Best Spend Management Software (2025) | Top Companies

Spend management software automates expense tracking, approvals, and reporting, giving businesses real-time visibility and control, removing the need to chase invoices or manually sort expenses. This guide covers the best solutions available, helping you find the right fit.

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What is Spend Management Software?

Every business spends money on vendors, subscriptions, supplies, and employee expenses. Without a clear system, costs can quickly spiral, leading to budget overruns, cash flow issues, and compliance headaches.

Spend management software is used for centralized expense tracking, approvals, and reporting in one platform. Businesses can automate workflows, set spending limits, and gain real-time visibility into expenses.

Why Spend Management Software Matters

Traditional expense tracking using spreadsheets and disconnected finance tools creates inefficiencies.

Spend management software keeps every dollar accounted for, helping businesses:

• Stay on budget: Set limits and flag policy violations before they happen.
• Eliminate manual work: Automate approvals, categorization, and reporting.
• Improve financial visibility: Get real-time insights to make smarter decisions.
• Reduce fraud and errors: Catch duplicate payments and unauthorized charges automatically.

Spend Management Tools vs. Applications vs. Software

Not all spend management solutions are the same. Here’s a quick breakdown:

Type	Definition
Spend Management Tools	Individual features within a broader finance system, like expense tracking or invoice approvals.
Spend Management Applications	Standalone apps are designed for specific needs, like travel expense management or subscription monitoring.
Spend Management Software	Comprehensive platforms that combine multiple tools into a single system give businesses complete control over spending.

An all-in-one spend management platform is usually the best choice for small businesses. It streamlines everything without the need for multiple separate tools.

The Best Spend Management Software for Businesses

Selecting the right spend management software will help fully optimize your business’s financial operations. Here’s an in-depth look at some of the top platforms:

1. Rippling

Rippling is an all-in-one platform integrating HR, IT, payroll, and spend management. It offers corporate cards, expense tracking, and bill payment features, providing businesses with a unified system to manage employee expenses and company spending.

Rippling’s automation capabilities streamline processes, reduce manual tasks, and enhance financial oversight.

Features:
Comprehensive integration of HR, IT, and finance functions
User-friendly interface
Scalable solutions suitable for growing businesses
Pricing details not publicly disclosed
May offer more features than necessary for very small businesses

Pricing: Custom pricing based on company size and requirements..¹

2. Spendesk

Spendesk combines corporate cards, automated invoicing, and approval workflows into one platform, giving finance teams complete visibility and control over company spending.

It provides virtual and physical corporate cards, automated expense report generation, customizable approval workflows, and seamless integration with accounting systems for streamlined bookkeeping.

Features:
User-friendly interface
Comprehensive spend controls
Real-time spend visibility
May offer more features than necessary for very small businesses

Pricing: Custom pricing based on company size and requirements.²

3. Mesh Payments

Mesh Payments is a spend management platform that gives businesses control and visibility over every transaction.

It automates manual tasks, streamlines payment workflows, and offers features like virtual cards for specific expenses, enhancing control and security. Mesh integrates with various ERP and business applications, adapting to existing workflows.

Features:
Unlimited virtual cards for specific expenses
Automation of expense tracking and reconciliation
Real-time visibility into company spending
Initial setup may require entering new credit card information for vendors
Some users report the need for more flexible integrations

Pricing: Mesh Payments offers a free Pro plan, a Premium plan at $10 per user/month, and custom pricing for Enterprise.³

4. BILL Spend & Expense (Formerly Divvy)

BILL Spend & Expense combines corporate cards with spend tracking and budget management tools, giving finance teams real-time visibility and control over company expenses.

It offers unlimited virtual and physical corporate cards, real-time spend tracking and budget management, automated expense reporting with receipt capture, and integration with accounting software for streamlined processes.

Features:
Free to use with no subscription fees
Comprehensive spend controls and budgeting tools
User-friendly interface
Customer support can be slow during peak times
Limited international capabilities

Pricing: BILL Spend & Expense is free to use, but additional services may incur costs.⁴

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Wise Business: Seamlessly Integrate and Start Spending Internationally (You could save!)

Wise Business can help you save big time on international payments.

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in 40+ currencies.

Signing up to Wise Business allows access to BatchTransfer which you can use to pay up to 1000 invoices in one go. This is perfect for small businesses that are managing a global team, saving a ton of time and hassle when making payments.

