Best business expense tracker app of 2024

Volopay is an all-inclusive expense tracker app suitable for businesses of any scale. With its highly equipped, state-of-the-art interface and robust functionalities, it stands as one of the best options for effective expense tracking and management.

● Features

Volopay offers automated receipt scanning, making it effortless to capture and categorize expenses. It allows integration with various accounting software for seamless data synchronization. The app supports multi-currency transactions, ideal for businesses dealing with international clients. Moreover, it provides real-time expense reporting, enabling better financial insights and decision-making.

● Ease of setup and use

Volopay boasts a simple and quick setup process, requiring minimal technical expertise. The intuitive interface ensures that employees can start using the app with ease, reducing the learning curve.

● Requirements to use

The Volopay application is available for both iOS and Android platforms, accessible through smartphones and tablets. All you need to use Volopay is a registered business, a stable connection, and a mobile or computer device.

● Fees/Pricing

Volopay offers different pricing plans based on business needs, with options for small businesses and enterprises. The pricing includes various features such as expense tracking, team collaboration, and integration capabilities.

● Benefits

Volopay streamlines expense management, providing a centralized platform for tracking and controlling expenditures. Its automation features save time and reduce the chance of manual errors.

Real-time reporting helps businesses stay on top of their finances. The platform also comes with a highly customizable, multi-level approval workflow system, this feature makes expense control and tracking particularly effective.

Additionally, Volopay offers both virtual as well as physical corporate cards to aid the process of employee expense management. You can even issue unlimited virtual cards without having to pay any extra charges. Volopay’s customer service is also a huge benefit given how hands-on and effective their support is

● Limitations

While Volopay offers a range of features, some users might find the feature-loaded application a little difficult to navigate at first.

Zoho Expense is a widely used and feature-rich expense tracker app designed to simplify the expense management process for businesses of all sizes.

● Features

Zoho Expense facilitates receipt scanning and intelligent expense categorization, simplifying data entry and reducing the burden on employees. It integrates smoothly with other Zoho applications and popular accounting software, ensuring a seamless workflow and streamlined financial management. The app supports multi-currency transactions, allowing businesses dealing with international clients to operate smoothly.

Moreover, Zoho Expense enables users to set expense limits for better budget control and offers real-time expense reporting, providing timely insights for informed decision-making.

● Ease of setup and use

Zoho Expense comes with a user-friendly interface and simple setup process, making it easily accessible to users with different levels of technical proficiency. Its intuitive design enables employees to start using the app effortlessly, minimizing the time required to learn the ropes and encouraging swift adoption across organizations.

● Requirements to use

Zoho Expense is available on both iOS and Android platforms, making it convenient for users across different devices. Whether employees use smartphones or tablets, they can easily access the app and manage expenses efficiently.

● Fees/Pricing

Zoho Expense offers various pricing plans, with options suitable for freelancers, small businesses, and enterprises. The pricing is competitive, considering the wide array of features it offers, making it a cost-effective choice for businesses of all scales.

● Benefits

Zoho Expense offers seamless integration with other Zoho products, creating a comprehensive ecosystem for business management. The automated features reduce administrative burdens and ensure data accuracy, resulting in more efficient expense tracking.

Moreover, the app's multi-currency support caters to the needs of businesses engaged in cross-border transactions.

● Limitations

While Zoho Expense provides an extensive range of features, some users might find that certain advanced functionalities are limited in the lower-tier pricing plans, prompting them to opt for higher-priced plans to access the full suite of tools.

However, even in its basic form, Zoho Expense remains a solid choice for businesses seeking a user-friendly and efficient expense management solution.

Expensify is a widely recognized and acclaimed expense tracker app known for its user-friendly approach and extensive functionality.

● Features

Expensify stands out with its exceptional receipt scanning abilities, employing advanced Optical Character Recognition (OCR) technology to automatically capture comprehensive expense details. This robust functionality significantly diminishes the necessity for manual data input, thus saving time and reducing errors.

The app seamlessly integrates with diverse accounting software, guaranteeing a seamless expense management experience. Particularly advantageous for global businesses, Expensify's multi-currency support facilitates effortless handling of transactions in various currencies.

Furthermore, the app's advanced policy enforcement and automated approval workflows streamline the entire expense reporting procedure, ensuring rigorous adherence to company policies.

