Best Expense Management Software
Best expense management software for 2023 are Expensify, greytHR, Happay, Zimyo, and Expenseout. An expense management system helps companies manage their expenses, streamline their expense entries, eliminate paper trails, and reduce administrative efforts.
List of 20 Best Expense Management Software
Software by Divvy
Divvy is a fully featured Accounting Software designed to serve Agencies, SMEs. Divvy provides end-to-end solutions designed for Windows. This online Accounting system offers Staff Management, Expense Tracking, Cash Management, General Ledger, Receipt Upload at one place. Read Divvy Reviews
Manage and engage your workforce wherever they are
Sage HR is fast-becoming 1 HRIS software in staff leave and employee database management. By reducing the overhead time and money spent on paper chasing employees' leave requests, Sage HR helps you to solve your HR challenges and let’s you to focus on building your business! Read Sage HR Reviews
Emergents | 2023
Expense management report done in easy way
Paperless expense reporting with the help of zoho expense. Now, say goodbye to expense reports done on paper. Zoho expense is a cloud based expense reporting software, designed to automate your expenses reporting process. It is built to cater small and medium, growing businesses. Read Zoho Expense Reviews
Cloud Accounting Software Making Billing Painless
This bookkeeping software makes your accounting tasks easy, fast and secure. Start sending invoices, tracking time, and capturing expenses in minutes. We uphold a longstanding tradition of providing extraordinary customer service and building a product that helps save you time because we know you went into business to pursue your passion and serve your customers - not to learn to account. Read FreshBooks Reviews
Airbase, the leading spend management platform for
Airbase modern spend management combines accounts payable, expense management, and corporate cards on one platform. It offers a guided procurement experience to manage all spend. Read Airbase Reviews
Procurement Software Made for People
An innovative Procurement Software for small and mid-sized businesses that is easy to implement and has flexible open pricing. Precoro helps companies in over 50 countries to eliminate manual work, improve visibility and control their purchases in the best way. Read Precoro Reviews
Category Champions | 2023
Best expense management software
Keka is an employee experience platform. The only HR & Payroll software that is employee centric. Unlike traditional HR systems, they are a modern new generation platform focused on user experience and simplifying complex workflows. For any employee-centric company, managing the HR, Payroll, and Talent Management is the key activities. Read Keka Reviews
Keka's Pros and Cons
Team can check the upcoming leaves of Team-mates. Operations are smooth and tax management section is impressive.
Keka automates many of the procedures and streamlines the payroll and HR functions. I particularly enjoy how it interfaces with our benefit providers, keeps all employee data in one local location, and makes updating a snap, especially when doing mass updates.
Sometimes the employee face problem in Clock-out. May be some internal issues which can be taken care of easily.
Sometimes it's really hard to contact the support team, and there is a lack of communication and collaboration among different departments. Need to resolve this issues.
The #1 Cloud ERP solution
NetSuite, #1 cloud ERP, is an all-in-one cloud business management solution that helps more than 29,000 organizations operate more effectively by automating core processes and providing real-time visibility into operational and financial performance. Read Oracle NetSuite Reviews
Category Champions | 2023
Expense reports made delightful
HRMantra is the World's most feature rich expense software helping automate the most complicated of hire to retire HR processes easily using its CRORES of ready to use features. It saves 30 min per emp per day giving over 10 times ROI. 100% project success assured. Read HRMantra Reviews
HRMantra's Pros and Cons
HR Mantra is an easy software to use. It has simple UI which helps everyone to utilise it easily. The additional features of filling out KRAs and pre loaded sample also makes it easier for the users to put less efforts.Theme options. Detailed report
You can easily navigate from one tab to another. Real time GPS tracking.
It is not equipped with all the feature you would like in a HR Management tool, it has it's own drawbacks like the tracking of attendance management. It is not completely automated and sometimes you have to reach out your HR and get the issue resolve
Mobile application of HRMantra needs a little bit of improvement rest is fine.
The only procurement software that's flexible
Kissflow Procurement Cloud is a flexible procure-to-pay suite that enables businesses of all sizes to streamline their procurement processes from sourcing to invoice processing and supplier management. Learn more about Kissflow Procurement Cloud
Power of Simplicity
TallyPrime is India’s leading business management software for GST, accounting, inventory, banking, and payroll. TallyPrime is affordable and is one of the most popular business management software, used by nearly 20 lakh businesses worldwide. Read TallyPrime Reviews
TallyPrime's Pros and Cons
Safe,secure,everything customizable,almost every feature a business need(*but they cost more)
Provide performance and regular updates to Tally Prime also ensure that users have access to the latest technology and features.
