Expense Management Software
These products won a Top Rated award for having excellent customer satisfaction ratings. The list is based purely on reviews; there is no paid placement, and analyst opinions do not influence the rankings. Read more about the Top Rated criteria.
Expense Management Software TrustMap
TrustMaps are two-dimensional charts that compare products based on trScore and research frequency by prospective buyers. Products must have 10 or more ratings to appear on this TrustMap.
Webexpenses is a global provider of online expense management software to businesses of all sizes across 70+ countries. The software is used across all industries, including retail, finance, technology, construction, and not for profit. Features of the Webexpenses desktop and mobile…
MIP Fund Accounting™ is a configurable fund accounting solution. The solution includes functionality for fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, and dashboards for nonprofits and government agencies.…
Concur is a SaaS expense report management product, and handles corporate travel booking, expense report automation, reimbursement, audit, and business intelligence, and corporate card integration. The product is used by over 15,000 clients. Concur is now an SAP company.
Oracle Cloud Enterprise Resource Planning (ERP) is a core suite of Oracle Cloud software-as-a-service (SaaS) applications. Oracle Expense Management and Oracle Risk Management are part of this solution. Other apps include Financials, Revenue Management, Accounting Hub, PPM, and…
Paycom is a core HR management software solution. It includes features such as talent acquisition and management, time tracking, and payroll management. It offers some automation capacities, particularly regarding payroll.
Xero is an online accounting software product for small businesses and personal finance. Its features beyond general ledger and double-bookkeeping include quotable invoicing, bank reconciliation, purchase order and expense management, and tax management. Third party apps can extend…
Chrome River EXPENSE is expense management software, from Chrome River Technologies in Los Angeles, California.
Expensify enables users to manage expenses, pay bills, send invoices, and book travel. Supports unlimited receipt scanning and mileage tracking to next-day reimbursement, to automate preaccounting systems. - Unlimited receipt scanning: Snap a photo of any receipt and Expensify 's…
BQE Core is a business management solution built specifically for professional service firms. According to the vendor, BQE Core is a combination of a billing assistant, project management, and accounting solution. The vendor’s value proposition is that Core does the hard work for…
SAP Ariba's Procurement capabilities are to provide innovations in guided buying and spot buy, plus supplier and catalog enablement, and integration with Ariba Network – which the vendor states is more than 4.6 million connected companies strong and growing.
Certify is travel and expense management software developed by the company of the same name in Maine, which merged with Chrome River in 2019 to form Emburse.
Harvest is an expense management, time tracking, and budgeting tool from Harvest in New York. It supports many accounting solutions as an add-on (e.g. Quickbooks, Xero), or it can function in a standalone fashion for some small businesses that have simple expense tracking and also…
Coupa’s cloud-native Business Spend Management (BSM) platform provides end-to-end processes that helps drive collaboration across for every business leader from supply chain, procurement, finance, treasury, compliance, and IT and supply chain leaders to help their companies to get…
NetSuite OpenAir is a cloud-based Professional Service Automation (PSA) product which includes capabilities around project management, resource management, project accounting, etc.
Abacus is a web and mobile application that helps manage employee expenses and reimbursements. Some key features include: Real-Time Expense Submission, Integrated ACH Payments, and Dynamic Custom Reporting. Abacus was acquired by Certify in summer 2018 and is now part of Emburse,…
Tallie is an expense reporting tool that integrates with other billing or accounting platforms (e.g. bill.com, Quickbooks, etc.) to present an expense management solution. It was supported by Certify since the 2017 merger with that company and Nexonia under the new company Certify…
Precoro is a cloud-based solution for procurement process optimization. No more time-consuming manual procedures and human factor errors. Automated operations and centralized purchasing processes only.- Approve documents from any device using email or Slack notifications. Streamline…
ProcurementExpress.com is designed for small to medium-sized companies to gain full control of purchasing. Team members raise requests against specific pre-defined budgets. Managers approve, decline, or comment on requests - straight from their inbox. Once approved, team members…
British company BrightHR offers a human resources platform which helps replace paper documents with edocuments and contains features for managing employee scheduling and ROTA, sick leave and tardiness, vacation and holiday shift planning, as well as providing employment law legal…
Acquired by Bill.com in May 2021, Divvy offers their expense management application and corporate credit card service, supporting virtual card functionality and pre-allocated budget, expense tracking and receipt retention, automatic fraud detection, and real-time spend tracking.
