How To Find the Best Expense Management System
Choose the best expense management system to track business spending and to close your monthly accounting books faster.
Spend management software help optimise expense claim procedures for employees. We list down common Expensify alternatives in Singapore in this article.
The intuitive platform offers innovative improvements to a company’s workflow. Key features include GPS mileage capture and automated reimbursements.
That said, you may still feel like Expensify does not provide exactly what you are looking for. You may want a solution that provides access to corporate cards or affordable international transfers.
Luckily, there are several Expensify alternatives available on the market today. A wide range of expense management solutions can help you streamline your accounts payable (AP) processes and other transactions.
Read on to discover the automation platform that can address your expense management needs.
Emburse Certify Expense is an expense management solution that aims to help businesses manage their AP functions online. According to their website, their list of goals include:
Eliminate tedious and repetitive manual tasks that can take a long time to complete
The platform promises to provide seamless integration, easy online transactions, and real-time spend insight.
Reviews for the solution show that adding new users to the platform is easy. It has diverse administrative tools that allow growing companies to easily add and manage users in the system.
Emburse Certify Expense also supports uploading receipt information through a phone camera, saving a lot of time.
However, users found that this feature is not always 100 percent reliable. Reviews show that auto-generated texts from the receipts are sometimes incorrect.
Some subscribers also struggled with the platform’s user interface. Users noted the lack of a “save” feature and complicated approval mapping.
That said, the platform’s well-designed app for mobile devices and automated expense reports make it an excellent alternative to Expensify. The price for Emburse Certify Expense starts at $8 per user monthly.
Zoho Expense is an online travel and expense management platform that aims to help businesses streamline corporate travel and automate expense reporting. The software also gives users more control over spending and important financial insights.
The platform offers travel and expense management reports to help businesses make more informed financial decisions.
According to customer reviews, Zoho Expense is an affordable solution for tracking your business expenses. Several users also found that the expense management platform is easy to set up.
But, some users also reported bugs to the system when integrating with other software, specifically QuickBooks. Moreover, the system does not support splitting expenses between departments and funds.
Nevertheless, Zoho Expense can still be an excellent alternative to Expensify. Unlike the latter, Zoho does not charge additional fees for different cards. You only need to pay for active users in the system.
It also has different editions to support country-specific compliance. Users can choose from US, India, Australia, UK, Canada, Saudi Arabia, and UAE editions.
The solution is also completely customisable. It allows users to change any element of the application to address various business needs.
The price for Zoho Expense starts at $8.50 per month.
Teampay is a spend management software. Developers designed the software to help modern, technology-enabled businesses.
The goal is to give finance and accounting teams control and visibility while also empowering employees.
According to their website, Teampay can enforce payment policies through the automatic routing of purchase requests.
It can also eliminate manual tasks. Employees only need to code purchases upfront, and Teampay can send automatic receipt upload notifications.
Teampay also provides users with real-time actionable insights to help their business. The platform allows users to view purchases in a general ledger as transactions happen.
According to reviews, Teampay supports seamless integration into other platforms. Users also commend the brand’s customer service.
The customisable feature of the platform also allowed users to assign a card for a specific vendor and a specific amount.
But, some users reported that Teampay’s overreliance on other platforms, like Slack, can be cumbersome. Minor deviations from approved payment also result in the charge getting rejected, hindering the whole process.
Despite these disadvantages, Teampay remains to be an excellent Expensify alternative. Employees can breeze through the buying process without any effort with its conversational user interface.
Pricing details for Teampay are available after requesting a demo from the company’s website.
Emburse Abacus is an expense solution that provides real-time tracking and reporting. It aims to provide faster and more efficient expense tracking for businesses, regardless of the company size.
It captures accurate expense data and allows users to view corporate card spending as it happens. The latter feature can help prevent fraud and reconcile payments throughout a given timeframe.
Emburse Abacus creates approval routes that streamline expense processing and expense approval. Additionally, it has a reporting feature that allows managers to approve or reject expenses immediately after submission.
If your business has complex organisational structures, this expense solution can also help you and your finance team.
It has real-time expense tracking and reporting feature that allows users to submit and approve expenses in real-time. This feature can speed up accounting processes to reflect current period expenses without post-activity expense reports.
