17 Best Spend Management Software for 2024

Smart Company Cards: Powered by Mastercard, Pleo offers physical, virtual, and temporary corporate credit cards for safe and flexible business expenses, vendor payments, and petty cash.

Accounts payable: Avoid data entry to perform bookkeeping, manage invoices, and track accounts payable. Includes approval workflows and payment solutions. It also includes reconciliation features and integrations with leading accounting software like Sage50, QuickBooks, Xero, and more.

Spend controls: Use multi-step approval workflows and custom spend limits to track and control spending across multi-entity organizations.

Automation: Design automation workflows to chase receipts, invoices, and report generation to analyze employee spending.

Recurring payments: Handle subscriptions seamlessly on autopilot and catch any duplicates or remove unused services.

Physical and Virtual cards with spend control services

Real-time transaction monitoring and limit regulation

Budget Management and integrated accounting

Payment approval system

Mobile app for invoice uploading

Accounts payable: Automate manual tasks to save time on tasks like data entry, data extraction, bulk payments to vendors, recurring payments, and invoice follow-ups.

Corporate cards: Get use-case-specific cards to handle subscriptions, one-time transactions, or projects. Place approval workflows and spending limits to control the budget and track expenses in real-time.

Purchase requests: Streamline the procurement process by designing spend policies, creating custom purchase requests, automating invoice generation, and using budget alerts when spending doesn’t adhere to imposed compliance.

Integrations: Moss provides 2-way integrations with major HR, ERP, SSO, and accounting tools like Oracle, QuickBooks, Workday, Deel, Azure, TravelPerk, and others.

Automated accounting tools: Moss uses AI to place captured data into the right accounting fields. It also alerts about empty fields and missing information, flags unauthorized transactions, analyzes business expenses for cost-cutting, and more.

Corporate credit cards: Allows issuing branded physical and virtual corporate credit cards to track business spending in real-time. You can apply custom spend policies, generate reports on tracked transactions, and block/revoke access on non-adherence to rules.

Workflow automation: Use no-code to create custom fields and design workflows to automate manual tasks like assigning corporate cards, handling reimbursements, generating business expense reports, and more.

Permission profiles: Control data access for employees or departments, design expense approval chains, route approval requests to the right managers, etc.

Policy control: Rippling allows you to create ‘supergroups’ to dynamically assign employees based on their location and role. This avoids independently setting up manual policies like corporate card limits for each employee.

Bill payments: Automate bill generation when employees or vendors submit invoices or receipts. In a single dashboard, track overdue bills, generate forecast reports, and prioritize accounts payable.

AI-enabled accounting software: Uses AI algorithms to simplify accounting, including bank reconciliations, receipt data entry, match fields, expense codes, and more.

Analyze spend data: Understand spending patterns across global entities, current funds vs. upcoming spending to make strategic decisions, or track workflow status on ‘Group’ levels in a centralized spend dashboard.

Security: Includes provisions to comply with local regulatory laws and is SOC1, PCI DSS, and SOC2 compliant with 24/7 monitoring for added security.

Global payments: Issue cards and create dedicated IBANs worldwide, covering Europe, the US, and the UK. It also offers single-click, cost-effective transfers to over 160 countries in 50+ currencies.

Cost savings: Provides cashback on corporate card spending, makes VAT reclaim processing more efficient with receipt management, and aggregates multiple spend management tools into a single platform.

Guided procurement process: Automates complete procure-to-pay process with approval workflows without writing code.

360° spend visibility: Track service-level agreements across vendors and procurement metrics, identify risky or dormant payments, find cost-saving opportunities, and more with integrated spend analytics.

Fraud detection: Airbase can detect any attempts to change bank account details or card pins or modify spending limits.

Vendor portal: Manage vendor contracts, communication, invoices, payments, and purchase requests with a dedicated vendor dashboard.

Bill payments: Centralize and manage accounts payable using Airbase’s OCR technology to capture invoice or receipt details with 3-way matching for accuracy.

Spend optimization: Precoro’s procurement software offers visibility to identify cost-saving opportunities and optimize your purchasing approach by seamlessly modifying workflows.

Budgeting: Manage procurement expenses with the ones from other departments, track spending behaviour, and forecast to prepare for cost-cutting to meet budgets.

