Best Expense Management Software

Best expense management software are Expensify, Freshbooks, FyleHQ, Zoho, 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 186 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

Simple, Affordable and Connected

TRADOGRAM is a cloud-based procurement management solution that allows you to monitor purchases and access procurement information anytime & anywhere. It is designed with customizable controls, supplier management, contract management. Read TRADOGRAM Reviews

Emergents | 2024

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

Software by Emburse

Emburse is a fully featured Expense Management Software designed to serve Startups, Agencies. Emburse provides end-to-end solutions designed for Web App. This online Expense Management system offers Approval Process Control, Receipt Management, Spend Control, Receipt Upload at one place. Learn more about Emburse

Easy to use Expense Management Software

FreshBooks is a user-friendly expense reporting platform designed to simplify expense tracking and management for small businesses and freelancers. It allows users to effortlessly capture expenses, categorize them, and attach receipts. It has features like automatic categorization and integration with bank accounts and credit cards. Overall, FreshBooks helps businesses stay organized, save time, and gain better control over their finances. 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 | 2024

Best Expense Management Software

Keka is one of the best expense management software that streamlines expense tracking and management for businesses. It offers easy expense submission, approval, and reimbursement processes, enhancing efficiency and accuracy. It provides customizable reporting and analytics to help businesses gain insights and control over their expenses. Read Keka Reviews

Most Reviewed

A Comprehensive Touch-free Attendance Management &

No need to External Hardware, GPS based attendance, Face-recognition (Selfie) enabled attendance, ESS Features, Leave Management, No need to external hardware, loaded dashboards, Auto muster roll generation, Quick & smooth implementation & many more. Read Pocket FaME Reviews

High Performer | 2024

Cloud based expense report software

Happay is the corporate expense software to manage all the expense. Suits for SMEs to the enterprise. Tracks the payment, fund, expenses approval, finance verifies in real-time.  Read Happay Reviews

Most preferred Expense Management Software by Business

2Grow HR is a comprehensive expense management solution designed to streamline and automate the process of managing expenses within an organization. It provides tools for employees to submit expense reports easily and efficiently, With its user-friendly interface and customizable options, 2Grow HR helps businesses improve accuracy. Read 2Grow HR Reviews

Category Champions | 2024

Expense reports made delightful with HRMantra

HRMantra is the 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

Category Champions | 2024

Trusted Software for Expense Management

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 24/7 basis. Read greytHR Reviews

Category Champions | 2024

Horizon ERP is a comprehensive expense management software designed to streamline and automate expense tracking for businesses. With its user-friendly interface and customizable options, Horizon ERP helps businesses improve accuracy, reduce administrative burdens, and gain better control over their expense management processes. Read Horizon ERP Reviews

Emergents | 2024

A 360-degree solution for Expense Management

BatchMaster HeRd offers a cutting-edge approach to expense management, tailored specifically for the needs of the manufacturing industry. It integrates seamlessly with production processes, allowing for real-time expense tracking and analysis. By providing insights into cost allocation across different stages of manufacturing, Read BatchMaster HeRd Reviews

Category Champions | 2024

Easy-to-use Expense Management Software

Vypara streamlines expense tracking and reimbursement processes with a unique focus on sustainability. This expense management software offers innovative features to help businesses identify and reduce carbon footprints associated with expenses, promoting environmental responsibility alongside financial efficiency. Read Vyapar Reviews

User-friendly Expense Report Software

Zimyo's expense software offers a dynamic platform that integrates seamlessly with payroll and HR management systems. It empowers businesses to optimize spending, improve compliance, and enhance financial visibility. Zimyo redefines expense management by providing a comprehensive solution that aligns with modern business needs and drives organizational efficiency. Read Zimyo Reviews

Contenders | 2024

Business Top Preferred Expense Software

Swipez Billing is a seamless blend of billing and expense management functionalities, providing businesses with a holistic financial solution. With this software, businesses can easily track expenses, generate invoices, and manage payments in one platform. Swipez Billing stands out for its ability to automate recurring billing cycles, reducing manual effort and ensuring timely payments. Read Swipez Billing Reviews

High Performer | 2024

Expense system software for small business

Expenseout is a best software to keep track of expenses to serve enterprises, smes. Expenseout provides time expense tracking .this corporate expense software also offers multi-currency, travel reimbursement, receipt management at one place. Read Expenseout Reviews

Contenders | 2024

One click expense reimbursement

Payent is a cloud-based travel reimbursement software for companies of all sizes, and is the only solution in the expense management industry to offer employee expense tracking and reporting. Read Torqus POS 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:

FAQs

  • 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.

Last Updated: March 27, 2024