Best Spend Management Software

Spend management software tracks and manages business expenses such as the cost of raw materials and components, or services such as transportation. This type of software helps companies avoid overspending and account for business expenses, ensuring they are accurately reflected in financial statements. Spend management software is used mostly by procurement departments to plan and monitor business expenses, but can also be used by accountants for financial reporting purposes.

This type of software should not be confused with expense management software, which focuses exclusively on employee expenses. Spend management integrates with procurement software and supply chain solutions such as supply chain planning software and sales & ops planning software.

To qualify for inclusion in the Spend Management category, a product must:

  • Provide a centralized repository of procurement and purchasing data
  • Include rules and workflows to approve purchases and payments
  • Compare procurement budgets with actual spending
  • Analyze historical data and identify changes and trends in spending
  • Deliver suggestions for savings by product, supplier, or department
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    Procurify
    (14)4.5 out of 5
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    Procurify is the best in class Spend Management Platform. Control, track and report your company’s spend. Robust request to approve functionality, purchase order management and authentication of deliveries all in one place. Purchasing in Real-Time Create, Track, and Report all your Requisitions, Purchase Orders, and Expenses in Real-Time, at the office or on the go. Control Spending As it Happens Be proactive instead of reactive. Accurately stay on top of your budgets before making decisions with instant analytic reports. Streamlined Purchasing Platform Request, Approve, Purchase, online, on your phone, from anywhere, instantly. Procurify makes procurement fun! Additionally, we include budget management tools, tracking & reporting tools, free training, easy integrations, free mobile companion app.

    Precoro is a robust procure-to-pay system for your business. Automated purchasing, simple sourcing and spend analytics — all in one easy-to-use platform. Procurement Software Contains all functionality that helps to automate sourcing, inventory, catalogs and contracts management. Keeps suppliers’ relationships simple. Purchase Order Software Automates creating purchase orders, transmitting POs to suppliers, reconciling supplier invoices to POs and contracts, managing Purchase Requests. All in one place. Spend Management Assign orders to budgets to control spending within cost centers. Real-time reports and custom approval workflow puts you in control.

    Cloud-based solutions for collaborative spend, finance, and sales management. ERP and CRM systems are great, but they don't do much to improve interactions between businesses. For all your investments in technology, your B2B transactions are still managed with a fragmented array of applications and manual processes. Blocking your view, keeping costs and risks high, and hobbling your competitiveness. You need technology that makes trading partner collaboration easier and more efficient. Because in a volatile global marketplace where businesses rise and fall every day, sustainable competitive advantage requires strong, mutually beneficial relationships. Ariba makes that easy. With just your web browser and a user-friendly interface, you can work with your trading partners using market-leading SaaS solutions for spend management, collaborative finance management, and sales acceleration management all integrated on a single platform. These solutions are available by subscription and on-demand, so there's no software to install or maintain. They're scalable, cost-effective, and burden-free. They're also easily integrated with your ERP and back office systems. All it takes to extend your processes to more trading partners is plugging into the Cloud. And no worries, Ariba systems are thoroughly tested to ensure continuous, secure, and reliable service delivery. You can be up and running in no time, using the industry's most complete platform to efficiently and effectively locate, communicate, and collaborate with your trading partners. Commerce is simply better with Ariba technology, whether you're looking to drive sales, control spending, or manage cash.

    ProcurementExpress.com provides an instant view of the budget and the ability to sign off on purchase orders right away, even while on the road. It’s also super mobile-friendly so that you don’t even have to login or remember a password. In fact, you can approve POs right from your inbox. It’s so simple that even a technophobe can use it. ProcurementExpress.com also allows your team to get approval for purchases right away, rather than waiting several days for the manager to be back in the office. And when the manager is no longer the bottleneck, projects get completed faster. Your accounting team also gets a complete and accurate record of purchases. The data can be downloaded at any time, and is compatible with your accounting software. We’d love to show you how painless and efficient PO systems can be. Check out our free trial--the first 14 days are on us!

    Vroozi is 100% cloud-based, mobile-friendly purchasing software. This means employees can search, request, approve, and order items and services on any device. With Vroozi, companies can easily create a marketplace; automate requests, approval, and orders; transmit orders to suppliers electronically; and analyze spend to make informed business decisions. Vroozi also helps you manage all documents (Purchase Orders, Goods Receipts, and Invoices) in one place. 3-way matching between these documents ensure accurate payments and savings. Most enterprise companies have negotiated pricing with suppliers, but employees don’t know about those contracts or how to comply because the contracted items are not visible to them. That’s why enterprises need a catalog marketplace like Vroozi, where they can create an internal marketplace for their employees to find everything they need and still purchase within corporate policy. We help move rapidly-growing companies from paper requests and non-approval orders, to ordering online with proper approval from managers and tracking of all orders in one place. Finance people love us because now they have visibility into their cash flow and can assign budget accordingly. We help them minimize surprises at the end of the month. In fact, they don’t necessarily need negotiated suppliers. Our platform is pre-integrated with Amazon Business and a few other suppliers, which provide hundreds of millions of items across different categories.

    Airbase is the first all-in-one spend management platform that provides companies control and visibility into every dollar spent. The Airbase platform handles expense requests, approvals, bill payments (physical cards, virtual cards, ACH, check), and automates coding and posting to the general ledger. Learn more about why innovative companies like Gusto, Segment, Doximity, Getaround, Netlify, and more trust Airbase at www.airbase.io.

