The 11 best corporate credit card expense management software solutions in 2024
Making sense of the corporate card expense management software market.
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1 minute
October 8, 2024
Corporate cards are a financial tool businesses use to make it easy for employees (cardholders) to pay for business expenses and manage budgets.
However, without the right operations, processing corporate credit card expenses can take finance teams hours – more so if they rely on email, spreadsheets, or paper-based processes. Many businesses turn to corporate credit card expense management software tools like Rho.
This practical guide is designed to help businesses evaluate the best options on the market and select the right company credit card expense management tool for their business needs.
Control spend, boost efficiency, and earn up to 1.25% cashback with Rho.
A corporate credit card helps companies manage their business expenses and budgets. It’s often used for expenses like travel, digital ads, client entertainment, cloud computing, SaaS software subscriptions, and more.
However, corporate credit cards on the market vary widely. Some offer better cashback or points while others incorporate technology more than their peers. For example, a Capital One or Chase card is what-you-see-is-what-you-get; you pay for expenses and receive a monthly statement.
Newer technology companies like Rho have introduced ‘smart’ corporate credit cards that provide additional capabilities including:
Did you know? The Rho corporate credit card offers up to 1.25% cashback on all purchases and Rho has zero platform fees.
It can, but this depends on the type of corporate credit card you are using. Some corporate cards make expense management easier, but others do not.
Legacy corporate card providers aren’t technology companies; they lack the technology-driven features that newer technology companies like Rho offer. Some common signs your corporate card is making expense management harder includes:
When you use corporate cards that are backed by an integrated expense management platform, managers can solve these headaches and take full control of company spend with complete visibility in real-time.
Benefits include:
Without automation and proper controls, using corporate credit cards may lead to unapproved spending and generate accounting errors.
The business is liable for paying corporate credit card balances, and controls must be in place to minimize unapproved transactions.
These situations increase the risk:
If credit card management isn’t automated, many transactions may not be reviewed until the credit card statement is received. Even worse, a company with poor controls may approve a fraudulent credit card transaction payment.
When credit card transactions aren’t posted to the correct expense accounts, the financial statements are incorrect, and management can’t assess budget performance or profitability. Here are several factors that contribute to the problem:
If a business has a CPA firm perform an annual audit, the expense allocation problem will likely be identified. However, the accounting department may spend much time posting and adjusting journal entries to the correct general ledger.
Corporate credit card expense management is how organizations track expenses against budgets, process all supporting documentation, migrate transaction data to the ERP to support financial reporting, and ensure expense policy compliance.
Corporate credit card expense management can be a tedious, time-intensive process, but automation tools can speed it up while improving financial controls over spending and boosting operational efficiency. Here is a more exhaustive list of the steps involved:
Next, we’ll cover the top corporate credit card expense management platforms on the market today.
Rho is a comprehensive finance platform thousands of American middle-market businesses use to automate their CFO suite: payables, expenses, treasury, banking services, accounting, and more.
Rho Expenses gives finance teams the tools to easily manage Rho Card spending, process expense reimbursements, and automate expense management.
Starting with the Rho Card, Rho allows businesses to create unlimited virtual and physical corporate cards and assign strict spend controls to each, including limits, merchant and category controls, and more.
In the Rho platform, admins can also generate customizable spending rules that create automated approval workflows based on the level of spend and budgets involved. When a Rho Card is used, employees receive notifications via SMS or the Rho mobile app to upload their receipts and other transaction data synced to the platform.
All transactions then sync live into Rho and can be sent to your ERP in seconds, eliminating data entry, thanks to our native integrations.
Rho integrates with QuickBooks Online, Oracle NetSuite, Microsoft Dynamics 365 Business Central, and Sage Intacct.
Rho also supports flat-file CSV exporting, so you can automatically tailor transaction categorization to your business needs. Read more about our accounting integrations here.
The Rho platform is free, with no fees for users, payments, accounts, or the overall platform.
Navan is a popular travel management and expense platform alternative to SAP Concur, thanks to its strong, user-friendly UI, ability to adapt to your corporate card solution, and built-in travel booking capabilities.
Navan’s platform automates transactions processed with Visa and Mastercard or using a Navan corporate card or your corporate card. Set up automated spending controls with the ability to change spending limits. Virtual cards can be integrated with each travel booking. The Navan Rewards program rewards employees for reducing travel costs.
