Top 10+ Best Expense Management Software in 2019

It is needless to say that businesses run on finances and keeping track of expenses of companies is a basic necessity. Expense management software eases this process of recording transactions and keeps a hold on the understanding of the finances involved. Expenses management software is generally used by businesses to perform several financial functions. Ranging from a single-entry application for tasks such as check writing and bookkeeping to sophisticated double-entry solutions that offer all advanced features for financial functions, this software provides a one-stop solution for companies regarding their finances. An expense management software provides visibility, control and global compliance to help companies ensure expense report accuracy, reduce expenses and pay employees on time. If you are looking forward to having this software, have a look at the top-rated list by SoftwareWorld before purchasing an expense management software.

Best Expense Management Software

» Our score is based on user satisfaction (reviews & ratings), social media buzz, online presence, and other relevant information. If your company is part of this list, use this badge on your website and social media to let your readers know about your success.

List of Best Expense Management Software | Top Business Expense Tracking Software Reviews

1. FreshBooks – Cloud Accounting Software for Small Business Owners

Our Score 99/100

About FreshBooks : FreshBooks is an online invoicing and time tracking service that saves you time and makes you look professional – Fortune 500 professional. We believe financial record keeping should be easy, fast, (and perhaps even fun), but still detailed enough to satisfy your accountant. FreshBooks is easy to use and you can try it for free.

FreshBooks Expense Management Features : Invoice Management, Multi-Currency, Receipt Management, Receipt Upload, Time Tracking

“It’s beautiful and really well designed. The invoicing, accepting online payments and keeping track of expenses couldn’t be simpler.” – ROMAN MARS

FreshBooks Reviews

FreshBooks

Canada

201 – 500

2003

$15.00/month

Yes, get a free trial

4.5

2134 Reviews

4.6

207 Reviews

2. Expensify – Cloud-based receipt & expense management

Our Score 98/100

About Expensify : Expensify does “expense reports that don’t suck!”? If you’re sick of the painful expense reporting process, Expensify is the fastest and easiest way to manage your business expenses. Now you can get rid of those envelopes full of receipts. Just snap a quick picture of the receipt with our App and you’re done! Our SmartScan technology will read your receipt and input all the information for you. We can also automatically import expenses directly from your bank and credit card and generate an IRS guaranteed e-Receipt.

Expensify Expense Management Features : Approval Process Control, Invoice Management, Multi-Currency, Receipt Management, Receipt Upload, Reimbursement Management, Spend Control, Time Tracking, Workflow Management

” Expensify has amongst the best support structure for users of any past or current software used in my organization.From the initial setup process to the day to day troubleshooting of any obstacle encountered while using Expensify ; they have been of excellent assistance.” – Justina E.

Expensify Reviews

Expensify

United States

51 – 200

2008

$5.00/month/user

Yes, get a free trial

4.5

377 Reviews

4.3

1305 Reviews

3. Sage Intacct – Best-in-class Cloud ERP for Finance

Our Score 97/100

About Sage Intacct : Sage Intacct is 100% invested in meeting the needs of financial professionals, 100% focused on customer success, and 100% committed to the cloud. That’s who we are, and always will be. Thousands of organizations rely on Sage Intacct’s best-in-class cloud ERP software, which is part of the Sage Business Cloud, to deliver the efficiencies and insights that keep them on the fast track of growth, from their first million to their first billion, and beyond.

Sage Intacct Expense Management Features : Approval Process Control, Invoice Management, Multi-Currency, Receipt Management, Receipt Upload, Reimbursement Management, Spend Control, Time Tracking, Workflow Management

“Great and fantastic software. Easy to use and implement. The way that you can use the software in a creative manner and not just as a GL program as most programs require. The flexibility of the dimensions are a key for us.” – Jason G.

Sage Intacct Reviews

Sage Intacct

United States

501 – 1000

1999

$425.00/month/user

Yes, get a free trial

4.0

237 Reviews

4.2

575 Reviews

4. Replicon – Gain full insights into all costs and expenses

Our Score 96/100

About Replicon : Replicon, the Time Intelligence™ company, has over 20 years of industry leadership and is pioneering a new approach to time management. Time Intelligence elevates time as a strategic asset within an organization, to improve operational productivity, performance, and profitability. Replicon’s Time Intelligence Platform offers solutions for global time and gross pay compliance, enterprise time management for ERP, business operations software for professional services, and an SDK for continued development..

