Top 10 Best Expense Management Software in India

Before automation, businesses struggled with lots of paperwork for managing expenses. Collecting receipts, keeping track of policies, and paying employees back on time was hard. This manual process took a lot of time, and mistakes often occurred, like lost receipts or entry errors.

However, the best expense management software has completely changed how businesses handle expenses. It has made tracking and managing expenses much more effortless. Employees can take pictures of receipts with their phones, and the software does the rest, like automatically organising the information. This saves time and reduces mistakes that can happen with manual paperwork.

This switch from paper to digital has made businesses more accurate and efficient in managing expenses. If you are looking to simplify expenses for your business, here’s a list of India’s top 10 best expense management software. These are known for satisfying customers across various criteria, including pricing, features, ease of use, value for money, customer service, and other important factors.

Leading 10 Expense Management Software in India

  1. itilite
  2. Expensify
  3. Zoho Expense
  4. SAP Concur
  5. QuickBooks
  6. Spendesk
  7. Fyle 
  8. Webexpenses
  9. Happay
  10. Keka

1. itilite

itilite stands out as one of the best expense management software, committed to accelerating your expense reimbursements by up to 5 times. With a remarkable focus on achieving 100% policy compliance, it ensures that your expenses align seamlessly with your organisation’s guidelines. 

Beyond simplifying the expense filing process, itilite empowers you to predict future expenditures, facilitating more effective budget planning.

What sets itilite apart is its hassle-free setup, enabling you to get started swiftly, along with 24/7 dedicated customer support, ensuring you have assistance whenever you need it.

Key Features of itilite 

  • Customisable Approval Workflows: Create custom workflows that fit your company’s needs and integrate expense policies to flag non-compliant expenses for review automatically.
  • Streamlined Expense Categories: Easily categorise expenses based on General Ledger (GL) categories, ensuring smooth integration of expense software with ERP systems.
  • Accelerated Reimbursements: Expedite expense reimbursement process with a one-click ACH payment system directly to employee bank accounts.
  • Seamless ERP Integration: Automate ERP updates effortlessly, simplifying the expense filing process and reducing manual data entry.
  • Receipt Digitisation: Empower employees with smart scanning and OCR technology for receipt digitisation, creating draft expenses for easy filing.
  • Card Compatibility: Utilise existing personal or corporate credit/debit cards from a wide range of bank options (over 10,000) supported by itilite.
  • Custom Reports: Schedule custom expense reports to your inbox or create custom dashboards to understand employee spending behavior better.
  • Mileage Tracking: Enable employees to file expenses based on the mileage rates you set up.

itilite Pricing

As the best expense management software, itilite has a straightforward pricing model of INR 150 per active user per month with no setup fee, monthly commitment, or hidden costs. Pay only when a user files an expense or submits an expense report.

2. Expensify

Expensify is renowned for its user-friendly interface and robust features and is one of the best expense management systems. It offers real-time expense tracking, receipt scanning, and policy enforcement. Its mobile app is highly rated, allowing users to easily capture receipts on the go.

Key Features of Expensify 

  • Receipt Scanning (SmartScan): Expensify allows users to scan and digitise receipts effortlessly for seamless expense tracking.
  • Policy Enforcement: It enforces spending policies to ensure compliance with company guidelines.
  • Integration Capabilities: Expensify offers integrations with various accounting and finance tools for streamlined financial management.
  • Smart Expense Reporting: Users can generate detailed, customisable expense reports quickly and efficiently.

3. Zoho Expense

Zoho Expense is one of the best expense management software. It offers automated expense reporting, multi-currency support, and good customer support.

Key Features of Zoho Expense 

  • Direct Feed Integration: Zoho Expense offers direct feed integration with VISA, Mastercard, and Amex, eliminating intermediaries and errors in corporate card data retrieval.
  • Mileage Tracking: Easily track mileage expenses with precision using Android or iPhones, seamlessly integrated into the employee expense management software.
  • CRM Integration: As one of the best expense management software, Zoho Expense integrates seamlessly with Zoho’s CRM, enhancing overall business efficiency and data cohesion.
  • Interactive User-Friendly Dashboard: Experience an engaging and user-friendly dashboard that provides a highly interactive interface for effortless navigation and insights.

4. SAP Concur

SAP Concur is the best expense management system for enterprise-level expense management. It excels in global expense management, travel booking, and compliance enforcement. 

Key Features of SAP Concur

  • Automated Expense Report Generation: Smart matching technology in Concur Expense automatically compiles expense reports by combining credit card charges, travel bookings, and e-receipts.
  • Visual Expense Tracking: Concur employee expense management software offers a visual tracking system, allowing employees to monitor the status of their expense reports as they move through the approval workflow.
  • Mobile Expense Management: With the SAP Concur mobile app, employees can access, add, and submit expenses anytime, anywhere, while managers can expedite review and approval on the go.

Suggested Read:
Seamless Travel Reimbursement for Corporate Travel Management

5. QuickBooks

While primarily known for accounting, QuickBooks Online also offers a capable expense management module. It’s a cost-effective solution for small businesses, offering mobile accessibility and seamless integration with accounting functions. 

Key Features of Quickbooks

  • Expense Tracking: Users can effortlessly record and categorise income and expenses, providing a clear overview of financial transactions for better financial management.
  • Deductible Tax Identification: QuickBooks helps users identify and maximise eligible tax deductions by categorising expenses and generating reports that simplify tax preparation.
  • Bills Management: QuickBooks spend management software allows users to enter and manage bills, ensuring timely payments to vendors and helping maintain healthy vendor relationships while staying on top of financial obligations.
  • Reports and Analytics: With robust reporting capabilities, QuickBooks provides insightful financial reports, empowering users to analyse business performance, make informed decisions, and plan for the future.
  • Sales Tax Tracking: QuickBooks allows you to select tax rates and add custom rates. After you set it up, it automatically tracks sales tax for you.

