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Spend Management Software

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Center Expense logo

One place to manage cards, travel and all employee expenses.

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Get real-time visibility into spending and manage corporate cards, corporate travel, and all employee expenses in one place. Used and loved by spenders and finance teams, our usage-based business model means no upfront or recurring investment and is paired with dedicated deployment and support.

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TravelBank logo

Leading all-in-one expense and travel management platform

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TravelBank is the leading all-in-one expense and travel management platform, powering the solution for more than 20,000 companies.

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Tipalti logo

Finance automation that cuts 80% of your manual finance work

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Streamline purchasing with Tipalti's spend management software.

Streamline purchasing with Tipalti's spend management software. Full accounts payable, procurement, outbound payments and employee expense automation gives you full visibility of all business spend from a single system. While extensive

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Order.co logo

From chaos to clarity, in order.

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Order simplifies buying for businesses. Eliminate manual purchasing & payment tasks to create one place to purchase, approve, and pay for the products your business needs.

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Tradogram logo

Control Spend & Lower Costs

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Gain 100% visibility into your business spending.

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Teampay logo

Request, approve, and track company spending in real-time.

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Teampay’s spend management platform gives finance teams control and automates the purchasing, reconciliation, and reporting process.

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Fraxion logo

Procure-to-pay software for proactive spend management

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Complete spend management for purchasing and approvals, procurement, expense management and spend analysis.

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SAP Concur logo

Travel, expense and invoice—automated and in control

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SAP Concur solutions simplify expense, travel, and invoice management for greater visibility and control.

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ProcurementExpress.com logo

Take the Hassle out of Company Purchasing.

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Are you worried about employees spending company money without full transparency? Turn your worries into peace of mind, with full control over every cent spent in your company. Simple and effective purchase order management for the entire team.

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Spendflo logo

SaaS procurement platform

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Spendflo offers the buying, negotiation, renewal, and tracking service for SaaS subscriptions. It enables companies to focus on creating value for their customers.

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Mitratech Managed Bill Review logo

Spend management software for legal departments

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Quovant is a spend management software service built specifically for legal departments. Built by attorneys for attorneys, Quovant uses deep expertise in law firm management to deliver cost savings, time savings, and value-added services that drive business performance.

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Agicap logo

Manage your cashflow with ease

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Agicap is a software solution for running the cash flow side of your business, offering reliable forecasting and real-time analysis.

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Precoro logo

All-In-One Procurement Software For SMBs and Enterprises

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Easily manage all of your business expenses in a matter of seconds. Automated spend management, streamlined approvals, smart budgeting and expense tracking, automated PR and PO processing — all in one cloud-based app.

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Procurify logo

One easy-to-use platform for control over all business spend

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Procurify’s easy-to-use Intelligent Spend Management platform provides hundreds of organizations worldwide with real-time visibility and control over all business spend.

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TeamConnect logo

Enterprise legal management software

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The #1 most widely-used and sophisticated matter management and eBilling software, delivered to the most complex legal teams around the world. TeamConnect is the proven end-to-end ELM platform for Legal Operations to deliver more efficient legal services to the rest of the organization, combining ma

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Airbase logo

Airbase: Making the complexities of procure-pay-close easy.

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Airbase: Enterprise-level power everyone loves to use. Choose one or all of our Guided Procurement, AP Automation, Expense Management, and Corporate Card modules. Integrate with your ERP and business systems directly or via open API. Control spend, improve efficiency, and strengthen compliance.

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Qvalia logo

Cloud-based accounting software for automatic invoicing

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Qvalia is a platform for finance teams and procurement to automate processes and enable effortless line-item level spend analytics.

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Rippling logo

#1 Global Workforce Management Platform | HR, IT, Finance

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Rippling is the only platform that puts spend management on top of employee data, so all spend is automatically synced across the org.

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Rho logo

All-in-one, integrated financial platform

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Rho streamlines business finances with a suite of integrated spend and cash management solutions—from better banking and smart corporate cards to no-fee AP automation. It offers business checking and savings accounts, corporate credit cards, expense management, AP automation, and treasury management to help finance teams maximize time for strategy.

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ProcureDesk logo

Purchase order management for SMB's - works with QuickBooks

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Finance loves cashflow visibility but employees hate to create manual purchase orders!
That is why we designed ProcureDesk to give your employees an awesome purchasing experience, No more spreadsheets! It integrates with QuickBooks (Online/Desktop), so no double data entry.