● Ease of setup and use

Expensify is particularly popular because of its meticulously designed user interface, which is both welcoming and at the same time user-friendly. This system is easily usable by individuals with diverse technical backgrounds.

Whether you are an experienced finance professional or a novice business owner, the app's intuitive layout guarantees a smooth and effortless navigation process.

● Requirements to use

The list of requirements for using Expensify isn't particularly long. The platform can be easily accessed from a variety of devices and is compatible with both iOS and Android operating systems, catering to a wide range of users across different platforms.

● Fees/Pricing

Expensify offers various pricing plans to suit businesses of all sizes. While it offers a free plan with basic features, more advanced capabilities are available in paid plans, making it a versatile solution for various budget requirements.

● Benefits

Expensify's robust receipt scanning technology significantly lessens the administrative workload linked to managing expenses. Automating data entry enables employees to concentrate on essential tasks, while finance teams gain access to precise and real-time expense information.

The app's enforcement of policies and automated approval workflows foster uniformity and adherence within the organization, leading to increased efficiency.

● Limitations

Some users may find the pricing for the paid plans relatively higher compared to other expense tracker apps in the market.

Additionally, while Expensify offers a wide range of features, businesses with highly complex expense management needs may require more specialized solutions.

SAP Concur is a robust expense tracker app favored by large enterprises for its comprehensive features and scalability.

● Features

SAP Concur offers a wide range of features, including receipt scanning, real-time expense reporting, and integration with various accounting systems. Its multi-currency support and automatic currency conversion make it ideal for international businesses.

Additionally, SAP Concur provides a travel management component, allowing users to manage both travel and expense processes within the same platform.

● Ease of setup and use

SAP Concur's setup process may require more extensive configuration due to its enterprise-level features. However, its user-friendly interface makes it easy for employees to navigate.

● Requirements to use

SAP Concur is available for both iOS and Android devices, accommodating users across different platforms.

● Fees/Pricing

SAP Concur's pricing is tailored for large enterprises, and it offers various plans based on the organization's requirements.

● Benefits

SAP Concur provides a comprehensive solution for travel and expense management, streamlining both processes for large enterprises. Its robust reporting and analytics features offer valuable insights for better financial control.

● Limitations

SAP Concur's pricing and features may be excessive for small to medium-sized businesses, making it more suitable for larger enterprises.

Rydoo is an extremely user-friendly expense tracker app that focuses on simplifying expense management for businesses of all scales and sizes.

● Features

Rydoo offers efficient receipt scanning and expense categorization, reducing manual data entry. It integrates seamlessly with popular accounting software, streamlining expense reconciliation. The app supports multi-currency transactions, catering to businesses with international operations.

Rydoo's offline mode allows users to enter expenses without an internet connection, making it convenient for travelers.

● Ease of setup and use

You can get started with Rydoo via a relatively simple and intuitive setup process. Whether you are a tech-savvy user or someone with limited technical expertise, Rydoo's user-friendly interface ensures that you can get started without any complications.

The app's design and navigation make it easy for employees to navigate and use efficiently, reducing the learning curve and promoting widespread adoption within organizations.

● Requirements to use

Like most of the other best expense tracker apps, Rydoo is also available on both Android as well as iOS platforms. The only requirements are a device and a stable internet connection.

● Fees/Pricing

One of the major attractions of Rydoo is its competitive pricing plans. The app offers cost-effective solutions, making it an attractive choice for businesses, particularly small to medium-sized enterprises.

The pricing model caters to various business needs, and users can select a plan that aligns with their budget and requirements.

● Benefits

Rydoo's offline mode is particularly valuable for employees who frequently travel for business purposes. With the offline mode, users can capture expenses even in remote locations without an internet connection. The app stores the data locally and synchronizes it once the internet connection is restored, ensuring that no expense is overlooked, regardless of the location.

Furthermore, Rydoo's seamless integration with accounting software expedites the expense reporting and reconciliation process. This feature is especially beneficial for finance teams, as it helps them maintain accurate financial records and gain better insights into the company's financial health.

● Limitations

While Rydoo offers a range of essential features, some users might find that it lacks the extensive functionalities typically associated with expense tracker apps targeted at larger enterprises.

However, for small to medium-sized businesses seeking a straightforward and cost-effective solution, Rydoo is a strong contender.

The utilization of business expense tracker apps leads to a notable improvement in the efficiency of managing expenses. These innovative tools replace time-consuming and error-prone manual methods with a seamless process where employees can effortlessly capture receipts using their smartphones and automatically categorize expenses.