Replicon Expense Management Features : Approval Process Control, Invoice Management, Multi-Currency, Receipt Management, Receipt Upload, Reimbursement Management, Time Tracking, Workflow Management

“Part of what drew us to Replicon was the accessibility of their solution. It gives our teams secure access to their schedules wherever they are and on any device, including mobile.” – Nick Haworth

Replicon Reviews

Replicon

United States

201 – 500

1996

$5.00/month/user

Yes, get a free trial

4.5

276 Reviews

4.2

227 Reviews

5. Zoho Expense – Expense reports, the easy way.

Our Score 95/100

About Zoho Expense : The intuitive dashboard offers insights on various aspects such as the Unsubmitted and Submitted reports summary, the amount that is to be reimbursed, number of unreported expenses, etc. The Analytics section provides exhaustive information about the spending of the company, with reports ranging from Expense Details to Policy Violations. Zoho Expense joins hands with a wide range of applications, across platforms. It closely integrates with the Zoho ecosystem; with apps like Zoho CRM, Zoho Books, Zoho Invoice and Zoho People. It can also be integrated with QuickBooks Online, to take care of your accounting.

Zoho Expense Expense Management Features : Approval Process Control, Multi-Currency, Receipt Management, Receipt Upload, Reimbursement Management, Spend Control, Workflow Management

“The expenses of our company are in order thanks to Zoho Expense, it even allows us to make a more thorough and adequate planning to our financial reality as a company. Records of payments, invoices, operating expenses, spending relationships and reports, are many of the benefits offered by Zoho Expense.” – Everianny B.

Zoho Expense Reviews

Zoho Corporation

United States

5001 – 10000

1996

$2.50/month

Yes

4.5

276 Reviews

4.5

251 Reviews

6. Fyle – Intelligent Expense Management

Our Score 95/100

About Fyle : Fyle is the next-generation spend management platform for businesses that employees actually love using. Fyle comes with plugins that makes the entire process of fyling an expense similar to liking a post on facebook. Its that easy. 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 complete the transaction with a single click.

Fyle Expense Management Features : Approval Process Control, Invoice Management, Multi-Currency, Receipt Management, Receipt Upload, Reimbursement Management, Spend Control, Workflow Management

“Fyle has minimized manual efforts in the expense management process at Capillary – Employees claim expenses in one-click while our finance team is saving hours in processing expense reports now.” – Vijay A M

Fyle Reviews

Fyle

India

11 – 50

2016

$4.49/month/user

Yes, get a free trial

4.5

121 Reviews

4.6

48 Reviews

7. Pleo – Company payment cards & automated expense reporting

Our Score 94/100

About Pleo : Pleo offers smart payment cards for employees enabling them to buy the things they need for work, all while keeping the companies in control of spending. Pleo revolutionises business spending by reducing administrative complexity, eliminating expense reports and simplifying bookkeeping.

Pleo Expense Management Features : Approval Process Control, Invoice Management, Receipt Management, Receipt Upload, Spend Control, Workflow Management

“It is incredibly easy to use, it has a lot of functionalities and whenever I needed help from the support team I always had a great experience. I do a lot of purchases, probably 15 a day and I’ve never used an expense system in my career that was that easy.” – Adina K.

Pleo Reviews

Pleo

Denmark

51 – 200

2015

$7.00/month/user

Yes, get a free trial

5.0

41 Reviews

4.9

26 Reviews

8. SlickPie – Free Accounting Software for Small Businesses

Our Score 93/100

About SlickPie : SlickPie is free online accounting software designed for small businesses, offering online invoicing and billing, multicurrency, quotes and estimates. bank reconciliation, financial reporting, expense tracking, sales tax management, source document upload, and more.

SlickPie Expense Management Features : Invoice Management, Multi-Currency, Receipt Management, Receipt Upload, Spend Control

“Easy Interface and Lucid design. The Fact itself that this is completely free cloud-based accounting tool. A free CLoud Based accounting tool suitable for early adopters” – Manjur A.

SlickPie Reviews

SlickPie

Canada

02 – 10

2015

Not provided by vendor

Yes, get a free trial

4.5

47 Reviews

4.8

12 Reviews

9. Rydoo – Business travel booking & expenses management platform

Our Score 92/100

About Rydoo : Rydoo reinvents business travel and expense management for high-growth companies and enterprises. Thanks to the expertise of the two founding startups – Xpenditure and iAlbatros – it originated, Rydoo’s app covers the full scope of any trip or expense to contribute to a more fulfilling work environment.

