Whether you’re a startup, a freelancer or an established enterprise, managing spend is an essential part of running a successful business. Luckily, spend management software is here to make it much easier.
Spend management software helps reduce the time you spend on manual, time-consuming tasks so you can focus on more important activities instead – like growing your business.
In this article, we’ll cover what spend management software is and take a look at ten of the top spend management software solutions on the market in 2025.
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Key takeaways:
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What is spend management software?
Spend management software is a digital tool all about helping your business track, control and optimise business spend.
Key functions of spend management software include everything from expense tracking, budgeting and forecasting to approval workflows, invoice and payment management, corporate cards and reimbursements and analytics and reporting.
Many spend management tools integrate seamlessly with your accounting software, keeping your business finances running smoothly across the board.
Traditional spend management is a manual process. With spend management software, however, such tedious, time-consuming tasks are a thing of the past.
There are plenty of reasons why businesses are saying goodbye to manual spend management and embracing digital tools. Among other things, spend management software:
- Improves efficiency
- Minimises human errors
- Prevents unnecessary expenses
- Improves cash flow visibility for better financial planning
- Helps manage supplier relationships and negotiate better deals
- Ensures compliance with financial policies and regulations
In short, spend management software is here to save you time and resources that can instead be spent on more valuable tasks.
10 best spend management software solutions 2025
Now that you’re caught up on what spend management software is, let’s take a look at our top picks for the ten best spend management software solutions on the market in 2025.
1. Pleo
With more than 1,480 five star reviews, Pleo is Europe’s most loved and trusted spend management platform. From daily business expenses to software subscriptions, Pleo gives you instant visibility of all your company spend.
Review the details in real-time, and if something's missing, ask for more information in just a few clicks. Minimise human errors and avoid manual expense reports by exporting Pleo spending data right into the accounting tools your finance team uses every day – and much, much more.
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Best for |
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Cons |
Pricing |
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Startups, small businesses and larger businesses |
User-friendly interface Flexible and scalable paid plans Real-time tracking and easy categorisation of expenses Seamless integration with business software |
Cost linked to number of users Limited multicurrency support |
Offers four pricing plans (Starter, Essential, Advanced and Beyond) based on the number of users and the features included |
2. FreshBooks
FreshBooks is a cloud-based accounting and invoicing software designed with small businesses and freelancers in mind. The solution features an automated expense tool that allows users to manage expenses.
It’s not the most advanced solution, but it’s a great place to start – particularly for growing businesses already using FreshBooks for their accounting needs.
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Best for |
Pros |
Cons |
Pricing |
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Freelancers, solopreneurs and small businesses that need a simple, user-friendly solution |
Intuitive interface Strong invoicing and expense tracking features Integration with payment gateways like Stripe and PayPal |
Limited automation for spend management compared to dedicated tools Higher-tier plans required for advanced features Not ideal for larger businesses or those needing deep financial analytics |
Offers three standard price tiers (Lite, Plus and Premium) and one custom (Select) pricing model |
3. Wave
Wave is a free accounting solution that provides invoicing, expense tracking and financial reporting. It’s a great all-around bookkeeping tool that does most of the heavy lifting for you.
Combined with its cost-effectiveness, this makes Wave a great option for e.g. freelancers and budding entrepreneurs who need a little help on the finance side of things.
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Best for |
Pros |
Cons |
Pricing |
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Solopreneurs, freelancers and small businesses looking for a free and easy-to-use solution |
Completely free accounting and invoicing features User-friendly and easy to set up No hidden costs for basic accounting tools |
Limited spend management features compared to paid competitors No advanced automation or real-time spend tracking Limited customer support on free version |
Offers two pricing plans: Starter (free) and Pro (paid) |
4. Avaza
Avaza combines key project management tools with expense management features, making it a great option for agencies and consultants. It also offers collaboration tools like Team Chat, ensuring teams are on the same page throughout the project.
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Best for |
Pros |
Cons |
Pricing |
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Consulting firms and agencies needing integrated project and financial management |
Great integration of project management and financial tools Time tracking and expense reporting in one platform Multi-currency invoicing and expense tracking |
Can be overwhelming for businesses that only need spend management Limited accounting features compared to dedicated accounting software Cost linked to number of users |
Offers four different pricing models: Free, Startup, Basic and Business |
5. Coupa
Coupa is like a Swiss Army Knife for enterprise spend management. With its intuitive interface and strong analytics, it brings all your procurement, expense and invoicing needs together under one roof.
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Best for |
Pros |
Cons |
Pricing |
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Mid-sized to large enterprises across industries, especially those looking for an all-in-one solution |
Easy-to-use interface with great user adoption rates Powerful real-time analytics for spend visibility Extensive third-party integrations |
High implementation costs and time Limited customisation for specific business needs Smaller companies might find it overwhelming |
Subscription-based, with costs depending on company size and number of users |
6. NetSuite
NetSuite is a robust, cloud-based solution designed for enterprise spend management. It goes beyond just that, however, offering ERP capabilities for holistic financial management. Basically, it collects everything in one place so you can focus on the big picture instead of drowning in spreadsheets.