6. Spendesk

Spendesk is an intuitive and user-friendly expense management and budgeting software designed to simplify financial tracking and control for businesses.

Key Features of Spendesk

  • Virtual and Physical Payment Cards: The Spendesk expense management system provides employees with versatile virtual and physical payment cards, enabling seamless transactions for both online and in-person purchases. It also grants managers the ability to set and monitor spending limits and categories.
  • Expense Tracking and Approval: Employees can effortlessly track expenses and submit them for approval within the platform, with real-time tracking and comprehensive visibility into spending.
  • Budget and Spending Tracking: Spendesk provides robust tools to track budgets and spending across various departments and projects, enabling managers to monitor expenditures and identify potential issues or trends.

7. Fyle

Fyle stands as a contemporary expense management platform that offers a streamlined expense reporting process. Fyle’s ingenious auto-matching feature ensures automated reconciliation, contributing to quicker financial closings.

Key Features of Fyle

  • Expense Reporting: As one of the best expense management software, Fyle automates the expense reporting process, saving valuable hours each month and expediting financial book closures.
  • Expense Submission: Fyle offers flexible expense submissions via various platforms like Gmail, Slack, text messages, and more, providing an intuitive experience for employees.
  • AI-Powered Data Extraction: Benefit from AI-driven data extraction, rule-based categorisation, and GL coding for precise expense management.
  • ACH Reimbursements: Streamline employee reimbursements and ACH payments within Fyle with real-time tracking and automatic syncing of payment data with your accounting software.
  • Accounting Software Integration: It offers self-serve integrations with accounting software like QuickBooks Online, NetSuite, Sage Intacct, and Xero, enabling real-time synchronisation of expense data.

8. Webexpenses

Webexpenses is comprehensive expense management software that streamlines and automates the process of recording and monitoring expenses. Moreover, the platform provides additional solutions such as audits, invoice processing, and payments.

These can be seamlessly incorporated into the expense management system to bolster financial control and efficiency.

Key Features of Webexpenses

  • Expense Management: Webexpenses spend management software provides financial visibility with drag-and-drop reporting and seamless integration between the expense app and ERP.
  • Payments: Efficiently manage business payments and reconciliations online, ensuring quick reimbursements
  • Expense Auditing: Optimise your expense management through the WebExpenses Expense Audit, which adds extra layers of protection. Guarantee compliance, pinpoint errors, and unlock possibilities for tax reclaims—all within the confines of your company’s travel and expense policy.

9. Happay

Happay stands out as India’s pioneering GST-saving expense platform. It offers automated GST calculations that can save businesses up to 18% on travel and expense costs. This innovative solution ensures efficient expense management while maximising tax benefits, making it a game-changer for businesses navigating financial compliance in India.

Key Features of Happay

  • SmartAudit: Automatically audits and flags every violation in every expense report.
  • Xpendite: Transforms manual data capture by automatically capturing data at the source.
  • ApprovNow: Sends real-time alerts and notifications throughout the approval process.
  • Automatic GST Calculation: Simplifies tax compliance.
  • Robust Deviation Workflows: Allows the creation of approval workflows based on various criteria.
  • Multi-System Integrations: Seamlessly integrates with other systems.
  • Interactive Dashboards: Provides a 360-degree view of all travel and expense data.
  • Pre-Generated Reports: Offers detailed reports from day one.

10. Keka

Keka’s Expense Management Software simplifies the handling of employee expenses, ensuring seamless tracking, compliance, and timely reimbursements. 

Key Features of Keka

  • Mobile Receipt Scanning: Capture receipts effortlessly with AI-powered technology.
  • Spending Limits: Set and enforce expenditure rules to prevent overspending.
  • Customisable Policies: Configure expense policies based on geography, department, or employee level.
  • Mileage Tracking: Automatically track mileage linked to attendance records.
  • Payroll Integration: Seamlessly integrate expense reimbursements with payroll processes.
  • Cash Advances: Release and manage cash advances, adjusting balances in subsequent pay cycles.
  • Configurable Workflows: Customise approval processes based on expenditure thresholds and organisational needs.

Inbox for Tracking: Centralise expense requests and approvals for streamlined management.

Overall, the best expense management software help businesses:

  1. Improve Expense Tracking: Streamlines expense recording and categorisation for accurate financial management.
  2. Gain Real-Time Visibility: Provides instant access to expense data for better decision-making.
  3. Increase Policy Compliance: Enforces spending policies, reducing non-compliant expenses.
  4. Reduce Manual Work: Automates workflows, reducing administrative burden.
  5. Control Costs: Identifies cost-saving opportunities and prevents overspending.
  6. Get Deeper Spend Data: Generates detailed reports for better financial insights.
  7. Streamline Workflow: Automates approval processes, reducing delays in reimbursements.
  8. Integrate Processes and Systems: Provides an all-in-one platform for expense filing, expense tracking, reimbursement, effortless data transfer to accounting software, and more.

Find the Best Expense Management Software for India Businesses

Discover the top 10 expense management software systems that streamline your expense management procedures in India, providing distinctive features to address varied business requirements.

Among these, itilite is the ideal choice for small and medium-sized businesses (SMBs) seeking to embark on their expense management journey with minimal effort and maximum efficiency.

itilite is your go-to solution for seamlessly streamlining corporate travel management right from the get-go. Its user-friendly interface and intuitive features ensure a hassle-free implementation process. 

Book a demo today to understand how you can enhance your company’s financial health using itilite.

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itilite logo

Simplify your travel and expense management process!

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Simplify your travel and expense management process!

itilite logo

Simplify your travel and expense management process!

itilite logo