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.
Fact-checked
Last Updated: July 10, 2022
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
4/5
5/5
5/5
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
4/5
4/5
5/5
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
5/5
4/5
4/5
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
4/5
4/5
4/5
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
4/5
5/5
4/5
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
4/5
5/5
5/5
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
4/5
4/5
4/5
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
4/5
5/5
4/5
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
4/5
4/5
4/5
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
Show More
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
5/5
4/5
4/5
4/5
Our Methodology
To ensure that we list only the best platforms, we checked the following:
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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.
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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.
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Mobile App
We checked which expense management companies have powerful mobile apps and which ones are also available as web apps.
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Customization
We took into account the levels of customization available, including automation and integration capabilities, which are crucial for a holistic experience.
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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
Best for small to medium-sized businesses that need a robust expense tracker and accounting software
Visit Website- 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.
- 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
Best for small businesses that want to streamline their expense tracking systems.
Visit Website- 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
Best for small businesses that need an easy-to-use spend management platform with straightforward features
Visit Website- 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
- 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
Best for corporate users that travel a lot; high-growth companies that want automated and streamlined processes
Visit Website- 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
Best for businesses that need expense management automation across a variety of areas
Visit Website- 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
Best for businesses that want real-time visibility and control over receipts and reimbursements
Visit Website- 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
Best for Companies that want more accounting and bookkeeping functions on top of expense tracking and management
Visit Website- 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)
Best for small businesses that want a free accounting and receipt management option
Visit Website- 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:
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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.
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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.
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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.
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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:
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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.
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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.
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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
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.
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.
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.
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.