, timeliness, reimbursement management

Abacus Shortcomings: Mobile app, bookkeeping functions, integrations

ExpensePoint
ExpensePoint
ExpensePoint

Best for Companies that want more accounting and bookkeeping functions on top of expense tracking and management

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  • Great granularity
  • Excellent financial reporting
  • Integrates with credit cards
  • Personalized services
  • Doesn’t integrate well with QuickBooks
  • Confusing user interface
  • Buggy app

Overview 

ExpensePoint offers granular control over expense policies and financial reporting. This spend management platform is perfect for administrators and accountants — two groups that handle the company’s money.

Features

ExpensePoint offers the best expense management solutions for businesses that prioritize their accounting functions. Unlike other platforms, it doesn’t use optical character recognition. Instead, the receipts, invoices, and reports are read by real people, who fill in the data in the appropriate fields.

Ease of Use

You can use ExpensePoint to track receipts via a mobile app, a browser, and a corporate credit card. A Windows desktop app is also available. Receipts can also be faxed using a dedicated cover sheet with a barcode. 

Pricing 

As the best expense tracking app for those who prefer granular control over their business expenses, ExpensePoint starts at $8.50 per user per month. No subscription levels are required.

Customer Satisfaction 

ExpensePoint has a solid 5/5 stars on G2, with customers loving this company’s personalized services. Actual people call users to help them understand the product’s expense tracking and receipt management features.

Competition Overview 

ExpensePoint Strengths: Accounting functions, granular services, human processors

ExpensePoint Shortcomings: The user interface, QuickBooks integration, add-on charges

SlickPie (Free option)
SlickPie (Free option)
SlickPie (Free option)

Best for small businesses that want a free accounting and receipt management option

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  • Perfect for freelancers and solopreneurs
  • Robust integration choices
  • Powerful automation features
  • Occasional server failures
  • Clunky user interface

Overview

SlickPie is a free online accounting platform perfect for small businesses that want to manage their invoices, receipts, bills, and other business expenses efficiently.

Features

SlickPie offers a plethora of features, such as financial reporting, bank reconciliation, sales tax management, and expense tracking. Its automation features are also exemplary. With this expense management system, you can set up payment reminders and recurring invoices. Its MagicBot feature — a powerful data entry tool — decreases the need for manual handling of numbers and figures, which minimizes errors.

Ease of Use

SlickPie can run on a web browser or an Android/iOS device. It integrates seamlessly with PayPal, Dropbox, and Stripe. Online and phone support is available. You can also implement this spend management platform on an unlimited number of terminals.

Pricing 

Pricing for this platform starts at $39.95 per year. However, it has a robust free plan, which makes it the best expense reporting software for freelancers, solopreneurs, and small businesses.

Customer Satisfaction 

SlickPie boasts a solid 5/5 stars on G2, indicating mostly positive reviews from customers. Apart from recording transactions, this application gives freelancers and small businesses more power when it comes to their accounting and bookkeeping. Meanwhile, server failures do occur, and the customer service team isn’t highly receptive to customers’ concerns.

Competition Overview

SlickPie Strengths: Pricing, accounting features, automation

SlickPie Shortcomings: App performance, user interface

Best Expense Management Software – Buyer’s Guide

Finding the right spend management platform can be daunting, especially when you have a wide range of options to choose from. This buyer’s guide will help you find the best one for your needs.

What Is Expense Management?

Expense management tracks the spending behaviors of employees, usually aided by a piece of management software for cost automation and easy expense tracking. Expense management also determines how the company reimburses its employees for any out-of-pocket costs incurred. Approval processes are also put in place to ensure that all the costs are related to business expenses.

Expense management tools are often used in tandem with tools for workflow management. The combination of these two solutions gives companies the ability to monitor business expenses while attaining greater visibility and control over transactions and tasks across their organizational map.

How to Choose the Right Expense Management Software?

When choosing a spend management platform — whether that’s a paid bookkeeping service or free software for accounting — consider the following factors:

  • Reporting

A seamless expense and financial reporting process is vital. Reporting features allow end users to upload documents, receipts, and invoices directly to the platform. Data extraction comes next, and it minimizes errors that typically happen with manual data entry.