One time cost is high but after that everthing is paid from service to big customisation they even charge for every new feature you want to add, Too pricey
Retrieving the data after forgetting the user ID and password is a bit difficult
factoHR - HR Solution for Growth
factoHR is an award-winning Best HR Platform trusted by 2000 Companies & 1.8 million employees, which includes Tata Steel BSL, DENSO, Cycle Agarbatti, BSE, Murugappa, & many others who have improved their productivity by more than 70 %. Read factoHR Reviews
factoHR's Pros and Cons
One of the most notable features is its attendance monitoring and geo-fencing. I can monitor my employees’ attendance and assign them geo boundaries for attendance registration.
The system allows employees to apply for leaves as well as check their leave balance. They can also regularize their attendance when they forget to sign in/out.
We went through some hardships when the software committed some errors in attendance. In addition, there were some issues with biometric integration.
Sometimes, employees can not mark their attendance from mobile phones. The mobile application shows some issues in that.
Category Champions | 2023
A businessman's Best Friend
Vyapar is the simplest GST ready Accounting, Invoicing and Inventory management software. It's made completely for a businessman, you don't have to waste time learning it. Just start managing your business digitally like before even with no Accounting knowledge. Read Vyapar Reviews
Vyapar's Pros and Cons
made billing accounting and inventory much easier and and even much better thing is it given instant gst reports and i can shre it to my CA in on time.
As I said. My business is in my pocket. It is very convenient for my business
need to implement in ISO as i have recently buy macbook and i-phone but can't use it
They have to improve with languages as it is available only in English and Hindi
Category Champions | 2023
Easy and Simple to use HR Software
greytHR is the preferred expense management software for businesses. It automates key areas of HR, payroll management, leave and attendance tracking. With more than 3,800+ highly satisfied customers and managing 3 lakh employee records daily, we understand what it takes to deliver a high-quality software service on a 24 x 7 basis. Read greytHR Reviews
greytHR's Pros and Cons
Simple and intuitive to use. Easy implementation and flexible support.
Features including workflows, alerts, reports, and self service. Training and support are world class
UI can be improved. Also work flows are basic and helpful. It can be made more customer centric.
Integration with more apps I guess. Also require more webinar and training videos
Emergents | 2023
The Easiest, Most Cost-Effective Travel Managemen
Routespring is travel management software optimized for centralized payments for all business travel. Routespring empowers finance teams with realtime visibility and controls that help travelers to #GoFurther. Read Routespring Reviews
Routespring's Pros and Cons
The best part about Routespring is the people who work there.Overall, it is a great user-friendly app with added benefit of excellent travel support. I don't have to spend too much time in booking travel or managing changes & cancellations.We needed software just like Routespring. It is much easier to configure policy, approval settings, fetch real-time travel data, and superb travel support.The most amazing side of Routspring is that it searches travel options according to my personal travel preferences. That makes choosing my travel options so much easy and more time-saving.
Usability and fundamental functionality. Any of the booking options are accessible to you without much effort. how quickly a third party can obtain the reservations you require to continue working. Although this may not be relevant to the software itself, the agents who provide customer service are fantastic! I am extremely grateful that they are available to assist me, as I have received responses late in the day. The information and changes they provide are essential to making my job manageable, and their response time is excellent. Once more, I appreciate everything you do.
No points awarded from hotel chains when you use this service even though you can get the same price when you book directly. Customer service basically tells you if you book it you are stuck with it.Sometimes it's hard to find hotels in rural areas and sometimes it doesn't bring up current location.Sometimes you cannot find a Rent-A-Car place because of the addresses it's hard to figure out sometimes if a Rent-A-Car place is inside the airport or outside the airport and some smaller locations.But I have used their app as a traveler. I am not sure how it works for our company admins.
I would like to suggest to the team that the reports be more dynamic from an accounting standpoint. It will simplify the reconciliation process slightly. I don't have any issues overall.
AI-powered & omnichannel business management softw
zoho is Automate travel and business expense management software, streamline approvals, gain visibility and take control. This expense managemnet software helpful to get instant help for expense management related questions. Read Zoho CRM Reviews
Zoho CRM's Pros and Cons
Its ease of use, customization options, automation capabilities, and integration possibilities make it a comprehensive solution for any organization.
Easy to Use, Access from any where, Data privacy and Customized reports.
we haven't encountered any problems with Zoho CRM. In fact, our experience has been overwhelmingly positive, with every aspect of the software exceeding our expectations.
