[ OFX Reviews ](https://www.g2.com/products/ofx/reviews) [ OFX Reviews ](https://www.g2.com/products/ofx/reviews) # OFX Features ##### ## Expense Reports (6) Ease of Creating Expense Reports Creation of expense reports takes little time and is intuitive for new users Bank / Credit Card Integration Can easily pull in receipts from all credit card statements Smart Categorization Automatically assigns categories/accounts based on past entries and credit card statements Digital Receipt Management Provides various methods to easily capture receipts digitally and can automatically parse receipts to create expenses report entries. Methods may include mobile photos, desktop drag and drop, etc. Currency Conversions Enables easy entry of expenses in other currencies and converts to expense report currency Credit Card Integration Integrates with corporate or personal credit cards (import or bi-directional) Show More ##### ## Travel Management (1) Advanced Integrations Allows advanced integrations to travel systems like Uber, airline ticketing systems, hotels, etc. Show More ##### ## Client Invoicing (2) Electronic Payments Accepts electronic payments from clients Project Accounting / Revenue Recognition Provides adequate reporting and/or can integrate to AP systems to recognize revenue appropriately Show More ##### ## Mobile (1) Receipt Capture Can easily capture receipts, parse receipts and convert/assign them to a report from mobile device Show More ##### ## Administration (5) Business Tool Integration Provides standard connectors for popular Finance, Payroll, HRMS and CRM systems Automated Reminders Sends automatic reminders to employees that have not completed expenses reports and/or timesheets Policy Compliance Management Enables administrators to create rules that enforce compliances of corporate time and expense policies User, Role, and Access Management Grant access to select data, features, objects, etc. based on the users, user role, groups, etc. PCI Regulation Compliant Complies with PCI security standards Show More ##### ## Platform (6) Reporting Access pre-built and custom reports and dashboards. APIs / Integration Application Programming Interface - Specification for how the application communicates with other software. API's typically enable integration of data, logic, objects, etc. with other software applications. Performance and Reliability Software is consistently available (uptime) and allows users to complete tasks quickly because they are not waiting for the software to respond to an action they took. Mobile User Support Allows software to be easily used on multiple mobile devices include phone and tablet devices. Embedded AI / Machine Learning Offers embedded AI/machine learning Complex Approval Workflow Provides workflow for complex approval structures Show More ##### ## Currencies (3) Portfolio - Foreign Exchange Allows users to choose which foreign currencies to manage Exchange Rate - Foreign Exchange Updates exchange rates for currencies (ideally in real time) Win/Loss - Foreign Exchange Tracks exchange rate fluctuations and their impact on transactions Show More ##### ## Transactions (6) Confirmation - Foreign Exchange Manage payment confirmations and link them to corresponding transactions Compliance - Foreign Exchange Ensure that transactions are compliant with financial laws and regulations Types Manage various transaction types such as cash collection or prepaid cards. Global Support multiple currencies, multiple countries, and multiple languages. Channels Provide features for money transfer online and on mobile devices. Fees Track and manage fees for different types of transactions. Show More ##### ## Setup (3) Data Consolidates procurement data from multiple systems such as ERP systems and supply chain suites. Approvals Define rules and workflows that managers can use to approve different kinds of spending. Alignment Align spending across various departments such as procurement and accounting. Show More ##### ## Performance (4) KPIs Provide standard spend KPIs that can be customized by users. Benchmarks Use historical spend data to create benchmarks per company or department. Forecasting Provide forecasts on future trends that may impact spending performance. Savings Identify savings opportunities per activity, department, or at the company level. Show More ##### ## Data Management (5) Consolidation Consolidate information from multiple sources or multiple entities Classification Classify information by category, supplier, or supplier External Sources Integrate with external sources for market intelligence Integration Integrates with ERP systems general ledgers for transfering of AP transaction data Cleaning Ability to cleanse and consolidate AP data Show More ##### ## Analytics (7) Benchmarking Provide benchmarking options for comparison with peers KPIs Include standard spending KPIs that can be customized Compliance Deliver reports for compliance purposes Errors Analysis that identifies errors in AP processes such as duplicate payments, anomalies, and fraud Due Dates Track invoices based on due dates to identify overdue payments Benchmarking Ability to compare AP automation metrics with other companies KPIs Monitor KPIs such as time to process an invoice or erroneous payments Show More ##### ## Compliance (3) Security Comply with security and privacy standards and regulations. Fraud Protection Include fraud protection features for all types of transactions. ID Verification Checks