Spend Management Software

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Showing 1 - 20 of 77 products
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Showing 1 - 20 of 77 products

Bellwether PO and Inventory

Bellwether Purchasing Software is an on-premise and cloud-based purchasing and inventory management solution. Primary features include requisitions, approval routing, purchase order management, receiving, invoice matching, invento...Read more

4.74 (46 reviews)

ExpensePoint

ExpensePoint is a cloud-based solution designed to help small to large businesses automate employee expense reporting. It enables users to generate, submit, approve and process reports for multiple expenses on a unified platform. ...Read more

Kissflow Procurement Cloud

Kissflow Procurement Cloud is ideal for companies that are either transitioning from manual procurement management tools, implementing a solution for the first time, or replacing disparate point solutions. With Kissflow, businesse...Read more

4.27 (11 reviews)

COVALYZE

Tired of waiting weeks for supplier quotes? Tired of negotiating prices without competitive benchmarks? COVALYZE automates negotiations in way teams have never seen before. It keeps all global category data in one place, target pr...Read more

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Precoro

Precoro is a cloud-based purchasing software that streamlines procurement processes for SMBs and Enterprises. Key features include purchase order creation and delivery, blanket PO, visual analytics on spends by departments, billin...Read more

Order

Order (formerly Negotiatus) is a guided B2B marketplace with a mission to simplify buying for businesses. Order makes it easy for businesses to place and track purchases across all their vendors, control spend, and make payments i...Read more

4.39 (54 reviews)

7 recommendations

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AvidXchange

AvidXchange offers accounts payable software solutions and dedicated service teams that help automate your AP and payment process, replacing manual AP with a digital application suite that provides you with 24/7 on-demand, remote ...Read more

4.50 (56 reviews)

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TYASuite

Enterprise Resource Planning is a very effective tool to manage, control and optimize business processes. It helps in streamlining all the operations under one roof and helps in improving the overall productivity of the business. ...Read more

4.58 (12 reviews)

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Fraxion

Fraxion provides complete spend management solutions for purchase requisition-to-PO, expense and approval management, AP workflow management and spend analysis. The solution enables mobile purchase requisition-to-purchase order f...Read more

4.23 (43 reviews)

1 recommendations

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Ivalua

Ivalua, ALL Spend, ALL Suppliers, NO Compromises. Recognized as a Leader by Gartner & Forrester, Ivalua’s Source-to-Pay suite is leveraged by over 300 leading companies across the globe to manage over $500 Billion in direct and in...Read more

3.83 (6 reviews)

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Software pricing tips

Read our Spend Management Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

SnapAP

SnapAP provides AP teams with a complete Procure-To-Pay digitized workflow, from requisition to strategic payment management. The cloud-based application is immediately available in a mobile environment. SnapAP automation provides...Read more

4.44 (9 reviews)

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Digital Purchase Order

Digital Purchase Order is a cloud-based solution that enables businesses to create orders requests, approve expenditures and track the entire purchase history of products. It provides mobile applications for Android and iOS device...Read more

4.58 (59 reviews)

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Planergy

Planergy (previously PurchaseControl) is a cloud-based solution that helps businesses streamline the entire procurement lifecycle, from managing purchasing to receiving. It enables users to generate order requests via forms with p...Read more

4.60 (10 reviews)

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Tipalti Approve

Tipalti Approve is a cloud-based procurement solution fully integrated with NetSuite. Our software helps finance and procurement teams capture purchase requests, streamline approvals, generate purchase orders, organize vendor info...Read more

4.74 (19 reviews)

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Emburse Cards

Emburse Cards is a cloud-based corporate card solution, which helps businesses issue virtual and physical credit/debit cards, set spending rules and adjust budgets and policies in real-time. Features include role-based permissions...Read more

4.50 (42 reviews)

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Eved

Eved is a cloud-based spend management solution that helps businesses handle invoice processing, electronic payments and supplier information on a centralized platform. Supervisors can generate financial reports and filter data ba...Read more

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SAP Ariba

Focused on streamlining source-to-pay operational processes, SAP Ariba provides e-procurement and supply chain management solutions that enable growing, medium-sized, and large companies to achieve end-to-end digital transformatio...Read more

3.75 (28 reviews)

28 recommendations

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Emburse Abacus

Abacus is a cloud-based T&E solution that offers midsize teams a highly efficient way to track and control expenses, reimburse employees, and book travel. Employees use a mobile app to submit expenses right when they happen. ...Read more

4.38 (57 reviews)

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Asite

Construction management software designed to provide project teams in construction and engineering with access to key information regardless of location or device. The Asite Platform increases efficiency by enabling collaboratio...Read more

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Happay

Happay is a cloud-based expense management solution that helps medium to large businesses manage and track expenses. It uses AI and machine learning technologies to automate processes related to expense claims management, reimburs...Read more

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Popular Spend Management Software Comparisons

Buyers Guide

Last Updated: March 13, 2022

Smarter spending and increased savings are two goals shared by all companies, regardless of their size or industry. Spend management software helps companies take a big-picture view of their spending and identify opportunities to reduce procurement costs on services, raw materials, and supplies.

