AI-Powered Travel and Expense Management Solution for Businesses of all Sizes
Automate employee expense reporting, streamline approvals and eliminate paper trails with expense software. The cloud-based expense reporting solution powered with Artificial Intelligence (AI) makes expense reporting a breeze by quickly identifying policy violations and data errors. OCR technology can easily capture data from receipts accurately and auto-populates on the fields eliminating data entry.
Integrated travel booking solution allows you to create travel requests right from an expense solution. You can directly convert travel requests into expense reports in just a few clicks. Define travel policies and out-of-policy constraints for every travel request, and the solution will enforce policies automatically without human intervention.
From reporting to approvals and reconciliation to reimbursements, every process can be automated. Manual expense reporting costs will be significantly reduced by automating approval and other processes. Budget controls, spending rules, and analytics can help enforce expense reporting policies and enables you to analyze employee spending.
The approval process is flexible and can be configured at multi-level. Reports and analytics give you complete visibility into overall expenses and help you analyze spending patterns, control costs and identify cost-saving opportunities. Customization ensures organizations can deploy expense software quickly without changing existing processes. Integration with various applications allows fit into existing ecosystems seamlessly.
With automated data capture, streamlined reporting process, and faster reconciliation, the expense reporting process has become a breeze for every stakeholder.
Does my Company Need Expense-tracking Software?
There are hundreds of reasons for automating your expense reporting process. Expense software offers many benefits, including streamlining the process, optimizing budgets, tracking cash flows, and complying with tax regulations. Listed below are just a few benefits of automating the expense reporting process:
Automation eliminates paper and reduces data errors, saving time and money that could otherwise spend on rectifying errors.
Direct payment methods such as ACH wire transfer ensure quick reimbursement, improving employee satisfaction.
Automatic alerts ensure your reports are quickly approved without any possible delays. Delegate approval allows another person to approve reports in your absence.
Reports & Analytics
Detailed analytics provides real-time insights into employee spending by project or category.
Improved Process Efficiency
Automation improves process efficiency, and lets employees spend more time on strategic activities.
Metrics help you analyze spending patterns and enable you to identify cost-saving opportunities.
Automated policy enforcement ensures compliance and helps create an audit trail for tax purposes.
What to Look for Choosing a Business Expense Report Software?
Once you’ve decided to deploy the expense report software, it’s time to choose the best expense report software provider. You have to look for the following criteria when selecting the expense report software:
Make sure the solution you choose should have customizable workflows for approvals, reimbursements, and other processes.
Check whether the solution can integrate with other ERP solutions. Integration with external applications is crucial for seamless data flow.
Employee satisfaction is critical; after all, they are the ones who use the application on a day-to-day basis. If the solution is clunky or difficult to use, there may be better choices for users to adapt to.
Understand the support model of your service provider. Choose a provider who can support you along your journey; evaluate the service level, including response time, troubleshooting time, training materials, learning methods, and client testimonials.
Ask your provider how they store and protect your sensitive information. Check if they allow us to set access controls for different levels and if the solution complies with all relevant guidelines and legislation.
It is always better to opt for a flexible subscription rather than a recurring payment. Choose a service provider who charges you the amount based on the number of users.
While choosing a provider may look daunting, doing extra work can help select the best software in the long run. Our checklist can help evaluate service providers and enables you to choose the right solution for your business.
Key Expense Reporting Software Vendors:
- Founded: 2009
- Prime Location: United States, India
- Pricing: $6/user/month
SutiExpense is the leading travel and expense report software designed to automate employee expense reporting processes. Features such as a chatbot, multi-level approval workflows, reconciliation, and business rules engine make expense software an ideal fit for businesses. Integrating data analytics can help you see what employees are spending and identify blind spots. SutiExpense eliminates all the guesswork, accelerates expense reporting, and helps businesses run smoothly every day.
Create expense reports, add line items and approve expense reports using the voice-based assistant.
Receipt data will be scanned using OCR and populated automatically on the fields without manual data entry.
Integrated travel booking solution allows employees to book flights, hotels and car rentals easily and the trip data can be used for expense reporting.
SutiExpense features pre-trip authorization that allows employees create and send expense request for approval prior taking the trip and this expense request can be converted to expense report in just a click.
Analyze receipts, card transactions, and bookings to identify compliance and duplicate expenses with artificial intelligence quickly.
Approve Expense Reports Using eSignatures
Reports can be approved in seconds through multiple electronic signature options, including Touchpad, Static and Dynamic Signature, enabling you to sign from any device, anytime.
Budget controls let you set project budgets, expense categories, and roles. Charts and analytics give you clear visibility into the budget spent vs. the budget remaining.
Know how much time and money you can save on expense reporting and reimbursements with the SutiExpense ROI calculator.
What Customers Say About SutiExpense
“So easy to use-makes expense report quick and easy. We now have a one-stop shop for our employees. they can submit their Pcard transactions AND their cash expense reports in this one program. We have gotten some great feedback from the employees as well on how easy it is to use.”
Wendi L. Events Services
“Very, very pleased with the easy way to use this software. Makes reporting so much faster. This has been such a great time saver for me because of not having to fill out paper forms, scanning them, and then send vouchers via email. I can do all my reporting over my phone and submit them as well.”
