Spend management buyer's guide
How to choose the right tool for your business
Good spend management software is a lifesaver for finance teams. But how can you know which solution is right for you?
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Innovative spend management solutions increase employee productivity and autonomy while ensuring effective control for managers and finance teams.
But you still need to find the solution best suited to your company. With so many suppliers, solutions and technologies to choose from, it’s not easy.
To help, we’ve got a complete checklist of questions to ask yourself.
This checklist identifies your biggest needs, including:
Expense automation
Receipt and invoice collection
Approval workflows
Team budgets and reporting
And plenty more to take your company spend processes to a whole new level.
Spend management checklist — FAQ
Spendesk recommends a checklist that covers spend controls, approval workflows, and reporting, including virtual and physical cards, automated receipt capture, invoice management, team budgets, and ERP accounting integrations. This checklist ensures finance teams assess real-time spend visibility, multi-approver workflows, and policy enforcement to select software that reduces manual reconciliation and speeds up closing processes.
Spendesk automates expense reports by capturing receipts via mobile app and smart OCR, matching them to card transactions, and generating pre-filled expense entries for approval workflows. Spendesk's automated reconciliation and accounting integrations reduce manual data entry, enforce spending policies through virtual cards and limits, and speed up approvals so finance teams close books faster with accurate, auditable records.
Spendesk centralizes team budgets and approvals by assigning budget limits to teams, projects, or cost centers, issuing virtual and physical cards with preset limits, and routing purchases through configurable multi-level approval workflows. Spendesk's real-time dashboards and spending alerts help finance managers monitor allocations and enforce policies, preventing overspend and simplifying budget forecasting across departments.
Spendesk integrates with accounting systems by exporting synchronized transaction data, expense details, and vendor invoices into major ERPs and accounting platforms via native connectors and CSV/API integrations. Spendesk's automated coding, matching rules, and audit trails reduce reconciliation time, ensure consistent ledger entries, and support VAT and multi-currency handling for accurate financial reporting across teams and countries.