Some key features of Wise Business include:

• Mid-market rate: Get the mid-market exchange rate with no hidden fees on international transfers
• Global Account: Send money to 160+ countries and hold balances in multiple currencies, all in one place. You can also get major currency account details for a one-off fee to receive overseas payments like a local
• Access to BatchTransfer: Pay up to 1000 invoices in one click. Save time, money, and stress when you make 1000 payments in one click with with BatchTransfer payments. Access to BatchTransfer is free with a Wise Business account
• Auto-conversions: Don't like the current currency exchange rate? Set your desired rate, and Wise sends the transfer the moment the rate is met
• Free invoicing tool: Generate and send professional invoices
• No minimum balance requirements and monthly fees: US-based businesses can open an account for free. Learn more about fees here

Try Wise Business >>

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5. Tipalti

Tipalti is a comprehensive accounts payable and payment automation platform that simplifies global vendor payments and financial workflows. It focuses on streamlining invoice processing and ensures compliance for growing businesses.

Features include automated invoice processing and payment reconciliation, support for domestic and international vendor payments in multiple currencies, and built-in compliance features for tax and regulatory requirements.

Features:
Extensive global payment capabilities
Strong compliance and risk management features
Scalable solution suitable for growing businesses
Pricing details not publicly disclosed; requires contact for a quote
May be complex for small businesses with simple AP needs

Pricing: Custom pricing based on business needs⁵

6. Airbase

Airbase is an all-in-one spend management software combining corporate cards, bill payments, and expense automation into one platform. It provides real-time tracking, automated approval workflows, and seamless accounting integrations with QuickBooks, NetSuite, and Xero.

Businesses benefit from guided procurement, AP automation, and spending controls that help finance teams optimize operations.

Features:
Strong automation features for reducing manual approvals
Real-time spend visibility across all payment types
Customizable approval workflows for better control
Limited procurement features compared to enterprise-level solutions
Not ideal for very small businesses with simpler needs

Pricing: Airbase offers a Standard plan for businesses with up to 200 employees. Pricing is based on features required.⁶

7. Workday Spend Management

Workday is a comprehensive platform designed to streamline procurement, supplier management, and expense tracking.

It offers real-time analytics, automated workflows, and seamless integration with other Workday applications, enhancing financial planning and compliance.

Features:
Unified platform integrating procurement and financial processes
Real-time analytics for informed decision-making
Strong integration with other Workday applications
Steep learning curve for new users
Customization limitations
Complex configurations for advanced features

Pricing: Workday offers custom pricing based on organizational needs and size. Companies with fewer than 500 employees can expect annual costs between $150,000 and $300,000.⁷

8. SAP Concur

SAP Concur is a leading solution for travel, expense, and invoice management, designed to automate and integrate these processes for better compliance and cost control.

It provides features like automated travel booking, expense reporting, and invoice management, with integration capabilities for various financial platforms.

Features:
Comprehensive integration with various financial platforms
Mobile app support for on-the-go expense management
Streamlined travel and expense processes
High costs, especially with per-expense-report billing
Lengthy implementation time

Pricing: SAP Concur’s pricing starts at around $9 per user per month, varying based on selected modules and organizational usage.⁸

Key Features to Look for in Spend Management Software

The best spend management software tools automate workflows, improve visibility, and prevent unnecessary spending.

Here’s what to look for.

Automated Expense Tracking

Manual expense tracking is slow and full of errors. 19% of expense reports contain mistakes, and fixing one takes 18 minutes and costs $52.⁹

Automation eliminates manual work, categorizes transactions instantly, and enforces policies to keep spending in check.

• AI-powered receipt scanning that eliminates manual data entry
• Real-time updates to track spending as it happens
• Automatic policy enforcement to flag non-compliant expenses

Invoice and Approval Workflows

Waiting for invoice approvals slows down payments and creates cash flow issues. Automated workflows streamline approvals, reduce manual errors, and ensure invoices get processed on time.

This keeps vendors happy and prevents late fees.

• Custom approval workflows that match your company’s process
• One-click invoice matching to prevent duplicate payments
• Automated reminders to speed up approvals and avoid delays

Integration with Accounting & ERP Systems

Disconnected financial systems lead to errors and inefficiencies. Integrating spend management software syncs transactions reduces manual data entry, and improves financial accuracy across platforms.

This ensures real-time visibility and seamless reconciliation.

• Seamless integration with accounting and ERP systems
• Automated data syncing to eliminate duplicate entries
• Real-time reconciliation for accurate financial reporting

Real-Time Analytics & Reporting

Without real-time insights, businesses risk making decisions based on outdated information.

Implementing real-time analytics provides immediate visibility into cash flow, expenses, and revenue, enabling proactive financial management.

