Spend Management Software

TrustRadius Top Rated for 2024

Top Rated Products

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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.

All Products

(1-25 of 109)

1
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.

2
SAP Ariba

With advanced tools to automate manual processes and support close collaboration with suppliers, SAP Ariba helps streamline source-to-pay processes across organizations.

3
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.

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4
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.

5
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…

6
Zip Intake-to-Procure

Zip provides a place for employees to initiate a purchase or vendor request. Each request is routed for approval across procurement, finance, IT, data security, legal, and other teams, and Zip integrates into ERP and P2P solutions to create a PR or draft PO. The vendor states Zip…

7
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.

8
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…

9
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…

10
Lola.com

Lola.com, from Lola Travel Company headquartered in Boston, is a travel management platform featuring employee travel points and other rewards, travel spend tracking and management, generate travel itineraries and receipts, and other features.

11
ProcurementExpress.com

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…

12
GEP SMART

GEP SMART is a procurement platform, meant as an end-to-end unified procurement solution that provides synergy between finance and purchasing and process fluidity.

13
BILL Spend & Expense

BILL Spend and Expense (formerly Divvy) is an all-in-one expense management solution that combines free software with corporate cards to provide you with real-time visibility and customizable control over your business finances.

14
Brex

Brex headquartered in San Francisco offers a corporate card for expenses, ecommerce, as well as rewards card, and travel expense management.

15
Procurify

Procurify is a cloud-based purchase order approval workflow software. It is used by organizations of all sizes to track purchase orders from creation to final delivery.

16
Glean AI

Glean provides an Intelligent AP platform. Glean Analytics leverages untapped invoice data to surface relevant context, actionable insights, and savings recommendations.

17
Visa Spend Clarity

Visa Spend Clarity offers a suite of end-to-end spend management solutions to empower businesses of all sizes and levels of complexity to control spend, maximize visibility, and optimize cashflow. it is designed so that with it, financial institutions can deliver payment and spend…

18
Tradeshift Go

Tradeshift Go is a virtual credit card, serving as a procure-to-pay solution supporting real-time collaboration and employee requesting and purchasing, as well as spend tracking.

19
Spendesk

Spendesk is smart spend management software from the company of the same name in Paris, designed for finance teams and employees, presenting flexible payments, approvals, automated receipt capture and real-time spend insights, finance can decentralize operational spending across…

20
Workday Strategic Sourcing

Workday Strategic Sourcing, formerly Scout RFP, which was acquired by Workday in late 2019, is a collaborative, cloud-based solution that makes sourcing a strategic arm of the business by providing greater visibility throughout the entire sourcing and supplier engagement process.…

21
PLANERGY

PLANERGY s a SaaS-based spend management system that gives businesses more control over their financial operations. PLANERGY automates the entire Procure-to-Pay and AP Automation process giving real-time reporting dashboards, approval automation, to remove bottlenecks, control…

22
Penny Software

Cloud-based E-Source / Procure-To-Pay system that automates RFQs/RFPs, provide comparison and analysis. and push to maximizing savings. Penny can be used to cover the procurement cycle partially or completely. From request > processing internal approvals > dispatching RFQs/…

23
Gatekeeper

Gatekeeper is a Contract and Vendor Management Solution that brings visibility and transparency to contract and vendor sets, used to create a single source of truth with a central data repository, and to develop robust, scalable processes using automation.

24
Teampay

Teampay (Team Labs, Inc) headquartered in New York provides their distributed spend management platform, designed to give users total control and visibility over spending, and employees purchasing power.

25
Sievo

Sievo, from the company of the same name in Helsinki, is a SaaS procurement analytics solutions that includes Spend Analysis, Savings Lifecycle, Spend Forecasting and Contract Management.

Learn More About Spend Management Software

What is Spend Management Software?

Spend management software allows organizations to centralize visibility, approval, and tracking of business spending. Spending management includes both employee expenses and vendor payments, among other miscellaneous business spending. Spend management software helps businesses identify trends and improve spending efficiency across the organization by automating spending control policies where needed.

Spend management software bridges the gap between process-specific financial tools, like procurement software, and core systems like accounting platforms. Spend management software helps centralize spending data to give businesses a single source of truth on where, when, and how it is spending money. This functionality is particularly impactful for organizations that have traditionally siloed this data into different teams, departments, or business units, limiting the finance team’s visibility.

Spend Management vs. Expense Management

Spend management is often conflated with expense management. However, they are distinct, if related, software categories. Spend management is a broader process that spans across the organization. It touches on spending instances from materials procurement and logistics payments to individual employee spending requests.The goal of the software is to provide a holistic view into how the business spends money.

In contrast, expense management software is primarily focused on tracking and reimbursing individual employee expenses, and heavily overlaps with elements of travel management software. Spend management software often includes expense management capabilities, supported by features like corporate cards. However, expense management is only a subset of the functionality that spend management software can offer.

Spend Management Software Features & Capabilities

Spend management software will offer a range of features based on the target user base and use cases. However, every spend management product will at least have all or nearly all of these features:

  • Central view of spending data from across the organization
  • Spending request and approval workflows
  • Corporate cards
  • Spending controls
  • Accounts Payable/Bill payment automation
  • Spend reporting, including historical views and individual drilldown
  • Integrations with other financial systems, such as ERP platforms, procurement tools, and accounting systems

Spend Management Software Comparison

When comparing spend management products, consider these factors:

  • Reporting: All spend management software should include robust and customizable reporting features. Consider both the value of any prebuilt dashboard overviews and drill-down capabilities each product offers, as well as the ease of customizing these views.
  • Document capture/management: A core part of spend management is centralizing the system of record for spending across the organization. Consider how easy to use each product is, especially for end-users capturing receipts, invoices, or less structured spending documentation.
  • Automation: What manual processes are eating up the most time and resources for the business? Work with vendors to get demos of how they can automate those processes for you in addition to general automation capabilities. There are also some instances of proactive automation, such as recommending efficiencies and best practices the business isn’t currently leveraging.

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Pricing Information

Spend management software is usually priced on a per user, per month basis. Pricing often starts at $5-10/user/month and can scale up to $30+/user/month depending on the volume of users, cash flow, and level of integrations and vendor support. Some vendors also offer free versions of their software for personal or small business spend management. However, growing organizations are likely to quickly scale beyond any free plans.

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Frequently Asked Questions

What does spend management software do?

Spend management software provides a central source of spending data and workflows for the organization.

What’s the difference between spend management and expense management?

Expense management focuses primarily on individual employee expense tracking and reimbursement, while spend management encompasses all forms of spending within the organization.

Who uses spend management software?

Spend management software is used across company sizes and industries. The software is managed by finance members, but it is used by employees across an organization.

What are the benefits of spend management software?

Spend management software gives companies better control over and visibility into how they spend money. The software also helps companies improve spending inefficiencies and reduce oversights.

How much does spend management software cost?

Spend management software is priced per user, per month, and can range from $7/user/month to over $30/user/month.