Supplier management: Find the best suppliers that meet your spending budgets and timelines, set up supplier approval workflows, streamline contracts, and more.

Accounts payable automation: Remove manual paperwork and data entry from invoicing workflows and manage billing cycles. This includes using OCR technology to match invoices with receipts and purchase orders in a 3-way fashion to ensure accuracy and avoid duplicates.

Interactive reporting: Create automated and custom reports using 120+ fields and 20+ filters. This includes tracking audit trails by comparing document versions.

Corporate credit cards: Get single-use physical and unlimited virtual cards with approval workflows and company spending limits to track every expense as your employees use them to make payments.

Contract management: Provides an interface for negotiating vendor terms with a better price structure, renewing contracts on time, viewing contract status and progress, implementing approval processes, and more.

Business travel expenses: Centralize booking travel tickets, track on-the-road receipts, and seamlessly reimburse employees for out-of-pocket expenses.

Budgeting: Pay invoices in bulk, track expenses in real-time, forecast expenses, and find ways to control them for better budgeting.

Payment solutions: Centralize expenses across subscriptions, team perks, reimbursements, and other online payments. Includes audit trailing of transactions and approvals for better transparency.

Manage sourcing: Source-to-contract features include templates to speed up quotations, using AI to create contracts, understanding key clauses from vendor contracts, performing sourcing scenarios, and more.

Supplier portal: Use AI to vet potential suppliers and seamlessly onboard them once the contract is in place. You can monitor supplier performance with market trends, manage a complete contract lifecycle, and detect risks to stay prepared for supplier shocks.

Expense management: Use OCR technology to capture receipts, spend guard for fraud detection, and design complex company spending approval workflow automation to reduce manual work.

Coupa pay: Implement pre-approved expenses, offer early pay discounts, pay vendor invoices, and use virtual cards to manage cash flow and payments.

Spend analysis: Capture data across complete business spending transactions and use AI to explore cost-saving strategies. The Coupa visual dashboard provides required visibility and insights into spend categories, market dynamics, and spend management efficiency metrics.

Spend controls: Place adequate vendor rules, lock-in periods, or spending limits to control company spending. Get alerted if anyone crosses pre-defined spending policy rules to ensure strict compliance.

Permissions: Implement approval workflows to accept or review submitted expenses or procurement transactions.

Spend reports: Track company spending in real-time and generate custom reports to know alternative cost-effective options for procurement.

Spend optimization: Identify duplicate payments, track transactions for auditing, perform forecasts, use reminders for on-time spend data collection, and more.

Plug and Pay cards: Provides pre-approved virtual and physical VISA corporate cards with security for fraud detection, custom spend limits, and more. Includes cashback on payments.

AI automation: Use AI algorithms to automate receipt collection, extract data from them, generate missing receipt data based on sales data, automate invoice workflows, and more.

Accounts payable: Categorize transactions using AI and historical transaction patterns. Ramp’s AI also helps review transactions based on designed spending policies to reduce manual work.

Budgeting: Create pre-defined budgets and include relevant stakeholders in designing custom approval chains and travel routes. Use AI-led expense analysis to gain insights into business spending patterns.

Procurement: Centralize procurement workflows and use AI to create or manage contract documents. Includes 3-way matching to validate submitted invoices with receipts and purchase orders.

Global corporate card and payments: Ramp allows spend management across 40 currencies, provides global reimbursement support in their local currency in 70 countries, and supports international taxation for seamless accounting.

Corporate cards: Brex cards (issued over Mastercard) are globally accepted for their physical and virtual cards. They support tracking expenses in 100+ currencies and reimbursing employees in 30+ currencies in the local bank account.

Multi-entity spend controls: Track business spending and add spend limits across headquarters and subsidiary transactions in real-time.

Travel expense management: Brex provides a single platform for managing global travel booking, controlling group spending, and navigating itinerary changes. It also provides exclusive airline deals with carriers like EasyJet or Frontier.

Enforce spending policy: Brex helps implement rules on spending across bill payments, cards, reimbursements, and travel. Using AI, you can determine which expenses adhere to the spending policy for approval and gain insights into the effectiveness of your policies.

