5 best business expense management solutions
By Nathaniel Dalby on Small Business UK - Advice and Ideas for UK Small Businesses and SMEs
However, relying solely on your business bank account for everyday expenses can be risky – it’s easy to lose track of how much you have and how much you need, even for the most cautious of business owners.
That’s why businesses are increasingly choosing third-party expense management solutions, allowing you to easily maintain and manage an expenses account with just the tap of a button.
We’ve collected five of the best solutions you can find for your business in the UK today.
Wallester
Wallester prides itself on being an ‘all-in-one solution’ for business expenses, and with its wide range of features, it’s difficult to argue against this. Wallester makes business payments and expenses as simple as possible, with a three-step process:
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- Sign up
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- Set corporate cards
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- Control expenses in real time
Once you’ve created your free account, you can access up to 300 virtual cards instantly. And as soon as you start spending, you can monitor transactions in real time and approve purchase requests from employees, all through the app.
Wallestar also makes it easy to stay on top of accounting and reporting – you can upload invoices via the mobile app and generate detailed reports on corporate expenses.
The Premium account (£175 per month) includes 3,000 virtual cards, as well as accounting integrations and enhanced analytics.
At a glance
- Digital and physical corporate expense cards
- Easy expense control and payment approvals
- Real-time budget management
- Automated reporting and invoicing
- API for easy integration
Moss
Moss offers a comprehensive expenses management platform that’s designed to make everyday tasks a little bit easier.
Moss is modular, allowing you to build a custom package of products that you require, meaning you only pay for the features you need. The free plan allows up to three users and offers basic features. On the paid plan, users are unlimited, and you get advanced approval flows and budget controls, accounting integrations and other add-ons. Features include receipt capture, instant spend alerts, category breakdowns, and live budgets, so you always know who is spending and how cash is being spent.
Moss is also compatible with many of the most popular accounting, HR and SSO tools, featuring integration with Xero, QuickBooks, Sage, Bamboo and many more.
At a glance
- Virtual and physical corporate debit cards
- Flexible and modular pricing
- See real-time company spending with notifications
- Fully digital receipt capture process
- Configurable approval flows
- Integrated with Xero, QuickBooks and Sage
Pleo
Pleo is a spend management platform built to centralise business expenses and optimise financial workflows. Whether it’s paying with smart company cards, managing reimbursements, streamlining accounts payable, or automating expense reports, the platform empowers you and our team with full visibility and control.
Pleo offers seamless integrations with tools like Xero, QuickBooks, and Oracle NetSuite, and robust features like multi-entity management, custom spend controls, and real-time analytics.
At a glance
- Real-time expense tracking gives you instant visibility of company spend and the ability to ask team members for more info on purchases
- Offers smart physical, virtual, and vendor cards for secure, flexible spending
- Integrates with top business tools like Xero, NetSuite, and Microsoft Dynamics
- Claims to save finance teams 138 hours annually through automation and streamlined workflows
Tide
Tide likes to keep things simple. Its expense management system allows you to set up to 50 cards for your employees for £5 per seat (each seat includes 1 physical and five virtual cards), making it perfect for smaller businesses looking to expand.
The Tide app allows you to manage everything with just a tap, from freezing and cancelling cards to setting monthly spending limits and tracking company expenses. Ideal if you do a lot of business on the go.
Using the app, you can also upload receipts by taking a photo, which will automatically be matched to the relevant transaction and categorised appropriately. You can also add your own notes if you’d prefer to label your expenses manually.
At a glance
- Set Mastercard Tide Expense Cards for up to 50 employees
- Set spending limits in-app
- Scan and upload receipts from your phone
- Automatically categorised transactions
- Track your company’s expenses
Payhawk
Payhawk is an AI-powered expenses and financial management platform that gives you maximum control over company spend. You can issue physical and virtual debit and credit cards near instantly, and, with the easy-to-use dashboard, oversee your company spending either on a desktop or phone. With 1.5 million spending rules, you can customise each card by everything from spend category to time slots and more. Payhawk cards are great for small businesses that trade globally, with no exchange rate fees in 26 countries.
A standout feature of Payhawk is its compatibility with other types of business software, with native integrations and developer API. Payhawk users can connect automatically with services like Google Workspace, Bamboo HR, Microsoft Dynamics and Quickbooks.
At a glance
- 100% real-time visibility on spend
- Prevent overspending with custom approval flows
- Scan and log receipts with your phone
- Automate tedious tasks like data entry
- Native developer API integration
See also:
Inter-company loans: are there tax implications to consider?
What expenses can I claim through my business?
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