The 7 greatest spend administration software program in 2023

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Whether or not your small business is scaling up or simply setting out, optimizing your money circulation is a high precedence. From worker reimbursements and software program subscriptions to enterprise journey bills and utility prices, finance managers are tasked with benefiting from each greenback. 

However with out the fitting instruments to assist them handle firm funds, finance managers are caught with spend administration processes which can be extremely time-consuming, arduous, and liable to errors. 

That will help you resolve on the most effective spend administration answer for your small business, right here we undergo what spend administration software program does and its advantages, and supply an outline of the seven greatest spend administration options in the marketplace. 

What’s spend administration software program?

Spend administration covers extra than simply worker spending and bills. Whereas expense administration software program focuses totally on particular person expense monitoring and reimbursement, spend administration encompasses all sorts of spending inside a enterprise

For instance, spend administration covers lease, utilities, supplies, journey, promoting, insurance coverage, taxes, skilled providers, and different miscellaneous enterprise bills.

Spend administration software program, then, helps companies observe and handle all of their non-payroll-related prices, helps them analyze spending to determine alternatives for price financial savings, and forecast and optimize future budgets. It additionally helps them implement insurance policies and controls to assist them hold spending inside price range. 

There are numerous instruments in the marketplace for startups and extra established companies — starting from enterprise spend administration options to modular choices inside bigger software program suites — to assist companies handle their money circulation to spice up enterprise efficiency. 

Advantages of utilizing spend administration software program 

Whereas spend administration is the duty of finance managers, the benefits of spend administration software program have a direct affect on a enterprise’s backside line. Listed below are just some advantages of utilizing spend administration instruments: 

  1. Elevated effectivity: By way of automation and information evaluation, spend administration methods simplify the method of monitoring, managing, and controlling spending, which allows companies to spice up their general effectivity. 
  2. Improves all areas of the enterprise: Higher spend administration processes profit all areas of the enterprise. For instance, integrating spend administration platforms with a contemporary journey administration platform akin to TravelPerk helps finance managers higher streamline and management journey bills and implement firm journey coverage. 
  3. Decreased prices: Spend administration options give finance managers higher visibility into spending patterns to assist them determine and cut back redundant prices. 
  4. Enhanced spending visibility: These instruments present detailed reviews and analytics to present monetary managers granular insights into enterprise expenditures, enabling them to make extra knowledgeable selections. 
  5. Automated duties: Finance managers profit from automations akin to approval workflows, expense evaluations, and reconciliation, which frees up time for them to deal with optimizing spend in different areas. 
  6. Improved compliance: Spend administration software program can construct companies’ particular insurance policies into the software program to make sure that spending stays in compliance.

The 7 greatest spend administration software program options

Beneath, we study seven of the most effective spend administration software program options for finance groups and managers. In addition to an outline of every device’s primary providers and performance, we additionally check out:

  • Key options and ease of use
  • Buyer rankings on software program evaluate websites, G2 and Capterra
  • Every answer’s most rated options
  • Pricing choices 
  • Languages supported by the answer

1. Airbase 

Airbase is a spend administration platform designed to assist organizations automate their accounts payable and accounts receivable processes, management enterprise spending, handle invoice funds, and streamline the handbook processes of bill administration, expense administration, and money circulation administration. 

The platform additionally helps real-time reporting for all non-payroll spend, and division heads and price range house owners can view up-to-date spending info by division, workforce, and vendor. 

Customers can set approval workflow automations, create customized guidelines and mechanically route approvals to a number of approvers, set pre-approval standards, and ship approval requests through electronic mail and Slack. 

Airbase noteworthy options

  • Airbase presents each bodily and digital playing cards and organizations can earn limitless money again throughout all classes of spend when making purchases. 
  • The platform helps worldwide multi-subsidiary assist and buy orders with automated 3-way matching. 
  • Airbase makes use of optical character recognition (OCR) expertise to scan invoices and create payments. 
  • Customers can mechanically create, execute, and observe a straight-line amortization schedule for each digital card and invoice fee transactions.
  • When staff scan receipts, Airbase scans and populates the expense particulars, submits the report for approval, and sends the reimbursement on to staff’ financial institution accounts. 
  • The platform allows approvers to set obligatory fields, a time window for submission, and price range limits.