Rydoo Expense Management Features : Approval Process Control, Multi-Currency, Receipt Management, Receipt Upload, Reimbursement Management, Spend Control, Time Tracking, Workflow Management

“For us (Deloitte), it is very important to constantly innovate our processes and tools, to reduce administration and to increase efficiency. Thanks to Rydoo we know faster how much we spent on a certain project or client.” – Cindy Peeters

Rydoo Reviews

Rydoo

Belgium

201 – 500

2011

$5.00/month/user

Yes, get a free trial

4.5

164 Reviews

4.4

327 Reviews

10. Avaza – All-in-one, Client-focused Project Management for Teams

Our Score 91/100

About Avaza : Avaza is the leading all-in-one software for running client focused businesses. Avaza allows businesses of all sizes to more easily and effectively manage team projects, time tracking, expense reporting, quoting & invoicing. It can be accessed simply via a web browser from anywhere in the world on any device.

Avaza Expense Management Features : Approval Process Control, Invoice Management, Multi-Currency, Receipt Management, Receipt Upload, Reimbursement Management, Time Tracking, Workflow Management

“Online support is always fast and available 24/7! Avaza has helped me organize all my activities for the whole week and make sure that I don’t forget anything! It is a really helpful app!” – Juanita Latorre Cabra

Avaza Reviews

Avaza Software

Australia

11 – 50

2014

$9.95/month

Yes, get a free trial

4.5

166 Reviews

4.5

96 Reviews

11. Psngr – Log & Reimburse Business Mileage

Our Score 90/100

About Psngr : Psngr (Passenger) simplifies mileage tracking and expense reimbursement for mobile workforce. Psngr is an automatic mileage tracker for employees and self-employed individuals. The iOS or Android app logs all your trips automatically and generates monthly and annual reports for tax-deduction or reimbursement.

Psngr Expense Management Features : Approval Process Control, Multi-Currency, Reimbursement Management, Time Tracking

“As a real estate agent, I drive daily with my own car to property viewing and meetings. I realized that I was spending hours every month on finalizing my mileage expenses paperwork. Then I found Psngr app. Can’t imagine going back to manual logging!” – Jason Crowley

Psngr Reviews

Psngr

Netherlands

02 – 10

2015

$4.00/month

Yes, get a free trial

4.5

60 Reviews

0.0

0 Reviews

12. Expensya – Expense management & reporting with recognition technology

Our Score 89/100

About Expensya : Expensya offers an all-in-one solution to manage business expenses for companies of all sizes. With more than 4000 companies using it all around the world, Expensya automates expense reporting in more than 60 countries. Expense reports, mileage expenses and reimbursement procedures of your business expenses are a hell of a job for you and your company? Discover expense reports of tomorrow: zero paper, zero manual data entry and 100% mobile. Whether you are a mid-sized company, an international group or an independent contractor, Expensya offers the functionalities you need.

Expensya Expense Management Features : Approval Process Control, Invoice Management, Multi-Currency, Receipt Management, Receipt Upload, Reimbursement Management, Spend Control, Workflow Management

“Less time spent on expense tracking, easier checks, extracts for reimbursement of employees and rebilling to customers. We found the tool easy to configure and deploy. Our end users are quite happy with automatic recognition of bills (very efficient). Online support is highly available and efficient. We use the tool on iOS, Android and web. We use the solution in three countries.” – Rodolphe A..

Expensya Reviews

Expensya

France

51 – 200

2014

$5.83/month

Yes

4.5

21 Reviews

0.0

0 Reviews

Get Quick Comparison of Top Expense Report Software

Expense Report FeaturesFreshBooksExpensifySage IntacctRepliconAvazaFyleRydooPleoSlickPiePsngr
Price$15.00/ month$5.00/ month/user$425.00/ month/user$5.00/ month/user$9.95/ month$4.49/ month/user$5.00/ month/user$7.00/ month/userNot provided by vendor$4.00/ month
Approval Process Control        
Invoice Management        
Multi-Currency         
Receipt Management         
Receipt Upload         
Reimbursement Management       
Spend Control     
Time Tracking       
Workflow Management       

Expense Management Software Buyer's Guide

Tracking and managing expenses were a tiresome process for organizations. All the expenses were handled based on paper receipts, and there were no backups. If you lost some paper bill, you lost the information or cash. All this has now changed with expense management software to handle various financial functions.

» What is Expense Management Software?