This streamlined approach expedites expense processing, ensuring prompt reimbursements and saving valuable time for both employees and finance teams.

Business expense tracker apps provide a higher level of precision compared to traditional manual methods. By automating data entry and calculations, these apps significantly reduce the risk of human error, minimizing the likelihood of financial discrepancies and compliance issues.

The result is more reliable and accurate expense reports, instilling confidence in the financial management of the organization.

Maintaining policy compliance is crucial for every business to ensure financial integrity and adhere to legal regulations.

Expense tracker apps often come equipped with features that allow companies to set up and enforce expense policies. These policies can include spending limits, permissible expense categories, and approval workflows.

By integrating policy compliance checks into the expense reporting process, businesses can reduce the likelihood of non-compliant expenses, preventing potential financial and legal ramifications.

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Expense tracker apps offer real-time visibility into employee spending patterns, empowering businesses to exercise better control over their costs.

With comprehensive expense data and analytics at their disposal, finance teams can identify areas of excessive spending and implement targeted cost-cutting measures. This proactive approach to cost control ensures optimal resource allocation and prudent financial management.

Businesses are often required to undergo audits to ensure financial transparency and compliance. Expense tracker apps create a detailed and accessible audit trail, recording all expense-related activities from submission to approval and reimbursement.

This transparent record-keeping helps businesses provide evidence of their financial transactions and simplifies the auditing process, saving time and effort for both auditors and company personnel.

As businesses grow and expand, their expense management needs also evolve. Business expense tracker apps offer scalability, accommodating the changing requirements of a growing organization.

Whether a company has ten employees or thousands, these apps can adapt to handle varying numbers of expense reports without compromising on performance or accuracy. This scalability makes expense tracker apps suitable for startups as well as large enterprises.

A well-designed expense tracker app can positively impact employee satisfaction. Manual expense reporting can be a tedious and frustrating task for employees, often leading to delays in reimbursement and dissatisfaction.

By using expense tracker apps, employees can conveniently capture receipts and submit expense reports on the go. The automated reimbursement process ensures that they receive timely reimbursements, boosting morale and productivity.

An effective expense tracking software or app should offer robust expense reporting capabilities. It should allow employees to easily create and submit expense reports, detailing their business-related expenditures.

The app should support various expense types, such as travel, meals, accommodation, and miscellaneous expenses, allowing for comprehensive reporting and analysis. The ability to attach receipts and add notes to each expense entry enhances the accuracy and completeness of the reports.

With a well-designed expense reporting feature, businesses can streamline their expense management processes, reduce manual paperwork, and gain insights into their spending patterns.

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A user-friendly interface is crucial for an expense tracking app to ensure seamless navigation and ease of use. The app should be intuitive, requiring minimal training for employees to start using it efficiently.

A clean and well-organized interface will contribute to increased user adoption and overall satisfaction. The user-friendly design should include clear icons, logical menu structures, and intuitive input fields for expense data.

A visually appealing dashboard and simple navigation options enhance the user experience, allowing employees to manage their expenses effortlessly and saving time for finance teams during data processing.

A real-time transaction ledger is a valuable feature that enables employees and finance teams to track expenses as they occur. It provides instant visibility into expense transactions, allowing users to stay up-to-date with their spending and eliminating the need for manual data entry at a later stage.

With real-time updates, businesses can proactively manage their budgets, monitor cash flow, and identify potential overspending issues promptly. This feature empowers organizations to make data-driven decisions based on up-to-date financial information, improving financial planning and resource allocation.

A crucial aspect to seek in an expense tracker app is the provision of flexible expense categories and customization options. The app should offer pre-defined categories for common expenses, simplifying the process of expense classification.

Additionally, it should empower businesses to create and modify expense categories to suit their unique accounting needs and organizational structure. This flexibility allows companies to align the expense tracking process with their specific workflows and reporting requirements.

With customizable expense categories, employees can accurately categorize expenses, facilitating efficient data analysis, and enabling businesses to gain deeper insights into their spending patterns.

Mobile accessibility is an essential feature that top-notch expense tracking apps should possess. Being accessible on smartphones and tablets enables employees to manage expenses on the go, irrespective of their location, promoting real-time expense tracking and reporting.