How clients price Airbase

G2 score: 4.8/5 (as of February 2023)

Capterra score: 5/5 (as of February 2023)

Airbase’s most rated options 

The next are Airbase’s most highly-rated options by actual customers on Capterra

  • Budgeting/forecasting: 5/5
  • Receipt administration: 4.8/5

Airbase pricing 

Airbase presents three totally different subscription packages (Customary, Premium, and Enterprise). The supplier operates a quote-based mannequin and doesn’t share its pricing info publicly. 

Languages supported by Airbase

Airbase solely helps the English language. 

2. Teampay 

Teampay is a cloud-based spend administration device that helps companies handle, management, and observe bills. With automated buying workflows and reconciliation, staff should purchase what they want, and all transactions and funds are mechanically coded and immediately reconciled to an organization’s ERP answer. 

The platform additionally allows customers to submit, approve, and observe bills, handle budgets, and reconcile accounts. Teampay integrates with Quickbooks On-line, Xero, Intacct, and Netsuite to make sure firms can entry up-to-date, correct information.

Teampay noteworthy options

  • The device automates the gathering and reconciliation of buy information and captures an audit path of all spending conversations in a single place.
  • Teampay helps automated bill processing and buy order matching, routing for approval and fee, and makes use of OCR expertise to mechanically scan bill information. 
  • Teampay offers each bodily and digital playing cards and helps worker expense administration by making certain each transaction complies with firm coverage.
  • The platform’s proprietary Buy Assistant chatbot integrates with Slack and Microsoft groups, guides staff by the buying course of, and collects approvals upfront. 
  • Teampay centralizes all up to date spend information in actual time and offers report dashboards for fast visibility into firm spending. 

How clients price Teampay

G2 score: Teampay isn’t listed on G2.

Capterra score: Teampay isn’t listed on Capterra.

Teampay pricing 

Teampay doesn’t listing its pricing info publicly. 

Languages supported by Teampay

Teampay solely helps the English language.

3. Divvy 

Divvy is an all-in-one expense administration system designed to assist organizations automate enterprise spend administration, management their money circulation, and observe bills. 

With Divvy, companies can create budgets and observe spending throughout departments, particular person staff, and distributors. Divvy additionally offers instruments to assist companies automate bills and funds, monitor spending, and compile custom-made reviews.

Divvy additionally integrates with TravelPerk to offer organizations with a centralized portal the place they’ll simply e-book, handle, and report on journey bills and handle spending. 

Divvy noteworthy options

  • Approvers can set spending limits and service provider controls that are instantly tied to worker playing cards to stop overspending or spending out of coverage. 
  • Customers can customise Divvy to reflect their chart of accounts by integrating it with accounting software program. 
  • Divvy syncs mechanically with worker bank cards to offer real-time visibility into spend by division, workforce, mission, and particular person price range.
  • The device’s cellular receipt add and push notifications function allows fast worker reimbursements. 
  • Divvy’s Funds Providers function is a free vendor fee answer designed to streamline the accounts payables course of by dealing with fee processing and remittance. 

How clients price Divvy

G2 score: 4.5/5 (as of February 2023)

Capterra score: 4.7/5 (as of February 2023)

Divvy’s most rated options 

The next are Divvy’s most highly-rated options by actual customers on Capterra

  • Receipt administration: 4.8/5
  • Budgeting/Forecasting: 4.4/5

Divvy pricing 

Divvy’s spend administration platform and company card are 100% free to make use of. 

Languages supported by Divvy

Divvy solely helps the English language. 

4. Ramp 

Ramp is a cloud-based expense and spend administration platform that gives companies with instruments to handle and optimize their spending. It allows companies to trace and handle their spending in actual time, and offers entry to detailed monetary insights and analytics to assist them determine alternatives for price financial savings. 

The device additionally presents performance for automating accounting processes, managing multi-currency transactions, and monitoring provider efficiency. 

Ramp integrates with TravelPerk which allows organizations to offer staff with Ramp company playing cards embedded with company-wide journey coverage limits. Vacationers may entry real-time monitoring, spend alerts, and receipt integrations for an optimized worker expense course of. 

