The 6 Top Expense Reimbursement Software Platforms

Manual Excel spreadsheets, delayed payouts, and lost receipts are so 2010. But why do so many organizations continue to use antiquated methods to track expense reimbursements?

Perhaps it’s a reactive approach to technological adoption, fear of the unknown, or a “that’s the way we’ve always done it” mentality. Whatever the reason, businesses are missing out on streamlined efficiency by doing expense reports and reimbursement the old-fashioned way.

However, like many aspects of the modern business world, more companies are turning to technology to improve operational efficiency. But none are more welcome than the addition of expense reimbursement platforms.

Still at the early stages of adoption among midsize and small businesses, the top expense reimbursement software platforms are changing the way businesses track employee spending, business expenses, stipends, perks, and more. From facilitating approval workflows to monitoring employee purchases, these software platforms offer comprehensive functionality and enterprise resource planning (ERP) solutions that easily surpass traditional bookkeeping and expense tracking.

Learn more about the top expense reimbursement software platforms, and which ones are the ideal selection for your spend management needs.

The Top 6 Expense Reimbursement Software Platforms

The reimbursement process is cumbersome at best, but if you’re willing to trade manual work for software solutions, you’ll find yourself on solid ground — with your employees happier and more engaged to boot.

Making the switch can eliminate several hassles associated with old-school expense tracking, including mistakes from manual data entry, inconsistent formats, company policies regarding expenses, and a lengthy approval process.

What To Look For in an Expense Management Platform

When you’re researching the top expense reimbursement software platforms, the most important aspect is to consider the features you want and how well each platform meets or exceeds those expectations. Some of the top features to contemplate include:

• Receipt capture: To streamline the receipt capture process, search for platforms that have AI-powered optical character recognition, or OCR. This receipt scanning technology converts photographed receipts into digitized, editable, and machine-readable text, instantly reducing manual expense data entry tasks.
• ERP and corporate credit card integration: Syncing with tools like QuickBooks, Xero, SAP, and NetSuite, as well as corporate card accounts, can provide automation of tasks, eliminate double entries and data errors, and connect ERPs, accounts payable/accounting software, and HR software seamlessly.
• Scalability: The best expense management software should scale to handle user growth and transaction volume without issue. For international businesses, platforms with multi-language OCR and multi-currency compatibility are a must.
• Analytics: At their core, expense policies and budgets are relatively straightforward, but being able to optimize your program is essential. The top expense reimbursement software platforms provide insights into spending patterns that enable forecasting, decision-making, and ultimately, better expense management solutions.
• All-in-one expense solutions: A strong expense management tool should combine ease of use, a navigable dashboard, a straightforward user experience, and categorization methods to track all types of employee expenses, whether for meals, mileage tracking, travel expenses, or general business needs.
• Nice-to-haves: You don’t necessarily need these features, but cloud-based information storage, user-friendly mobile apps, dynamic pricing, and real-time expense report tracking are a bonus.

Armed with an understanding of these features, let’s take a look at some of the top expense reimbursement platforms and what they have to offer.

1. Hoppier

Hoppier isn’t exactly a reimbursement platform, but it provides multiple solutions to streamline the expense management process. Trusted by over 1,200 companies, Hoppier expense reimbursement solutions center around automation, per-diem plans, and flexibility via a gift card system. In just minutes, users can set up spending programs and flexible workflows without developers.

Hoppier’s idea is to eliminate employee reimbursements altogether. Rather than employees paying out of pocket, navigating spending policy compliance, and waiting for expense approvals, users can start gift card programs that provide employees with the funds they need in over 60 countries.

Once a user starts a program, they can create a name, add a company logo, and set a color scheme. Select a dollar amount on each card, a start date, and an expiration date, so you’re in total control.

Then, choose from a list of thousands of vendors where your employees can spend the card, or use it as a Visa card they can use anywhere. Finally, upload a CSV file of your employees’ email addresses into the program and send your gift cards digitally.

