Top 9 Expense Management Software in India

In the fast-evolving business landscape, managing expenses effectively has become a cornerstone for success. Expense management is the process of tracking, analyzing, and optimizing a business’s spending to ensure financial stability and operational efficiency. It encompasses everything from employee reimbursements to vendor payments and project-specific costs.

Broadly, expense management can be categorized into three types:

1. Employee Expense Management – Managing travel, meals, and other reimbursements.
2. Vendor Expense Management – Handling payments to suppliers and service providers.
3. Project Expense Management – Monitoring costs tied to specific projects or campaigns.

The importance of having a streamlined expense management system cannot be overstated. Manual methods are not only time-consuming but also prone to errors, leading to compliance risks and unnecessary costs. This is where modern expense management software steps in, offering automation, real-time tracking, and advanced reporting to help businesses stay on top of their finances.

In this blog, we explore the top expense management software in India, breaking down their features, benefits, and how they can transform your financial processes for the better. Let’s dive in!

Essential features of expense management software for Indian businesses:

• GST Compliance: Automates GST calculations, ITC tracking, and GSTR filings to ensure seamless tax management.
• Localized Tax Support: Handles TDS deductions, tax categorization, and adherence to Indian financial regulations.
• Customizable Categories: Allows businesses to create expense categories tailored to their specific needs for better organization.
• Expense Tracking in INR: Tracks expenses in Indian Rupees with support for multi-currency transactions.
• Mobile Accessibility: Enables employees to log expenses, upload receipts, and get approvals anytime, anywhere.
• Automated Data Entry: Scans and digitizes receipts with OCR technology, reducing manual work and errors.
• Role-Based Access and Approvals: Implements multi-level approval workflows with access controls for efficient management.
• Employee Reimbursement Management: Simplifies reimbursement workflows with faster claims processing and transparent tracking.
• Integration with Indian Payment Systems: Supports UPI, Paytm, NEFT, and other local payment gateways for quicker transactions.
• Real-Time Reporting and Analytics: Provides insights into expense trends, spending patterns, and budgets for better decision-making.
• Cloud-Based Storage: Stores all receipts, invoices, and records securely for easy access and retrieval.
• Multi-Language Support: Offers interfaces in regional Indian languages for improved usability by diverse teams.

1. Refrens

Refrens is a comprehensive, cloud-based expense management platform trusted by over 1.5 lakh businesses across 170+ countries. It simplifies GST-compliant expense tracking, reimbursement processes, and financial reporting. With robust integration options. Its user-friendly interface and automated workflows save time while ensuring accuracy. Refrens’ mobile accessibility empowers businesses to manage expenses on the go with ease.

Key Features:

• Comprehensive Expense Recording: Easily record and categorize all business purchases and expenses, ensuring accurate financial tracking.
• Monitoring Employee Salaries: Efficiently track and update employee salary payments with detailed status reports.
• Simplified Reimbursements: Streamline the process of tracking, approving, and paying employee reimbursement claims.
• Bulk Upload Management: Streamline data entry with bulk upload capabilities, allowing you to import large volumes of information, such as expenses, in a single step. 
• Vendor Management: Maintain a detailed database of vendors and manage vendor-specific expenses with ease.
• GST-Compliant Tracking: Manage GST-related expenses seamlessly, with reverse charge applicability where needed.
• Audit Trails: Track and review all changes made to invoices by team members for improved accountability and transparency.
• Automated Payment Reminders: Set reminders for due payments to avoid missed deadlines and maintain strong vendor relationships.
• Integrated Accounting: Automatically pass journal entries, create vouchers, and update ledgers based on your expenses and other accounting documents.
• Advanced Reporting and Analytics: Generate detailed and customizable financial reports, including GSTR-1, GSTR-2B, and purchase and expense summaries. Gain valuable insights into income, expenses, and financial trends to support better budget management and informed decision-making.
• Multi Business Management: Effortlessly manage multiple businesses from one platform, streamlining operations and performance tracking. 
• Multi-User Support: Manage multiple users with role-based access, ensuring secure collaboration across teams.
• Third-Party Integrations: Boost productivity by integrating with platforms like WhatsApp, Shopify, and Facebook, streamlining communication and workflows.