A well-designed mobile app should be compatible with both iOS and Android devices, ensuring a consistent user experience across different platforms. Offline functionality is also vital, allowing users to record expenses even in areas with limited or no internet connectivity.

The app should automatically sync data once a connection is established, making expense tracking and reporting seamless and hassle-free for users.

A robust expense tracker app should offer data analytics and reporting functionalities. It should present expense data in a visually appealing and insightful manner, allowing businesses to identify spending trends, potential cost-saving opportunities, and areas of concern.

Comprehensive analytics empower companies to make data-driven decisions for better financial management. Key metrics such as average spend per employee, top spending categories, and expense trends over time should be easily accessible.

Customizable reports and dashboards enable users to drill down into specific expense details and gain valuable insights into their financial performance.

The security and fraud prevention aspects of an expense tracking app are of utmost importance in protecting financial data. A reputable app should implement strong encryption and data protection protocols to guarantee the confidentiality and integrity of sensitive information.

Moreover, the app should incorporate sophisticated fraud detection mechanisms, including anomaly detection and pattern analysis, to swiftly detect and thwart any fraudulent activities associated with expense reporting.

Stringent security measures not only inspire user confidence but also shield the organization from potential data breaches and financial harm, solidifying the app's reputation as a dependable and trustworthy tool for effective expense management.

Expense tracking apps should support customizable approval workflows to ensure compliance with the company's expense policies. By defining approval hierarchies and setting spending limits, the app streamlines the approval process, reducing delays and promoting adherence to spending guidelines.

Approvers should receive notifications when new expense reports require their attention, and they should be able to review and approve or reject expenses directly within the app.

Automated approval workflows eliminate manual follow-ups and ensure that expenses are promptly processed, enabling smooth expense management and reimbursement processes.

An exceptional expense tracking software or app should offer highly effective invoice and receipt management functionalities. This involves providing users with diverse receipt capture options, including scanning, email forwarding, or seamless integration with e-receipt systems.

By enabling such capabilities, the app ensures precise record-keeping and simplifies the retrieval process during audits or financial assessments.

Additionally, the app should allow users to attach electronic invoices and receipts directly to expense entries, eliminating the necessity for physical storage and minimizing the risk of misplacing crucial documents.

A well-structured repository for invoices and receipts streamlines expense tracking, enhances financial transparency, and facilitates smooth and effortless reporting.

A key benefit of expense tracking apps is timely reimbursement for employees. The app should support multiple reimbursement methods, such as direct deposit, online payment platforms, or integration with payroll systems, ensuring hassle-free and prompt reimbursements.

With reimbursement integration, approved expenses can be automatically processed for payment, reducing manual intervention and speeding up the reimbursement cycle. This feature enhances employee satisfaction, as they can receive reimbursements quickly and conveniently, encouraging compliance with the expense reporting process and fostering a positive expense culture within the organization.

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Seamless integration with accounting software is a vital feature to consider when selecting an expense tracking app. Integrating with popular accounting platforms like QuickBooks, Xero, or Sage streamlines the process of transferring expense data, reducing manual data entry, and mitigating the risk of errors.

The app should enable users to export expense data directly to their accounting software, ensuring consistency and accuracy between expense records and financial statements.

By facilitating seamless accounting integration, the app empowers finance teams to focus on high-value tasks, enhance financial reporting, and achieve greater efficiency in financial management.

For companies that issue corporate cards to employees, a valuable feature to look for in a business expense tracker app is corporate card sync. This integration allows the automatic syncing of corporate card transactions with the expense app, simplifying expense tracking and reconciliation.

Employees can easily link their corporate cards to the app, and transactions made using these cards are automatically imported into the app's expense log.

Corporate card sync reduces the effort required to manually enter corporate card expenses, improves accuracy, and ensures that all expenses are accounted for in a timely manner.

A noteworthy feature in expense tracker apps is bank account sync, enabling users to connect their bank accounts directly to the app. This integration automates the importation of transactions, enhancing accuracy and eliminating the need for manual entry.

With bank account sync, users can effortlessly view and categorize transactions from their bank accounts, simplifying expense reconciliation with banking statements. The feature ensures that all expenses, including those made outside of corporate cards, are captured comprehensively, delivering a holistic overview of spending activities.

By facilitating efficient financial tracking and reporting, bank account sync optimizes expense management processes.

To ensure adherence to company policies and industry regulations, the app should support customizable expense policies. The app can automatically flag non-compliant expenses and provide notifications to employees, streamlining the expense approval process and promoting policy compliance.

