Small businesses require expense reporting software to ensure their financial condition is good and to improve efficiency. But, there are so many expense management softwares available online, it becomes hard to choose which one fits your needs and budget.
So, we’ve curated a list of the top 11 expense reporting platforms, along with their features, pricing, pros and cons, and overall performance, providing you with all the information you’ll ever need to understand and make an informed decision.
1. Dzylo Expense Management
What’s Best About It? Extensive and Intuitive Features
Dzylo Expense Management is specifically designed for small businesses, providing users with an easy experience through tracking, reporting, and managing expenses. Its user interface is even simple enough that non-technical, non-financial people can handle expenses. Some of it’s features are
- Automated receipt scanning using AI.
- Real-time reporting and custom analytics.
- Integration with major accounting software.
- Employee reimbursement tracking and approval workflows.
Pros:
- Highly intuitive and easy to use.
- Strong customer support.
- Excellent mobile experience.
Pricing:
It has two different plans according to the needs of a business.
- Growth Plan: Rs 4,999/User/Year (416 INR/month per user) (Best for businesses with team sizes up to 10)
- Professional Plan: It has one time fixed cost of Rs 50,000 + Rs 9,999/User/Year
Users are fond of its user-friendliness and the responsive customer service team, so this tool perfectly meets the needs of small businesses in their search for a solution that is simple yet effective.
2. Expensify
What’s Best About It? Automated Reporting and Receipt Scanning
Expensify is popularly related to being an easy-to-use solution, especially for small businesses. It automates much of the reporting process, reducing the burden put on business owners and employees to manage these reports with minimum manual work. Some of its highlights are:
- Automated receipt capture.
- Corporate card reconciliation.
- Integration with QuickBooks, Xero, and NetSuite.
Pros:
- Automatic tracking of receipts via mobile.
- Simplified approval processes for managers.
- Strong integration with major accounting platforms.
Cons:
- Some users find the interface slightly cluttered.
Pricing:
- Collect Plan: Starting at $5/User/Month (1-10 employees)
- Control Plan: Starting at $9/User/Month (10-1000 employees)
A lot of users love Expensify for its simplicity and automation capabilities.
3. Zoho Expense
What Best About It? Integration with Zoho Ecosystem
Zoho Expense is part of the Zoho system and should be of interest to those in the Zoho ecosystem, it helps with simplified management and reporting on your company’s expenses.
Key Features:
- Seamless integration with Zoho Books and other Zoho tools.
- Multi-currency expense management.
- Travel booking and approval workflows.
Pros:
- Great for businesses already using Zoho products.
- Affordable pricing with robust features.
Cons:
- Limited third-party integrations compared to some competitors.
Pricing:
-
- Free for up to 3 users.
- Standard: $3/User/Month
- Premium: $5/User/Month
It is liked by users because it is affordable and falls well in line with other Zoho tools, but it has limited third-party integrations.
4. SAP Concur
What’s Best about it? For Large Teams and Enterprises
SAP Concur is a powerful platform that offers detailed expense tracking for all sizes and kinds of businesses, though it’s really best suited for larger companies.
Key Features:
- Advanced travel and expense management.
- Built-in compliance tools.
- Real-time data sync across multiple devices.
Pros:
- Extensive reporting features.
- Integrates with enterprise-level systems like SAP ERP.
- Ideal for large teams.
Cons:
- Pricing is high for small businesses.
- Steeper learning curve compared to other tools.
Pricing:
- Custom pricing
While its features make it highly regarded, the software is expensive and too complex for many smaller businesses’ needs.
5. QuickBooks Online
What’s Best About It? Integration with Accounting Software
QuickBooks Online offers a built-in expense reporting feature, making it an excellent option for small businesses already using QuickBooks for accounting. Some of its key features are:
- Automatic import of expenses from bank accounts.
- Detailed financial reporting.
- Mobile app for tracking expenses on the go.
Pros:
- Strong integration with other QuickBooks products.
- Affordable for small businesses.
Cons:
- Not as feature-rich as standalone expense management tools.
Pricing:
-
- 30-day free trial
- Simple Start: $9.50/Month
- Essentials: $14/Month
- Plus: $20/Month
- Advanced: $38/Month
Small business owners appreciate the seamless integration with QuickBooks’ accounting tools, although it’s not the best option for larger teams with more complex needs.
6. Rydoo
What’s Best About It? Global Expense Management
Rydoo excels in providing international support, making it ideal for businesses that deal with multiple currencies and international travel. Some key features of the tool:
- Multi-currency support and automatic currency conversion.
- AI-powered receipt scanning.
- Mileage tracking for travel expenses.
Pros:
- Ideal for businesses with international operations.
- Excellent mobile app experience.
Cons:
- Setup can be time-consuming for new users.
Pricing:
- Essentials: $8/User/Month
- Pro: $10/User/Month
- Business and Enterprise are provided with custom prices according to their needs.