• Live dashboards to monitor spending as it occurs
• Customizable reports for tailored financial insights
• Forecasting tools to anticipate future expenses

Budgeting & Forecasting Tools

Effective budgeting is essential for financial health.

Advanced spend management software allows businesses to set budgets, monitor expenditures, and adjust forecasts, ensuring alignment with financial goals.

• Dynamic budget setting to allocate resources efficiently
• Alerts for budget overruns to maintain spending discipline
• Predictive analytics to enhance financial planning

Multi-Currency & Global Payments Support

For businesses operating internationally, managing multiple currencies can be challenging.

Spend management software that supports multi-currency transactions simplifies global operations and reduces currency conversion complexities.

• Handles payments in various currencies to facilitate international trade
• Transparent foreign exchange rate to minimize conversion cost
• Compliance with international tax regulations to ensure legal adherence

Security & Compliance

Protecting financial data and maintaining compliance is key.

Organizations that implement automated compliance technologies can save an average of $1.43 million in compliance costs.¹⁰

• AI-powered fraud detection to identify suspicious activities
• Automated policy enforcement to ensure adherence to regulations
• Encrypted payment processing to safeguard financial transactions

When you focus on these features, your business can select spend management software that streamlines operations and supports strategic financial goals.

Choosing the Right Spend Management Software for Your Business

The right spend management software depends on your company’s size, needs, and financial goals.

Here’s what to consider before making a decision.

Business Size & Needs

Small businesses need simple, cost-effective tools that handle basic expense tracking. Enterprises often require advanced automation, multi-user access, and deep integrations. Choose software that fits your company’s complexity.

Ease of Use & Implementation

A powerful tool is useless if your team struggles to use it. Ensure smooth operations by looking for intuitive interfaces, quick onboarding, and minimal training requirements.

Scalability & Integration

Your needs today won’t be the same in five years. The best software scales as your business grows and integrates with accounting tools, ERP systems, and banking platforms to keep financial data connected.

Pricing & ROI

Cost matters, but so does value. Compare pricing plans to see if the software saves time, reduces errors, and implements financial control enough to justify the investment. Free trials can help test the waters before committing.

Customer Support & User Experience

A great product needs reliable support. Check reviews on Capterra, G2, and Trustpilot to see if users praise customer service, system reliability, and ease of use before deciding.

Practical Steps to Implement Spend Management Software

1. Assess Your Current Financial Processes

Before jumping into new software, pinpoint where your current system falls short.

Key questions to consider include:

• What are the bottlenecks? (Slow approvals? Missing receipts? Expense fraud?)
• How does your team track spending today? (Spreadsheets? Manual receipts? Accounting software?)
• Who needs access to financial data? (Just finance, or department managers too?)

2. Choose the Right Software

A solution for a 50-person startup may not work for a 1,000-person enterprise. Focus on what aligns with your business size and structure.

Consider:

• Customization: Does the software allow you to set spending limits, approval tiers, and automation rules that match your workflow?
• Integrations: Does it sync with your accounting software, ERP system, and payroll tools?
• Security: Does it offer role-based permissions and fraud detection to prevent unauthorized spending?

3. Integrate with Existing Financial Systems

A properly integrated system means fewer errors, faster approvals, and a single source of financial truth.

• Link it to your accounting system (QuickBooks, Xero, NetSuite) for real-time financial tracking.
• Ensure expense reports and invoices sync automatically so finance teams don’t waste time manually entering data.
• Use API connections to automate workflows between spend management, payroll, and supplier payments.

4. Train Your Team & Set Guidelines

Automation works best when every employee follows the process consistently.

• Make it mandatory: Hold short, focused training sessions explaining how to submit expenses, track budgets, and approve payments.
• Define clear spending policies: Set who can approve what, spending limits, and which purchases need pre-approval.
• Enforce adoption: If employees still submit expenses manually, finance teams won’t see the full benefits. Make using the software non-negotiable.

5. Monitor, Optimize & Scale Usage

Use real-time analytics to catch inefficiencies in usage, many businesses track the following:

• Approval speed: Are invoices and expenses getting approved faster?
• Policy compliance: Are employees sticking to spending limits?
• Cost savings: Has unnecessary spending gone down?

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Sources:

1. Pricing | Rippling
2. Pricing | Spendesk
3. Pricing | Mesh
4. Plans and Pricing | Bill
5. Plans and Pricing | Tipalti
6. Pricing | Airbase
7. Workday Pricing Explained: What to Consider
8. SAP Concur | SoftwareConnect
9. 7 reasons to automate expense management | Bill
10. Centralized Governance And Audits Reduce Total Compliance Costs