Best Expense Management Software for Singapore Businesses in 2025

As we move further into 2025, the need for automation and streamlined processes has become more apparent than ever. While manual data entry via Excel or Google Sheets might have worked in the past, it’s no longer ideal for growing businesses. And several key trends are driving Singapore businesses to investigate the benefits of expense management software.

Rising transaction volumes, remote work adoption, cross-border operations, and stricter compliance requirements have necessitated smarter financial solutions that provide automation, real-time visibility, and seamless integration with other systems. Businesses are leaning into the convenience of cloud-based software, the benefits of AI, and the immediacy of mobile apps.

But perhaps most significantly, more and more of Singapore’s SMEs are doing business overseas. In fact, the Singapore Business Federation (SBF) noted that 7 in 10 businesses now have an overseas presence, with 56% seeing over 40% of revenue come from overseas - that’s up 2% on 2023 and it’s expected to grow further in 2025¹. This global orientation cannot be simply handled with spreadsheets alone.

So, if you’re struggling to manage cash flow, deal in new currencies, ensure compliance, and connect the financial needs of different departments, you should probably upgrade your expense management software. Here, we’ll take you through the top expense management software options available for Singapore businesses, explore their key features, and guide you in choosing the right solution for your company.

We'll also show you how Wise Business offers a novel, more convenient way to manage business spending across different currencies.

Table of contents
What is expense management software and why do businesses need it? Expensify Volopay Zoho Expense Ramp Aspire Spendesk Airwallex QuickBooks Xero What to look for in a business spend management application

What is expense management software?

Expense management software is a digital solution that centralises and tracks all company spending, including bill payments, corporate card transactions, and employee reimbursements.

These solutions record, categorise, and analyse expenses - automatically - significantly reducing the time and effort required for manual data entry and management.

Key features and benefits

Most expense management solutions include:

• Real-time monitoring of company card usage
• Instant receipt uploads via mobile apps
• Integration with accounting and ERP systems
• Automated expense categorisation
• Streamlined approval workflows
• Detailed spending insights and analytics
• Multi-currency support
• Policy compliance checks

Why businesses need to use expense management software

Singapore SMEs share common financial challenges, particularly staying in control of cash flow and seeing all expenses in one place. These challenges are further complicated by the complexities of dealing with GST, local regulations, and international transactions.

A 2024 survey by the Singapore Business Federation (SBF) revealed that 51% of SMEs are implementing cost-saving measures and 28% are hoping to partially manage this through improved financial planning².

But even with these shared goals, only one in three businesses in Singapore are using expense management software ³.

Inefficient expense management can drain resources and hinder growth. Manual processes, spreadsheets, and outdated systems lead to errors, delays, and a lack of financial visibility. But implementing expense management software provides comprehensive solutions, saving money, time, and resources. Here are the main benefits:

1. Increased accuracy: Reduce human errors in reports and calculations with automation.
2. Enhanced efficiency: Automate expense submissions, approvals, and reimbursements.
3. Real-time visibility: Get a comprehensive view of up-to-the-minute spending patterns and budget use through interactive dashboards and customisable reports.
4. Improved compliance: Automatically enforce company expense policies and spending guidelines.
5. Cost savings: Reduce administrative overhead by eliminating manual tasks, prevent fraudulent claims through enhanced monitoring, and identify cost-saving opportunities through detailed spending analysis.
6. Better decision-making: Access real-time data to empower your resource allocation and budget decision-makers.

🔍 Wise Business is better known for its business account, but it also has some nifty business expense management tools. For example, the Wise Business card allows you to control team expenses by setting spending limits, tracking transactions in real-time, and categorising expenses for simplified reporting. This helps businesses stay in control of their cash flow and manage expenses efficiently, especially when dealing with international transactions. ➡️Discover Wise Business card.

---

Best expense management software in Singapore

Here's an overview of the top expense management solutions available for Singapore businesses in 2025. Some are purely expense management software, while others are all-in-one business financial management tools with integrated business accounts and cards. Features integral to expense tracking, such as receipt scanning, are included with all options.

