What Are the Best Expense Management Apps for Businesses in 2021?

TL;DR

The top recommended expense management apps for businesses in 2021 include Build.com for accounts payable, Brex for corporate card benefits, Veeam for international wire transfers, Divi for project-based budgeting, and Expensify for employee reimbursements. Each app offers unique features that streamline various aspects of financial management, making them essential tools for modern businesses.

Transcript

hi i'm stephen with ledger gurus and with me i have i'm britta from ledger gurus and in this video we're going to talk about business apps we like for bills and expense management in 2021. okay britta you're our ap and expense management lead here at ledger gurus let's talk about some apps we like why don't you go and get us started with your first... Read More

Key Insights

• 👤 Build.com is recommended for accounts payable and bill pay, offering automation, great support, and user-friendliness.
• 😀 Brex stands out as a modern corporate card app with a user-friendly portal, better expense management, and integration with QuickBooks Online.
• 🤱 Veeam is reliable and affordable for international wire transfers, providing speed, convenience, and minimal fees.
• 🤑 Divi introduces a unique budget management paradigm, allocating money on a project basis and integrating seamlessly with QuickBooks.
• 🧾 Expensify simplifies employee reimbursements and expense management with receipt scanning, automated approvals, and accurate tracking.
• 😀 Consolidation in the market would be beneficial to combine the best functionalities of different apps.
• 😀 App developers should focus on improving and expanding their core features rather than trying to venture into different spaces.

Questions & Answers

Q: Why is Build.com recommended for accounts payable and bill pay?

Build.com is highly recommended due to its automation capabilities, excellent support, user-friendly interface, and compatibility with check writing and ACH transactions. It provides a seamless experience for managing accounts payable and bill payments.

Q: What sets Brex apart as a corporate card app?

Brex offers a modern corporate card experience with its user-friendly portal, better expense management features, integration with fintech apps like QuickBooks Online, and a competitive rewards program. It stands out from traditional bank cards that often lack updated portals and advanced features.

Q: What makes Veeam a top choice for international wires?

Veeam is preferred for international wires due to its reliability, affordability, and fast processing. It eliminates the need to visit a bank and offers a convenient portal experience with minimal fees and a decent approval workflow, making it reliable and efficient.

Q: How does Divi redefine budget management?

Divi introduces a unique budget management paradigm by allowing users to allocate money on a project basis rather than sticking to monthly limits. This feature is particularly beneficial for businesses that require project-based spending. With seamless integration with QuickBooks, Divi provides a powerful solution for budgeting and expense tracking.

Q: Why is Expensify a valuable tool for employee reimbursements?

Expensify excels in employee reimbursements and expense management. It offers a simple way for employees to scan receipts or take pictures, which are automatically sent to the right approvers for review. The data then syncs into the accounting software, ensuring accurate tracking and streamlined reimbursement processes.

Summary & Key Takeaways

• Build.com is highly recommended for accounts payable and bill pay due to its automation, great support, user-friendly interface, and compatibility with check writing and ACH.

• Brex offers a modern corporate card experience with a user-friendly portal, better expense management, integration with fintech apps like QuickBooks Online, and a competitive rewards program.

• Veeam is a reliable and affordable platform for international wires, offering fast processing, a seamless portal experience, minimal fees, and a decent approval workflow.

• Divi stands out for its advanced budget management paradigm, making it convenient for project-based spending and seamless integration with QuickBooks.

• Expensify excels in employee reimbursements and expense management, providing an easy way to scan receipts, automatic approvals, and accurate tracking synced with accounting software.