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 it. Wallester makes business payments and expenses as simple as possible, with a three-step process:  

1. Sign up

2. Set corporate cards

3. Control expenses in real time

Visa cards can be issued both digitally and physically, meaning they can be ready to use immediately if required. Once these are issued, you can monitor transactions in real time and approve purchase requests from employees, all through the app.

Accounting and reporting are also made easy, allowing you to upload invoices via the mobile app and generate detailed reports on corporate expenses.

Wallester really excels in how fast you can get set up and start issuing cards, making it ideal if you’re a business owner on the go or have employees working remotely or travelling.

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

Airwallex

Airwallex’s no-nonsense approach to business expense management makes it one of the most trusted and secure options on the market. Whether you’re a small business with a few employees or a scale-up with whole teams to manage, Airwallex has plenty of options for you.

It’s expense management software works seamlessly between the app and desktop version, meaning you can control your team’s finances wherever you are. Your employees can submit expenses on the go while you get real-time visibility of their spending, making managing risk easier.

Users can also eliminate manual data entry with the help of Airwallex’s AI tools, which analyses invoices and receipts and automatically extracts the data.

At a glance

• Dedicated account managers

• Multi-currency transactions

• Instant business debit cards with no hidden fees

• Set spending limits and controls and instantly freeze cards

• AI-supported invoice data extraction 

Moss

Moss offers a comprehensive expenses management platform that’s designed to make everyday tasks a little bit easier. From the standard online Moss Starter platform (which includes access to the app and unlimited virtual cards), users can build a custom package to include corporate cards, employee reimbursements and more.

This flexible pricing method means that almost any business, big or small, can utilise Moss’s tools. The platform’s receipt management software allows managers and owners to easily capture and manage employee receipts either through the app or via email (with integrations such as Gmail and Outlook).

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 debit cards

• Flexible and modular pricing

• See real-time company spending with notifications

• Upload and receive receipts remotely

• Integrated with Xero, QuickBooks and Sage

Tide

Tide likes to keep things simple. Its expenses management system allows you to set up to 50 cards for your employees, making it perfect for smaller businesses looking to expand, or if you only employ a few people and don’t require a huge number of options.

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 specializes in scale-up and mid-sized companies, with an easy-to-use dashboard that allows you to oversee your company spending either on a desktop or phone.

Payhawk boasts that users experience a 50 per cent reduction in manual workload and a faster month end close. Its corporate Visa debit cards work in 7 currencies across over 32 countries, with businesses able to track spending with automated receipt collection.

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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