Additional Features: 

Refrens streamlines operations with features like one-click e-invoicing, e-way bill generation, recurring invoicing, and multi-currency support. It also offers automated Invoice APIs, real-time inventory tracking, and a powerful Sales CRM for seamless client and lead management.

Pricing:

• Basic Plan: Free 
• Accounts Lite: ₹4,700/year 
• Accounts GST: ₹9,500/year 
• Accounts: ₹12,000/year

User Reviews:

2. Zoho Expenses

Zoho Expense simplifies expense and travel management for businesses of all sizes. It automates expense reporting, travel bookings, and reimbursements, saving time and reducing errors. With seamless integrations, policy enforcement, and advanced analytics, Zoho Expense helps businesses control spending. Its mobile apps and customizable workflows make it easy to manage expenses. 

Key Features:

• Travel Management: Handle business trips effortlessly with features like booking tools, fare lock-ins, visa requests, and multi-level travel approvals.
• Automated Expense Reporting: Simplify reporting with features like receipt auto scan, automated expense creation, and streamlined approvals for faster reimbursements.
• Corporate Card Integration: Integrate and reconcile corporate cards seamlessly, ensuring real-time tracking and reduced manual effort.
• Mileage Tracking: Track mileage expenses accurately using multiple methods and ensure compliance with company policies.
• Purchase Approvals: Enable employees to create purchase requests with pre-configured workflows for better control and budget compliance.
• Fraud Detection and Compliance: Use AI-powered insights to identify policy violations and ensure compliance with country-specific tax laws.
• Budget Oversight: Set up budgets by department or category, compare actual spending, and manage expenses efficiently.
• Mobile Apps: Access Zoho Expense’s full features through its mobile apps for Android and iOS, enabling expense management on the go.
• Custom Approval Workflows: Configure multi-level approval flows and policies to suit your organization’s unique needs, ensuring better oversight.

Additional Features:

Zoho Expense enhances its core features with advanced automation tools, collaboration options like real-time notifications, and extensive third-party integrations with accounting, ERP, and HRMS systems. Its robust security framework, including role-based access and multi-factor authentication, ensures your data stays protected.

Pricing:

• Free Plan: ₹0/month
• Standard Plan: ₹79/user/month 
• Premium Plan: ₹149/user/month 
• Custom Plan: Contact for pricing

User Reviews:

3. SAP Concur

SAP Concur Expense is a cloud-based solution designed to streamline and automate expense management for businesses of all sizes. It simplifies expense reporting, ensures compliance with company policies, and provides real-time visibility into spending. With seamless integration across travel and invoice systems, mobile-friendly features, and robust security, SAP Concur Expense delivers a comprehensive solution to manage employee-initiated spending efficiently.

Key Features:

• Automated Expense Reporting: Simplify expense management with automated tracking and reporting, reducing manual tasks and saving time for employees and finance teams.
• Policy Compliance Enforcement: Ensure adherence to company expense policies through automated rules, reducing the risk of unauthorized spending.
• AI-Driven Analytics: Use advanced AI tools for fraud detection, spending analysis, and policy violation monitoring to make informed decisions.
• Mobile-Friendly Access: Manage expenses on the go with mobile apps that allow employees to track, submit, and review expenses anytime, anywhere.
• Integrated Expense Management: Connect expense data with travel and invoice systems for a unified view and better control over company spending.
• Global and Multicurrency Support: Handle global operations with ease through support for multiple currencies and local compliance standards.
• Custom Approval Workflows: Tailor workflows to your business needs with customizable settings for approvals and expense processing.
• Cloud-Based Accessibility: Access your expense management system securely from anywhere, eliminating the need for software installations.

Additional Features:

SAP Concur extends its capabilities with integrations across partner apps, offering enhanced functionality and collaboration. Features like real-time notifications, advanced reporting tools, and role-based permissions ensure efficiency and data security. Its global compliance options make it suitable for businesses operating in multiple countries.