Here are some additional benefits:
Navan offers accounting integrations with QuickBooks, NetSuite, Xero, and more.
Expense management, which includes corporate cards, is free for a company’s first 50 monthly active users. Navan requires you to book a sales call to get a specific quote for businesses with more than 50 monthly active users.
Did you know that Rho and Navan work well together? Pair Rho’s corporate card, banking, AP automation, and treasury with Navan’s best-in-class expense management and travel booking platform. Learn more today.
SAP Concur is a travel & expense management platform companies use to manage travel booking and employee expenses. Concur Expense provides automated expense management with customized workflows, approvals, and reports. Concur ExpenseIt links in credit card activity.
The Concur ExpenseIt platform automatically matches uploaded receipts to card charges. ExpenseIt reconciles credit card charges to posted expenses, speeding up account reconciliations and the month-end close. Users can use the desktop or mobile functionality.
Managers can customize workflows and spending policies; the platform’s automation will follow the guidelines. Users can search for flights, car rentals, and hotel availability using ExpenseIt and review loyalty point balances.
Managers can also review real-time reports, storing all data and communications in one place. SAP Concur provides integrations with ERPs, accounting systems, and payment providers.
SAP Concur integrates with SAP’s ERP SAP S/4HANA, Oracle NetSuite, QuickBooks, Xero, and other ERPs.
SAP Concur requires you to book a sales call for a specific quote.
SAP Concur has been a de facto travel & expense platform for decades but has limited expense management capabilities. The interface seems old and difficult to navigate. Uploading receipts is time-consuming, and users need help to upload receipts in batches.
Concur Expense has limitations that make it difficult to process more card transactions as the company scales. Rho provides a platform that allows businesses to scale.
Lastly, SAP Concur’s UX and expensive fees have led many companies to move to more modern solutions like Rho, which has the added benefit of having built-in AP, banking, and treasury.
Expensify provides expense management software allowing employees to track and submit expenses for processing. The platform automates expense approval and processes employee reimbursements. Expensify Card manages credit card transactions within the platform.
Expensify Card imports and accounts for company expenses. The software generates an eReceipt for most card transactions, eliminating the need to scan receipts. Expensify performs real-time reviews of transactions and spending policies to detect fraudulent transactions.
Users earn 1% cashback on each transaction, and Expensify offers perks and discounts through 20+ partners. The platform integrates with several accounting software packages.
Expensify integrates with QuickBooks, NetSuite, Xero, Sage, and other accounting platforms.
Expensify offers three pricing plans for businesses. If less than 50% of company spend is on the Expensify card, businesses pay a fee based on the amount of card use. Expensify requires you to book a sales call to get a specific quote based on your expected card use.
Expensify’s UX frustrates users, and several reviewers noted a lack of follow-up on customer support issues. The platform has a confusing price structure that some believe is too expensive. Users receive too many inquiries promoting other products.
Rho’s users enjoy frictionless spend management using the Rho Card. Rho’s software captures receipts in real time, and the approval process is fully automated. You can create custom spending rules based on your workflow needs. Rho does not charge platform fees.
Brex provides corporate cards, expense management, travel, and bill pay software solutions. The platform offers real-time expense tracking and variance reporting. Brex’s customers can do business in several different currencies.
Brex corporate cards can be issued digitally or in physical form. Spending limits can be set by dollar amount or vendor, and cards can be used for recurring payments. Brex can also pay reimbursements using the employee’s local currency.
Brex automates document collection, and users can set up approval workflows. The platform speeds up the month-end close using automation. Finally, the card offers cashback rewards, and the Exclusive Rewards program pays higher rewards for more card use.
Brex provides ERP integrations with NetSuite, Xero, Sage, and QuickBooks.
Brex requires you to book a sales call to get a specific quote.
Brex has a complicated card rewards structure based on payment frequency and card use. By comparison, Rho offers up to 1.25% cashback through statement credits, and customers clearly understand rewards.
While Brex largely targets VC-backed startups, Rho’s expense management solution is purpose-built to scale with both growth-stage startups and middle-market companies.
Several Brex users report problems with access to customer service. Rho, on the other hand, provides live expert service 24/7. Brex charges fees for its expense management platform, and the Rho platform is free.