  • Integrations

A spend management platform becomes more powerful when integrated with a third-party application — which can be any ERP, accounting, or other software — that complements its features. For instance, QuickBooks integration enhances the efficiency of receipt management software if you want to have better bookkeeping. Integration-friendly platforms further streamline your processes.

  • Pricing

The best solutions are rarely free, but many expense tracker options come with free versions and free trials. Take advantage of the free access when scouting for the best spend management platform. When it comes to pricing, always consider the best — not the cheapest or most expensive — plan that will address all your needs without breaking the bank.

  • Customer Reviews

Finally, find the best expense management software by combing through user reviews. People share useful and insightful experiences online about such tools, and you can use this information when making your decision. Check out customers’ comments about specific features such as reimbursement management, invoice management, multi-currency features, and others.

Benefits of Expense Management Systems 

Apart from tracking spending and business expenses, these solutions also provide the following benefits:

  • Prevention of Overspending

Reporting and recording transactions helps you see an overview of your business expenses. That means you can also see patterns and plan ahead of time on the ways to reduce expenses based on receipts and invoices.

  • Automation of Processes

Manual data input may lead to various errors and lower accuracy. Other tasks can also be done more efficiently using automated processes. It also saves your time and energy, giving you more opportunities to focus on important business matters.

  • Better Accuracy

Expense reporting tools are known for their speed, but they’re also popular because of their accuracy. They use AI and machine learning technology to track receipts and manage reimbursements, and these technologies have been constantly evolving to improve efficiency and report accuracy.

Expense Management Solutions at a Glance

Expense Management Solution Price Range Receipt Tracking Expense Tracking Our Rating Mobile App Best For
Fyle $4.99 per month per active user Yes Yes 4.5/5 Yes Affordable receipt and expense tracking features
Sage Intacct Quotes-based only Yes Yes 4.5/5 Yes Enterprise-level accounting and bookkeeping features
Zoho Expense $5 per month per active user Yes Yes 4.5/5 Yes Reimbursement management for fast-growing businesses
WellyBox $59 per month Yes Yes 4/5 Yes Robust receipt management and tracking
Expensify $5 per user per month Yes Yes 4.5/5 Yes Complex accounting and business expenses management
Rydoo $10 per user per month Yes Yes 4.5/5 Yes Companies that want automated and streamlined processes; travel mileage tracking
Expensya $4.99 (€4.74) per month per session Yes Yes 4.25/5 Yes Wide range of accounting and spend management features
Emburse Abacus $9 per active user per month Yes Yes 4.75/5 Yes Real-time control over receipts and reimbursement management
ExpensePoint $8.50 per user per month Yes Yes 4.25/5 Yes Company accountants and administrators
SlickPie Free Yes Yes 4.25/5 No Freelancers and solopreneurs that want affordable expense management

Wrap Up

The best expense tracking software lets you track receipts, invoices, and business expenses easily. Their automation features pave the way for easier and faster management, plus their integrations make them powerful when it comes to accomplishing more for your business. To find the right solution for your business, consider its size and specific needs. Some platforms offer basic receipt and reimbursement management, while others offer a plethora of management, accounting, and bookkeeping features.

FAQ

How do you choose expense management software?

Choosing a management software starts with determining your needs and budget. Many spend management platforms offer free trials or custom quotes, so take advantage of that. Make sure to check whether the software’s features and functionality are suitable for your accounting and expense tracking needs.

How does expense management work?

Expense management works by tracking, recording, and managing a company’s employee expenses. The software often takes receipts for approval, and when approval is given, the money spent by the employee is reimbursed. The software ensures that this process goes smoothly and that the expenses are reported properly to the company.

Why is expense management important?

Proper expense management is highly beneficial to businesses because it not only ensures report accuracy, but it also helps a business gain more control over its budget and expenses. The management platform provides greater visibility of a company’s financial reporting, which allows you to budget properly and reduce expenses and costs.

What is the best software for keeping track of expenses?

The best way to keep track of your business expenses and employee spending is by using expense management software. Such a platform will help you organize your employees’ receipts and give approvals for reimbursements. Some platforms also come with bookkeeping and accounting features to provide better efficiency.