Choosing expense management software isn’t just about comparing features, it’s about selecting the right provider to partner with your business.
The tool you pick will handle sensitive financial data, shape your team’s daily workflows, and play a role in keeping your business compliant. For time-poor small business owners, the wrong choice can lead to frustration, wasted money, and inefficiency.
That’s why it’s important to look beyond the sales pitch and shiny features and dig just that little bit deeper.
In this blog, we’ll outline the key criteria to consider so you can choose an expense management provider that’s not only capable today, but ready to support your business as it grows.
If you don’t have time to read the full guide, here are the essentials to keep in mind when choosing an expense management provider:
Yes, all this sounds like a lot to look out for, but if you use a checklist to score providers side by side and ask targeted questions about updates, compliance, and support, you’ll soon find you can narrow down your options.
(Skip to the bottom of the article for 10 questions to ask to get the answers you need).
One of the most reliable ways to assess an expense management provider is by looking at their reputation in the market.
Independent reviews on platforms like Gartner Peer Insights, G2, or Trustpilot offer valuable insights into how real businesses experience the software day-to-day. Consistently high ratings, along with detailed user feedback, can give you confidence that the provider delivers on its promises.
It’s also worth considering the company’s history and track record.
Awards, industry recognition, and case studies all act as trust signals, showing that the provider is credible and dependable.
For small businesses, choosing a vendor with a solid reputation reduces risk and ensures you’re partnering with a provider that others are confident to recommend.
When choosing an expense management provider, security should be one of your top considerations.
These systems handle sensitive financial data, employee information, and company records, so you need assurance that everything is protected. Look for providers that meet recognised security standards such as ISO or GDPR compliance.
Data encryption, secure logins and regular security audits are all signs of a mature, trustworthy platform.
A strong provider will help your business meet both internal policies and external regulations, whether that’s expense reporting, mileage rules, or enforcing internal expense policy. Built-in audit trails and automated policy enforcement reduce the risk of fraud or costly errors, giving small businesses peace of mind that their expense processes will stand up to scrutiny.
Technology moves quickly, and your expense management provider should be keeping pace.
A worthwhile provider doesn’t just launch a product and leave it as is, they invest in regular updates and improvements. This might include adding AI-driven automation, voice-enabled expense entry, smarter mobile apps, or new reporting capabilities that make life easier for users.
At Expense On Demand we’re particularly proud of our development pipeline, with new and improved features launching regularly at no additional cost to our customers.
It’s worth checking how often a provider releases updates, and whether those changes are clearly communicated to customers.
A history of continuous innovation signals that the software will stay relevant and continue solving problems as business needs evolve. For small businesses, this means avoiding outdated systems and benefiting from improvements that save time and increase efficiency.
Even the best software can fall short if the provider doesn’t offer strong support.
Quick access to help, whether through live chat, phone, or a ticket system, can make the difference between a minor issue and a major disruption. Look for providers that offer responsive support channels, as well as resources like knowledge bases, tutorials, and community forums.
And onboarding is equally important.
A good provider will make setup straightforward with guided implementation, training materials, and ongoing assistance to help your team adapt quickly. This ensures you get value from the software right away, with less downtime and fewer headaches for your finance team.
While we might have started this article saying that choosing an expense management provider isn’t just about features, features do certainly play an important role.
When comparing providers, it’s important to look at the breadth of functionality on offer.
An expense management system should cover the essentials, like receipt capture, approval workflows, and reporting, but also provide flexibility with additional features that can be activated as your needs grow.
These might include integrations with accounting platforms, policy enforcement, multi-currency support, or even more advanced options like the aforementioned voice-activated claims.
The key is balance.
Some providers overwhelm businesses with features they don’t need, while others may be too limited to handle growth. Choosing a provider with a well-rounded suite ensures you’re not locked into a tool that quickly becomes outdated, or paying extra for features that should come standard.
Let’s be completely honest.
All the above evaluation points are completely moot if the pricing isn’t right.
Price is always the chief factor in a business decision, especially in the currently turbulent economic climate.
But we also know the cheapest option isn’t always the best fit.
When comparing providers, look beyond the headline subscription fee and consider the full picture, setup costs, integration fees, support charges, and any limits on users or features.
Go on demo calls and ask questions about costs. Be forward with your budget and your requirements. Transparent pricing is a good sign that a provider is trustworthy and won’t surprise you with hidden costs later.
And all this ties into something equally as important, the return on investment.
The right expense management software should save time, reduce errors, and improve compliance, all of which translate into real financial value. Small businesses, in particular, should weigh the cost of the tool against the efficiency gains and savings it can deliver. A slightly higher monthly fee may be worth it if the software pays for itself through time saved and better control of spending.
With so many providers available, it’s easy to feel overwhelmed.
The key is to focus on the factors that will have the biggest impact on your business such as trust, compliance, usability, and long-term value.
By using a clear checklist, you can compare providers side by side and avoid being swayed by flashy extras that don’t add real value.
When evaluating providers, here are 10 questions to ask (either yourself or the provider):
Don’t be afraid to take these questions directly to the providers themselves. If they’re a good and reputable expense management software business, they’ll welcome these kinds of queries with open arms.
It’s also very important to prioritise as well.
All expense tools have different benefits and trade-offs, and sometimes you may have to consider compromising in one area to see benefit in another.
For example, you may wish to trade off better support for fewer features, or enhanced security for a slower onboard experience.
If you’re clear and confident on what you need from your provider, you’ll quickly find you can eliminate those that aren’t right for you.
We’ve now covered the fact that for small and medium-sized businesses, choosing an expense management provider is about more than just ticking feature boxes, it’s about finding a partner you can trust.
The right provider will save you time, improve compliance, and give you the visibility you need to manage costs effectively as your business grows.
If you’re looking for all this, and a solution built with SMEs in mind, Expense On Demand is a strong place to start.
With a proven track record, average reviews of 4.6 stars out of 5, flexible pricing, and a focus on innovation, our platform is designed to give growing businesses the tools they need without unnecessary complexity.
Book a demo today to see how it can simplify your expense processes and free up more time for what really matters: running your business.
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