Expense management software

Great expense management systems remove the need for paper expense reports altogether. Instead, employees can claim a reimbursement with a few taps of their mobile device.

Eliminating paper makes the expense management process faster and less prone to error, since there's no manual data entry involved.

Most importantly, it gives complete visibility to budget managers and finance teams throughout their teams' travel and other expenses. You know immediately once a claim is created - and why - without needing to wait until the end of the month to process it.

Yes. Expense tracking apps let employees submit a photo of their paper receipt on the spot, before it can get lost or damaged. And when receipts are not submitted, finance teams can block employees from using company funds until they've rectified the situation.

In Spendesk, this feature is called Play by the Rules, and users report receiving 98% of employee expense receipts on time. Plus, OCR technology ensures that every receipt is legitimate.

Spend management software lets you incorporate your customizable company expense policy within the platform. You can clearly show employees which costs are permitted or not, and the tool will even prevent them from submitting claims that go against policy.

The functionality is also designed to be user-friendly and guide employees through creating claims, unlike long and technical policy documents.

Every expense claim submitted by an employee goes first to their manager for approval. These workflows happen instantly through the app, and managers can also choose to be notified by Slack or email.

Before the claim goes to the finance team, the manager first has to review and approve it. They'll have all the information they need to make this decision - the who, what, where, when, why, and how. Which makes expense approvals fast and efficient for everyone involved.

One of the biggest benefits of expense report management platforms is their impact on expense reconciliation and bookkeeping. Spendesk users save on average 4 days per month thanks to easier bookkeeping.

You'll have 98% of expense receipts submitted on time, automated account reconciliation, and no more maverick payments. All you have to do is validate payments, and export to your accounting software or enterprise resource planning tool.

Both corporate credit cards and expense reports were designed as workarounds. Credit cards are hard to track and prone to fraud, and expense reports are slow and require lots of admin.

Expense management platforms make tracking payments easily, remove most of the admin work, and virtually eliminate fraud. Instant corporate card and expense tracking is far more reliable and more efficient than these outdated systems.

Any employee expense can be repaid via an expense management software. So if an employee makes a payment with their own credit card, the company can reimburse them quickly and safely.

But Spendesk also offers single-use and recurring virtual cards for online expenses. These are more secure than using the company credit card online, and every employee can easily have access. These work alongside digital expense reports, so teams only need to learn one user-friendly system.

Businesses of all sizes benefit from better expense management. Depending on their business needs, it contributes to everything from travel management, to monitoring cash flow, to budgeting.

Small businesses (SMBs) love the efficiency and the ability for their teams to move quickly. Larger, more established businesses enjoy the extra visibility over spending, and the amount of time saved on processing paper receipts.