Customizable policy rules should include spending limits, permissible expense categories, and approval workflows.

By incorporating policy compliance checks into the expense tracking app, businesses can proactively prevent improper expense submissions, mitigate the risk of policy violations, and maintain financial integrity.

An effective expense tracking software should provide outstanding customer support and frequent updates. Responsive customer service enables users to swiftly address any concerns or inquiries regarding the app's features.

Furthermore, updates that focus on bug fixes, security enhancements, and the introduction of new functionalities are crucial for maintaining the app's performance and seamless operation.

Regular updates also showcase the developer's dedication to enhancing the user experience. Access to dependable customer support and timely updates is indispensable for businesses seeking to optimize the app's capabilities and ensure smooth expense management processes without interruptions.

The first and foremost criterion for selecting an expense tracker app is the budget. Businesses should determine their expense management needs and allocate a reasonable budget accordingly. While some expense tracking apps may offer advanced features and integrations, they might come with higher costs.

On the other hand, there are cost-effective solutions that provide essential features for small to medium-sized businesses. Striking the right balance between cost and functionality is crucial to ensure that the chosen app meets the business's requirements without overspending on unnecessary features.

A crucial aspect to consider is the versatility of the expense tracking software, both in terms of user-friendliness and its compatibility with various devices. The app should be easy to navigate, catering to users of all proficiency levels, thus reducing the learning curve.

Additionally, it should seamlessly function across different devices, including desktops, smartphones, and tablets. This ensures that employees can efficiently manage expenses regardless of their preferred platform, enhancing accessibility and convenience.

An essential factor in selecting an expense tracking app is its simplicity and user-friendliness. The app should feature an intuitive design, making it easy for employees to navigate and record expenses without the need for extensive training, it should be an easy expense tracking app.

Streamlined workflows, automated categorization, and straightforward reporting processes contribute to a smooth and efficient expense-tracking experience.

A user-friendly interface encourages widespread adoption among employees and minimizes the potential for errors or delays in the expense reporting process.

Businesses should opt for an expense-tracking app that caters to their current needs while having the potential to scale as the organization grows.

Scalability is essential to accommodate an increasing number of users, expense reports, and integrations with other business systems. An app that can handle the expanding needs of a growing enterprise ensures long-term cost-effectiveness and minimizes the need for future software migration or replacements.

Additionally, scalability allows businesses to maintain consistency in expense management processes as they expand their operations.

The smooth integration of an expense tracker app with essential business tools and software is crucial when making a selection. Integrating with accounting software like QuickBooks or Xero facilitates the seamless transfer of expense data, eliminating the need for manual data entry.

Additionally, integration with corporate card providers and payroll systems simplifies the expense reporting and reimbursement processes.

Moreover, integrating with e-receipt platforms and cloud storage solutions enhances receipt management and ensures thorough record-keeping. The app's capability to integrate with existing business systems enhances overall productivity, data accuracy, and ensures a cohesive expense management process.

Reliable and responsive customer service is a crucial criterion for selecting a business expense tracker app. Businesses should ensure that the app provider offers prompt support, including technical assistance, troubleshooting, and user training. Timely customer service minimizes downtime and disruptions in expense management processes.

Additionally, software updates and bug fixes should be regularly provided to ensure that the app remains secure, up-to-date, and compatible with evolving technologies. Positive customer feedback and testimonials can serve as indicators of a reputable app provider that prioritizes customer satisfaction.

Managing online payments and subscriptions can be easily sorted with Volopay virtual card. You can assign individual cards to employees, departments, vendors, and purposes. These cards have adjustable spending controls, and the managers can set the limits. 

Volopay physical cards are premium quality customizable cards that have proven best for traveling employees. These cards are installed with expenditure controls and payment trackers. 

Employees who make out-of-pocket expenses can simply scan the receipts and raise expense claim requests. The approvers would be notified and can immediately approve the request after checking all the details. All this happens in real-time. 

Volopay allows users to set up multi-level approvers (up to five tiers) and multiple permission policies on Volopay expense management software. Along with this, users get features like auto-decline rules, set request amount limits, and remote and instant approval facilities.

Volopay expense management software provides specific spending controls and expense policy enforcements which stop a company from overspending. The business gets the ability to set department-wise spending limits, company-wide spending policies, and controls.