Ramp noteworthy options

  • Ramp digitizes approval insurance policies and spend tips, allows customers to pre-approve bills, and flags out-of-policy objects for computerized evaluate.
  • The platform facilitates quick receipt assortment through integrations with Gmail, Lyft, and Amazon Enterprise.
  • Ramp presents digital and bodily playing cards with limitless 1.5% money again on purchases. 
  • The device’s accounting automations assist companies handle vendor information, invoice fee particulars, and class monitoring. 
  • Ramp syncs common ledger class mappings and mechanically syncs occasions to NetSuite, Sage, QuickBooks, or Xero to take away a number of entries.

How clients price Ramp

G2 score: 4.7/5 (as of February 2023)

Capterra score: 4.9/5 (as of February 2023)

Ramp’s most rated options 

The next are Ramp’s most highly-rated options by actual customers on Capterra

  • Approval course of management: 5/5
  • Cellular receipt add: 5/5
  • Workflow administration: 5/5 
  • Reimbursement administration: 4.7/5 
  • Budgeting/forecasting: 4/5 

Ramp pricing 

Ramp’s spend administration platform and company card are 100% free to make use of. 

Languages supported by Ramp

Ramp solely helps the English language. 

5. Spendesk 

Spendesk is an all-in-one spend administration platform that gives a variety of options to assist firms handle their spending, save money and time, and acquire larger management and visibility over their funds.

In addition to automated expense monitoring, receipt scanning, and safe funds, Spendesk additionally presents digital and bodily company playing cards, procure-to-pay bill administration, and automatic accounting options akin to automated VAT extraction, expense account allocation, and receipt reconciliation.

Spendesk additionally integrates with TravelPerk to present finance groups the instruments for full visibility into general spending, together with journey bills. 

Spendesk noteworthy options

  • Budgets are built-in into companies’ spending processes for automated spend management. 
  • The Spendesk cellular app allows staff to immediately declare reimbursements for business-related bills with pictures of receipts. 
  • Spendesk presents bodily and digital playing cards with adjustable and pre-defined budgets. 
  • Accounts payable processes are optimized by linking buy orders and provider invoices to workforce approvals, budgets, funds, and accounting. 
  • Spendesk’s consolidated reporting function helps finance groups and managers tag transactions with price facilities, initiatives, and labels and acquire higher visibility into the procurement course of. 

How clients price Spendesk

G2 score: 4.7/5 (as of February 2023)

Capterra score: 4.8/5 (as of February 2023)

Spendesk’s most rated options 

The next are Spendesk’s most highly-rated options by actual customers on Capterra

  • Receipt administration: 4.5/5
  • Approval course of management: 4.5/5
  • Cellular receipt add: 4.4/5 
  • Reimbursement administration: 3/5

Spendesk pricing 

Spendesk prices a set subscription payment for entry to the platform and variable charges for transaction utilization (together with card purchases, bill funds, and expense claims) to make sure you solely pay for what you utilize.

There are three subscription packages to select from primarily based on what number of customers you want:

  • Starter: For as much as seven customers, together with one approver. This plan is aimed toward entrepreneurs and small to mid-sized companies seeking to handle day-to-day bills. 
  • Necessities: For limitless customers and approvers. This plan is designed for small to mid-sized companies that wish to management their spend administration course of in a single place. 
  • Scale: For limitless customers and approvers. This plan is for bigger companies that require extra management, flexibility, and automation of their enterprise spend administration processes. 

Languages supported by Spendesk

Spendesk is offered in English, French, Italian, and German.

6. Emburse 

Emburse is a spend administration platform that helps firms optimize all sorts of enterprise spend. The device presents single-use and recurring digital playing cards, auto-reconciliation of receipts, and built-in coverage controls to assist companies higher handle their money circulation. 

With the platform’s reporting device, finance groups may evaluate real-time spending in complete, by price range, spend class, workforce, or mission for enhanced spend evaluation. 

Emburse additionally integrates with TravelPerk to facilitate the automated sending of itineraries to enterprise vacationers’ Emburse bills pockets, making it simpler to submit journey bills for approval.

