Spend management software to stop waste at the source

Spend management software gives companies complete control over their spending. It helps finance teams track, manage and streamline all corporate spending — from employee expenses and virtual cards to vendor management — in one place. By automating approval workflows, enforcing custom policies and having a single source of truth for spend data, spend management solutions can help reduce manual work, prevent overspending and improve cash flow.

When choosing between business spend management system providers, you should look for key features like:

• Real-time spend visibility that gives you a complete view of corporate spending across teams, vendors, and categories
• Automated approval workflows that ensure every transaction follows the correct approval process with customisable rues
• Corporate cards and virtual cards that control employee spending with pre-set limits and automated notifications
• Quick invoice payments that process tax invoices to vendors quickly with seamless integrations to accounting software like QuickBooks and NetSuite
• Spend controls and compliance to prevent overspending with built-in policy enforcement and automated flagging for policy violations

While expense management focuses on tracking and reimbursing employee expenses, spend management takes a broader approach by overseeing all business spending.

• Expense management typically covers travel, meals, and other business expenses submitted by employees via expense reports.
• Spend management includes procurement, supplier management, bill payments, corporate card transactions, and strategic sourcing, providing a complete picture of company spend.

Rippling makes expense management a breeze. We make it easy for admins — of all kinds of companies — from small businesses to enterprises — to create and customise policies to control spending. We make it even easier for employees to submit expenses, either through email, receipt upload or manual entry. All expenses are automatically routed to the right approvers for fast processing and expense details are made visible on employee profiles for total transparency.

Corporate cards at Rippling are primarily used for paying travel and entertainment expenses, subscriptions and SaaS fees, payables and other recurring monthly operational expenses. However, using corporate cards for inventory or capital asset purchases is discouraged due to higher default rates associated with such usage. These cards are owned by the employer, paid by the business and the business holds liability for any delinquent payments or debts, with employers having full visibility over spend requests and the ability to set credit limits.

To pay company invoices with Rippling, follow these steps:

• Consolidate, automate, accelerate:

  • Get a complete view of your company's spending and real-time invoice payment reporting.
  • Automatically route invoice approvals to the right approvers based on employee data.
  • Instantly create invoices with GL coding and automatic syncs to accounting integrations.

• Payment options:

  • Send payments via ACH, cheque or wire transfers to accommodate vendor preferences.
  • Facilitate the transition for vendors who prefer traditional cheques by using Rippling's Bill Pay email address.

• Key features:

  • Advanced policy engine: Ensures invoices are routed correctly and paid on time.
  • Instant invoice creation: Automatically captures invoice details for quick processing.
  • International invoice payments: Pay invoices in the vendor's local currency with currency exchange handled by Rippling.
  • Vendor portal: Allows vendors to update information, send invoices and receive payments.
  • Accounting integrations: Syncs invoices to preferred accounting systems for streamlined financial management.