remitters' ID and information such as address at registration. Show More ##### ## Integration (6) Accounting Provide integration with accounting systems or deliver APIs for integration. Foreign Exchange Integrate with foreign exchange software for international transactions. AML & KYC Deliver features or accreditation or Anti-money laundering and Know your customer. Accounting Provide integration with accounting and financial management software Payment Integration Integrate with payment gateways and enterprise payments software ERP Deliver integrations with accounting modules of ERP systems Show More ##### ## Invoice Management (2) Capture Provide features to capture invoices such as import or scanning Repository Deliver a central repository of AP documents, such as POs and invoices Show More ##### ## Invoice Processing (4) Matching Ability to match AP invoices to POs, contracts, or payments Payments Identify incomplete or late supplier payments Workflows Include workflows for approvals and invoice processing Tax Compliance Comply with local and global tax regulations for collections Show More ##### ## Risk (3) Analysis Reduces future risks through root cause analysis and process improvement Identification Reduces frequency of errors, identifies risk and improves efficiency Scoring Scores suppliers and employees based on risk factors Show More ##### ## Recovery (4) Recoup Identifies and recoups funds and prevents errors from happening again Reporting Offers reporting to aid in minimizing future lost profits and process breakdown Historical payments Approve, reject, or query historical payment transactions to identify anomalies Overpayments Recover overpayments, duplicate payments, or unused credits from suppliers Show More ##### ## Audit (4) Filters Includes a library of audit-tested filters to identify AP outliers that are outside company policy Post Audits Conducts a post-audit analysis of large volumes of data to identify historical payment errors and automatically generate claims Overpayments Detects and prevents a wide range of overpayment errors Duplicates Detects and prevents a wide range of duplicate payments Show More ##### ## Fraud (3) Vendor Checks Enables automatic checks of new vendors being set up in the system to combat potential billing schemes Data Generation Generates comprehensive data needed to conduct a thorough investigation Monitoring Provides continuous, proactive fraud monitoring across multiple systems and data formats Show More ##### ## AP Data Processing (3) Workflows Constantly evaluate AP transactions to optimize workflows Transparency Improves management oversight by reconciling external data against internal transaction data Controls Strengthens process controls by using analysis to proactively reduce errors before they happen and detect fraud risk Show More ##### ## Card Management (5) Card Types Manage multiple types of cards such as physical and virtual, debit and credit, or prepaid. Card Controls Allow users to activate cards, define spend limits, or change PIN codes. Configuration Define how cards can be used: single use, multi use, online, POS Fulfillment Track card fulfillment information such as orders, inventory, and shipping Replacement Manage replacements of stolen ,damaged, and lost cards. Show More ##### ## Controls (5) Tokenization Protect card data using algorithmically generated numbers (also known as tokens). Security Comply with Payment Card Industry Data Security Standard (PCI DSS) Card Networks Provide integration with card networks such as Visa and Mastercard Integration Integrate with software such as accounting, expense management, or banking. APIs Deliver APIs for custom integrations and to exchange financial data with other applications. Show More ##### ## Payment Cards (3) One-time Virtual Online credit card number that can be instantly sent to employees and used for secure, one-time purchases Recurring Virtual Online credit card number that can be instantly sent to employees and used for secure, recurring payments, such as subscriptions or services Physical Physical credit cards used by employees for various expenses that allow management to monitor spending and budgets Show More ##### ## Reporting (4) Real time Report on spend transactions as they happen in real time Multiple Views Reports that allow the user to sort and filter by vendor, team, GL, department, etc. Export The ability to export reports in various formats, such as excel, CSV, and Google Sheets Budgets Report on and track spending against budgets Show More ##### ## Payments (4) Vendor Pay vendors through a dashboard or portal and maintain vendor payment information Recurring Manage and execute recurring payments, such as subscriptions, services, utilities, etc. Employee Reimbursements Reimburse an employee for all necessary expenditures or losses incurred by the employee within the employee's scope of employment ACH Allows for the electronic transfer of funds between banks Show More ##### ## Fraud & Risk Management (3) Notifications Real-time notifications for fraudulant and/or duplicate spending Unique Cards Individual, unique cards for each vendor to help manage duplicate and overpayments Controls Control spend limits, expiration dates, and lock and unlock stolen or lost cards Show More ##### ## Agentic AI - Spend Management (1) Proactive Assistance Anticipates needs and offers suggestions without prompting Show More ##### ## Agentic AI - Accounts Payable (AP) and Spend Analysis (1) Decision Making Makes informed choices based on available data and objectives Show More ##### ## Agentic AI - Remittance & Money Transfer (1) Cross-system Integration Works across multiple software systems or databases Show More ##### ## Agentic AI - Expense Management (2) Autonomous Task Execution Capability to perform complex tasks without constant human input Cross-system Integration Works across multiple software systems or databases Show More ##### ## Agentic AI - AP Automation (3) Autonomous Task Execution Capability to perform complex tasks without constant human input Proactive Assistance Anticipates needs and offers suggestions without prompting Decision Making Makes informed choices based on available data and objectives Show More ##### ## Generative AI - Expense Management (3) Image-to-Text Converts images into a textual description, identifying key elements. Text Generation Allows users to generate text based on a text prompt. Text Summarization Condenses long documents or text into a brief summary. Show More ## Top-Rated Alternatives [ ![Corpay Cross-Border](https://images.g2crowd.com/uploads/product/hd_favicon/e2c27ffd5bd5d439da3646140a311f34/corpay-cross-border.svg "Corpay Cross-Border") Corpay Cross-Border 4.5/5 (928) ](https://www.g2.com/products/corpay-cross-border/reviews) [ ![Corpay Complete](https://images.g2crowd.com/uploads/product/hd_favicon/f172a583fbe726bd73f2948ecd4924ae/corpay-complete.svg "Corpay Complete") Corpay Complete 4.6/5 (386) ](https://www.g2.com/products/corpay-complete/reviews) [ ![Ramp](https://images.g2crowd.com/uploads/product/hd_favicon/6a582a4fcd932a8ba3e2d4d73af44e65/ramp-financial-ramp.svg "Ramp") Ramp 4.8/5 (2,430) ](https://www.g2.com/products/ramp-financial-ramp/reviews) [ View All Alternatives ](https://www.g2.com/products/ofx/competitors/alternatives) ## Technology Glossary Features View full feature definition View definitions of the features and discover new technology terms. [View Glossary](/glossary) [Policy Compliance Management](/glossary/policy-compliance-management) Policy and compliance management is a process to centrally manage standards, policies, and internal control processes cross-mapped to external regulatory standards. Learn more about policy and compliance management best practices and the associated benefits. [API](/glossary/api-definition) An application programming interface (API) serves as a link between disparate software and allows for an exchange of information between them. Learn more about how APIs work, and why they are crucial for software development. [Mileage Tracking](/glossary/mileage-tracking) Mileage tracking is the process of maintaining a mileage log for reimbursement or tax deduction. See why accurate mileage tracking is crucial for individuals and companies alike. OFX Comparisons ![Product Avatar Image](https://images.g2crowd.com/uploads/product/image/small_square/small_square_fbee33f1d317951ab214d7ce4aa12508/remitly.jpg "Product Avatar Image") Remitly 3.7/5 (21) [ Compare Now ](https://www.g2.com/compare/ofx-vs-remitly) ![Product Avatar Image](https://images.g2crowd.com/uploads/product/image/small_square/small_square_7a755046b2bfd2487781ea3a69ca925e/corpay-cross-border.png "Product Avatar Image") Corpay Cross-Border 4.5/5 (931) [ Compare Now ](https://www.g2.com/compare/corpay-cross-border-vs-ofx) ##### Categories on G2 [ Expense Management ](https://www.g2.com/categories/expense-management)[ AP Automation ](https://www.g2.com/categories/ap-automation)[ Spend Management ](https://www.g2.com/categories/spend-management) [ Payment Card Issuance ](https://www.g2.com/categories/payment-card-issuance)[ Procurement Spend Analysis ](https://www.g2.com/categories/procurement-spend-analysis)[ Foreign Exchange ](https://www.g2.com/categories/foreign-exchange)[ Cross-border payments software ](https://www.g2.com/categories/cross-border-payments-software) Show More ##### Explore More [ Top tools for identifying and securing digital assets ](https://www.g2.com/discussions/top-tools-for-identifying-and-securing-digital-assets)[ Which presentation software offers the best design templates? ](https://www.g2.com/discussions/which-presentation-software-offers-the-best-design-templates)[ Top tools for fingerprint-based authentication ](https://www.g2.com/discussions/top-tools-for-fingerprint-based-authentication) [ Top-rated tools for automated bug detection ](https://www.g2.com/discussions/top-rated-tools-for-automated-bug-detection)[ Top platforms for blue-green and canary deployments ](https://www.g2.com/discussions/top-platforms-for-blue-green-and-canary-deployments)[ Pros and Cons Details ](https://www.g2.com/products/ofx/reviews?qs=pros-and-cons) Show More [ Top tools for identifying and securing digital assets ](https://www.g2.com/discussions/top-tools-for-identifying-and-securing-digital-assets)[ Which presentation software offers the best design templates? ](https://www.g2.com/discussions/which-presentation-software-offers-the-best-design-templates)[ Top tools for fingerprint-based authentication ](https://www.g2.com/discussions/top-tools-for-fingerprint-based-authentication) [ Top-rated tools for automated bug detection ](https://www.g2.com/discussions/top-rated-tools-for-automated-bug-detection)[ Top platforms for blue-green and canary deployments ](https://www.g2.com/discussions/top-platforms-for-blue-green-and-canary-deployments)[ Pros and Cons Details ](https://www.g2.com/products/ofx/reviews?qs=pros-and-cons)