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Top 10 Expense Management software
Last updated: May 19, 2023 | 16 |
Expense Management software automates the creation of the expense report for employees, provides online review and approval process for managers
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Simplified expense reporting your employees will love. Streamline the way your employees report expenses, the way expenses are approved, and the way you export that information to your accounting package.
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SAP Concur's easy-to-use business travel and expense management software solution helps your business save time, money and gain control. The Concur booking tool makes business travel a snap—starting with customized options that align with your company policies. You can also upload electronic folios, directly to expense reports. Concur provides full visibility into spend and the ability to ensure policy and regulatory compliance.
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Certify is the leading cloud-based travel and expense report management solution for companies of all sizes. Certify makes expense reports easy by automating the creation of the expense report for the employee, providing online review and approval process for managers, and streamlining the processing and reimbursement process for accountants.
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Expense Management & Business Budgeting Software. Simplify your business' expense reports with Divvy. Submit expense reports, budget, reimburse employees, and manage virtual cards right from Divvy's platform.
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Bill.com brings smart AP and AR automation and new bill payment capabilities to your business. The intelligent way to create and pay bills, send invoices, and get paid.
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Emburse Tallie helps small businesses focus more on work with impact—and less on paperwork for managing expenses.
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Real Time Expense Reporting. Abacus is the easiest way for you to automate how you reimburse your team, reconcile corporate credit cards, and implement your expense policy.
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Expense reporting doesn't have to be painful. Zoho Expense is a perk for employees, managers, and finance teams. Automate travel and business expense reporting, streamline approvals, gain spend visibility and control.
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Rydoo is an all-in-one Travel & Expense platform. Book business trips and submit or approve expense claims in real time.
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Expense management software + AP automation. Automate your expenses, invoice processing + more with our digital business management systems.
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Teampay gives your organization an intuitive workflow and reporting for purchases. This adds security, accountability, and easy approval while giving employees autonomy over their purchasing process.
Latest news about Expense Management software
2022. Sava, a spend management platform for African businesses, gets $2M
Sava, the South African fintech that allows small businesses to manage spending, has raised $2 million in pre-seed funding. Sava, which is yet to launch, says it combines bank accounts, mobile wallets, payment and accounting integrations all in one platform. Sava highlights two specific pain points businesses confront around spend management and reconciliations. One, businesses don’t have tools to enable them to control spending. Two, business owners and their teams spend a lot of hours engaging in manual record-keeping and reconciliations and lack sufficient data to lend prudently.
2022. European spend management platform Moss raises $86M
Berlin-based startup Moss has closed a new $86 million Series B funding round (€75 million). The company offers corporate credit cards for small and medium companies so that they can more easily spend and track their spending. Moss could be considered as a spend management platform. It competes with other European players, such as Spendesk, Pleo and Soldo. What sets Moss apart from its competitors is that it offers credit cards, not debit cards. But transactions still show up in your Moss dashboard seconds after each payment.
2021. Pleo picks up $200M to build the next generation of business expense management
Danish startup Pleo, a developer of expense management tools aimed at SMBs to let them issue company cards and better manage how employees spend money, has picked $200 million. Many companies building products like these have mainly focused on large enterprises as customers. (That is changing fast, though: another big player in the same space as Pleo, Soldo, raised $180 million this year, too.) Pleo’s tools today include card issuing, invoice payments and out of pocket expenses, integrating all of this with existing accounting packages to help money management run more smoothly. Pricing starts at a free and limited tier for the smallest customers up to five users, working up to £10 per person per month for bigger customers, as well packages designed for the largest users.
2021. Mendel secures $35M to tackle LatAm’s corporate spend management problem
Mendel, a corporate spend management solution for enterprises in Latin America, announced today that it has secured $35 million in debt and equity. Mendel’s mission is straightforward: to reinvent corporate spend management by automating most of the operations for an enterprise CFO that are currently done manually. Or put even more simply, it wants to be a one-stop shop for all B2B spend. The corporate spend space is an increasingly crowded one. Ramp and Brex have both raised large rounds this year, and TripActions pivoted last year beyond travel to general expense management. Divvy got acquired by Bill.com.
