Which expense app is right for your small business?
In our daily discussions with clients, we find that expense tracking management and reporting are a common headache for just about every small business. And we have found that nearly every CEO agrees that expense reports are a headache and not just for the accounting department — they’re a headache for general employees as well. Happily, no one needs to use archaic methods to track expenses anymore. There are many expense apps available to small and medium-size businesses. Let’s take a look at five options that may work for your small business.
It should be noted that all these applications do an effective job of tracking receipts and submitting reports on both iOS and Android devices. Across the board, employees photograph receipts and submit them on their mobile device so reports are collected in a timely fashion. You will probably find that one works best for your business because of the interface design or due to some minor detail that is well suited to your operations. Our goal is to define the ways that these apps are distinctive.
Visit Concur’s website and you quickly understand that it is an extensive system. Concur is compatible with iOS, Android, Windows and some BlackBerry devices. The app itself can do more than just track expenses; users can manage and curb expenses before they are incurred. Through its travel booking app, companies preapprove certain travel expenses and limit options (and cap prices) on reimbursable expenses.
The versatility of Concur’s software will please large corporations, but for small business, it may be a bit overwhelming. Because it has many options, Concur’s pricing structure is not clearly defined on its website. Its mobile app is $8 per user per month, but there are other fees associated with using the interface. You will need to contact the company for a specific quote.
Nexonia prides itself on its commitment to customer service. Setup is included with the price of the software, and extensive support is available at no extra cost. The company clearly defines its strengths and weaknesses in comparison with its competitors. Visually speaking, the interface is uncomplicated and straightforward. Nexonia is compatible with all major device brands. Nexonia also has many options, including brand customization. The company does not disclose pricing without a quote request. On GetApp, a software review site, other users say that small business plans start at $10 per month per user.
“Expense reports that don’t suck!” is Expensify’s tag line. With that tongue-in-cheek introduction, Expensify sets out to make expense reports relatable and straightforward. Expensify is compatible with iOS, Android, Windows and certain BlackBerry operating systems. Setup is free for subscribers. One distinction of Expensify is its small business pricing structure: For a simplified version of the system, the cost is only $5 per user per month. Corporate accounts can get enhanced features for $9 per user per month.
Tallie promotes itself as software “designed by CPAs for CPAs.” The software is easy to understand and is visually appealing. One strength of the app is its comprehensive reminder system. Tallie notifies employees to turn in unsubmitted expenses, notifies accounting staff when reports are submitted, and notifies any party if there are outstanding items. The app is not available for Windows or BlackBerry devices, and there is a fee for initial setup. Tallie’s pricing structure varies slightly from other apps — the fee is $9 per user per month but carries a minimum $50 monthly charge.
Certify is a clean, attractive application that markets itself as easy to use — almost fun. It is available for use on most devices, except for certain BlackBerry operating systems. Certify works well for small businesses, and its $8 per month per user charge places it on the lower end of the price spectrum. Certify was designed to work with the QuickBooks software but can be adapted to work with other accounting software, such as SAP, Oracle and Microsoft Dynamics.
Not sure where to begin? Start by checking your accounting platform to see which applications integrate best with it and work from there. Do not forget to investigate training options as well so you and your business will be well versed in how to best use the application you choose.