Expensify

Expensify is one of the most user-friendly expense management solutions on the market, making it ideal for small to medium-sized businesses.

Features:

• Automatic approval workflows
• Automated policy enforcement
• Third-party card reconciliation
• Travel bookings and management
• Real-time expense reporting
• Create and send invoices
• 45+ accounting and productivity integrations

Collect vs Control: Control offers more integration options, as well as more complex approval hierarchies and budgeting tools.

Pricing: Expensify offers paid plans starting from USD$5 per user per month for small teams, and USD$9 per user per month for companies, with a 50% discount on annual subscriptions. Both plans are also available on a pay-per-use basis. The cost of Expensify can be offset against cash back with an Expensify card⁴.

Best for: Small to medium-sized businesses seeking a user-friendly solution with robust receipt capture capabilities.

Volopay

Volopay is a comprehensive spend management platform designed specifically for businesses in Asia-Pacific, with strong multi-currency capabilities.

Features:

• Multi-currency corporate cards (both physical and virtual)
• Automated multi-level approval processes
• Bill payments
• Corporate travel booking
• Integration with accounting software
• Automated expense reconciliation
• Dashboard-based expense discussion

Pricing: Volopay offers custom pricing based on company size and needs. Contact their sales team for a personalised quote. A base charge of 5 SGD is issued per card, plus a fee of 49 SGD if less than 5,000 SGD is spent per month⁵.

Best for: Companies with international operations requiring strong multi-currency support and comprehensive spending controls.

➡️ Read our full Volopay review here. ⬅️

Zoho Expense

As part of the wider Zoho ecosystem, Zoho Expense offers seamless integration with other Zoho products, making it an excellent choice for businesses already using their suite.

Features:

• Customisable expense policies
• Mileage tracking
• Direct deposit payments
• 25+ analytics reports
• Self-booking tool for business travellers
• AI-driven fraud detection
• Integration with accounting systems, HRMS, and ERP
• Automated approval workflows
• Credit card reconciliation

Standard vs. Premium: Standard plans are limited to 20 receipt scans per user. Premium plans include line-by-line item extraction from receipt submissions, as well as per diem management. Premium plans also include more budgeting, reporting, and automation tools.

Pricing: Zoho Expense starts at USD$5 per user per month (billed annually) for the Standard plan, with Premium plan available at USD$9 per user per month. Yearly subscriptions receive up to 30% off. Custom plans are available⁶.

Best for: Businesses already using other Zoho products who want seamless integration across their business software stack.

Ramp

Ramp combines expense management with intelligent finance tools aimed at helping businesses save money.

Features:

• 20x higher credit limits
• Local currency payments
• AI-powered invoice capture
• Price intelligence and built-in savings recommendations
• Travel bookings and receipt matching
• Unlimited virtual and physical cards with custom limits
• Vendor management and spend tracking
• Integration with accounting software such as QuickBooks and Xero

Free vs Plus: Ramp’s Plus plan includes more advanced accounting management rules, more flexibility with local currency payments, advanced vendor management tools, and multi-layer user roles and card controls.

Pricing: Ramp's core platform is free to use, with revenue generated from interchange fees. Premium features are available from USD$15 per user per month⁷.

Best for: Fast-growing startups looking for a flexible solution for optimising spending and identifying cost-saving opportunities.

Aspire

Aspire offers an all-in-one finance operating system specifically designed for startups and SMEs in Southeast Asia.

Features:

• All-in-one finance operating system, including invoice creation and capture
• AI-powered dashboard
• Multi-currency accounts (SGD, USD, GBP, EUR)
• Set fees for international transfers
• Physical and virtual cards
• First card free per user
• Corporate cards with cashback on Ads and SaaS
• Automated bill payments
• Team budgeting tools and card controls
• Accounting integrations, including Xero and Quickbooks

Pricing: Aspire offers a free plan with basic features, including 10 free employees and 2 free admin or finance users, and paid plans for more advanced needs⁸.