In zoho if they give us a creator console where we can modify it with business it will be more business friendly
Making Modern Businesses GST friendly
QuickBooks is an online accounting software for business owners to make stay on top of their finances. Easy to use interface, 100% data security and features such as Online bank connect and Whatsapp integration helps business owners to focus on growing their business. Read QuickBooks Online Reviews
QuickBooks Online's Pros and Cons
Integrated with Bank & Credit card and upload voucher from there by defining expense rules
Accessible any time and everywhere. Purchase orders easy converted to bills, professional invoicing and receipt
Import facility is not available for all type of vouchers, only selected type. Also 2 types of reporting tags (Cost centre) available.
Depression must be done automatically at the end of financial year on assets once an asset is recorded
Enterprise SaaS for the future Workforce
Akrivia is a new-age online HR software platform that enables HRs to engage with employees efficiently, save time on redundant tasks, and create an engaging workplace that sets a bar. Read Akrivia HCM Reviews
Akrivia HCM's Pros and Cons
The software's error-free payroll saves time on several levels. The software eliminates the need for rechecking and correcting mistakes that can happen before paychecks are issued.
The software is easy to use and implement, and the company's support is prompt and helpful, making it easier to implement the solution.
The leave management module of the mobile app needs to be updated more frequently. Other than that, the rest of the modules are perfect.
So far, I have not come across any cons.
Category Champions | 2023
GST Billing software with Inventory & Accounts
Simple Billing software with complete inventory and accounts modules. It's fast, reliable and easy to maintain. Ideal for businesses that have a large number of invoices and deals in 100's of SKU's. Typically used by distributors, retailers and small manufacturers. Read Horizon ERP Reviews
Horizon ERP's Pros and Cons
No beneficial,worst software i have ever seen in my life.
avoid fake selling
each and every part of horizon should improve.
The Community SuperApp
ADDA is the best Online Apartment and Housing Society Management Software with a Private Portal for Apartment Complex Members, Best in Class Management Tools & 100% Compliant Accounting Software with Online Payment Gateway Integration. Read ADDA Reviews
ADDA's Pros and Cons
For nearly six years, ADDA has been a part of our workflow. The module for part invoicing is meticulously planned. It settles all issues in a private complex rapidly, including protests, booking of normal offices, and monetary administration. There is excellent customer service. Their entire support team responds immediately when you approach them with a problem.
The accounting features that ADDA provides such as expense management, income management, general ledger, etc.
I used to dislike the app's user interface, but the most recent update introduced a brand-new, extremely user-friendly interface.
Well, ADDA has overcome the issues that I was facing before. Earlier I used to spend hours and hours managing manually. But now It takes me minutes.
Expense management software, as the name suggests, is an efficient software developed to keep a consistent track of the records of all the expenses incurred for the individual or a business organization on the whole.
It is highly beneficial to install one to get a better insight into the standards of business days and thus help one to exercise the necessary measures to check the same. There are a whole lot of expense management systems, developed by private corporations, and integrated with different features to deliver better efficiency for the users.
There are several expense management software, and depending on your usage and requirement, you can choose from the lot. The expense software for small businessis tailor-made for employees who monitor and submit their work hours and application daily and is the best way to manage expenses and also for administrators who review the employee’s performance, and work hours, and provide costs.
1. Travel Expense Management
A travel and leisure company or any company which has employees traveling to work would do good with a travel expense management tool. The expense software for small business will help you manage travel approvals and reimbursement requests.
2. Employee Expense management
Employees can submit their best way to manage expenses, get approvals, and easy reimbursements for the cost incurred without the hassle of sending numerous emails and follow-ups using employee expense management software.
3. Telecom Expense Management
It is virtually impossible to think of running a business with no telephone communication. Most business deals are made or closed over the phone. But, it is essential to keep track of the calls made and the expenses app incurred. The telecom expense management tool will help you sort such applications for daily expenses.
4. Expense Report Management
Best expense management software is straightforward and efficient to use and helps save a lot of time. It is a one-stop solution to submit all the incurred expenses and automate the expense reporting and submission process. It enables an expenditure limit and also an expiration period for the same. It also allows the customization of fields and notifications.
5. Project Expense Management
This category’s primary focus is to reimburse internal employees by capturing their time and resource spent on generating invoices for client projects.
The essential purpose of the software is to maintain a record of all expenses covered within a particular period.
Help manage the incurrence of costs and take adequate measures to facilitate the reduction of the same.
Generate comprehensive yet detailed reports on the current financial status and also predict the upcoming business levels based on the given record of expenses app and the corresponding receipts.
Effective digitization of the expense receipts for better facilitation of the record maintenance.
Detailed analysis and generation of the corresponding reports based on the current finances and forecast of the business solutions.
Better drafting and communication of best expense management software guidelines for enhanced financial security in the current market scenario.
Enhancing income planning and cost incurrence to ensure better financial standards.
Higher time complexity solutions with automation features are readily made available for the generation of expense reports.