William S. Religious Institutions
2. Concur – Travel Expense Report Software
- Founded: 1993
- Prime location: Bellevue, Washington, United States
- Pricing: $9/report – average price
About SAP Concur
Concur is an integrated expense and travel management solution that helps businesses manage travel expenses. You can capture spending from multiple sources and reimburse payments quickly. The finance department can monitor and manage cash flows with clear insight and visibility.
- Create, edit, report and approve expenses quickly anywhere, anytime using mobile devices. The intuitive mobile app allows you to perform the required action in the comfort of your home.
- Capture receipts using mobile devices and match receipts to transaction charges to reimburse faster.
Travel Booking Data
- Integrated travel booking solution gives you complete visibility into travel data that enables you to check for compliance, capture booking information, and monitor itinerary changes.
- Integration with third-party solutions facilitates data transfer between multiple applications, so you don’t have to enter data manually into systems.
- Comprehensive spend analytics allows you to improve budgeting, forecasting, and compliance across enterprise spending.
What Customers Say About Concur
“Best for employee expense. Easy to master and very easy to see and check the expenses of employees, especially if you do this in the AP department.”
Burak C. Consumer Goods
“Excellent product. I have used several expense reporting tools and SAP Concur is by far the most intuitive and user-friendly.”
Lisa T. Real Estate
3. Certify – Travel Expense Reporting Software
- Founded: 2008
- Prime Location: Portland, Maine, United States
- Pricing: $12/user/month
Certify’s expense report solution makes expense reporting, approvals, and reimbursements effortless for employees, managers, and accountants. The solution offers a wide range of integrations, travel booking, audit capabilities, and much more to make expense reporting a breeze.
Certify allows you to capture the miles employees have traveled while on a business trip and auto-populate it as an expense in the report without having employees enter the mileage details.
Issue credit cards with customized budgets, policies, and more to gain complete control of expenses from spending through reconciliation.
Track pre-approved spending requests so you can have complete control of cash flow and liabilities, thus eliminating out-of-pocket expenses.
Intuitive dashboards give actionable insights into expense data allowing you to understand and optimize spending while providing complete visibility into organizational expenses.
Audit trails help us get oversight into every submitted expense to identify potential fraud and prevent you from overage spending.
What Customers Say About Certify
“Very effective expense management tool. I use Certify when traveling for work and also to get office expenses like internet and phone reimbursed.”
Bobby S. Client Success Manager
“The Certify software is very easy and understandable to use. All my expense reports are very well organized and I can keep track of them for later use. The process to submit an expense is easy and also possible to use through mobile app.”
Marco P. Solutions Development Engineer
4. Coupa – Expense Report Software
- Founded: 2006
- Prime Location: San Mateo, California, United States
- Pricing: NA
Concur helps manage T & E spending with advanced capabilities such as automated expense reporting, budget controls, expense categorization, pre-trip approvals, and more. The intuitive user interface enables employees and employers to manage and report expenses easily.
Automate Expense Reporting
Automate your expense reporting process to its fullest with OCR data capture and automatic imports and exports. Integrations with external applications enable you to transfer data seamlessly, eliminating data entry.
Travel and expense metrics can help you measure spending and identify saving opportunities, so you can gain control over T & E spending before it happens.
Accelerate the reimbursement process by integrating the payment processes with employee bank accounts and processing reimbursements in a few clicks.
“Intelligent audits can help prevent fraud and control travel-expense spending. Policy controls can check expenses against taxes, per diems, and other compliance requirements.”
What Customers Say About Coupa
“Overall, the product is fantastic with a few quirks that are being addressed”
David H. Director, Financial Systems
“I like the ability for our employees to be able to submit reimbursements both through the app ad online. I also really like the ability to pay our employees via ACH, but not have to directly deal with their banking information. Coupa has increased our efficiency with our reimbursement process exponentially.”
Kendra R. Controller
5. Expensify – Pre-accounting & Expense Management Software
- Founded: 2008
- Prime Location: Portland, Oregon, United States
- Pricing: $10/user/month
Manage expenses, make bookings, map card transactions to expenses and track mileage with the Expensify expense report solution. AI and machine learning make expense reporting and reconciliation easier than ever before.
Integrated travel solution remembers your preferred airlines, hotels, and other travel preferences, so you will never go for out-of-policy bookings.
Expense reporting tools give complete visibility into costs and let you see where employees travel anytime.
Credit Card Imports
Add credit cards to expense solution to match receipt transactions against bank statements. You can review expenses that are not submitted and manage corporate spending right from the dashboard.
Expensify integrates with external applications saving hours of data entry, and once you decide how expenses should recur, data syncs automatically in real time.
Expensify supports multi-currency and taxes and is fully GDPR compliant while giving complete access to the information you need.
What Customers Say About Expensify
“Overall, it has been very pleasant. The staff reply to email questions quickly and work hard when there are errors.”
Jeff S. Religious Institutions
“Super handy to track expenses for business and personal.”
Haley M. Hospital & Health Care
Note- The above information has been provided based on the data available on the vendor website and secondary web platforms.