Best for: SMEs and startups in Southeast Asia looking for a flexible integrated financial platform.

➡️ Read our full Aspire review here. ⬅️

Spendesk

Spendesk provides a comprehensive spend management platform focused on giving finance teams more control and visibility.

Features:

• Unlimited virtual and physical cards
• Custom approval flows
• End-to-end invoice management
• Expense tracking and reimbursements
• Basic accounting integrations

Essentials vs Scale vs Premium: Scale includes spending dashboards, purchase-order tracking, automated bookkeeping, and more HR and travel tools. Premium also includes support for more transactions (500), AI automation, and API access.

Pricing: Spendesk offers custom pricing based on company size and requirements⁹.

Best for: Mid-sized companies seeking comprehensive spend management with strong approval workflows.

Airwallex

Airwallex combines international payment capabilities with expense management features, making it ideal for businesses with global operations.

Features:

• Multi-currency wallets (up to 23 currencies)
• Market-leading exchange rates
• No international transaction fees
• Physical and virtual cards
• Currency accounts with unique details in 20+ currencies
• Borderless cards for international spending
• Integration with major accounting software, including Xero and QuickBooks
• Integration with local payment apps
• Pay and track international bills
• API access for custom integrations

Pricing: Airwallex offers a pay-as-you-go model with no monthly fees for basic accounts, and custom pricing for enterprise solutions. Features such as advanced expense management tools are charged separately, e.g. 5 SGD per cardholder per month¹⁰.

Best for: Businesses with significant international transactions that need competitive currency conversion and expense tracking.

➡️ Read our full Airwallex review ⬅️

QuickBooks

QuickBooks offers a comprehensive accounting suite with extensive expense-tracking capabilities, making it ideal for businesses that want an all-in-one financial solution. Many of its features are, however, only included in higher subscription plans.

Features:

• Send unlimited custom invoices and quotes
• Financial reporting
• Tax preparation
• Invoicing and payment processing
• LinkFor compliant e-invoicing
• Accounting integrations, including InvoiceNow and banking apps

Simple Start vs Essentials vs Plus vs Advanced: Essentials also offers bill and payment management, employee time tracking, and multi-currency support for 3 users. Plus allows you to track inventory, profitability, and budgets for 5 users. Advanced allows automated workflows, sync with Excel, customised roles and dashboards, and online backup for 25 users.

Pricing: QuickBooks Online starts at 27.25 SGD per month for the Simple Start plan, with premium plans available, up to 109 SGD per month for Advanced¹¹.

Best for: Small businesses needing integrated accounting and expense management in one platform.

Xero

Xero is a cloud-based accounting solution with strong expense management features.

Features:

• Bank reconciliation
• Send quotes and invoices
• Enter bills
• Integration with Hubdoc
• Short-term financial reporting

Starter vs Standard vs Premium: Starter plans are limited to 20 invoices and 5 bills. Multiple currency support is only available for Premium users.

Pricing: Xero offers several plans starting from 29 SGD per month for the Starter plan, with Standard and Premium plans available for 46 SGD and 69 SGD respectively. Some features can be added to lower grade plans individually¹².

Best for: Small to medium-sized businesses looking for software that prioritises smooth expense handling.

➡️ Check out our comparison of QuickBooks vs Xero. ⬅️

---

What to look for in a business spend management application

Choosing the right expense management software doesn’t mean picking the one with the most tech features. The size of your business, your day-to-day finances, and the scale of your international transactions will all be crucial to your final decision. When evaluating the options, consider the following:

1. User experience and accessibility

Software should be intuitive and easy for your team to use. Look for solutions with clean interfaces and mobile apps that make it simple to capture receipts and manage expenses on-the-go. If it’s too complicated, employees won't use it properly.

2. Automation capabilities

Look for features like automatic expense classification, receipt scanning with OCR technology, and policy enforcement. The more tasks the software can automate, the less manual work for your team.