Following BILL’s announced acquisition of Divvy, BILL rebranded the Divvy credit card and expense management platform as BILL Spend & Expense. The company provides the BILL Divvy credit card, an AP automation solution, and accounts receivable software.
When spenders swipe a card, it only takes a few taps for expenses to be fully coded and ready to sync with your accounting system, speeding up the month-end close. The platform categorizes spend in real-time, and managers are notified when spending occurs.
The BILL Divvy credit card offers rewards based on the type of credit card spending, and how frequently the balance is paid (weekly, twice a month, or monthly). Businesses must spend at least 30% of the credit limit each month to qualify for rewards.
BILL has other restrictions that impact the ability to earn rewards. If you miss a payment, close your account within the first year, or spend less than $5,000 in each of the last three months of your first year, you lose all reward points. The value of each point may also change.
Integrations with Sage, Oracle NetSuite, Microsoft Dynamics, and QuickBooks. See the comments above regarding QuickBooks integration issues.
BILL Spend & Expense is free, but the company’s AP automation has a cost. BILL requires you to book a sales call to get a specific quote for AP automation. Most businesses need an integrated version of both platforms to process expenses and AP efficiently.
The BILL Spend and Expense has a complicated process for earning corporate card points and rewards. Rho offers a more straightforward cashback reward and integrations with accounts payable, commercial banking, and treasury management functionality.
BILL Spend and Expense gets mixed reviews on customer support performance. Some reviewers believe that customer support during initial setup is effective, but that resolving issues after installation is difficult. Rho has a consistently responsive customer service team.
BILL Spend and Expense only offers budget-level controls. Rho provides card-level and user-level controls for more precise expense management.
Airbase is a spend management platform for small businesses and middle-market companies. It combines comprehensive accounts payable, a corporate card program, and employee expense reimbursements into one system.
Airbase users can take a receipt photo and upload the document using the mobile app. The software uses OCR technology to populate the expense details, including GL accounts, amounts, and vendors and automates approval workflows and spending limitations.
The Airbase card offers unlimited cashback on all spending categories, and cards can manage one-time and recurring payments. Card users receive automated fraud detection alerts, and Airbase has an integration with AMEX credit cards.
Integrations with NetSuite, Sage Intacct, QuickBooks Online, QuickBooks Desktop, and Xero.
Airbase offers Standard, Premium, and Enterprise pricing levels. Airbase requires you to book a sales call to get a specific quote.
Rho provides a frictionless platform for card use, while Airbase has occasional issues with software performance. Airbase follows a subscription-based software fee model so that costs can add up, whereas the Rho platform is free.
Airbase is an effective expense management and procurement system but lacks the more robust banking and treasury features in the Rho platform.
Volopay combines approvals, corporate cards, bill payments, expense reimbursements and accounting automation into one platform. The company also offers a business bank account.
Volopay corporate cards provide customized, pre-approved spending limits. Expenses are automatically categorized when spending occurs. Managers can issue virtual or physical cards and receive real-time tracking of all card transactions. Cardholders submit expenses using the mobile app.
Integrations with Xero and QuickBooks Online.
Volopay requires you to book a sales call to get a specific quote.
Volopay’s corporate card functionality is not consistently seamless for users. Customers must manually input expense data in some cases, and logging into the mobile app is cumbersome. Volopay’s software may freeze during data uploads, and users must start over.
Rho offers a frictionless spend management process with the Rho card. Volopay charges fees for the platform, and Rho does not charge platform fees.
Pleo offers automated expense management. Users can manage company card expenses, employee reimbursements, mileage reimbursement tracking, subscriptions, and invoices using Pleo. Note that Pleo is not available in the US.
Pleo corporate cards allow users to set up approval workflows and spending limits by dollar amount or by vendor. The cards automatically capture receipts, and users can set up recurring payments. Managers can cancel cards at any time, and cardholders earn up to 1% cashback.
Pleo provides real-time reporting of expenses for manager review.
Pleo has integrations with QuickBooks, Sage, and Xero.
Pleo has a free Starter level plan and an Essential plan that starts at 39 pounds per month (~$47 US dollars). The Advanced plan starts at 79 pounds per month (~$95 US dollars). All three plans allow up to three users. Pleo requires you to book a sales call to get a specific quote for more than three users.
Pleo is not available in the US market, while Rho serves the needs of US firms. Some users believe that Pleo is too expensive and the Rho platform is free.