After your employees have their gift cards, tweak the business spending controls, access real-time visibility tools to track spending and expense-related financial data, automate your per diems and stipends, and stay audit-ready — all in Hoppier’s user-friendly dashboard.

2. Expensify

With 10 million users ranging from startups to corporate giants, Expensify is the most popular spend management platform on the planet. While the company boasts several spending and expense tools, it also has a streamlined expense reimbursement tool that makes the process quick and easy.

Whether you’re using an accountable or nonaccountable plan, you can create a reimbursement program in just a few steps. Set up expense report guidelines that outline what expenses are reimbursable — such as travel booking, home office upgrades, and more — and how repayments are structured.

Employees can submit receipts and expenses via email or the Expensify mobile app, which are automatically approved by the app based on the guidelines you input. Through a linked bank account, employees then receive the funds within a matter of days.

Expensify also integrates with some of the most popular accounting systems, creating an all-in-one spend management solution — complete with AI-powered customer support.

3. Zoho Expense

Zoho Expense is an easy way to track, manage, and control employee expenses with end-to-end automation. But what this option does better than the rest is its convenience and mobility. With the Zoho Expense mobile app, employees can autoscan their receipts, record their mileage instantly, and generate expense reports on demand. Employers can use the app to automate or tweak regional per diems, split expenses, categorize spending, and get up-to-the-minute exchange rates.

Once employees submit their expense reports, employers can use Zoho Expense to automatically send ACH payments to employee bank accounts and sync settlements with ERPs and payroll.

If you’re searching for a mobile-first platform, Zoho Expense is one of the top expense reimbursement software platforms.

4. Emburse

With the ability to decrease expense report processing time by up to 90%, Emburse is a game-changer for in-house time management and reimbursement.

The most heralded aspect of Emburse is its support and training, which is especially important for onboarding and teaching new users. Emburse creates and delivers training to keep users up-to-date on current and emerging features, which is part of the reason the company claims to boost processing at such a large clip.

Emburse has a mobile app that’s ideal for expense reporting on the go, adaptable expense policies to keep your employees informed, fast expense reimbursement via ACH payments, expense request reconciliation from any device. Plus, it offers both digital and physical cards to suit your needs.

While Emburse’s suite of features is comparable to Expensify and Zoho, its generative AI model for finance teams has been proven to eliminate busywork and boost reporting accuracy. This can free up time for these workers to focus on other aspects of the business — an upside no matter how you look at it.

5. Brex

Another major entrant in the spend management world, Brex is another viable option that has similar offerings to Zoho, Expensify, and Emburse, albeit with some other nice features.

On top of expense reporting, Brex offers numerous other handy features synonymous with the online banking, travel, and fintech industries, including corporate spending cards, business banking, bill pay, and global travel management. Brex was also created with the end-user in mind, providing platforms for startups, mid-size companies, and enterprises.

Regardless of which subscription you have, you can approve, automate, and reimburse expenses quickly and easily — albeit without instantaneous automation. Just invite employees to submit their expense reports, ensure the expenses are reimbursable, and send a single ACH payment, regardless of how many purchases each employee makes in a given period.

6. Ramp

Built directly into your corporate credit cards, Ramp’s expense management tools are designed to make reporting and payments as easy as possible. What makes Ramp one of the top expense reimbursement software platforms is that it has comprehensive policies to keep out-of-policy spending in check.

Through Ramp’s platform, users can build customized budgets for responsible spending, auto-enforce controls and report submissions, and keep any and all travel expenses in check.

Ramp also matches uploaded receipts through text messaging, the Ramp app, and integrations with numerous apps, including Lyft, Gmail, and others. Once you have all your expenses recorded, make strategic decisions with Ramp’s real-time expense reporting to eliminate overspend, uncover cost savings, and maximize visibility.

Streamline Your Spend Management

Expense management systems may not be at the top of your priority list, but with a top expense reimbursement software platform, it’s certainly not a burden. Compare your options, considering how well they integrate with your existing software and the key features you require. With a bit of research and some trial-and-error, you’ll find the best provider for all your expense tracking and reimbursement needs.