These are only some of the advantages of using Emburse Abacus. That said, reviews show that the solution also comes with certain limitations.
Emburse Abacus is not ideal for small businesses with less than ten members because most of its features are for medium- and large-scale companies.
It also does not function as a complete bookkeeping system so users may not use Emburse Abacus to complete certain bookkeeping tasks.
However, Emburse Abacus supports integration with various bookkeeping software, including QuickBooks Online, Xero, and Sage. This and its real-time expense reporting and approval feature make it an excellent substitute for Expensify.
The price for Emburse Abacus starts at $9 per month.
TripActions is a corporate travel and expense solution that helps organisations manage itineraries, travel booking, corporate payments, and expenses.
The solution uses artificial intelligence (AI) technologies to provide proactive and tailored service.
TripActions has a real-time spend management dashboard. The dashboard offers real-time reporting and expense visibility to users.
The platform has virtual credit card features for travel booking and physical cards for in-person transactions.
Reviews for TripActions show that the solution is a solid travel management tool. Users reported that it is easy to use and immediately reimburses users for their expenses.
But, some users noted that it was cumbersome that they had to download another app (TripActions Liquid) to use the expense management feature of the solution.
The platform also does not allow users to add anything to the trip after their manager has already approved it. If you need to rent a car after your flight but did not include it in the original booking, you must book a new trip.
That said, TripActions can still be an excellent alternative to Expensify. If your business requires your employees to travel a lot, this can be an innovative solution for your startup or company.
TripActions streamlines the business travel experience for all kinds of travellers, program administrators, and business leaders.
Pricing details are available after you schedule a demo on the TripActions website.
Introduced in 2016; Fyle is an expense management software that can help track receipts and send expense reports.
Fyle supports the upload of receipts from everyday apps, including Gmail, Slack, Outlook, and WhatsApp. It uses Optical Character Recognition (OCR) technology to automatically extract data from receipts, including merchant, amount of payment, and date.
The platform also automatically checks against fraud in line with your organization’s compliance functions.
Fyle also tracks non-billables to allow users to submit non-reimbursable expenses. It also creates and submits expense reports at the end of each month.
According to user reviews, Fyle’s integration functions make logging expenses faster and easier. The solution also offers user-friendly reporting options that help users file receipts faster when on the road.
But, it is important to note that users encountered glitches when the solution reported expense policy errors. Some users also recommended more refinement for certain categories.
Despite these cons, Fyle is still an excellent substitute for Expensify. Fyle gives users an innovative way to capture relevant employee expense data.
It also allows users to customize forms to include projects, cost centers, and departments. The customization feature allows users to address their expense needs more conveniently.
The price for the expense management software begins at $4.99 per user monthly.
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Rydoo is a solution that combines the capabilities of an expense tracker and a travel service. The platform automates expense approvals while allowing users to set their spending limits.
With Rydoo, you discover if your business is overspending and where you can reduce expenses. It can also help identify partnership opportunities you can exploit.
Rydoo gives users insights by delivering relevant data to help users steer their companies in the right direction.
It supports integration with other enterprise resource planning (ERP) tools and other systems, including Slack, Quickbooks, Netsuite, and Oracle.
Adding Rydoo to your business is also an easy task. You only need to add your company information and users. You can also create categories relevant to your business.
Rydoo allows users to divide their employees into groups and assign specific roles to each group.
Customer reviews show that Rydoo can forecast expenses with minimal error. It is also easy to use and set up.
Some users also noted that the platform enables easy upload of receipts. Rydoo also allows users to manage them in bulk or one by one.
But, some customers reported that they struggled with creating reports in Rydoo’s finance mode. The reports do not retain certain filters when users export them. The program also runs slow when users multitask.
That said, Rydoo’s user-friendly interface and useful expense forecasts make it an excellent Expensify alternative.
The price for Rydoo starts at $7 per user per month.
Pleo is a business spending tracker that aims to help users track and pay expenses, invoices, and more.
It is simple to set up, can automate paperwork, and provides instant spending notifications. Pleo also provides users with more flexibility and control, allowing them to activate or freeze cards with only one tap.