3. Approval workflow management

Check if the software supports your company's approval hierarchy. You should be able to customise approval workflows based on expense amounts, categories, or departments to match your internal policies.

4. Integrations

Verify compatibility with your existing accounting and ERP systems. Seamless integration ensures data flows smoothly between platforms, eliminating the need for manual data entry and reducing the risk of errors.

5. Scalability

Choose a solution that can grow with your business needs. Your expense management software should be able to handle increased transaction volumes and additional users without performance issues.

6. Multi-currency support

For businesses dealing with international transactions, multi-currency support is essential. Look for solutions that can handle different currencies and provide real-time exchange rate information.

🌐 Speaking of handling global transactions...

🔍 Carlos Wang, a seasoned IT professional, began his career as a System Developer at PPolis Inc. and honed his skills in leadership and technology as an IT Architect at IBM. In 2016, he ventured into the startup world as the CEO of Slasify, a company dedicated to revolutionising global payroll solutions. Under his leadership, Slasify has harnessed technological innovation to address the evolving demands of a global workforce, emphasising flexible work arrangements and remote employment. By partnering with Wise Business, Slasify efficiently manages international payroll, enabling seamless payments to contractors and employees in their preferred currencies. ➡️ Read how Slasify uses Wise Business to save time and money while delivering a top-notch service to all their stakeholders

---

How does expense management software work?

Expense management software typically follows these steps:

1. Expense capture

Employees submit expenses through mobile apps, web interfaces, or direct imports from corporate cards. Modern solutions typically offer receipt scanning capabilities, allowing users to simply take a photo of their receipt with their smartphone.

2. Data extraction

OCR (Optical Character Recognition) technology extracts relevant information from receipts, including vendor name, date, amount, and tax information.

3. Categorisation

Expenses are automatically categorised based on predefined rules or AI-powered analysis. Most systems will learn from previous categorisations to improve accuracy over time.

4. Approval process

Submissions are routed through the appropriate approval workflow based on company policies. Approvers receive notifications and can review and approve expenses from anywhere.

5. Reimbursement

Approved expenses are processed for payment, either through direct deposit or integration with payroll systems. This streamlines the reimbursement process.

6. Reporting and analytics

The system generates insights and reports on spending patterns, helping finance teams identify trends, track budgets, and make data-driven decisions.

---

Which expense management software is best for SMEs in Singapore?

For Singapore SMEs, the ideal expense management solution should balance functionality with cost-effectiveness. Some solutions may be bloated with features - SMEs typically don't need complex approval workflows or enterprise-grade integrations that larger corporations require. By considering your company's specific needs, you can choose a solution that will help drive efficiency and growth in 2025 and beyond.

Whether you opt for a specialised expense management tool like Expensify or Zoho Expense or an all-in-one financial platform like Aspire or Airwallex, the key is to select software that automates those time-consuming manual tasks, provides real-time visibility, and scales with your business.

💡As we’ve seen, Singapore SMEs are prioritising international growth and engagement with overseas partners, but managing foreign transactions, controlling foreign expenses, and doing it with less cost is a significant challenge. Opting for a solution like Wise Business can be of great benefit, as it offers business expense management tools alongside a multi-currency account with business cards.

Wise Business provides:

• Multi-currency accounts that let you hold and manage 40+ currencies
• The mid-market exchange rate for currency conversions
• Transparent, low-cost international transfers
• Business debit cards for easy expense tracking
• Real-time spending notifications
• Team access with customisable permissions
• Integration with popular accounting software

Get started with Wise Business today

---

Sources:

1. Singapore Business Federation Overseas Accounts
2. Singapore Business Federation SME Survey 2024
3. Xero Money Matters Report
4. Expensify Pricing Page
5. Volopay Pricing
6. Zoho Expense Pricing
7. Ramp Pricing
8. Aspire Pricing
9. Spendesk Pricing
10. Airwallex Pricing
11. QuickBooks Pricing
12. Xero Pricing

Sources checked on 14.03.2025.