Its mobile app as well as international capabilities have gotten high ratings, although getting the setup right sometimes takes a while.
7. Certify
What’s Best About It? Perfect for Growing Businesses with Custom Reporting Needs
Certify is a feature-rich platform with the option of custom reporting and strong accounting software integrations to be a good choice for growing businesses. Some key highlights of the platform
- Automated expense report generation.
- Integration with multiple accounting platforms.
- Mobile app for receipt capture.
Pros:
- Flexible reporting options.
- Strong customer support.
Cons:
- Slightly more expensive than other options.
Pricing:
- Basic Plan: $2/User/Month
- Custom pricing for professional needs.
Users like the strong features of Certify, but it can be a bit overkill for smaller teams.
8. Fyle
What’s Best About It? Real-Time Expense Tracking
Fyle provides a solid and realistic system of real-time expense tracking with smart receipt matching and automated policy enforcement. Some key features of Fyle are:
- Real-time expense tracking.
- Integration with major accounting systems.
- AI-based policy violation detection.
Pros:
- Instant visibility into expenses.
- Strong focus on compliance.
Cons:
- Fewer customization options.
Pricing:
- Growth: $11.99/User/Month
- Business: $14.99/User/Month
- Custom pricing for enterprises.
Users praise its real-time capabilities; however, it may lack a bit of that customization that bigger platforms may give.
9. Wave
What’s Best About It? Free Expense Management Solution
Wave is a free product that works fantastically for freelancers and smaller companies that want to track some simple expenses but don’t really need to pay for them. Some of its key highlights are:
- Free accounting and expense tracking tools.
- Automated receipt scanning.
- Basic reporting tools.
Pros:
- Completely free for users.
- Simple interface.
Cons:
- Limited advanced features.
Pricing:
-
- Free for all users with basic needs.
- Pro Plan: $16/Month
It scores high on free price, but the free version is not suited to businesses that would like more advanced reporting or team management features.
10. Xero Expenses
What’s Best About It? Accounting Integration and Simplified Expense Tracking
Xero Expenses is part of Xero’s broader accounting software suite. It allows small businesses to track and manage expenses securely within the Xero environment. Some of its key features are:
- Automated receipt capture and data extraction.
- Real-time tracking of employee expenses.
- Integration with Xero accounting for seamless financial management.
Pros:
- Perfect for businesses already using Xero’s accounting software.
- Simple and user-friendly interface.
- Real-time reporting and approval workflows.
Cons:
- Limited customization options for more complex reporting.
- Pricing can be higher compared to standalone expense software.
Pricing:
- Starter: $2.90/Month
- Standard: $4.60/Month
- Premium: $6.20/Month
Xero Expenses are very user-friendly, especially while using Xero’s accounting suite. Users have however noted that it is not as feature-rich for businesses that require more advanced expense reporting or third-party integrations high in needs.
11. Bill (Formerly Divvy)
What’s Best About It? Businesses Looking for Free Expense Reporting and Budgeting
Divvy provides a free platform to manage and budget the expenses of small businesses. It tracks spending in real-time and provides corporate cards which would help keep control of the expenses of employees. Its key features are:
- No-cost expense management with integrated corporate cards.
- Real-time budget tracking and expense reporting.
- Automated receipt capture and expense categorization.
Pros:
- Completely free for businesses to use.
- Strong emphasis on budgeting and spending control.
- Excellent mobile app for on-the-go expense tracking.
Cons:
- Requires businesses to use Divvy corporate cards.
- Lacks some advanced features for larger enterprises.
Pricing:
- Essentials: $29/User/Month
- Team: $55/User/Month
- Corporate: $79/User/Month
- Expertise: Custom Pricing
Divvy receives so much praise as a cost-effective solution for small businesses in budgeting and recording expenses without the overhead costs of traditional platforms.
Benefits of Using Expense Reporting Software
While there are unlimited benefits of using an expense reporting software, from personal view to team view to corporate and enterprise views, each serves every need in the expense field reducing the need to hire a person to achieve this task manually. Some most loved benefits of expense reporting expense are found to be:
- Time-Saving Automation
- Real-Time Reporting
- Improved Compliance
- Increased Accuracy
Whether you’re a freelancer, a startup, or a growing company, the right software can help you stay organized and efficient.
Conclusion
Choosing the right expense management software can help small businesses start simplifying their processes, avoid too much manual work, and also ensure accuracy in terms of financial data.
All of the platforms mentioned above offer different kinds of features catering to business needs, such as extremely basic expense tracking up to reporting and compliance tools.
Dzylo Expense Management is specifically designed for small businesses, so if you are looking for an intuitive, all-in-one solution that can facilitate ease for the whole process of expense management, let Dzylo help you become organized and efficient when it comes to managing your business expenses.
Try Dzylo today and experience expense management made easy. Book your free demo here!