Vendors usually offer integration with travel management software, ERP systems, and accounting software.Įxpense management software can be part of travel and expense solutions, either as a separate module or delivered as a package that can only be bought and used as one system. This type of software focuses exclusively on managing expenses and provides little or no functionality for travel management. Standalone expense management software exists separately from other systems. These systems can be used to consolidate expense management data but aren’t a good option for expense approvals, tracking, and monitoring. Some accounting software and ERP systems include basic features for expense management, which are usually insufficient for companies with many mobile employees. What Types of Expense Management Software Exist? This type of software shares some similarities with spend management-which plans and monitors procurement expenses such as raw materials, business services, or investments.Įmployees can manage expenses in multiple ways, from receipt scanning mobile apps to enterprise software that covers travel policies, approvals, expense tracking, and travel cost management.

Expense management software refers to solutions that process, pay, and audit employee-initiated expenses, such as flights, car rental, lodging, meals, laundry, business calls, and shipping of work-related items.

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