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Hybrent logo

Eliminate procurement headaches with Hybrent.

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Hybrent is a cutting-edge, cloud-based solution that helps healthcare facilities automate and streamline your supply chain, procurement, and inventory control processes.

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Spendwise logo

Spend management software for business

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Spendwise - formerly Officewise - is an interactive cloud-based accounting solution that helps small and mid-sized businesses manage their accounting and financial operations

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Emburse Certify Expense logo

Travel and expense report management software

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Gain deep data visibility into corporate spend with the remarkable usability of Emburse Certify Expense. Automatically create reports for employees, streamline approvals, and make reimbursement and reporting effortless for accountants.

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Wrike logo

Manage your projects from start to finish with Wrike

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Wrike is a work management platform trusted by more than two million users across 140 countries. Features include expense reports, time tracking tools, and custom analytics dashboards. Take control of your spending and monitor your resources to increase your organization’s profits.

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Motive logo

The modern fleet management & GPS tracking platform.

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The Motive fleet management solution helps fleets of all types track vehicles with real-time GPS, automate operations, simplify compliance, and protect their business with dashcams—all in one place.

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Buyers Guide

Spend Management Software

What is spend management software?

Spend management software helps automate various aspects of financial management, including procurement, expense tracking, budgeting, and supplier management. It enables finance managers to monitor and categorize expenses for optimizing business spending, enhancing financial control, and improving overall operational efficiency.

Spend management software's budgeting tools help businesses manage costs and avoid overspending. It facilitates compliance with internal policies and external regulations, reducing financial risks. Additionally, it supports vendor evaluation and collaboration, improving supplier relationships and negotiation outcomes. With its in-depth analytics and data-driven insights, businesses can make informed financial decisions and identify cost-saving opportunities.

What are the core features of spend management software?

  • Expense tracking: Records and monitors business expenses, including travel, meals, and office supplies. It categorizes these expenditures to simplify reporting and budgeting. This feature also provides visibility into spending trends over time, which helps make informed financial decisions.

  • Spend analysis: Analyzes business-wide spending patterns and identifies cost-saving opportunities. It records financial outflows, providing insight into where and how funds are allocated. This feature aids in maintaining financial transparency, informs budgeting decisions, and identifies spending patterns.

  • Receipt management: Simplifies the process of capturing and organizing expense receipts. It typically includes the ability to capture digital receipts through mobile apps or scan physical receipts. These digital records are automatically categorized and linked to corresponding expenses.

What are the benefits of using spend management software?

  • Enhances budget control: Spend management tools allow finance teams to establish clear spending limits for different categories and departments. Real-time tracking and expense reporting features help keep expenditures in check, ensuring that budgets are not exceeded. The software sends alerts when anomalies or deviations from the budget occur, allowing for prompt corrective action. Through data analysis and historical spending patterns, businesses can make informed decisions, adjust budgets, and allocate resources efficiently.

  • Helps in cost savings: The data analysis and spend analytics features of the spend management solutions allow finance teams to uncover cost-saving opportunities and negotiate better deals with suppliers. The simplified processes via automation reduce manual errors, administrative overhead, and the need for additional staff. Additionally, the budget control capabilities ensure efficient resource allocation and minimize overspending.

  • Increases financial transparency: Spend management platform enforces and facilitates adherence to internal policies and external regulations throughout the spending process. It integrates predefined rules and approval workflows, ensuring expenses and purchases follow established guidelines. The software generates alerts and notifications when non-compliant actions are detected, allowing immediate corrective measures. Detailed audit trails and documentation provide transparency and accountability. It also aids in supplier compliance by tracking performance against contract terms.

What are the potential issues with spend management software?

  • Complex implementation process: Implementing a spend management system involves integrating the software with existing systems, migrating data, and training employees. This complexity often leads to delays and increased costs. Moreover, adapting to new processes and ensuring the software aligns with the business's needs can pose further challenges.

  • Limited customization options: Customization of a software solution often includes configuring workflows, fields, and reporting to align with specific business needs. However, some spend management tools may not support these customization options leading to inefficiencies and inaccuracies in budget planning or expense tracking.

