How to find best expense management software in 2017

Buying the best expense management software can go so horribly wrong. That’s because all expense management software isn’t the same, and without knowing the difference, there’s every chance that you’ll pick the wrong product when you plunge into the market place. Here’s how to find the best expense reporting software for your business – and why.

Well, the salesman said it was a good fit, but then he wasn’t going to have to wear it.

Anyone over the age of 50 in the UK will probably remember being taken, before the school summer holiday had started, to be bought new school uniform in readiness for the next term. And the phrase that so often came into the conversation was: “Well, he’ll grow into it.”

The result was that the child went to school looking, because of the ill-fitting outfit, like an escapee from a Marx Brothers film.

The thing is, there was just too much of it; more fabric than the child had any use for, and far from making him look smart, it made him look, much like the uniform, a misfit. The only saving grace was that he wouldn’t have been alone, because many other boys were draped in too much uniform too.

The difference between money management and expense management
And the same is true of money management software – because money management and expense management aren’t the same thing. And if you’re after the latter, taking on software for the former might get the job done, but not so well as a product created exclusively for that one complex expense management task.

Being on top of expense management involves diligent attention to a great deal of detail, and your chosen package needs to have the capability to deal with it all, on a similar scale to your business. There’s no point, if you’re a one-man (or woman) business, in having an approval process for your expenses. Conversely, if your company employs thousands, you’ll need to have a proper expense policy, approval processes, and sophisticated travel recording arrangements.

Therefore, start by thinking about what you need to get out of your expense management software. By doing that, you’ll know what needs to be put into it.

Solo Expenses understands your needs
Solo Expenses has a great deal of experience in online expense management. We’ve been in the business since 2003, and were the first to market with a product designed exclusively for sole traders, which gives you an idea of our pedigree. We understand that different organisations have different needs, and as a result has created four packages, each with a particular kind of operation in mind.

Personal: We start with the ‘Personal Use’ package, which we give away as a free download. (That’s right, no charge; ever).

Small business: Then there are two packages created with small businesses in mind. ‘Business Owner’ and ‘SMEs’ cover any business up to those with 100 users, and will track mileage automatically, import spend on credit and debit cards, and export to any accounting package, amongst lots of other functions, which can be compared here. Hey, we’ll even let you store details of expenses for more than 9 years, subject to  fair use policy.

Enterprise: Beyond 100 employees, we’d recommend our ‘Enterprise’ package, which really can be tailored to be a perfect for for the bigger business by adding in whatever elements your enterprise needs.

All data, stays confidential at all times; that’s a promise, and another is that there’s every chance that even the package you pay for could turn out to be free because of the money you’ll save by using it. What’s not to like about that?