Pricing:

SAP Concur provides tailored pricing based on business requirements, including the number of users and volume of expense reports. Businesses can request a customized quote by contacting the SAP Concur sales team.

User Reviews:

4. Expensify

Expensify is a comprehensive expense management platform designed to streamline the way businesses and individuals handle finances. With features like automated expense tracking, receipt scanning, and detailed reporting, it saves time and reduces manual effort. Expensify integrates with popular accounting tools and supports invoicing, bill payments, and travel management. Its mobile app ensures accessibility, while its intuitive interface and AI-powered tools make financial management effortless.

Key Features:

• Automated Expense Management: Easily track, submit, and approve expenses with automated workflows and real-time processing.
• Receipt Scanning: Scan receipts with the mobile app to automatically log details like vendor, date, and amount.
• Expense Reporting: Simplify reporting with easy-to-create, review, and approve reports that reduce administrative tasks.
• Corporate Card Integration: Automatically capture and categorize transactions by linking company credit cards.
• Bill Payment Automation: Streamline approvals and payments while tracking due, paid, and overdue bills accurately.
• Travel Expense Management: Book flights and accommodations, and seamlessly import travel-related expenses.
• Invoicing: Quickly create invoices with automated calculations for taxes, discounts, and fees.
• Spend Analytics: Analyze spending patterns, manage vendor payments, and forecast budgets using built-in tools.

Additional Features:

Expensify enhances functionality with virtual cards for secure payments, payroll processing, and compliance tracking to ensure accountability. It integrates with over 45 platforms, including QuickBooks, Xero, and Workday, making it adaptable to various business needs. Collaboration features like chat-based approvals and notifications further simplify expense management.

Pricing:

• Free Plan: $0/month
• Collect Plan: $5/user/month
• Control Plan: $9/user/month
• Custom Plan: Contact for pricing

User Reviews:

5. Divvypay

Divvypay with real-time tracking, automated receipt matching, and seamless integration with popular accounting tools, it streamlines the entire process. The platform offers virtual cards, fraud protection, and insightful reporting to help businesses maintain control over their spending.

Key Features:

• Real-Time Tracking: Gain instant visibility into all expenses as they occur, ensuring timely and accurate oversight.
• Automated Receipt Matching: Match receipts with transactions automatically to eliminate the need for manual reconciliation.
• Custom Expense Categorization: Apply rule-based categorization for precise tracking and organization of all business expenses.
• Virtual & Corporate Cards: Issue virtual cards to manage recurring subscriptions and control employee spending effectively.
• Fraud Detection and Prevention: Monitor transactions in real-time, freeze cards instantly, and protect against unauthorized charges.
• Seamless Accounting Integration: Connect effortlessly with tools like QuickBooks, Xero, and Oracle Netsuite for smooth data flow.
• Quick Reimbursement: Streamline reimbursements for employees with easy-to-use tools and swift processing.
• Actionable Insights: Generate detailed reports to uncover spending patterns, optimize budgets, and improve decision-making.

Additional Features:

BILL also offers advanced tools for multi-entity expense management, mobile app access, and a rewards system for corporate spending. These features enhance control, mobility, and cost-efficiency for businesses of all sizes.

Pricing:

• $0/user per month

User Reviews:

6. ITILite

ITILITE Expense offers an all-in-one platform for managing, tracking, and controlling business expenses effortlessly. It accelerates reimbursement processes, automates compliance checks, and ensures seamless integration with ERP systems. With tools like receipt digitization and tailored reporting, ITILITE helps businesses save time and maintain accuracy. 