    SMART by GEP is a unified source-to-pay (S2P) procurement software that brings end-to-end procurement functionality for both direct and indirect spend management into a single, cloud-native platform. It features a comprehensive range of procurement tools built into one unified procurement system; eliminating the need for separate, stand-alone software, modules, or tools for managing specific functions. SMART by GEP helps streamline the end-to-end procurement process, accelerating digital transformation, elevating your procurement team’s performance to a whole new level, and enhancing its strategic reach and impact on the business. By unifying the complete range of procurement software functionality into a single platform, SMART by GEP becomes the single global procurement solution for all users — delivering incisive procurement analysis and decisive insights to the CPO, full category-wide control to sourcing managers, and immediately-available catalogs and “consumerized” ordering to buyers. Features of the SMART by GEP Unified Procurement System: AMAZING USER EXPERIENCE Amazing user experience that drives adoption, usage and results DIRECT & INDIRECT Comprehensive procurement platform in a single, unified digital workspace NATIVE TO CLOUD Unrivaled performance, scalability and security ARTIFICIAL INTELLIGENCE Intelligent automation for greater throughput, efficiency and accuracy UNIFIED DIGITAL PLATFORM From source to pay, plan to produce – single code base for optimal performance EASY INTEGRATION Seamless, hassle-free integration with all ERP, F&A and back-end systems DRIVES DIGITAL TRANSFORMATION AI-powered, data-centric open platform fast-tracks digital transformation

    With Coupa Spend Analysis, you get a single lens for all your spend. Use AI-powered insights to benchmark performance and get suggestions on how to get to the next level.

    Fraxion's cloud-based platform provides complete operating expense control, systematic policy compliance, risk management and spend analysis. Drive process efficiency through automation and Fraxion's user friendly interface and mobility. From Procurement, Expense Claims, Travel, Capex, Catalogues, PO's, Invoicing to Payments, Fraxion's cloud Spend Management suite streamlines the way you request items, authorise costs and pay for goods. Simplify Spend Management with Fraxion.

    Resolvr empowers asset managers and fund administrators at family offices, banks, hedge funds, and private equity firms.

    Accrualify's Spend Management Platform helps corporate finance teams automate and manage their full AP process. Purchase Orders: Open the platform to all your employees so they can easily create purchase order requests. With customizable approval workflows, all PO requests are automatically sent to all required approvers. Accruals: Automate accrual estimate requests to vendors and have vendors input all estimate data for your admins. Invoices: Easily collect invoices from your vendors and have all invoices automatically go through your defined approval workflow. Payments: Quickly and easily pay vendor invoices with domestic ACH and internationally through our platform. Payments also qualify to go through a customized approval workflow. Additionally, if you have vendors that don't accept ACH payments, our platform will automatically cut paper checks for you as well. Budgets: Share budget and spend information with department heads, subsidiary leaders, and others to create a more transparent financial view for decision makers. Vendor Management: Make vendor management and on-boarding simplified with our Vendor Portal. Vendors input all required information, including key contact information, W-9s, payment details, and more, taking the burden off of your AP clerks. ERP Sync: All Accrualify products sync with all tier-1 ERP systems and most tier-2 systems. With our auto-syncing, your admins reduce time spent on inputing duplicative data.

    Targets to deliver greater operating efficiencies and make cost savings within your organisation can appear daunting.

    CenterCard™ Visa® Business Debit Cards come with Center's Connected Spend Management Software, which links budget and spend information so everyone on your team can make more strategic decisions and get the most out of every dollar.

    Claritum’s cloud spend management platform enables many of the world’s largest enterprises, leading businesses and fast-growing service providers to gain granular visibility and control of every transaction, globally and in real time. Over 150,000 users in 35 countries rely on Claritum to deliver significant, measurable and sustainable savings from their expenditure on marketing & operational print, promotional products, uniforms & apparel, packaging, IT & consumables and related services. Key Capabilities • Sourcing • Supplier Management • Catalog • Procurement • Invoicing • Reporting Visit www.claritum.com

    InstaSupply is spend control as a service designed to avoid fraud, control spend and deliver valuable business intelligence through AI technology.

    THE PROCUREMENT EMPOWERMENT PLATFORM Ivalua’s Platform is uniquely designed for agility, performance, and scale. Built on a single code base and data model leveraging a configurable cloud infrastructure it fundamentally alters what Procurement & Supply Chain leaders can achieve. Unmatched flexibility -Best-in-class is not one-size-fits-all. -Easy configuration is a core principle of the Ivalua platform. -Meet your users’ needs, from custom UI and workflows to new forms and fields. -Collaborate with suppliers and other stakeholders by tailoring processes to their needs. Welcome to the Configurable Cloud The Ivalua Platform is built on a configurable cloud. An industry leading cloud environment that allows you to scale up or down and be assured of the highest security and performance standards, no matter where or what device.

    Sievo Spend Analysis turns any heterogeneous source data into tangible opportunities and more business value.

    SpendControl is a comprehensive software designed to provide a platform for significant cost savings through automated procurement analytics and spend management.

    SpendControl is a comprehensive software designed to provide a platform for significant cost savings through automated procurement analytics and spend management.

    SutiSoft spend management platform helps organizations control costs by providing enterprise-wide visibility over spend area.

    The smarter way to see, measure and control your company spend.

    Zycus is a leading global provider of procurement solution suites across the Source-to-Pay cycle. Our product portfolio includes applications for strategic and operational procurement functions, such as eProcurement, eInvoicing, Spend Analysis, eSourcing, Contract Management, Supplier Management, Financial Savings Management, Project Management, and Request Management. Zycus' Spend Analysis solution offers the most comprehensive, detailed, accurate and consistent spend visibility into your organization-wide spend.