Prime 5 finance software program options to save lots of your organization cash

Relating to monetary administration and defending their backside line, companies can not afford to depend on disjointed spreadsheets and legacy instruments that solely serve to gradual their processes down. 

Savvy finance groups and departments now depend on Software program-as-a-Service (SaaS) finance instruments to assist them lower your expenses, handle bills, and put together for the long run. However which answer might help you enhance your organization’s total monetary efficiency?

To assist save your organization cash, we’ve put collectively an outline of the highest 5 SaaS finance software program options — together with particulars about every supplier’s principal providers, noteworthy options, pricing, and buyer scores — that will help you choose the suitable answer from the get-go. 

How to decide on the suitable finance software program for your enterprise wants

From expense administration methods and spend administration software program to bookkeeping and accounting options, there are various kinds of finance software program available on the market. 

Nonetheless, there is no such thing as a one-size-fits-all SaaS finance software program answer for each enterprise. Earlier than you decide, it’s important that you just not solely contemplate your {industry}, enterprise mannequin, and dimension but in addition determine your core enterprise wants and the way the software can present steady worth. 

Right here’s what that you must contemplate when assessing the perfect finance software program instruments to assist your enterprise lower your expenses and increase progress potential. 

What to think about when selecting finance software program

• Determine your enterprise necessities: Start by assessing your finance-related wants and making an inventory to check with throughout the software program choice stage. Take into account the complexity of your monetary operations in addition to the particular duties and targets you need the software that will help you handle. 

For instance, in case your principal purpose is to economize on enterprise journey, it is sensible to think about journey and expense administration instruments. Or, for those who’re seeking to optimize subscription and billing processes, a subscription administration software can be a wise selection. 

• Take into account the software’s scalability: To keep away from platform migration sooner or later, be sure the software can develop and scale with the enterprise. For instance, can the software accommodate your startup for those who quickly ramp up transactions, add further customers, or require personalized options? 

• Assess the software’s integration capabilities: Does the software combine along with your present tech stack (together with SaaS accounting software program, CRMs, and ERPs) to assist streamlined information sharing?

• Consider the software’s value and added worth: Take into account whether or not the software’s pricing mannequin matches your price range and ensure to accommodate any licensing charges, subscriptions, implementation prices, and upkeep fees. 

Secondly, contemplate if the software’s performance and potential added worth matches the worth tag, and keep watch over how the ultimate worth tallies with the prices of your different software program/subscriptions.  

Whether or not you’re seeking to streamline expense administration processes or just discover a higher approach to calculate month-to-month recurring income (MRR) and annual recurring income (ARR), SaaS finance software program instruments assist you to streamline a number of the most labor-intensive duties. Listed below are simply a number of the different advantages of investing in finance software program.

• Streamlined money movement evaluation: Options resembling transaction monitoring and categorization, forecasting, and expense monitoring assist make all the money movement evaluation course of simpler. 

• Improved productiveness by means of automated processes: Options resembling invoicing, expense monitoring, and monetary reporting assist to considerably enhance enterprise effectivity.

• Decreased system complexity with integrations and add-ons: Many SaaS firms supply integrations with a spread of different software program methods to simplify workflows, eradicate handbook monetary information entry, scale back errors, and save time.

• Improved insights: Companies can achieve higher visibility into vital metrics and KPIs resembling buyer acquisition prices (CAC), buyer lifetime worth (CLV), and buyer churn and retention charges.

• Improved visibility into monetary efficiency: Superior analytics and reporting capabilities supplied by many finance SaaS instruments assist companies achieve deeper insights into their monetary efficiency, determine developments, and make data-driven selections.

1. Ramp

Ramp is a cloud-based expense administration platform that helps companies optimize spending, monitor bills in real-time, and achieve monetary insights for value financial savings.

The platform additionally automates accounting processes, helps multi-currency transactions, and screens provider efficiency. 

Ramp integrates with TravelPerk to allow organizations to supply staff with Ramp company playing cards embedded with company-wide journey coverage limits. This integration additionally affords real-time monitoring, spend alerts, and receipt integrations for an optimized worker expense course of.