Key Features:

• Speedy Reimbursement Processing: Simplify the reimbursement journey with swift filing, automated workflows, and faster disbursements.
• Smart Receipt Digitization: Use OCR technology to scan receipts and auto-generate draft expenses, reducing manual data entry.
• Customizable Categories: Define unlimited GL-based expense categories to align with your unique business operations.
• Policy Enforcement Automation: Automatically identify out-of-policy claims by setting predefined spending limits and guidelines.
• Fraud Prevention and Audit Trails: Enable automated checks to detect anomalies and maintain a transparent audit trail for compliance.
• Detailed Analytics and Reporting: Generate customized reports and dashboards to monitor spending trends and identify savings opportunities.
• Mileage-Based Expense Tracking: Simplify mileage reimbursements by setting predefined rates for employee claims.
• Seamless System Integrations: Connect easily with leading ERP systems and HRIS platforms to enable uninterrupted data exchange.

Additional Features:

ITILITE also includes automated reminders for expense submissions, integration with over 50 payment cards, and flexible cash advance options. Its intuitive interface allows businesses to configure per diem rates and deploy the platform quickly without hidden costs or delays.

Pricing:

• Growth Plan: ₹99/user/month (Up to 100 users)
• Pro Plan: ₹119/user/month (100-500 users)
• Enterprise Plan: Custom pricing (For global brands with multiple entities)

User Reviews:

7. Raydoo

Rydoo revolutionizes how businesses handle expense management through AI-driven automation, instant reporting, and seamless software integrations. It simplifies every step, from expense submission to reimbursement, with unparalleled accuracy and efficiency. The platform provides customizable policies, automated compliance tools, and real-time visibility into spending. Features like receipt scanning and mileage tracking enhance productivity and ensure complete control for finance teams.

Key Features:

• AI-Powered Smart Audit: Leverage AI to detect policy violations and questionable claims, minimizing manual intervention.
• Flexible Policy Configuration: Set tailored rules for spending limits, approval workflows, and reconciliation to match business needs.
• Effortless Receipt Scanning: Snap a picture of receipts to auto-fill key details like date, vendor, and amount with exceptional accuracy.
• Automated Mileage and Per Diem Tracking: Streamline mileage logging and per diem calculations with built-in mapping and predefined rates.
• Live Expense Insights: Access real-time reports and dashboards to monitor expenditures and identify trends effortlessly.
• Streamlined Reconciliation: Automatically match credit card transactions with expenses to eliminate manual reconciliations.
• Carbon Footprint Tracking: Measure and centralize CO2 emissions from travel expenses, promoting sustainability and compliance.
• Extensive Integrations: Seamlessly integrate with over 35 platforms, including ERP, HR, and travel tools, for full system connectivity.

Additional Features:

Rydoo also provides virtual and physical business cards to simplify expense control and monitoring. Its advanced insights uncover cost-saving opportunities, while tailored ERP integration and global compliance tools ensure seamless operations across regions. With delegated approval services, finance teams can focus on strategic initiatives.

Pricing:

Essentials Plan:

• $9/user per month (billed annually)
• $12/user per month (billed monthly)

Pro Plan:

• $11/user per month (billed annually)
• $14/user per month (billed monthly)

Business Plan:

• Custom pricing (starting at 30 active users)

Enterprise Plan:

• Custom pricing (starting at 50 active users)

8. Fyle

Fyle redefines how businesses track and manage expenses, making the process seamless and efficient. Employees can submit receipts effortlessly through tools they already use, like text messages, Gmail, Outlook, Slack, and Fyle’s mobile app. With AI-driven receipt scanning, real-time credit card reconciliation, and automated approval workflows, Fyle eliminates tedious manual tasks. 

Key Features:

• Simplified Receipt Submission: Employees can submit receipts through text, email, or apps. AI-powered OCR extracts essential details like date, amount, and merchant.
• Live Credit Card Reconciliation: Automatically reconcile credit card transactions and notify employees of missing receipts, streamlining the process and saving hours.
• Smart Expense Categorization: Automate expense classification with rules based on merchant data, ensuring accurate and efficient tracking.
• Configurable Approval Workflows: Set multi-level approval hierarchies and allow managers to approve expenses directly via email, Slack, or the mobile app.
• Advanced Mileage and Per Diem Tools: Track mileage using Google Maps and configure per diem rates tailored to employee levels, departments, and locations.
• AI-Powered Compliance Checks: Ensure all expenses meet company policies by flagging duplicates, fraud, or out-of-policy claims before submission.
• Automated Reminders: Schedule timely reminders for employees to submit expenses and receipts, minimizing delays and follow-ups.
• Streamlined Accounting Integration: Seamlessly connect with accounting platforms like QuickBooks, Xero, Sage Intacct, and NetSuite for effortless expense syncing.