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Best for |
Pros |
Cons |
Pricing |
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Medium to large businesses seeking integrated ERP solutions |
All-in-one solution for financials, procurement and more Strong reporting and real-time dashboards Highly customisable to fit business needs |
Can be costly the more modules you add Requires a significant time investment for setup and training Smaller companies may find it too complex for their needs |
Annual subscription based on the number of users and modules chosen |
7. Procurify
Procurify is a cloud-based procurement and spend management software that helps businesses streamline purchasing, approval workflows and expense tracking. It gives you real-time visibility into spending and integrates with accounting tools like QuickBooks, Xero and NetSuite.
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Best for |
Pros |
Cons |
Pricing |
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Small to medium-sized businesses that need an easy-to-use procurement and spend management solution |
Intuitive and easy-to-use interface Strong purchase approval workflows for better budget control Seamless integration with major accounting tools |
Some features and historical data may be difficult to find Lacks advanced procurement features needed by large enterprises Requires a quote for pricing, which may not suit businesses wanting immediate cost clarity |
Custom pricing on request |
8. Custodia
Custodia is an AI-driven spend management system focused on automating spending and expense processes to empower employees whilst keeping spend under control.
The solution offers a mobile app that allows you to enter estimated purchase details directly, place the purchase on a proprietary card and send the transaction through for approval and spend tracking – it’s that easy.
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Best for |
Pros |
Cons |
Pricing |
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Medium to enterprise-sized companies in need of automated spending and budgeting and digital finance features |
Employees can spend and track automatically, enabling instant budgeting and approvals Highly customisable system Intuitive AI features speed up reporting and budgeting |
Some users find the interface and setup less intuitive The system sometimes miscodes spend categories and must be manually adjusted |
Offers three pricing models (Starter, Enterprise and Unlimited), the first of which is paid monthly whilst pricing for the latter two is tailored to the organisation |
9. GEP SMART
GEP SMART is a cloud-native spend management suite designed for enterprises that want a full range of procurement and supply chain capabilities. GEP SMART lets you manage your direct and indirect spend effectively while boosting adoption, performance and compliance.
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Best for |
Pros |
Cons |
Pricing |
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Large enterprises, particularly in industries like manufacturing, retail and healthcare |
Unified platform for procurement, spend analysis and supplier management AI-powered insights to improve decision making Excellent global and multi-language support |
Implementation can be time consuming Some users find the interface less intuitive Pricing is on the higher side for smaller companies |
Custom pricing based on modules and company size – typically subscription based with setup fees |
10. TravelPerk
Travelperk is the perfect tool for booking travel and managing and reporting travel spend – all in one place. It makes booking flights, hotels, trains and car rentals easy whilst providing travel policy compliance tools and real-time expense tracking.
And here’s the best part: TravelPerk integrates with Pleo to make business trips plain sailing. Use your Pleo card to make your booking on TravelPerk, and automatically reconcile your expenses and invoices in one place – wherever you are.
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Best for |
Pros |
Cons |
Pricing |
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Businesses of all sizes looking for a streamlined way to manage corporate travel and related expenses |
Extensive travel inventory with access to flights, trains, hotels and car rentals Real-time expense tracking and automated invoicing Travel policy enforcement tools to ensure compliance 24/7 customer support with fast response times |
Some advanced features require a premium plan Not ideal for businesses without frequent travel |
Offers one free plan (Starter), two set plans (Premium and Pro) and one custom pricing plan (Enterprise) |
Read more about our TravelPerk integration
What to look for in spend management software
There are many spend management software solutions on the market – but not all solutions are the right fit for your business.
Here are some of the most important things to look for when choosing your software:
- Easy implementation: The longer a tool takes to implement, the more expensive it is. Look for a spend management software solution with a short implementation time and onboarding process.
- Real-time expense tracking: This might be the most important feature – after all, no one wants to have to wait until the end of the month to see their expenses. Look for a solution that tracks expenses in real-time so you’re always on top of employee spending.
- A simple expense overview: The right solution presents expense information in a clear, easy-to-understand format. If a glance doesn’t give you enough information to do a basic spend analysis, it’s not the right solution for you.
- Quick and easy document capture: You don’t want to spend unnecessary time on storing and processing documents like receipts, invoices and purchase orders. With the right software, you can capture and store these documents with ease.
- Time-saving automation: Traditional spend management is a time-consuming process. The right spend management software will automate manual tasks and free up time for your team to focus on more valuable tasks instead.
- Customisable spend limits: Not every employee needs access to the same funds. Look for a software that lets you customise spend limits to suit the individual employee’s needs.
- Good value for money: Make sure you get the value you’re looking for. Compare the spend management solution’s pricing model with the value and features it offers and weigh the potential benefits against the cost.
Final thoughts
Spend management software can help you manage and optimise everything from expense tracking, budgeting and forecasting to approval workflows, invoice and payment management, corporate cards and reimbursements and analytics and reporting.
When choosing your enterprise spend management software, look for a solution that offers low implementation time and high ease of use while simultaneously being a good fit for the size of your business – as well as your budget.
