12 Best Expense Management Tools in 2021

Expense Management tools help you automate your expenses such that the management of them gets easy and effective. It is one of the most important aspects of running a business and these tools help you achieve it efficiently. They also enable you to track your expenses and generate reports. Analyzo has listed the leading Expense Management tools for you to choose from based on your organization's requirements. Click on Quick View to see plan features or compare plans across companies.

Best Expense Management

Price : On Request

Automate your travel, expense and invoice management with Concur. The seamless flow of data brings a new level of control over and visibility into business expenses. Integrated company expense policies and custom auditing software improve compliance and visibility.
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Price : Free - $9/user/month (billed yearly)

Let Expensify’s intelligent automation handle your expenses in realtime. By automating tedious expense reporting tasks, Expensify cuts out the noise and pinpoints the exact next steps that keep you moving forward. Expense reports are finished with one tap.
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Price : $15/month - $69/month

Shoeboxed is the fast, painless way to digitize and archive receipts in a single, secure location. It turns receipts into extracted, human-verified data that is categorized, organized, fully searchable and available anytime, anywhere.
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Coupa Expense
Price : On Request

Coupa Expenses solves management issues by providing a globally viable expense solution with the capabilities needed to provide spend visibility, ensure global compliance, and delight employees.
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Price : $8/user/month - On Request

Certify is an ideal expense report and expense management solution. As employees snap receipts and submit mobile expense reports, your accounting team will enjoy a streamlined process with powerful compliance and reporting tools.

Zoho Expense
Price : Free - $15/month

Zoho Expense helps in taking the effort out of expense reporting. From submission to reimbursement, everything is quick and easy. No need to save those paper receipts anymore. Recording an expense is as simple as taking a photo of the receipts.
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Price : $9/user/month - On Request

Abacus is the easiest way for you to reimburse your team, reconcile corporate credit cards, and implement your expense policy. Abacus manages each business expense as an independent transaction in order to empower finance teams with real time data to monitor cash flow and create dynamic reports.

Nexonia Expenses
Price : On Request

Stay focused on the work that keeps your business running with Nexonia Expenses’ flexible approval workflows, unbeatable integrations, intuitive mobile app and full training and support.

TriNet Expense
Price : $8/user/month - On Request

Online expense management solution for individuals and companies of all sizes. Capture receipt images on the go. Add expenses and edit imported credit card data. Create, submit, and approve expense reports.
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Price : Free - $5.50/user/month

Track different types of expenses online and eliminate filing cabinets full of paper receipts and printed reports with Timesheets.com. It's easy to keep billing and payroll up to date because entering expenses online is so efficient. No more waiting until month-end to turn in expenses!

Price : From $12/month

Employee expense reporting is one of the most common frustrations for both managers and employees. Managers want the correct details and format to account for the expenses properly and employees want swift reimbursement. Satisfy everyone using ClickTime's simple Expense Module.

Price : From €7/user/month (billed yearly)

Boost productivity by automating and streamlining your business expenses. Rydoo's easy to use mobile and web app transforms the outdated expense reporting process. Rydoo saves you time in every step of the process. Avoid manual input, avoid making mistakes, and move to paperless expense management.

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FAQ's for Expense Management

How does an online spend tracker help my business?

You strive to make profit in your organization, yet what do you do to monitor everything? Most entrepreneurs don't give considerable attention to their money. Mostly, it's only an idea in retrospect behind the various day to day operational issues. For others, it's a puzzling black hole where they trust the money will be when they really require it! 
It is important for each entrepreneur to have a wat to track all their expenses so that they can be claimed as otherwise they will not be able to claim the benefits from a taxation point of view. Online expense tracking tools help entrepreneurs to capture and track expenses that they make for their business.

Can I track money spent daily?

ompanies often give employees daily budgets when they are travelling. And thus users of expense management tools might want to keep track of their daily expenses to ensure that they do not exceed their allocated budget. Most of the tools listed above, do have a way where you can keep track of daily, weekly, monthly and yearly expenses. This helps users make sure that they are spending money in light with the budget allocated by their company.

Which is the best expense tracker app for Android?

Most employees specially in sales need to  ensure that they keep track of their expenses as if this is not done properly, it might result in them footing a bill that their company was meant to pay. To make things easier, many expense management tools have a mobile app (for both Android and iOS) which enables user to take a picture of a bill/expense at the time they pay for the product/service. This makes it easy for all the bills to be logged and users no longer need to keep a physical copy of the bill. Analyzo has listed the best expense management tools – you can view the features of each product to see if they support mobile applications.

Is an online expense manager safe to use?

Online expense management software store your bills and expenses in the cloud. Most of the expense management solutions use advanced encryption to ensure that you data is safe. Since this information is stored in the cloud, you do not need to worry about your device – Mobile or PC getting hacked, as this information will remain in the cloud and will be secure. Once  you select an expense management software you should review their security policy.

What are the benefits of using expense management software?

Usually managed through manual, paper-based procedures, the administration of travel and entertainment costs is a complex corporate technique that includes both government controls and employees' personal time and cash. Despite of these worries, there is an absence of control in guaranteeing that these costs are agreeable with corporate strategies and additionally a general powerlessness to gather adequate information identifying with these costs while keeping organization costs low. 
Expense Management Software, offer various advantages to entrepreneurs: 

Authorization help: Software can be modified to flag and even deny things that are not substantial operational expense. Points of confinement can likewise be set for costs, for example, snacks and hotel. Though it an employee might be able to charge a massage to his hotel room, expense management software can guarantee that your business isn't getting the tab. 

Across the board efficiencies: Workers can utilize software to transfer costs and related receipts whenever it might suit them and the report naturally undergoes an assessment procedure altered to your business. Directors and back divisions can analyze reports made from entered information. Software often works well with existing finance and bookkeeping frameworks for simplicity of reconciliation and payment. 

Corporate credit card monitoring and analysis: Expense Management Software are designed to work with corporate credit cards, enabling managers to see activity progressively and better oversee risks. Depending upon the framework, it might be conceivable to accommodate costs and make permanent, Internal Revenue Service agreeable computerized records with the click of a button. 

Better information: Expense Management Software offer plenty of alternatives for observing spending. Need to know what amount is going through with a particular seller? Or on the other hand track costs by division or person? Automated frameworks enable clients to effectively create reports that can pinpoint mistakes or potential misuse. 

Money change: Global travel and the accompanying currency issues can stress the most skillful of bookkeepers. Software effortlessly converts and ascertains trade rates for exact reports.
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