Additional Features:

Fyle centralizes expense data for easy access, offers customizable analytics for actionable insights, and supports ACH reimbursements (for US businesses). Its robust features include split-expense functionality, secure receipt storage, and audit-ready documentation to simplify compliance and reporting.

Pricing:

• Growth Plan: $11.99 per active user/month (billed annually)
• Business Plan: $14.99 per active user/month (billed annually)
• Enterprise Plan: Custom pricing for enterprises with 250+ employees

User Reviews:

9. Brex

Brex provides a cutting-edge platform that transforms how businesses manage spending and expenses. With AI-powered automation, it consolidates global expense tracking, enforces custom policies, and eliminates tedious manual tasks. Features like reimbursements, live budgets, and travel expense automation ensure seamless operations. Brex integrates effortlessly with tools like QuickBooks and NetSuite, offering real-time insights for better decision-making and enhanced financial control. 

Key Features:

• Customizable AI Policy Enforcement: Define and enforce spending rules with AI, ensuring compliance across all transactions and expense types.
• Smart Expense Reviews: Automate expense audits with AI that flags irregularities, reducing the risk of non-compliance.
• Real-Time Budget Management: Allocate budgets by department and track usage in real time, empowering teams to manage finances effectively.
• Global Reimbursement Capability: Process reimbursements quickly in over 70 currencies, with funds delivered to employees within three days.
• Continuous Accounting Automation: Leverage AI to automate GL coding, receipt matching, and memo generation, streamlining your financial close.
• Integrated Travel Management: Automate travel expense reporting with policies applied upfront during booking to ensure compliance.
• Actionable Spending Insights: Access real-time, AI-driven reports that identify spending trends and reveal cost-saving opportunities.
• Seamless System Integrations: Connect seamlessly with ERP systems like Xero, QuickBooks, and NetSuite to streamline data flow and operations.

Additional Features:

Brex also supports tools like Slack and WhatsApp for spending alerts, advanced spend anomaly detection, and reimbursement controls at the subsidiary level. Its multi-currency support, branded account options, and API integrations offer a tailored experience for complex financial needs.

Pricing:

• Essentials Plan: $0/user per month
• Premium Plan: $12/user per month
• Enterprise Plan: Custom pricing

User Reviews:

Key Considerations When Selecting Expense Management Software

• Compliance: Ensure the software adheres to GST, TDS, and other regulatory requirements. Features like ITC tracking and automated tax filing streamline compliance processes.
• User-Friendliness: Opt for an intuitive interface that is easy to navigate for all users. Mobile access and receipt scanning add convenience for employees on the go.
• Customization
  Choose software that allows tailoring of expense categories and workflows. This ensures it aligns with your business’s specific needs and structure.
• Security
  Ensure robust encryption and cloud backups to protect sensitive financial data. Audit trails and logs add an extra layer of accountability.
• Scalability
  Choose software that can scale as your business grows in size and complexity. Support for multi-currency transactions is crucial for global operations.
• Cost-Effectiveness
  Assess whether the software’s pricing aligns with your budget and business size. Evaluate its ROI through time savings and operational efficiency.

Conclusion

Efficient expense management is key to controlling costs and driving smarter financial decisions. The right software automates workflows, ensures compliance with GST and TDS, and provides real-time insights into spending.

The tools featured in this blog cater to the unique needs of Indian businesses, offering localized tax support, mobile accessibility, and seamless integrations. Whether you’re a small business or a growing enterprise, adopting the right solution can streamline processes and fuel your growth.

Choose the right tool today and take control of your business expenses for a smarter, more efficient future.