2021. PayEm raises $27M for its answer to the expense report
PayEm, an Israeli company that develops spend and procurement platform for high-growth and multinational organizations has raised $27M. The company’s technology automates the reimbursement, procurement, accounts payable and credit card workflows to manage all of the requests and invoices, while also creating bills and sending payments to over 200 territories in 130 currencies. It gives company finance teams a real-time look at what items employees are asking for funds to buy, and what is actually being spent. For example, teams can submit a request and go through an approval flow that can be customized with purchasing codes tied to a description of the transaction. At the same time, all transactions are continuously reconciled versus having to spend hours at the end of the month going through paperwork.
2021. Spendesk raises $118 million for its corporate spend management service
French startup Spendesk, that focuses on all things related to spend management, has raised $118M. Originally founded in startup studio eFounders, the startup first offered virtual and physical company cards for employees. While corporate cards are quite popular in the U.S., many small and medium companies in France can’t give a card to every single employee. By combining a SaaS platform with corporate cards, it opens up a ton of possibilities. For instance, you can create an approval workflow for expensive purchases. You can set different budgets for different teams. Over time, Spendesk has expanded beyond cards to manage expenses and invoice processing. It tries to automate some repetitive accounting tasks as well. Employees are automatically reminded that they have to attach a receipt for each transaction. You can export everything to Xero, Datev, Sage, Cegid or Netsuite.
2021. Soldo raises $180M for its business expense management platform
Soldo, which provides a platform to issue employees with prepaid company cards that are linked through to an automated expense management system, has closed $180 million in funding. Soldo currently has some 26,000 customers, ranging from small- to medium-sized businesses, through to midmarket enterprises and up to large multinationals across 30 countries, with Mercedes Benz, GetYourGuide, Gymshark, Bauli, and Brooks Running among some of the more popular of them. Alongside that, by way of APIs, it also integrates with the popular accounting packages used by organizations today — NetSuite, QuickBooks, Zucchetti and Xero, along with options to connect Soldo to more than 50 expense management platforms including Concur and Expensify.
2021. Pleo raises $150M for its new approach to managing expenses for SMBs
Startup Pleo, which has built a integrated system that includes payment cards, expense management software, and integrated reimbursement and pay-out services, has raised $150 million. There are around 17,000 small and medium businesses now using Pleo, with companies at the medium end of that numbering around 1,000 employees. There are a number of companies in this space, from older players like SAP’s Concur through to startups on the cusp of going public like Expensify as well as younger entrants bringing new technology into the process. But Pleo’s approach has been to build, from the ground up, a system for those smaller businesses that integrate all the different stages of how an employee might spend money on behalf of the company.
2021. All-in-one expense management platform Jeeves raises $131M
Jeeves, which is building an “all-in-one expense management platform” for global startups, is emerging from stealth today with $131 million in total funding. The “fully remote” Jeeves describes itself as the first “cross country, cross currency” expense management platform. The startup’s offering is currently live in Mexico — its largest market — as well as Colombia, Canada and the U.S., and is currently beta testing in Brazil and Chile. Jeeves claims that by using its platform, any company can spin up their finance function “in minutes” and get access to 30 days of credit on a true corporate card, noncard payment rails, as well as cross-border payments. Customers can also pay back in multiple currencies, reducing FX (foreign transaction) fees.
2021. Zoho Expense gets new interface, Trips and Expense Audit modules
Zoho has introducing the all-new Zoho Expense - corporate travel and expense management software. Its freshly revamped user interface comes along with role-based access control. The entire application can be customized based on the role of the user: admin, submitter, or approver. This enables a distinct division of roles, where users will only view modules that are relevant to them. The new Trips module streamlines all aspects of business travel—from planning travel itineraries and keeping travel documents accessible to facilitating flight and hotel bookings. And Expense Audit module equips travel and finance teams with the functionalities they need to enforce policies and maintain compliance.
2020. Expense management vendors unite to form Emburse
A group of six travel and expense management software vendors — Abacus, Captio, Certify, Chrome River, Nexonia and Tallie — have come together under a single company, Emburse, in an effort to challenge SAP Concur. The company will employ 750 people around the world and its users will include more than 4.5 million business travelers at 14,000 customers in 120 countries. The various expense management software brands have been unifying for several years. Certify and Chrome River united last year. Before that, in 2017, Certify, Nexonia, ExpenseWatch and Tallie merged into one company under the Certify name with the goal of challenging SAP Concur after K1 Investment Management invested $125 million. Last July, the united Certify and Chrome River acquired Emburse, a startup provider of virtual and physical cards for business expenses and vendor payments. On the other side, the German business software giant SAP acquired Concur for $8.3 billion in 2015.
