Expense Management Software: The 12 Best Solutions

expense management software

Expense management is crucial for businesses to maintain financial health. We’ve compiled a list of the 12 best Expense Management Software solutions to simplify this task. These tools offer features that can significantly benefit your organization. According to Statista, the global expense management software market is projected to grow at a CAGR of 11.4%. Explore these top solutions in our guide and make an informed choice to optimize your financial processes.

12 Leading Expense Management Softwares

1. Pennylane

Pennylane’s expense management mobile app offers a range of features to streamline your financial processes. With a user-friendly filtering system, you can quickly locate supporting documents for expense reports and easily change the status of each ticket with a single click, marking them as ‘paid,’ ‘to validate,’ or ‘to pay.’ You can filter notes by supplier and date; attaching invoices is a breeze – snap a photo.

On top of that, Pennylane makes it convenient to create invoices and quotes while on the go. The software visualizes disbursements, receipts, and your company’s finances, offering valuable insights. Moreover, Pennylane fosters seamless collaboration between managers and accountants, enhancing overall efficiency.

2. Axonaut

Axonaut offers a versatile expense management solution that caters to the needs of both business managers and employees. This software simplifies invoicing processes by seamlessly linking customer transfers to service providers’ accounts.

With Axonaut, you gain access to a user-friendly dashboard that helps regulate the flow of expense reports, providing managers with an insightful overview of expenses. The system allows easy data transfer to Excel and the Internet, making it suitable for businesses of all sizes, including SMEs and TPEs. Additionally, Axonaut facilitates swift information exchange between clients, entrepreneurs, and accountants, enhancing collaboration and efficiency.

3. Spendesk

Spendesk is trusted by several prominent companies, including Deezer, Brut, and Doctolib, for its valuable features. This application offers an efficient archiving and storage system, granting entrepreneurs real-time access to an overarching view of their expense reports’ status. With an innovative interface, reimbursement and expense verification become a simple one-click process.

Spendesk’s digitization of expense reports streamlines administrative tasks, enabling accountants to manage expenses seamlessly on web and mobile platforms. The platform also incorporates a mileage allowance calculation tool for employees, which complies with German Per Diem regulations. This comprehensive solution enhances internal collaboration and efficiency.

4. Mooncard

Mooncard’s expense management system streamlines business operations with its personalized system for controlling expense reports. Offering over 60 features related to dates, fee limits, and purchase tracking, Mooncard enables companies to tailor authorizations to professional needs. This software seamlessly integrates with a Mooncard Visa, automatically sending notifications and justification requests for each employee purchase.

Mooncard enhances employee responsiveness by providing tools for monitoring expenses, including a mileage measurement system that helps fleet managers anticipate budget overruns. With its efficient monitoring tools and customizable parameters, Mooncard saves companies valuable time managing expense reports.

5. Rydoo

Rydoo’s expense management solution streamlines the handling of expense reports through automation, reducing reimbursement processing times and enhancing employee productivity. This user-friendly application also allows for easy document capture through photographs, enabling employees to submit invoices via email while on the go.

Rydoo boasts an AI feature to extract essential information from receipts, including provider names, dates, and amounts. Furthermore, it offers efficient control over the expense report workflow, allowing accountants to approve or reject submissions quickly. The software includes an administration panel for tracking tax rates in specific regions and automatically reconciles transactions from card providers like AmEx, Mastercard, and Visa.

6. Jenji

Companies rely on as many as 37 tools to manage their expense reports simultaneously. In this context, Jenji emerges as a comprehensive solution tailored to the needs of large enterprises. Jenji’s ‘all in one’ system effectively streamlines expense analysis and budget management processes. It also provides secure digital archiving for data storage.

One of Jenji’s key advantages is its real-time visibility feature, which optimizes transaction payments by eliminating approval delays. Adding new collaborators is a breeze with a simple click, and the platform is highly adaptable to a company’s spending policies. Various team members, including financial managers and accountants, can utilize this versatile tool to ensure smooth and efficient expense management.

7. Dext Prepare

Dext Prepare simplifies capturing and automating expense reports, making it a valuable tool for businesses. Whether dealing with customer transactions or receipts, this software securely compiles them into a centralized storage system. The accompanying mobile application facilitates easy data access for the company, and its document data extraction boasts a remarkable 99% recognition rate.

Furthermore, Dext Prepare offers versatile data export formats for seamless integration with the company’s management software. This time-saving solution enables employees to focus on productive tasks while streamlining the handling of expense reports. Additionally, it centralizes expense reports, enhancing efficiency, and even anticipates the arrival of supporting documents through a digitized system.