  • Scalability issues: Scalability issues in spend management software arise when the system struggles to grow or adapt to a business's increasing needs or operational changes. This can lead to performance bottlenecks, increase costs, and reduce efficiency. Some software may lack the capacity to handle large data volumes or complex processes, making it challenging for businesses to scale their operations.

How much does spend management software cost?

Most spend management solutions on the market are priced on a “per month” basis, and their entry-level pricing plan ranges from $2 to $35* per month. An enterprise product that’s priced higher may include additional spend management features, such as supplier management, employee expense tracking, procurement management, approval workflow, cash flow management, strategic sourcing, and contract management.

*The pricing included is for the entry-level/lowest-priced offerings found on vendor websites as of October 30, 2023.

What is spend management software used for?

Spend management software is mainly used to manage a business’s spending. However, based on the data fed into the system and the tool's leveraged features, this software can have multiple use cases. Some of them are:

  • Budget management: Spend management software aids budget management by providing tools for setting, monitoring, and optimizing budgets. It offers real-time insights into spending patterns, allowing organizations to make informed decisions and allocate resources more efficiently. The software can trigger alerts when budgets are nearing exhaustion, helping to prevent overspending. 

  • Receipt management: Spend management software facilitates capturing, organizing, and categorizing expense receipts. It allows users to digitize paper receipts through scanning or mobile apps, eliminating manual data entry. These digital records are automatically linked to corresponding expenses, ensuring accuracy and compliance with expense policies.

  • Financial reporting: Spend management platforms consolidate and analyze spending data. They generate detailed expense reports and visualizations that offer insights into expenses, trends, and cost-saving opportunities. This data-driven approach enables businesses to make informed financial decisions and track their performance against budgets and goals.

Which software tools integrate with spend management software?

Several software solutions integrate with spend management solutions, allowing them to extract data from multiple data sources, systems, and databases to generate comprehensive reports. We looked across thousands of reviews from users of spend management software to identify the products that users frequently mention integrated with their spend management tools:

  • Gmail is an email service platform by Google. Integrating it with spend management software simplifies communication, enabling efficient tracking and approval of expense reports and invoices.

  • NetSuite is an Enterprise Resource Planning (ERP) system that can enhance financial control, automate expense tracking, and simplify procurement processes, ensuring accurate spending data and efficient financial management.

  • Salesforce is a customer relationship management (CRM) platform. Integration with Salesforce allows businesses to track and manage expenses related to customer interactions, enhancing financial visibility and enabling efficient allocation of resources for sales and customer service operations.

  • Slack is a communication and collaboration platform that can facilitate real-time expense approvals and notifications, improving communication and ensuring that budgetary controls are maintained while managing company expenses efficiently.

  • Xero is accounting software, and integrating it with spend management software simplifies expense tracking and financial reconciliation, ensuring accurate accounting data.

We identified these integrations mentioned most often in verified reviews of spend management software published on GetApp within the past two years.

Key considerations when purchasing spend management software

  • Assess the forecasting capabilities. Forecasting capabilities of spend management software allow users to predict future expenses, enabling better budget planning and cost control. By evaluating forecasting accuracy, users can make an informed decision on the software's suitability, ensuring it meets their long-term financial planning and management requirements.

  • Consider vendor management functionality. Vendor management functionality is crucial to evaluate vendor performance, negotiate favorable terms, and maintain transparent communication. By assessing these capabilities, users can determine if the software aligns with their vendor-related needs, ensuring efficient supplier collaboration and cost-saving opportunities.

  • Assess compliance with financial regulations. Ensuring the software adheres to relevant regulations and supports internal policies helps businesses avoid penalties and maintain transparency. By evaluating its compliance features, users can confirm that the tool aligns with their specific regulatory requirements and safeguards financial operations. This assessment ensures that the software helps the business operate within legal boundaries.


Sources

Products evaluated for the pricing calculation were taken from GetApp’s spend management software directory. The pricing ranges exclude freemium versions of the products. The features highlighted were identified based on their relevance and the percentage of products in GetApp’s directory that offer them.

Disclaimer

This spend management software buyers guide was authored by GetApp's content team. We develop our guides using the author’s expertise, insights from 2M+ unique user reviews, and our proprietary data science algorithms to identify trends in user sentiment, preferences, and priorities. Some text was generated with assistance from artificial intelligence tools.