Compliance with the tax regulations by digitizing the expense tracking software and effective use of cloud computing technologies for the same.
Better facilitation of employee reimbursement-claim funds with paperless expense management systems.
Detailed tracking of expenses software to manage the same efficiently.
Highly interactive user interface with creative design solutions for best standards.
Greater configuration features to ensure flexibility in terms of management of expenses and receipts.
Cleaner integration into the ERP software for the period-wise data analysis and report generation.
Ensures transparency in procedures and helps facilitate fraud identification.
Support for a variety of format generations on a customization level.
Hassle proof of workforce maintenance.
Greater modularity and abstraction levels of the software to deal with various categories of expenses on a larger scale.
Highly suitable for individuals and all standards of business organizations.
Reduces a lot of manual strategies and paperwork.
Digitization receipts and preservation of the data for a more extended period facilitate better tax management.
Effective cost management solutions.
Timely attention to submission of reports.
Better reimbursement claim facilities for the employees.
Greater ease of use due to high-end interactive user interface.
Duplication and false reports are detected quickly.
Ability to draft expense policies for better and strategic financial security.
Real-time analysis of data.
Portable technology and exclusive integration feature into the mainstream database without any errors.
Comprehensive report generation depending on the concept modules for better analysis
With increasing globalization, people are continuously on the move for business, and leisure among various other things. Therefore, mobile applications and accessibility are critical features of best expense management software, which will enable people to note and submit their best way to manage expenses app on the move from their smartphones.
2. Travel Booking
As per a study by TripActions in 2018, it is believed that travel contributes to over 90 percent of business growth. Fifty percent of those traveling opt for consumer channels to aid their travel rather than the travel solutions offered by the company. A cloud-based expense management solution integrated with multiple vendors would make this tedious job a piece of cake.
3. Integrated System
There are several payment systems like credit cards, debit cards, bank accounts, CRM, accounting, payroll, UPI, etc. It is sensible to integrate all of them and consolidate them into a single expense management solution for safety and data integrity. Linking cards and travel applications will help generate paperless expense management software reports from credit card statements too.
4. Optical Character Recognition
Open source expense management systems can be enhanced by incorporating optical character recognition. The monotonous task of manually inputting data from receipts to forms is avoided. This ensures less scope for errors and inconsistencies. Just a picture of bills or receipts from your camera phone would do the job for you.
5. Artificial Intelligence
Artificial Intelligence will increase the sophistication of expense reimbursement software by leaps and bounds. Smarter recognition of expense types will increase the ability to assign expense general ledger codes for submission. It will detect fake expense reports and automate the monitoring, tracking, and presentation of reports and reduce compliance issues.
1. Keep in Mind Future Objective and Pain-Points
Like in choosing any new technology for your business, it is essential to jot down all the pain points and obstructions caused by the current setup that is pushing you to find an alternative. It is also imperative to have the foresight and determine the organisation's future objective and how you would want the new expense management software to come to your aid. When you know the problem that you are facing, you will be able to choose the right expense reporting software that will help to minimize or overcome the problem.
2. Set-Up and Implementation
While choosing to introduce new open-source expense management software into the system, there are several factors to take into consideration. It should be kept in mind how it is going to affect the employees, impact on business during the implementation, budget, and if the money spent is worth and promises to do away with the existing shortcomings. How user-friendly it is and your employees’ reception towards it is of massive importance too.
3. Mobile Capabilities
It is imperative that when choosing paperless expense management software, one does not overlook the compatibility and integration of the application with mobile phones. With the whole world living through their smartphones, it is wise to choose software with both web and mobile access capabilities. The mobile access will prove to be beneficial to those companies, especially with a lot of employees who travel, to enable timely submissions of expense reports and expense reimbursements on the go and without delays.
4. International Considerations
With travel and businesses being located all around the globe, it is best to keep in mind the receptiveness of the application and its compatibility in an international scenario and set-up. It should be taken into consideration the number of different currencies it can handle, tax policies, regulations, and compliance. Check if all these are going to be automated or if it is going to become menial and make things unnecessarily more complicated.
Related Research Articled:
Compare Pricing Plans of Top Expense Management Software Providers
FAQs of Expense Management Software
- Advertising Expenses
- Business Vehicle
- Office expenses
- Rent and Utilities
- Professional Services
- Concur Travel and Expense
- Rent and Utilities
- Professional Services
The entry-level pricing for expense management software is usually per-user or monthly price range.
- Rs. 200 - $Rs. 700 per month
- Rs. 700+
The pricing may vary, depending upon the total number of users, additional features desired, customization, durations, and so on.
Integrating expenses with email is a great way to manage bills. Any booking made from applications would send an automatic invoice to the user's mail.