Spendesk provides corporate cards and manages expenses, invoices, accounting automation, and budgeting. The company offers real-time reporting and several ERP integrations. Note that Spendesk does not serve businesses in the US.
Businesses can issue corporate cards with built-in, adjustable spending controls. The software captures receipts and automatically posts expenses to the correct GL accounts. Managers can set up cards for single-use or recurring expenses, and track spending in real time.
Users can issue virtual or physical cards, and cards can be paused, updated, or canceled at any time.
Spendesk provides integrations with QuickBooks, Xero, and NetSuite.
Spendesk requires you to book a sales call to get a specific quote.
With Spendesk, users point out approval delays, problems with virtual card functionality, and recurring expenses that need to be fully automated. Rho offers a frictionless expense management process that allows a business to scale.
Spendesk is expensive, according to several reviewers, and Rho is free. Rho also provides cash management and treasury services that Spendesk does not offer.
Fyle offers an expense management platform that is integrated with corporate cards. The firm has integrations with Visa, Mastercard, and AMEX credit cards. Fyle does not provide an AP automation solution.
Cardholders can submit expense receipts using the Fyle mobile app. The software scans data and matches the credit card transaction to the proper receipt, then codes the data to general ledger accounts. Fyle can manage expenses and employee reimbursements and provides real-time analytics.
Fyle has integrations with QuickBooks Online, NetSuite, Sage Intacct, and Xero.
Like Zoho Expense, Fyle offers Standard, Business, and Enterprise pricing plans. Pricing depends on the number of users per month, and other factors. Fyle requires you to book a sales call to get a specific quote.
Fyle’s corporate card platform requires too much manual input and sometimes freezes during use. The Fyle integration with Xero requires more manual input than most expense management integrations.
Fyle does not provide an AP automation solution, and users must purchase other software tools to manage spend.
Rho provides a frictionless and reliable expense management solution with corporate cards. Rho customers can handle expense management, corporate cards, commercial banking, and accounts receivable on a single platform, and it is free to use.
Find a corporate credit card tool that fully embraces automation to speed up processing and increase accuracy. The platform should automate controls over credit limits and spending decisions. Users should be able to upload receipts and post expenses to GL automatically.
Approvals should be automated, along with account reconciliations at month end. The best platforms are reliable, and offer ERP integrations. Finally, use a credit card management system that is also integrated with an AP automation tool.
Follow these best practices to maintain an effective credit card expense process:
The right corporate credit card expense management system can help you put in place clear controls that eliminate the need to process expenses via reimbursements, which can require more attention and documentation. You unlock the ability to earn cashback and streamline your finance operations – while improving your expense policy compliance and fraud prevention.
Create and communicate a spending policy for your entire organization. The entire staff should be able to quickly access an electronic version of the policy. Use the policy to set credit limits on cards, and to dictate the type of spending allowed on each card.
Make cardholders responsible for quickly responding to notifications to submit receipts for spending.
Require managers to submit budgets and ensure that each budget is approved before the start of the next fiscal year. All spending (including credit card expenses) must be assigned to a line item in a budget.
These best practices protect your business from overspending and will alert managers to potentially fraudulent transactions. As mentioned above, use a corporate card expense management platform that is fully automated.
After reviewing the different credit card expense management software solutions on the market, think about the features and tools that are most important for your business.
And if you still need help choosing the corporate card expense management software, let's make this easy.
If:
All wrapped up in unbeatable pricing and customer support available 24H Mon-Fri, 10-7pm ET on weekends sounds nice to you, so you should consider Rho.
Schedule time with a Rho payments expert today to open a Rho account today.
Competitive data was collected as of December 4, 2023, and is subject to change or update.
We developed a full guide to help you with this!
Expense management is a systematic approach businesses employ to track, analyze, and control employee-initiated spending related to day-to-day company operations.
We’ve written a guide providing some receipt management best practices you can read here!
Whether you're a business owner or a finance team looking to boost efficiency and cut costs, the Rho platform and Rho Mobile App can help you create a digital receipt filing system that simplifies your expense management process.
Most corporate credit card providers offer online tools where you can quickly see credit card transactions.
Rho offers expense reporting, automated notifications, and budget tools that provide finance teams with real-time visibility over credit card expenses – and how they impact your spending – in real-time.