The 5 Best Expense Management Software Solutions of 2026

Real-time visibility prevents budget overruns before they impact cash flow, while automated processes eliminate manual errors and speed up month-end closes. Integrated corporate card programs reduce reimbursement burdens on employees while giving finance teams immediate expense visibility. It caters specifically to startups and offers features that can help manage costs, including no monthly fees and free ACH and wire transfers. Brex business account also provides integrated tools for expense tracking, budgeting, and cash flow forecasting, along with perks such as cash back on business expenses.

• More importantly, customers often write checks to your business entity rather than to you personally.
• Also, a lot of technology providers offer friends and family discounts, so be sure to hit up your network.
• The Brex Card offers much higher reward rates on category spending if you make it your one and only card for your business.
• A client dinner in Tokyo costs more than one in Manila, and platforms need different thresholds by location.
• The manager can then approve the report, or reject/send back any expenses that need clarification.
• Customization ensures the solution fits your processes rather than forcing you to change established workflows to accommodate software limitations.

Virtual and physical corporate cards

We’ll delve into what startup costs really are, how to prioritize each, and how to budget for them effectively. See how Scale AI uses Brex to save hundreds of hours a year on expense management, close the books in 5 fewer days, and https://ecommercefastlane.com/accounting-services-for-startups/ scale globally. DoorDash can pre-approve travel spending or stipends and enforce custom expense policies automatically. Critical to these workflows are safeguards preventing self-approval, a basic segregation of duties that regulators from the FDIC to ISACA have long emphasized. Even senior executives should not approve their own expenses, regardless of the amount.

Higher Credit Limits:

From legal fees to marketing, learn how to budget effectively, implement cost-saving strategies, and avoid common mistakes. Organizations such as the CFO Leadership Council or Financial Executives International (FEI) offer networking opportunities and often maintain directories of qualified professionals. These organizations frequently host events and conferences where you can meet potential candidates in person and learn about their approaches to financial leadership. Additionally, many fractional CFOs are members of local chambers of commerce or industry-specific associations, making these venues excellent networking opportunities.

Accelerate your expense management with Brex AI

Employee departures no longer require replacing physical cards or worrying about saved payment information on vendor websites. Access to virtual cards terminates immediately upon separation, while physical card collection often takes days or weeks. Employees can submit receipts through mobile apps, email, or even Slack, with optical character recognition technology automatically matching receipts to corresponding transactions. This approach aligns with IRS Publication 463 requirements for expense documentation while dramatically reducing administrative burden. The software reads the receipt, extracts vendor information, date, and amount, then matches it to the appropriate card transaction without human intervention.

• In 2023, startups are under pressure to demonstrate a path to profitability, especially in the early stages.
• Typically, engagement models range from 8 to 40 hours per month for early-stage or smaller companies, while more complex organizations might require 40 to 80 hours monthly.
• See how Brex’s direct model allowed us to build a banking solution that delivers the highest-returning, lowest-risk treasury product with same-hour liquidity.
• This unique feature gives you granular control over expenses while empowering employees to make necessary purchases without unnecessary approvals.
• While using the Mercury platform is free, some of its advanced features come with fees.

Brex Card for Startups Review

Multi-entity support allows finance teams to manage separate legal entities from a single platform while maintaining proper segregation for reporting and compliance. Cloud-based accounting solution QuickBooks Online is tailor toward small to medium-sized businesses. While it offers a ton of financial management features, Accounting Services for Startups: Strengthen Your Financial Management from basic bookkeeping to advanced reporting, QuickBooks also supports over 650 integrations, making it viable for most industries.