Live budgets: Monitor company spending patterns in real-time and strategize budgets by setting up ‘pre-approved’ spending. Generate reports across various expenses to optimize budgets further.

Emburse cards: Issue virtual and physical cards to allow employees to make pre-approved business purchases. Set up custom policies and budgets for every transaction category to block unauthorized transactions at the point of sale itself.

Certify payments: Perform transactions globally to instantly reimburse employee expenses as per local regulations across various supported payment modes, including checks.

Track and audit: Certify tracks complete expense-to-payment flow to help generate 40+ exhaustive reports across reconciliation, client billables, expense policy metrics, travel expenses, taxes, and more.

Travel spend management: Implement pre-trip approvals and access corporate rates for travel bookings to save on travel costs. Capture, sync, and share travel expense data for seamless accounting.

Invoice management: Use OCR technology and approval automation to get visibility into the complete invoice cycle. You can also automate manual tasks to improve business cash flows and navigate compliance risks with vendors.

BILL Divvy card: Powered by Visa, the BILL Divvy Card allows implementing spending limits and earning rewards on transactions. Includes access to business credit ranging from $1000-5M and a contactless payment feature.

Budget management: Design custom spending policies for employees based on their roles and ownership. Review company spending on a real-time dashboard to adjust budgets for better spending management.

Accounts payable: Automate end-to-end payables process, from capturing bills to making payments and syncing data for further accounting.

Expense reimbursements: Track reimbursements in one place with real-time visibility into company spending. A payroll system can manage employee payouts using automatic ACH transfers.

Expense reporting: Helps catch unauthorized payments, generates financial reports to track historical expense vs. budget, and performs forecasts.

SAP spend control tower: Aggregates company spending data and uses AI to categorize it to obtain insights on supplier and cost optimization. It includes dashboards to track business spending KPIs and identify potential supplier risks.

Procure-to-pay: The SAP Ariba Buying and Invoicing solution automates procurement processes and enhances supplier collaboration. It also helps with supplier vetting and document management and alerts you about vendors who don’t fit your spending policies.

Global taxation support: Track and manage suppliers with support for 24 languages across 190 countries. It helps navigate local regulations and tax calculations on your business spending.

Invoice management: SAP Concur’s 3-way matching of purchase orders, invoices, and receipts accurately automates the invoice process. This ensures timely payments, avoids duplicates, provides visibility into invoice patterns, and removes manual data entry tasks.

Travel expense management: Helps consolidate your business travel workflows, including booking transportation, handling employee reimbursement, adhering to spending policies, and more.

Supplier management: Helps source relevant suppliers that meet business spending policy. This includes managing pipelines and contracts and negotiations with self-service suppliers for onboarding.

Expense reporting: Workday AI helps extract data from invoices and receipts to generate comprehensive reports for auditing, risk assessment, spend control, and more.

Workday HCM: Direct integration with Workday’s Human Capital Management helps centralize employee engagement, process reimbursements, procure external workforce, align employee’s submitted expenses with spending policy, and more.

Procure-to-pay: Manage all purchase orders, automate supplier invoices, and implement spend controls as per policy to streamline procurement workflows.

Inventory management: Track inventory to forecast required expenses for better budget management. You can implement stock approval workflows, analyze inventory performance, and share data with finance management tools to streamline accounting.

Tipalti cards: Implement spend control rules, automate reconciliations with ERP integrations, reimburse employees worldwide, and earn cashback.

Supplier management: Tipalti’s customizable self-service onboarding empowers suppliers to securely submit payment details, raise invoices, and streamline tax management.

Invoice management: Using OCR technology, Tipalti automates data capture from invoices and performs 3-way matching invoices with purchase orders and receipts. It also improves stakeholder collaboration with in-built communication tools like messaging and comments.

Tax automation: Access KPMG-approved tax engine that supports 3000+ global and US tax regulations. It helps you adhere to IRS requirements, digitize the collection of tax forms, and e-file for on-time year-end tax management.

AI workflow automation: Tipalti’s smart AI scan captures data from invoices, corporate card transactions, and offline receipts. It predicts coding for purchase orders and invoices, automates bill approval flows, and alerts when it detects duplicate transactions or errors.