In a world filled with smart devices all around us, maintaining a register to manage the expenses of your employees will be no less than antediluvian. Expense management software brings you the most advanced and efficient way to manage expenses of the organization with a high degree of automation. An expense management software incorporates every bit of modern technology available with us. The automation process of creating entries by scanning paper receipts being crucial. Most of them also allow you to track time and mileage along with the expenses. With proper integration of your accounting software and credit cards, everything can be catered on a single platform. The entries are used to generate reports, and the software itself sorts out expenses which are not in compliance with the company’s policies. This helps the approval team to approve the reimbursement requests much quicker. Finally, some of the expense management tools also offer tax claim solution to maximize the tax benefits for your organization.
Fyle is a spend management platform for businesses that employees actually love using. Fyle links email, consumer apps and other platforms to simplify recording, sharing and processing of expenses and invoices within an organization. With Fyle, users can capture their spend data the moment they... read more
Expensify is a US-based software company that offers expense management software for both individual and group use. The products are available as a web service that can be used with any computer browser and comes in the form of mobile application as well. It carries all essential functionality like... read more
ExpenseWire is an expense management solution that helps in simplifying expense reports for employees and get them reimbursed without any hassle. It automatically extracts relevant information by tracking, editing and submitting expenses from receipts, bills, cards and travel booking tools. Users... read more
Zoho Expense is an online expense reporting software that digitizes expense report creation, approvals and reimbursement. It let your employees record expenses just by uploading the receipts. Zoho Expense scans it and pulls out necessary information automatically. It also allows you to sort... read more
Spendesk is smart spend management software designed for both finance teams and employees. With flexible payments, approvals, automated receipt capture and real-time spend insights, finance can decentralize operational spending across the business without any loss of control or visibility.... read more
Finly is a cloud-based expense management solution that provides automatic report generation of all the expenses incurred by the employees or any user. Just like most of the expense management software, Finly also equips the OCR tool to scan paper and digital receipts of all kinds. Every relevant... read more
When it comes to real-time expense management, Abacus is one of the most frequently pronounced names in the industry. Abacus uses data and behavioural analytics to create expense reports and helps you to automate the entire reimbursement process. It offers real-time monitoring of all the expenses... read more
Chrome River Expense helps you to manage the expenses of your employees by automating expense reporting and enabling easy approval. It enables real-time monitoring of all types of expenses and assist you to keep them in compliance with the company’s policy. It is a web-based solution and has... read more
SAP Concur is an American software company offering expense management solutions as SaaS. It makes expense reporting simpler by employing the OCR mechanism to scan receipts and create accurate, detailed entries. Apart from entering data from paper receipts, Concur Expense also populates the digital... read more
Rydoo is an expense management software that offers automation in managing the expenses of the employees. It is suitable for corporations of all sizes. Apart from business organisations, it can also be used to manage individual expenses. It allows users/employees to scan receipts/bills of expenses... read more
Expense management software is highly useful in tracking expenses of employees in real-time and helping out the organization to obliterate extravagant costs. They offer one of the most straightforward and easy ways to add entries into the software database, which is used to prepare reports and compare them with the budget. But management doesn’t go easy. The type of software that you are looking for depends on the needs of your organization.
Said that there are also a few things that mustn't be missed out while choosing the tool of your choice.