Expense Management Software

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Top Rated Products

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Ramp

Ramp is a corporate card and spend management solution that helps companies of all sizes to accelerate growth without compromising on their finances. Boasting best in class user experience and a direct integration with the user's accounting solutions, the vendor states Ramp helps…

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MIP Fund Accounting

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.…

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Webexpenses

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…

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Rippling

Rippling gives businesses one place to run HR, IT, and Finance. It brings together all of the workforce systems that are normally scattered across a company, like payroll, expenses, benefits, and computers. This enables users to manage and automate every part of the employee lifecycle…

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Xero

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…

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Paylocity

Paylocity provides 24/7 access to your online payroll and human resource data management. Paylocity offers highly customizable payroll functionality, as well as HR, benefits administration, and time and talent management programs.

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2
Webexpenses

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…

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SAP Concur

SAP 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.

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4
Rippling

Rippling gives businesses one place to run HR, IT, and Finance. It brings together all of the workforce systems that are normally scattered across a company, like payroll, expenses, benefits, and computers. This enables users to manage and automate every part of the employee lifecycle…

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5
MIP Fund Accounting

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.…

6
Paycom

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.

7
Xero

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…

8
SAP Ariba

SAP Ariba provides technology offering 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.

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BQE CORE

BQE CORE is a business management solution built specifically for professional service firms. BQE CORE is a combination of a billing assistant, project management, and accounting solution. CORE is designed to do the hard work of delivering actionable insights directly to the user'…

10
Emburse Chrome River

Chrome River EXPENSE is expense management software, from Chrome River Technologies in Los Angeles, California.

11
Expensify

Expensify automates the entire spend management process. Scan receipts, track mileage, submit and approve expenses, manage corporate cards, reimburse employees, pay bills, send invoices, and book travel. Built for individuals and companies of all sizes, anywhere in the world.

12
Emburse Certify

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.

13
Navan

Navan (formerly TripActions) headquartered in Palo Alto offers their corporate travel management application of the same name, supporting messaging, travel rewards management, travel booking, and company policy compliance.

14
BigTime Software

BigTime IQ is time and expense tracking software from Chicago-based BigTime Software.

15
Coupa

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…

16
Workday Financial Management

Workday Financial Management is built on a global foundation that provides organizations with the core financial management capabilities expected from a modern cloud solution. It goes well beyond just managing financial processes to achieve greater insight, improve financial consolidation…

17
Airbase

Airbase headquartered in San Francisco offers a cloud-based accounts payable and spend management solution, and combines a pre-approval system with corporate cards, allowing users to manage the entire AP spend process in one place.

18
OpenAir PSA

NetSuite OpenAir is a cloud-based Professional Service Automation (PSA) product which includes capabilities around project management, resource management, project accounting, etc.

19
Stampli

Stampli is for Accounts Payable teams that want the efficiency of automation, but don’t want to rework their ERP or change their existing AP processes. Stampli provides support for the full range of native functionality for 70+ ERPs.

20
Emburse Abacus

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,…

21
Emburse Tallie

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…

22
Precoro

Precoro is a cloud-based solution for procurement process optimization. It aims to eliminate time-consuming manual procedures and human factor errors, and instead automates operations and centralizes purchasing processes. It enables users to:- Approve documents from any device using…

23
BrightHR

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…

24
Ramp

Ramp is a corporate card and spend management solution that helps companies of all sizes to accelerate growth without compromising on their finances. Boasting best in class user experience and a direct integration with the user's accounting solutions, the vendor states Ramp helps…

25
Emburse Nexonia

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…

Videos for Expense Management Software

Too Many Receipts? Switch Expense Software (Emburse Chromeriver, Sage, SAP Concur, Webexpenses)
05:28
In this video, we're going to discuss how to manage your expenses using the Sage Business Cloud, SAP Concur, Emburse Chromeriver, and Webexpenses.

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.

Learn More About Expense Management Software

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:

  1. 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.
  2. 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.
  3. 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.

Pricing Information

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.

Other Expense Management Products

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Frequently Asked Questions

Why use expense management software?

Expense management software allows businesses and employees to more easily track, attribute, and reimburse employee expenses. It centralizes the management process, and can automate routine manual tasks, saving time for managers and accountants.

What is expense reporting software?

Expense management software is sometimes referred to as “expense reporting” software. WHile these products usually still manage expenses, they focus more on easy and presentation-ready reporting. Most expense management software includes some reporting capabilities, but the depth and customizability of reporting varies by product.

What are the most crucial features to manage employee expenses?

Expense management software should always have the ability to document receipts, have a mobile application or interface, have some approval routing configuration, and be able to work with accounting software.

Where can expense management features be found?

Expense management capabilities are often bundled with other financial functions into suites, including accounting systems, ERP systems, and HR management suites.

How much does expense management software cost?

Expense management tools are usually priced per user per month. Most products start at $5-8/user/month, with custom pricing for larger organizations and enterprises.