Ramp noteworthy options

• Digitized approval insurance policies and spending tips, pre-approval of bills, and flagging of out-of-policy gadgets for assessment.

• Accounting automation helps handle vendor information, invoice cost particulars, and class monitoring.

• Integrations with Gmail, Lyft, and Amazon Enterprise to allow quick receipt assortment.

• Digital and bodily playing cards with limitless 1.5% money again.

• Syncs common ledger class mappings with NetSuite, Sage, QuickBooks, and Xero to eradicate a number of entries.

How prospects charge Ramp

G2 ranking: 4.8/5 (As of June 2023)

Capterra ranking: 4.9/5 (As of June 2023)

Ramp’s most-rated options 

The next are Ramp’s most highly-rated options by actual customers on Capterra: 

• Approval course of management: 5/5

• Cellular receipt add: 5/5

• Workflow administration: 5/5 

• Reimbursement administration: 4.7/5 

• Budgeting/forecasting: 4/5 

Ramp pricing 

Ramp’s spend administration platform and company card are 100% free to make use of. 

Languages supported by Ramp

Ramp solely helps the English language. 

2. Divvy

Divvy is an all-in-one expense administration system designed to assist small and mid-sized companies handle spending, money movement, and bills and automate accounts payable. 

Companies can proactively management worker spending by creating budgets, monitoring spending throughout departments, particular person staff, and distributors, and creating personalized studies. Organizations can even profit from Divvy’s company bank card which comes with a rewards scheme and advantages bundle. 

Divvy’s integration with TravelPerk offers companies with a centralized portal from the place they will seamlessly ebook, handle, and report on worker journey bills. 

Divvy noteworthy options

• Divvy routinely syncs with worker bank cards to supply real-time visibility into spend by division, workforce, venture, and particular person budgets.

• Approvers can set spending limits and service provider controls that are straight tied to worker playing cards to stop overspending and spending out of coverage. 

• Customers can customise Divvy to reflect their chart of accounts by integrating it with a number of the greatest accounting software program instruments.

• Cellular receipt uploads and push notifications allow fast worker reimbursements. 

• Automated accounts payable processes are enabled by tailor-made approval workflows to suit enterprise guidelines and two-way matching. 

How prospects charge Divvy

G2 ranking: 4.5/5 (as of June 2023)

Capterra ranking: 4.7/5 (as of June 2023)

Divvy’s most-rated options 

Divvy’s most highly-rated options by actual customers on Capterra: 

• Receipt administration: 4.7/5

Divvy pricing

Divvy is free to make use of for those who use their company bank card program. If you don’t use their card, you can not use the supplier’s spend administration platform.

Languages supported by Divvy

Divvy solely helps the English language. 

3. Brex

Brex is an all-in-one spend administration software that helps firms automate expense approvals, implement spending and expense insurance policies, and automate reconciliation. 

The answer helps automated doc assortment, offers AI-driven insights on cost-saving alternatives, and reimburses US and worldwide staff in three days or much less.

The software additionally affords a worldwide company card with greater credit score limits and built-in expense administration options.

Brex noteworthy options

• Managers can management playing cards at a number of ranges, together with limiting particular vendor spend, setting card restrict expiration dates, and blocking undesirable classes and retailers. 

• Card limits and bills will be monitored in real-time, by workforce, particular person, and world subsidiary ranges. 

• In-policy bills are auto-approved to assist managers save time on expense processes. 

• Cellular receipt uploads powered by OCR know-how match receipts in any language or forex.

• Budgets will be created (for over 100 currencies) and tracked in real-time for departments, groups, people, and entities.

How prospects charge Brex

G2 ranking: 4.7/5 (as of June 2023)

Capterra ranking: 4.5/5 (as of June 2023)

Brex’s most-rated options 

Brex’s most highly-rated options by actual customers on Capterra: 

• Cellular receipt add: 4.5/5

• Receipt administration: 4.1/5

• Accounting integration: 4.1/5

Brex pricing 

The Brex Card has no annual charges or overseas transaction charges.