8. Cleemy

Cleemy software offers effective control over expense report management for all users. Cleemy automatically gathers invoices through dematerialization, including a notification feature to monitor employee transactions.

Cleemy also synchronizes payment cards for all service providers within the company, collecting transactions and invoices for expense reports. This tool enhances accountant efficiency and caters to various user profiles, including associations, companies, and international groups. Cleemy continuously updates its interface to align with each user’s specific strategy, making it a versatile solution for expense management.

9. Expensya

Expensya offers a versatile expense management solution that caters to many companies, from auto entrepreneurs to large multinational corporations. This user-friendly software lets users focus on their core activities while controlling their business expenses.

With features like multi-budget management, personalized card settings, and automatic accounting integration, Expensya’s interface simplifies expense management. Beyond expense reports, the system handles general expenses, fixed prices, and mission orders. Expensya collaborates with various partners, including AirPlus International, Microsoft, Crédit du Nord, and more. Users can easily track expenses through a comprehensive interface, providing a global view of their financial transactions.

10. N2F

N2F offers a robust set of features for companies seeking efficient expense management. This tool automates the collection of supporting documents from suppliers and travel agencies and is compatible with Android and iOS mobile devices, even functioning offline. The expense management solution boasts numerous settings, a smart invoice capture feature, and a mileage calculation system. With N2F, companies gain full control over expense report approval and verification. Whether for large groups, ETIs, or SMEs, N2F is a versatile solution. The platform provides customizable or pre-configured graphs for enhanced visibility and offers real-time monitoring capabilities to keep the company on track.

11. Anytime

Anytime is a tool designed to enhance the productivity of every employee in a company. It provides each employee with a personal MasterCard for conducting professional transactions. The application enables managers to easily review and validate expense receipts, with the added convenience of importing invoices through the app’s camera.

Anytime’s intelligent system identifies crucial information in receipts, such as VAT, and automatically associates invoices with transactions. To control expenses effectively, managers can set expenditure limits through dematerialization. Furthermore, managers can approve or reject expense reports as needed, ensuring financial control within the organization.

12. Onexpense

Onexpense enhances employee responsiveness by simplifying expense management. The process involves capturing receipts, creating expense reports, and exporting them to accountants. Onexpense offers versatility, compatibility on PC, Android, and iOS platforms, and automated invoice processing. Notably, the application features a powerful OCR system to extract key data from receipts rapidly.

Pricing varies depending on the number of users, offering options for both yearly and monthly subscriptions. Onexpense serves many users, including self-employed individuals, VSEs/SMEs, large corporations, and accountants. The software even provides a free trial, allowing prospective users to assess its suitability for their needs.

How to Create Expense Reports?

Expense reports serve as a convenient method for monitoring and managing business expenses. Establishing a well-organized system is crucial to ensure a smooth and efficient process. The first step involves selecting suitable expense management solution, considering user-friendliness, comprehensive support for travel-related expenses, intuitive tracking and approval tools, and robust reporting capabilities.

When choosing software, integrating your existing accounting system and robust data security should also be prioritized. Once the appropriate system is in place, employees can initiate the expense report process by creating and submitting claims for their incurred business expenses. The next important step is establishing clear approval procedures to validate and approve reimbursement requests. Once approved, the payment process can be initiated.

What Are the Characteristics of Expense Report Management Solution?

Expense management software provides businesses with various features designed to simplify expense handling. Key functionalities include:

  • Expense Claims Tracking and Approval: Employees can easily submit their expense claims, while the system offers an efficient approval system for quick review.
  • Budget Management: The software facilitates expense tracking against budget limits, offering budget capacity insights and comprehensive spending reports.
  • Accounting Integration: Seamless integration with existing accounting systems ensures smooth financial management.
  • Advanced Analytics: Intuitive analytical tools help understand spending patterns and make informed, data-driven decisions.
  • Security: Robust security measures are in place to safeguard sensitive data at all times.

Final Thoughts

Expense management software allows businesses to control and reduce expenses while enhancing user satisfaction effectively. Selecting a provider that offers a customizable solution tailored to your specific needs is crucial. By carefully comparing features and evaluating customer service, you can identify the ideal solution for your business. If you’re new to the SaaS industry and require expert guidance, our team is here to assist you. We provide comprehensive business analysis, management, and startup consulting services to help you establish and grow your new venture with minimal effort.