Expense management software helps your organization in multiple ways, especially by simplifying and automating a business expense entry, eliminates the paper trail, streamlines review, and reduces administrative effort. The use of high-quality expense tracking systems has become necessary for all sizes of businesses and makes it easy to stay on top of your expenses.

» What are the Features of Expense Management Software?

Businesses are making use of expense management software to process, pay, and audit employee-initiated expenses. The expense management system enables your employees to input expenses for approval through both browsers and mobile applications. The software analyzes your business overall expenses, controls excessive spending, and cost-saving opportunities.

It should allow you to have full visibility of and track employee use of business financial resources. Your expense management software should have full features that offer functionality such as invoicing and inventory. The basic features and competencies each expense management system should have are:

› Expense Records 

This feature facilitates you stay on top of your resources, even from your mobile or tablets. It tracks and follows expenses and stores them in robust databases with in-built search filters.

› Invoice Management 

Your software should have this feature to strengthen customer and external partner relationships, as well as helps companies to use their resources more appropriately. This way, they can take hold of early payment discounts, strengthen compliance, reduce risks, and so on.

› Merging Expenses 

Expense tracking software mergers your expenses, categorize them, and attach them to any report, helping you to eliminate the risk of double entries and expense errors.

› Receipt Management

The software saves all the important details without the need to import the data manually, when the receipts are automated, as well as allows customization as you need.

› Approval Process Control

Your software should allow multiple users and they are secured with assigned role permissions and tasks. Everything you access is highly controlled and only admin can approve the data being inserted in the system.

› Integration 

The software you have chosen should integrate commonly with other systems such as time tracking software, payroll software, travel management, workforce management software, and accounting software.

› Mobile App 

Look for the software that facilitates business travel and expense management. The automated app should include voice recognition, mileage tracking, and expense detection features to help you save time and increase efficiency.

» What are the Benefits of Expense Management Software?

One of the best things about the Expense management tools is, it can be used for a variety of programs too. The software track expenses allowing users to report and forecast future expenses and so some customization. Some of the most distinctive benefits organizations experience from using expense management software:

› Efficient Tracking of Travel Expenses

The expense management software allows your organization to simplify tracking and reimbursement of travel expenses. Especially, the software benefits a lot for organizations with a high number of employees who frequently travel.

› Streamlines Expense Management 

The more your employees travel, the more they spend on their travel and business arrangements. Employees expect to be reimbursed as soon as possible, while employers need to ensure that the expenses comply with their companies policies and approved before being processed. This process is simplified with the expense management software.

› Reduces Processing Errors

While submitting or processing expense reports manually, it is possible for errors. This is where exactly expense tracking tools come conveniently for this challenge, making your employee’s job easy.

› Tax Risk Mitigation

The software is critical for maintaining data accuracy and allows no mistake. It helps you in differentiating legitimate and illegitimate expenses and organizes them in categories, and reports on every expense that are claimed accordingly.

› Flexible Risk Responses and Fraud Reduction

Without any requirement for installing additional infrastructure, the software can recover saving fast on implementation cost.

› Compliance With Regulations

Being compliance with internal and external regulations is the top priority for any company, regardless of your industry. The expense management software ensures they track legislative changes automatically and update system data to reflect this.

› Reliable Expense Management

With the expense management software, rules are rules. Employees will in advance know what they have to ask for and what not to. The software enables automated approval and payoff, motivating requestors and confirmers to act fast.

» What is the Cost of Expense Management Software?

Pricing details are considered vital for any business when they determine to buy a software product. It is important to remember not to get saddled with long-term licensing and subscribe to long-term contracts. It is recommended to ask your software provider about exit policies that enable you to move on to other software if you feel the services offered by the current software are not satisfying.

The best expense management software meets compliance and security requirements. So, do a little research on the internet to find out and shortlist a few software that meets your requirements. You should also get to know how the software provider protects your sensitive data and do they meet any security needs of your specific industry.

The price of the software ranges from the basic tool suites to expensive and accurate programs. Usually, the price starts from $4.99/month or $5/user/month. The best way is to sign up for at least a couple of free trails or request for a demo or basic unpaid plans from the top expense management software providers. This opportunity allows you to test the important elements and get a good comparison of the software.

» Conclusion

The expense tracking software is powerful and simple that tracks business expenses incredibly easy. With a glance, you will get to know what you are spending and how profitable you are. Any of these software products would be a good choice for your business depending on your needs. However, it is important to choose a service that is affordable, user-friendly, and that scales as your business grows. Ultimately, you need not have to reconsider your decision down the road.

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