Pleo also has a Pocket app, which calculates out-of-pocket expenses, mileage, and cash spending. The package calculates the distance and fuel cost of business trips.
It offers fast and compliant reimbursements to users. With Pleo, you can see what is owed to everybody.
Reviews show that users find Pleo useful for expense tracking. The solution enables managers to have real-time visibility into all expenses within the business.
Some users, however, reported a poor repayment management system. Other cons include sluggish procurement and a non-intuitive user experience.
But, Pleo is still an excellent Expensify alternative if you are looking for an app that can help you track your business expenses.
Pleo is free, but it has a paid version starting at $13.5 per user per month.
Webexpenses is an expense management solution that automates submitting, approving, and reporting expenses. With the intuitive digital platform, businesses can automate the management of business expenses.
The cloud-based expense software comes with a range of different features. These include:
According to reviews, Webexpenses is very easy to use and is cost-effective. It was also easy to set up.
That said, support services are the only ones who can reload failed transfers on the platform. This issue can be a hassle to employees and can prolong transactions.
Users also reported that data export could be a pain when using Webexpenses. Mileage tracking can also be inaccurate at times.
Despite these disadvantages, Webexpenses is still an innovative alternative to Expensify. The platform’s ability to integrate into a wide range of accounting software can make it useful for businesses of all sizes.
There is a value calculator on the Webexpenses website to help determine how much you need to pay for the cloud-based expense software.
DATABASICS Time and Expense is an automation solution that aims to address demanding time and expense management challenges. Developers designed the Software as a Service (SaaS) to help mid-to large-size businesses with distributed workforces worldwide.
According to their website, DATABASICS Time and Expense offers a central system for submitting expenses, managing attendance, monitoring projects, and maintaining compliance.
DATABASICS can help employers monitor employee activities. The solution can also notify users of missing receipts, incomplete timesheets, unapplied credit charges, and other crucial errors.
Reviews show that DATABASICS is flexible. It allowed users to configure complex accounting structures. It also enabled them to add diverse geography into the software without customizations.
Users also reported that DATABASICS has an effective customer support team.
But, some users noted that the platform’s reporting tool, Jaspersoft, is not up to the standard of the rest of the application. According to the users, the reporting system can be clunky. Other users also have trouble accessing the reporting tool.
That said, DATABASICS Time and Expense can still be an excellent substitute for Expensify. With the platform’s flexible features, users have the power to configure the system over time.
The price for DATABASICS starts at $800 per month. Pricing can be based on the volume of users or transactions.
Tips on Choosing Business Accounting Software | |
Consider your needs and skills. | You need to understand how your business operates and your skills to know what type of software is the best for your organization. |
Look at cloud-based applications. | You should not dismiss cloud-based accounting applications available in the market today. You can access these apps from anywhere, as long as you have a steady internet connection. |
Stay within your budget. | There are several software packages available to suit all budgets. You can opt for general applications for a broader user base. You can download these for free or buy them for a more affordable price. |
If you are not a fan of Expensify, several alternative platforms to the Expensify app are available in the market today.
Spenmo is a cloud payment software platform that offers affordable international transfers and seamless expense claims. It also automates local transfers, which can help reduce the time it takes to process payment transactions. When you use Spenmo, you can take advantage of the following features:
✅ Free expense management tool for employee expense claims
✅ Unlimited Physical and Virtual Corporate Cards that your team can use across 200+ countries
✅ 0% FX markup for international payments
✅ Access to multi-currency dashboards
✅ Automated bulk bill payments and approval workflows
✅ Automated reconciliation to accounting software
✅ All-in-one payments platform – all your account payables in an integrated view
Sign-up to Spenmo for FREE today!
Expensify has a free version that provides Expensify Cards for all users. The free version also has features that send invoices, reimburse users for cash expenses, and pay bills.
Expensify has features that offer innovative improvements to the approval workflow. It also supports automated reimbursements and has a GPS mileage capture feature
Choose the best expense management system to track business spending and to close your monthly accounting books faster.
Expense management system helps businesses automate the recording, tracking, approval and payment with the use of an expense report software.
Tracking expenses can help companies come up with error-free expense reports. Check this guide on reimbursable expense accounting now!
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