Upland PSA formerly (Tenrox) is a modular cloud project management, service delivery and billing solution that is designed to support globally dispersed customers and project workers who are operating in multiple remote locations, currencies, tax jurisdictions and time zones. Tenrox…
Zoho Invoice is a cloud-based invoicing solution designed to help small businesses with invoicing, tracking expenses, and accepting online payments. Key features include project billing, time tracking, reporting, customizable templates, and a client portaI. Teams using Zoho Invoice…
Rydoo (formerly Xpenditure) is a cloud based travel management solution that also handles the expense management process from receipt to accounting. After taking a picture of a receipt, Rydoo will extract all relevant data, and make it ready to be exported to the accounting software…
Nexonia, by Emburse, is a tool designed to streamline employee expense reporting. It is designed to increase visibility into spendings and make the expense tracking, approval, and reporting process paperless. Nexonia was part of a merger with Certify in 2017 and is now part of the…
What is Expense Management Software?
Expense Management Software is a financial product that allows users to submit, track, process, and reimburse employee expenses. It is also used to invoice billable hours and/or reimbursable project expenses.
Expense management capabilities are often found within broader accounting products, as well as in standalone tools. You may also be able to find these features bundled with tools for procurement, invoicing, budgeting, and other financial processes.
There are three main users of expense management software:
- Employees who submit their own expenses or project hours
- Administrators who review, approve, and report on employees' expenses.
- Bookkeepers or accountants who balance the general ledger or close the business’s books
Expense Management Software Features & Capabilities
Typical expense management features facilitate and automate invoicing and approval processes. Expense management software usually includes some document management for capturing receipts and creating an audit trail. This allows administrators to approve expenses (e.g. for travel) and generate reports.
Most expense management products should also include these core tracking and reporting capabilities:
- Receipt scanning and management
- Manual expense entry and administrative editing
- Mobile accessibility
- Customizable expense approval routing
- Expense tagging
- Configurable expense policies
- Basic expense reporting
- Integration with leading 3rd-party accounting systems
Many expense management products also offer additional features that can benefit companies depending on their scale and use case, including:
- In-system business cards or pay cards
- In-system reimbursement
- Budget limit enforcement
- Customizable reporting
- Integrations with large-scale financial systems, such as Enterprise Resource Planning systems
Employee Reimbursement vs. Project Expense Invoicing
Though some tools span both use cases, products in this category are often more focused on either reimbursing internal employees or capturing time and resources spent on client projects, in order to generate expense invoices. These invoices may be for billable project hours (tracked against a project or contractor budget), or for reimbursable expenses, like materials used. In terms of this second use case, there is some overlap with time tracking software.
Expense Management Software Comparison
When comparing different expense management software, consider these factors:
- Level of automation vs. manual entry: How many of your business’s employees’ expenses can be automatically input, routed to the appropriate approver, and formatted for reporting? The ability of your expense management software to automate various functions and processes will become increasingly impactful as your business scales in size and number of discrete expenses. Product-offered pay cards, or prebuilt integrations with the company cards you already use, will significantly improve how easily you can automate these functions.
- Integrations: Most expense management software will be able to integrate with some external financial systems. However, they may not already integrate with your specific accounting system. Be sure to track which systems can natively integrate with your accounting, tax prep, or ERP software.
- Reporting capabilities: When evaluating expense management software, consider what prebuilt reporting capabilities each product offers, and how customizable the reporting features are. Your expense reporting needs may be affected by what regulatory bodies, external stakeholders, and internal leadership or management you report to. Given the range of possible reporting needs, not all products may be able to meet the same level of requirements.
Expense management software is usually priced per user per month. The starting price is in the range of $5 to $10 per user per month. There are typically price breaks for large numbers of users. There may also be implementation costs if clients want to integrate with other business systems or build organization-specific workflows.
The following expense management software offer award-winning customer relationships, feature sets, and value for price. Learn more about our Best Of Awards methodology here.