Top 10 Expense Management Software: Ratings and Reviews

Expense management software refers to those programs that are designed to submit, reimburse and track the employee's’ expenses. It embraces the aptitudes for companies employees like adding their expense information through web browser or mobile application. The admin executives can easily get the expenses report and approve them on the same application. The tasks associated with expenses can be managed easily if you get one program. But, the confusion starts with the number of available programs. For this, Virtuous Reviews offers an insight.

By taking help of our impartial listing, the users can easily decide which product will be beneficial for their business. Besides this, we serve as a FREE platform to share your reviews, opinions or experiences. Our reviews and ratings completely depend on expert suggestions, consumer feedback, and in-depth examination so that the user choose the right option. While offering quality information on expense management software, the user will successfully accomplish the expenses jobs.

How to choose the best expense management software?

There are a few key things you’ll want to look for, and if you’ll keep a few basic points in mind you should be able to find the program that helps your company thrive. Here are a few tips to remember.

• Start by looking into the fundamentals of a program. Things like online connectivity, variable user access controls, and good approval workflow are the keys to a good program.
• What kind of key features help it stand out? Today’s best expense management software options will have features that really make a difference in how your company manages their expenses – things like receipt imaging, credit card account integration, and mobile access are all important to have in a program, and will make a big difference in how yours works for you.
• Will it generate data reports? If not, you’ll want to keep looking. Data reports provide you with so much information that it’s hard to explain here. The info will cover every aspect of your company’s performance and as a result will help you adjust your policies and plan out strategies that will make a big difference in your bottom line.
• How easy is the system to use? A good program will provide a ton of great features and performance while also offering simple to use performance. This makes a big difference.
• Cost matters, too. Great online programs don’t always have to cost a fortune. In fact, the best expense management software can be downloaded and used for free. Instead of paying a large purchase price, you pay a small monthly fee and use the system as much as you want. This can save you big money over time.

Features:-

• Mobile Access - Allows your team to access through their mobile devices means that they’re better able to stay connected, adds extra features, and also makes it easier for your team to track expenses.
• Receipt Imaging - This is the natural evolution of mobile access. It lets your employees photograph their receipts with their mobile device and then upload them right into the system. That means that there is far less of a hassle keeping track of receipts and paperwork while on the road.
• Data Reports - Used properly, data reports can give you some very clear insights into your company and how its employees are spending. This allows you to change strategies, adjust policies, and even identify fraud.
• Multiple Permissions - Each employee will be able to access what they’re supposed to, and nothing more.
• Credit Card Integration - Able to integrate the company credit card or credit account right into the system means that the entire process is streamlined dramatically. It cuts down on potential errors and adds extra simplicity to your workload.

Benefits:-

• Enforcement assistance. Software can be programmed to flag and even deny items that are not valid business expenses. Limits can also be set for expenses such as lunches and lodging.
• Across the board efficiencies. Employees can use software to upload expenses and associated receipts at their convenience and the report automatically undergoes an evaluation process customized to your business.
• Corporate credit card monitoring and analysis. Systems are designed to complement corporate credit cards, allowing managers to view activity in real time and better manage risks.
• Better information. Offers a plethora of options for monitoring spending. Want to know how much is spent with a specific vendor? Or track expenses by department or individual
• Currency conversion. International travel and the accompanying currency issues can tax the most competent of accountants. Software easily converts and calculates exchange rates for accurate reports.