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.

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List of 20 Best Expense Management Software

Showing 1 - 20 of 175 products

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

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

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

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

Most Reviewed

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

Category Champions | 2023

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

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

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

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

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

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

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

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

Expense management Software Guide

Use of Expense Management Software

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.

Types of Expense Management Software

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.

Types of expense management software

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.

Purpose of Business Expense Tracking Software

  1. The essential purpose of the software is to maintain a record of all expenses covered within a particular period.

  2. Help manage the incurrence of costs and take adequate measures to facilitate the reduction of the same.

  3. 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.

Features of Expense Management Software

  1. Effective digitization of the expense receipts for better facilitation of the record maintenance.

  2. Detailed analysis and generation of the corresponding reports based on the current finances and forecast of the business solutions.

  3. Better drafting and communication of best expense management software guidelines for enhanced financial security in the current market scenario.

  4. Enhancing income planning and cost incurrence to ensure better financial standards.

  5. Higher time complexity solutions with automation features are readily made available for the generation of expense reports.

  6. Compliance with the tax regulations by digitizing the expense tracking software and effective use of cloud computing technologies for the same.

  7. Better facilitation of employee reimbursement-claim funds with paperless expense management systems.

  8. Detailed tracking of expenses software to manage the same efficiently.

  9. Highly interactive user interface with creative design solutions for best standards.

  10. Greater configuration features to ensure flexibility in terms of management of expenses and receipts.

  11. Cleaner integration into the ERP software for the period-wise data analysis and report generation.

  12. Ensures transparency in procedures and helps facilitate fraud identification.

  13. Support for a variety of format generations on a customization level.

  14. Hassle proof of workforce maintenance.

  15. Greater modularity and abstraction levels of the software to deal with various categories of expenses on a larger scale.

Benefits of Expense Management Software

  1. Highly suitable for individuals and all standards of business organizations.

  2. Reduces a lot of manual strategies and paperwork.

  3. Digitization receipts and preservation of the data for a more extended period facilitate better tax management.

  4. Effective cost management solutions.

  5. Timely attention to submission of reports.

  6. Better reimbursement claim facilities for the employees.

  7. Greater ease of use due to high-end interactive user interface.

  8. Duplication and false reports are detected quickly.

  9. Ability to draft expense policies for better and strategic financial security.

  10. Real-time analysis of data.

  11. Portable technology and exclusive integration feature into the mainstream database without any errors.

  12. Comprehensive report generation depending on the concept modules for better analysis

Future Trends of Expense Management System

Trends Of Expense Management Software

1. Mobility

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.

How to Buy Expense Management Software

Pick the best expense management

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

Name Ratings & Reviews Starting Price Free Trial?
TallyPrime 4.7(324 Reviews)

Available on Request

Yes Learn More
Keka 4.7(146 Reviews) $97.21 Upto 100 Employees Yes Learn More
factoHR 5.0(129 Reviews)

Available on Request

Yes Learn More
HRMantra 4.5(120 Reviews)

Available on Request

Yes Learn More
Vyapar 4.7(115 Reviews) $40.26 Device/Year Yes Learn More

FAQs of Expense Management Software

  • Advertising Expenses
  • Education
  • Business Vehicle
  • Payroll
  • Office expenses
  • Rent and Utilities
  • Professional Services
  • Travel

  • Concur Travel and Expense
  • Xero
  • Expensify
  • Abacus
  • Rent and Utilities
  • Professional Services
  • Harvest

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.

Expense Management Software in following industries

Last Updated: August 23, 2023