Spend management software to stay in control
Control global business spend, simplify important finance processes, and give employees spending power with globally-accepted credit and debit cards. Seamlessly integrate spend management into your finance ecosystem with best-in-class ERP and accounting system integrations.
PCI DSS and ISO 27001 certified
Efficiency-boosting spend management software
Manage employee expenses, reimbursements, invoices, accounts payable, and company cards in a single platform.
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Use globally accepted virtual or physical debit or credit cards, and add to Apple or Google Pay for even greater convenience.
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Get automatic expense reconciliation and data transfer to your ERP or Accounting System (as soon as you’ve reviewed), no need to manually sync.
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Send automatic prompts to employee phones to remind them to submit their data. And make data capture simple and error-free with leading-class OCR tech.
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Monitor recurring payments, pinpoint duplicates, and avoid cost creep. Plus, pay invoices and get reminders to upload funds ahead of payment dates.
Export expenses, payments, and deposits in seconds and benefit from automatic two-way communication to your ERP or Accounting System.
Spend management made simple
Empower your teams with globally accepted credit and debit cards
Issue globally accepted corporate credit and debit cards individually or in bulk and get set to spend in just seconds thanks to virtual Payhawk cards with no bank issuance delays. Apple and Google Pay compatible, Payhawk corporate cards also come with low FX rates and important spend controls including monthly, daily, and single transaction limits.
Automated reconciliation of expenses for a faster month-end
Simplify your expense reconciliation process with OCR data capture, custom spend categorisation, and direct data transfer to your ERP or accounting system. Review your expenses and let the data flow, with no manual syncs and zero errors. Leading direct ERP and accounting system integrations leads to a faster, more accurate month-end for your teams.
Receipt chasing done for you
Save time chasing receipts with clever features like auto-blocking card spend due to late expenses and automatic receipt chasing. Plus, reduce data entry and manual verification for both employees and finance teams with leading-class OCR technology.
Easy subscription management to avoid overspend
Load and pay invoices or issue credit notes via the platform alongside your other expenses and leverage smart subscription spend software to avoid duplication and cost creep. Let Payhawk’s AI pinpoint subscriptions, predict the billed amount, and remind you to upload funds before payments are due.
Allocate spend to team and project budgets
Allocate employee cards to team or project budgets and apply specific limits and workflows to these groups. Track spend easily and drive budget accountability across your fast moving business.
Automatic communication to ERP and accounting systems
Take back your time and stop wasting hours identifying discrepancies thanks to direct integrations with your ERP and accounting systems. Seamlessly export expenses, payments, and deposits in seconds and benefit from automatic two-way communication to save more than two hours on manual processes a day.
Build complex workflows based on org charts and holiday periods
Custom build multi-step approval workflows based on payment size, org charts, holiday periods, and more, to alert managers of when they need to review and approve expenses. Create and customise workflows with ease and apply them to individuals, teams, and other groups as you need.
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FAQs
Spend management software is a type of business software that helps organisations manage their expenses and control costs. It can provide a range of features, including expense tracking, budgeting, procurement, invoice processing, and reporting.
Some of the key benefits of spend management software include:
- Improved visibility: By centralising financial data and providing real-time insights into spending, spend management software can help organisations gain a clearer understanding of their expenses and make informed decisions.
- Increased efficiency: Spend management software can streamline processes such as invoice processing and procurement, reducing the time and resources required to manage expenses.
- Better compliance: By enforcing spending policies and providing alerts for potential compliance issues, spend management software can help organisations stay on top of regulatory requirements and avoid penalties.
- Cost savings: By identifying areas of overspending and opportunities for cost reduction, spend management software can help organisations optimise their spending and improve their bottom line.
Overall, spend management software can be a valuable tool for organisations looking to improve their financial management and control costs.
Spend management software is a type of business software that can help organisations manage their expenses and control costs. Some of the key benefits of using spend management software include:
- Improved visibility: By centralising financial data and providing real-time insights into spending, spend management software can help organisations gain a clearer understanding of their expenses and make informed decisions.
- Increased efficiency: Spend management software can streamline processes such as expense tracking, invoice processing, and procurement, reducing the time and resources required to manage expenses.
- Better compliance: By enforcing spending policies and providing alerts for potential compliance issues, spend management software can help organisations stay on top of regulatory requirements and avoid penalties.
- Cost savings: By identifying areas of overspending and opportunities for cost reduction, spend management software can help organisations optimise their spending and improve their bottom line.
- Improved supplier management: Spend management software can provide organisations with a centralised system for managing supplier relationships, enabling them to negotiate better prices and terms.
- Enhanced reporting and analytics: Spend management software can provide organisations with robust reporting and analytics capabilities, allowing them to track spending trends and identify areas for improvement.
Overall, spend management software can be a valuable tool for organisations looking to improve their financial management and control costs.
Spend management software and Enterprise Resource Planning (ERP) systems can work together to provide a comprehensive solution for managing an organisation's finances.
Spend management software typically focuses on managing expenses, such as tracking purchases, managing supplier relationships, and processing invoices. It provides a user-friendly interface for employees to submit expenses, and managers to approve or reject them. The software also provides real-time visibility into expenses and can alert managers to any potential compliance issues.
On the other hand, an ERP system integrates financial and operational data across an organisation's various departments and functions. It can help automate financial processes, such as general ledger accounting, accounts payable, and accounts receivable. An ERP system can also provide financial reporting and analysis capabilities, as well as support for inventory management, supply chain management, and other operational functions.
When integrated, spend management software and ERP systems can provide a complete view of an organisation's financial data, including both expenses and revenue. This integration can help organisations make more informed decisions by providing a consolidated view of financial data, reducing the risk of errors and ensuring data accuracy.
For example, when an employee pays with a company card and uploads an expense receipt into the spend management software, the data can be automatically synced with the ERP system. The ERP system can then use this data to update financial records and provide insights into how expenses impact the organisation's overall financial performance.