Top Fintech Platforms for Expense Management in US Businesses
We all have been there. I know I am constantly behind on my expenses. Let’s say you are the owner of a small consulting firm or a startup, spending hours every month or at the end of the quarter going through a stack of travel receipts and bills to reconcile your expenses and make reimbursements. It is dreadful to dig through screenshots, paper bills in your office bag (in a ziplock, maybe?), Uber receipts, Hilton receipts, etc.
Some companies have attempted to solve that problem. It is possible to track travel expenses in real-time, generate e-invoices for accurate billing, and streamline reimbursements with automated approvals—obviously, your company, agency, or client must also play along.
AI-driven automated expense management solutions are available. Here are some of them:
| FinTech Platform | Year Founded | Countries Served | Estimated Revenue | Specialization |
| Brex | 2017 | Global (primarily US businesses) | $ 279 Million | Expenses automation, corporate cards, business banking, global travel management, banking and treasury |
| Zoho Expense(Part of Zoho Corp) | 1996 (Zoho Corp) | Global | $1 Billion ( Zoho Corp) | Travel and expense management, multicurrency support and automation |
| Stripe | 2011 | Global | $ 3.5 Billion | Payment processing and corporate solutions |
| Expensify | 2008 | Global | $ 139.20million | Cloud based expense reporting, business credit card, spend management, travel management |
| Revoult | 2015 | Global | $ 2.2 Billion | Corporate expense management, digital banking with multi-currency accounts, crypto trading |
| Ramp | 2019 | US | $ 700 Million | AI-driven spend management, corporate cards |
| Spendesk | 2016 | US and Europe | $ 73.1Million | Invoice management, expense management, business cards |
| Bill | 2006 | US | $ 1.3 Billion | Expense management, corporate cards |
| Navan | 2015 | Global | $ 630.2 Million | Corporate travel and expense management |
| Rydoo | 2011 | US and Europe | $ 31.5 Million | Expense management, integrated corporate cards |
Brex is known for providing a range of automated fintech solutions to businesses, including expense management. It offers AI-driven automated expense reports and approvals with a real-time tracking facility. The company provides integrated financial solutions combining corporate cards for global spending, in-app travel booking and management, AI-powered bill pay, banking, and treasury.
More than 30,000 companies (startups to big enterprises) manage their expenses on the Brex platform. The company’s AI-backed solutions can boost efficiency and performance and make the business future-proof.
Zoho Expense is an invaluable and user-friendly FinTech tool that helps businesses of all sizes track their expenses by automating and streamlining the entire process. This end-to-end automation software has many unique features and helps in receipt management, expense management, mileage tracking, and petty cash management.
Autoscan of receipts and hassle-free extraction ensures no receipts go untracked. Real-time tracking and smooth integration with various accounting software like Zoho Books and Quick Books automate expense reporting. Businesses can customize this tool according to their requirements and focus on growing their business without having to worry about expense management.
Stripe is a FinTech platform popularly known for payment processing solutions but also offers many tools for expense management. ‘Stripe issuing’ allows businesses to create and manage commercial card programs (virtual and physical cards for vendors, employees, etc.). This API (Application Programming Interface) offers real-time monitoring of transactions, making it easy to track expenses. Stripe also offers corporate credit cards, seamlessly integrated with accounting software like Xero and QuickBooks.
Expensify is a cloud-based expense management tool for business and personal use. It simplifies expense organization with automated expense categorization and a smart receipt scanning feature. Expensify provides all-inclusive solutions, including creating expense reports, reimbursing employees, and managing expenses. It reconciles expenses with receipts to prevent errors and fraud. With 12 million users, 45 integrations, and real-time financial insights, Expensify helps businesses focus on their growth.
Revoult is an all-in-one global FinTech app that helps businesses control their spending, track expenses, and manage reimbursements. It offers various FinTech tools for businesses, such as multi-currency business cards (virtual and physical cards in 30+ currencies), budget tracking, payroll management, expense categorization, and more.
Seamless integration with various accounting apps streamlines bookkeeping. Instant expense reimbursement and advanced real-time spending insights help businesses monitor their financial well-being. Revoult is one of the best expense management tools with strong banking features to address the needs of startups and global firms.
Ramp is an AI-driven smart expense management tool for businesses that helps them have complete control over their spending. Virtual and physical corporate cards with smart controls on spending limits help businesses ensure compliance and spend wisely. Automated receipt tracking, transaction matching, and categorization make the process smooth for businesses. Synchronization with various other bookkeeping apps, AI-powered spending insights, and various other features automate businesses’ financial workflow, save costs, and boost their efficiency.
Spendesk is expense management software that provides complete solutions to businesses to track, automate, and manage expenses. Auto-capture of receipts, auto-categorization of expenses as per company policy, smart (virtual and physical) corporate cards, real-time spend tracking and controls, custom approval of expense reporting, and invoice management are some of the important FinTech tools offered by this platform for businesses. Spendesk enhances visibility, streamlines the workflow, and helps startup and mid-sized businesses scale with automated expense management solutions.
Bill Spend and Expense is a leading expense management software that offers various solutions to businesses to track and manage their expenses. Automated expense reports and efficient reconciliation of transactions, subscriptions, employee cards, etc., help businesses control their expenses quickly. This simple and powerful FinTech tool offers seamless integration with various accounting software, reviews and automates expenses, and protects businesses from potential fraud. By automating the process, this tool improves business efficiency and boosts financial control.
Navan is a leading all-in-one travel and expense management platform designed for businesses to control their spending and track and manage expenses. Its AI-driven automated receipt capture system, smart reconciliation, corporate cards with custom spend controls, real-time analytics, and expense integration features help businesses automate their workflow. Navan is a powered FinTech tool for midsize and big enterprises to manage expenses efficiently.
Rydoo is considered one of the best cloud-based FinTech tools for empowering businesses’ financial teams. This simple expense management platform offers various smart features, including instant expense categorization, auto-scan of receipts, real-time visibility to spending across departments, customized expense approval, global compliance support, and more.
This cloud-based expense management solution ensures increased efficiency, spending control, and local compliance through effortless expense management. Rydoo can be an excellent choice for global businesses and small and mid-sized businesses that need a fast, smart, and user-friendly expense management system.
Conclusion
Expense management is increasingly shifting toward automation, which has been the case for several years. Brex uses AI to simplify expense reporting, while Stripe’s API-driven commercial card programs offer more flexibility for businesses. Expensify provides a cloud-based platform for managing expenses, and Revolut supports multi-currency transactions for global operations. Bill incorporates AI for financial insights, and Navan streamlines travel expense integration. As automation becomes more common, businesses adopting these solutions can improve efficiency, reduce errors, and manage costs more effectively.