With so many spend management systems on the market, it can be hard to identify the product that's right for you. This buyers guide explains the features, benefits, and factors to consider when choosing a spend management software solution.

Here’s what we’ll cover:

What is spend management software?

Spend management software is a tool that helps businesses track, report, and manage their expenses quickly and conveniently. It provides a centralized source of expense data, integrating and automating all spend-related activities. The software helps control expenditures through rules and workflows for purchase and payment approval. Analyzing historical data identifies spending trends, which helps companies improve accounting and avoid overspending.

Common features of spend management software

While features vary from product to product, spend management software typically offers some or all of the following functionality:

Expense tracking Increase data visibility with real-time expense tracking. Reduce time spent on administrative work with automatic import of receipts, invoices, and other expenses.
Spend analysis Review expenditures to identify cost reduction opportunities, improve strategic sourcing, and reduce procurement costs. This feature consolidates procurement spending data in one location, eliminating the need for tedious spreadsheet and paper form management.
Budgeting and forecasting Analyze financial data to estimate future organizational trends, expenses, and revenues. Create budgets and forecasts to allocate resources for future business activities.
Procurement Organize and manage all processes and procedures involved in purchasing goods and services. Automate the procure-to-pay process to eliminate complex manual workflows while enhancing spend visibility and management.
Receipt management Capture and categorize receipts in a central database. Automating this task supports accurate expense calculations and categorizations.

What type of buyer are you?

Whether you're a growing startup, midsize, or established enterprise, the right spend management software will help you save time and money. Although tools and features are typically the same across industries, different organizations have unique priorities and requirements in finding the right solution. Most buyers fall into one of these categories:

Small businesses: Startups and small companies need a straightforward system to manage expenses. Look for a pay-as-you-go spend management system that offers basic features such as expense tracking, spend analysis, and receipt tracking.

Midsize businesses: Midsize organizations and growing businesses have increased expenditures that come with additional employees, customers, and vendors. Look for solutions that support complex functions such as spend control, procurement management, and forecasting. These tools will help predict future growth based on historical data.

Large businesses: Large organizations often have numerous departments, hundreds or thousands of employees, and complex spend processes. Enterprises benefit from systems that can handle multiple types of expenses, revenue, and currencies. Look for features such as approval workflows, spend control, and procurement management to effectively manage all supplier relationships and company purchasing.

Benefits and potential issues

Spend management solutions provide real-time visibility into company spending. Here are some of the key benefits that managing spend can bring to an organization.

  • Increase spend transparency and control: Track and report spend data across the company, eliminating departmental spending silos. A single, centralized spend management platform increases spend visibility and accountability.
  • Automate time-consuming and repetitive tasks: Better workflows and automation make it easier to manage the entire procure-to-pay cycle and they minimize the need for data entry with automated purchase order creation, invoice processing, and approval workflows. Workflows limit cycle times, eliminate duplicate payments and purchase requests, and reduce the risk of missed payments and other human errors.
  • Improve risk management and avoid needless expense: Expense tracking and spend analysis tools eliminate unnecessary purchases and simplify financial forecasting and reporting. These data insights help benchmark internal performance, discover cost-saving opportunities, and leverage trends in spend data.
  • Enhance supplier relationships; Understanding and improving supplier relationships can lead to lower prices, discounts, and additional savings opportunities. Supplier management also helps companies identify underperforming and non-compliant vendors, which protects the company against unwanted expenses.

Market trends to understand

Cloud-based spend management software enables remote and flexible work practices. The recent pandemic has increased the number of distributed teams and remote workers. Cloud solutions for spend management allow employees and stakeholders to access the system remotely, no matter the location.

Machine learning improves spend management processes. Machine learning algorithms automate data categorization, which eliminates the need for manual data input and increases visibility into spend. Machine learning can also find patterns in data, reduce forecast errors, and decrease financial risk. Budgeting and forecasting with machine learning helps companies identify profitable opportunities and avoid hidden risks.