2019. Expense management software Zoho Expense integrated with Xero
Zoho Expense makes expense reporting easy by providing user-friendly automations such as auto-scanning of receipts, automatic report generation, and custom approval workflows. But after expense management app does its work, organization’s finance team still has to account for those expenses. To help them, Zoho Expense has joined hands with Xero. With this integration, expense reporting is a breeze. You can create expense reports, track their status with timely notifications, and understand them with analytical reports in Zoho Expense. Besides reporting your expenses, you can also prepare budgets for them, to keep your cash outflow in check. Upload your expense receipts or email them to your receipt inbox in Zoho Expense, and they will be converted into expenses automatically. You can also configure your reports to be auto-generated, and then be exported to Xero automatically.
2019. Employee expense management software Teampay raised $12M
The New York City-based expense management startup Teampay raised a $12 million series A round. eampay is giving every employee a beautiful platform to buy the goods, tools, and services they need while keeping them within defined company policy. What Teampay discovered is that while the pain point for organizations is the actual purchase of a particular good or service, what companies are really looking for is better tools to manage expenses across the board. That includes the challenges of managing spend even outside of a company’s walls. With more and more businesses hiring freelancers these days, it can be challenging to offer contingent workers access to spending power without onerous bureaucratic systems that ultimately cost more in lost salary and productivity than savings in cost management.
2017. Zoho Expense gets Windows app
Zoho Expense has a new feather in its cap with the addition of Windows 10 Desktop compatibility. Users can now access expense reporting software in the cozy surroundings of Windows desktop. Zoho Expense for Windows 10 desktop comes packed with the following features: comprehensive dashboard, auto-scanning of expense receipts, multi-currency, mileage expenses, travel allowances (per diems), itemized expenses, tracking advances received, customized approvals.
2015. Expensify added new travel site integrations
Expense management service Expensify is taking another step toward making expense reports easier by announcing integrations with a bunch of travel-related services. So instead of forwarding travel receipts to receipts@expensify.com, users can just make their bookings in the partner service of their choice, and the information will automatically be sent to Expensify for reporting. This could save you a bit of a headache when you’re creating the expense report for a business trip, and it also addresses the issue of “leakage,” where an increasing number of people are doing their travel booking outside the standard corporate systems. Expensify’s initial travel partners include NuTravel, Egencia, Locomote, NexTravel, Uber, Priceline, Hipmunk and Rocket Trip. The company also says there are plans to add GetThere, Amadeus, Atlas Travel and Airbnb.
2015. Zoho launched expense tracking app Zoho Expense
Zoho unveiled its new app Zoho Expense that automates and simplifies expense reporting by eliminating needless data entry, speeds up report approvals, and seamlessly integrates with other business applications to increase cross-business function productivity. It promises zero data entry when creating expenses (turns receipts to data with auto scan, syncs credit card statements with a click of a button). Approving expense reports is also a cinch thanks to one-click approvals and rejections. Managers can view expense report details in one place, and they can communicate and collaborate directly from Zoho Expense, rather than through drawn-out email threads and phone calls. Zoho Expense is also integrated with Zoho Books and Zoho CRM. The service offers a monthly plan of US $15 for 10 users per month. Mobile apps are available on iOS, Android, and Windows platforms for free.
2014. Expense management service Expensify targets Concur customers
Expense management startup Expensify is hoping to win over some new customers thanks to SAP’s acquisition of competitor Concur. To do that, it’s making it free for Concur customers to switch to its platform, and also offering a way for its competition’s users to leverage its products when submitting expenses into Concur. While it’s widely acknowledged that Concur mostly sucks, Expensify is making the argument that things are likely to get worse, just as things usually do when one big organization swallows up another. Even if that’s the case, the problem for most Concur customers is that they are under contract for some amount of time. To convince those organizations to switch over, Expensify is basically offering them its service for free for the length of their remaining Concur contracts.
2014. SAP acquires travel and expense management service Concur
SAP acquires Concur, the expense and travel management solution, for $8.3 billion. Concur has roughly 25 million users in over 150 countries. And in 2011 Concur acquired travel organizer TripIt back in 2011. With Concur in its clutches, SAP claimed it will now have 50 million cloud users. As part of the deal, Concur will help SAP develop context-aware mobile applications and SAP will start using Concur’s travel-and-expense management services. The acquisition is expected to close in the fourth quarter of this year or the first quarter of 2015.