Languages supported by Brex

Brex solely helps the English language. 

4. Invoiced 

Designed as a “hub for all of your invoicing and funds”, Invoiced is an accounts receivable and accounts payable software program software for B2B finance groups. 

The platform helps consumers and sellers securely ship and obtain invoices, pay distributors, and obtain funds. Finance groups can course of funds by means of bank cards, ACH, and cost retailers, select from personalized cost plans, and set autopay for transactions.

Invoiced noteworthy options

• Accounts receivable is automated, together with all facets of billing, collections, funds, reporting, and forecasting.

• The software’s portal allows customers to make funds, arrange auto-pay, obtain receipts, and handle subscriptions. 

• Finance groups can entry pre-built or customized studies in real-time throughout all the invoice-to-cash lifecycle, money assortment forecasting and multi-entity reporting. 

• All facets of the accounts payable course of are automated, together with approval workflows, funds, workforce collaboration, and reporting.

• The software’s vendor verification course of reduces fraud and vendor impersonation.

How prospects charge Invoiced

G2 ranking: 4.6/5 (as of June 2023)

Capterra ranking: 4.7/5 (as of June 2023)

Invoiced’s most-rated options 

Invoiced’s most highly-rated options by actual customers on Capterra: 

• Recurring/Subscription billing: 5/5

Invoiced pricing 

Invoiced offers totally different pricing choices for its accounts receivable and accounts payable options. 

Accounts receivable 

The starter plan for small companies begins at $39/consumer/month. The 2 different pricing choices are customized and based mostly on accounts receivable options and options which are tailor-made to every enterprise.

Accounts payable 

The starter plan prices $29/consumer/month for small companies. The mid-sized marketing strategy prices $49/consumer/month. To acquire a quote for enterprise companies, contact Invoiced straight.  

Languages supported by Invoiced

Invoiced solely helps the English language. 

5. Vendr

Vendr is a SaaS shopping for platform designed to assist companies scale back prices whereas dashing up procurement processes. 

The software program guides customers by means of the SaaS shopping for and administration journey by automating the acquisition approval course of with data-driven procurement workflows, implementing compliance with regulatory and industry-specific requirements, and offering real-time updates on cost-saving alternatives.

Vendr noteworthy options

• Automated intake-to-procure workflows.

• Customers can benchmark and evaluate prices for over 20,000 merchandise in accordance with their firm’s dimension and price range.

• Automated reporting dashboards present a single supply of reality for SaaS contracts, renewals, and spending.

• Customers have entry to industry-leading SaaS consultants for suggestions on contracts and negotiation methods.

• The platform offers a devoted portal for worker procurement consumption.

How prospects charge Vendr

G2 ranking: 4.6/5 (as of June 2023)

Capterra ranking: As of June 2023, there are not any buyer evaluations of Vendr listed on Capterra. 

Vendr pricing 

Vendr affords three pricing tiers, every with a flat annual charge based mostly on an organization’s annual SaaS price range. 

• Starter: $36,000/month for firms with $400K-$1M annual SaaS spend. 

• Development: $78,000/month for firms with $1M-5M annual SaaS spend.

• Enterprise: $120,000/month for firms with over $5M annual SaaS spend. 

Languages supported by Vendr

Vendr solely helps the English language. 

Which SaaS finance answer is greatest for your enterprise? 

This information is a good place to begin for evaluating a number of the prime finance SaaS merchandise available on the market to save lots of your organization cash. Relying on your enterprise’s distinctive wants, there’s an answer on the market for everybody. 

Nonetheless, for those who’re on the hunt for a software that may additionally assist you to handle enterprise journey bills, TravelPerk’s sturdy expense administration performance and VAT restoration answer streamlines expense and invoicing processes. With negotiated charges and deep spending insights, TravelPerk might help you lower your expenses on enterprise bills and journey prices. 

To seek out out how one can begin saving cash on enterprise and journey bills, ebook a free demo at the moment.