Emburse noteworthy options

  • Companies can create digital and bodily playing cards with particular spend administration guidelines. 
  • The device scans receipts and populates receipt information utilizing optical character recognition. 
  • Customers can create and submit expense kinds and managers can approve bills from each smartphone and desktop units. 
  • The platform automates accounts payable and buying workflows. 
  • Emburse’s dashboards present insights into spending information to assist finance managers optimize money circulation, determine uncommon developments, and set improved budgets. 

How clients price Emburse

G2 score: 4.5/5 (as of February 2023)

Capterra score: 4.7/5 (as of February 2023)

Emburse’s most rated options 

The next are Emburse’s most highly-rated options by actual customers on Capterra

  • Time and expense monitoring: 4.9/5
  • Cellular receipt add: 4.8/5
  • Receipt administration: 4.8/5
  • Approval course of management: 4.6/5
  • Reimbursement administration: 4.4/5

Emburse pricing 

Emburse presents three totally different pricing plans: 

  • Certify Now!: This plan is aimed toward small companies with 1-25 staff and prices $12 per consumer/month. 
  • Skilled: This plan is designed for companies with 25-200 staff and presents full-service implementation in below 30 days. As a substitute of a month-to-month subscription mannequin, customers are charged a month-to-month service payment on a customized quote foundation. 
  • Enterprise: For companies with over 200 staff, customers can count on annual mounted pricing on a customized quote foundation. 

Languages supported by Emburse

Emburse helps the next languages: Norwegian (Bokmal), Indonesian, Japanese, English, Ukrainian, Chinese language (Simplified), German, Dutch, Korean, Italian, Thai, French, Turkish, Portuguese, Czech, Chinese language (Conventional), Hungarian, Spanish, Finnish, Danish, Swedish, Russian, Arabic, and Polish. 

7. Mesh Funds 

Mesh Funds is a complete spend administration answer designed to present finance groups full management and visibility over firm spend whereas additionally automating workflows to attenuate handbook duties and increase effectivity.

The device presents limitless digital and bodily company playing cards, automated expense reviews, computerized categorization of enterprise bills, and cashback on firm bills.

Mesh Funds noteworthy options

  • Mesh Funds offers actionable information for each fee, together with cheaper alternate options and forecasting bills. 
  • Finance managers can set spend limits and vendor locks on funds, obtain real-time alerts, and set customized fields for all firm transactions.
  • The platform presents devoted journey playing cards to assist handle all journey bills in a single place. 
  • Customers can create custom-made reviews to entry optimized insights into money circulation, budgets, and forecasting. 
  • Notifications are despatched by textual content, electronic mail, and Slack anytime a enterprise is overcharged, makes duplicate funds, or pays for unused subscriptions. 

How clients price Mesh Funds

G2 score: 4.7/5 (as of February 2023)

Capterra score: 4.9/5 (as of February 2023)

Mesh Fee’s most rated options 

The next are Mesh Fee’s most highly-rated options by actual customers on Capterra

  • Cellular receipt add: 5/5
  • Reimbursement administration: 4.3/5

Mesh Fee pricing 

The Mesh Fee platform is 100% free to make use of, with no subscription or setup charges. 

Languages supported by Mesh Fee

Mesh Fee solely helps the English language. 

Conclusion: Which spend administration answer is greatest on your wants?

With so many spend administration methods on the SaaS (software program as a service) market to select from, deciding on the fitting one which fits your small business generally is a daunting job. 

Finally, your best option for your small business is determined by your distinctive mixture of enterprise wants, trade, and price range, in addition to the options and capabilities you require.

The most effective spend administration platforms additionally combine with different instruments in your stack to assist streamline and simplify enterprise processes. For instance, in case your staff journey often for enterprise, the spend administration device you select might want to combine flawlessly along with your journey administration answer. 

TravelPerk is a versatile, user-friendly journey administration answer that provides a seamless journey reserving and expense administration expertise — and it additionally integrates with a number of of the most effective spend administration instruments on this information.

Attain out at this time to seek out out how one can simplify your spend administration and journey administration processes with TravelPerk at this time!

Begin saving cash on enterprise journey on your firm at this time!

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