In the case of monetary administration and defending their backside line, companies can not afford to depend on disjointed spreadsheets and legacy instruments that solely serve to sluggish their processes down.
Savvy finance groups and departments now depend on Software program-as-a-Service (SaaS) finance instruments to assist them lower your expenses, handle bills, and put together for the longer term. However which resolution can assist you enhance your organization’s total monetary efficiency?
To assist save your organization cash, we’ve put collectively an outline of the highest 5 SaaS finance software program options — together with particulars about every supplier’s essential companies, noteworthy options, pricing, and buyer rankings — that will help you choose the suitable resolution from the get-go.
How to decide on the suitable finance software program for your enterprise wants
From expense administration methods and spend administration software program to bookkeeping and accounting options, there are various varieties of finance software program available on the market.
Nonetheless, there isn’t any one-size-fits-all SaaS finance software program resolution for each enterprise. Earlier than you decide, it’s important that you simply not solely take into account your {industry}, enterprise mannequin, and measurement but additionally establish your core enterprise wants and the way the software can present steady worth.
Right here’s what you must take into account when assessing the most effective finance software program instruments to assist your enterprise lower your expenses and enhance progress potential.
What to think about when selecting finance software program
- Determine your enterprise necessities: Start by assessing your finance-related wants and making an inventory to confer with through the software program choice stage. Contemplate the complexity of your monetary operations in addition to the precise duties and goals you need the software that will help you handle.
For instance, in case your essential purpose is to economize on enterprise journey, it is smart to think about journey and expense administration instruments. Or, if you happen to’re trying to optimize subscription and billing processes, a subscription administration software can be a sensible selection.
- Contemplate the software’s scalability: To keep away from platform migration sooner or later, be sure the software can develop and scale with the enterprise. For instance, can the software accommodate your startup if you happen to quickly ramp up transactions, add extra customers, or require custom-made options?
- Assess the software’s integration capabilities: Does the software combine along with your present tech stack (together with SaaS accounting software program, CRMs, and ERPs) to assist streamlined knowledge sharing?
- Consider the software’s price and added worth: Contemplate whether or not the software’s pricing mannequin matches your price range and ensure to accommodate any licensing charges, subscriptions, implementation prices, and upkeep expenses.
Secondly, take into account if the software’s performance and potential added worth matches the worth tag, and regulate how the ultimate value tallies with the prices of your different software program/subscriptions.
Whether or not you’re trying to streamline expense administration processes or just discover a higher method to calculate month-to-month recurring income (MRR) and annual recurring income (ARR), SaaS finance software program instruments provide help to streamline a number of the most labor-intensive duties. Listed here are simply a number of the different advantages of investing in finance software program.
- Streamlined money stream evaluation: Options akin to transaction monitoring and categorization, forecasting, and expense monitoring assist make the complete money stream evaluation course of simpler.
- Improved productiveness by way of automated processes: Options akin to invoicing, expense monitoring, and monetary reporting assist to considerably enhance enterprise effectivity.
- Diminished system complexity with integrations and add-ons: Many SaaS corporations provide integrations with a spread of different software program methods to simplify workflows, remove handbook monetary knowledge entry, cut back errors, and save time.
- Improved insights: Companies can achieve higher visibility into vital metrics and KPIs akin to buyer acquisition prices (CAC), buyer lifetime worth (CLV), and buyer churn and retention charges.
- Improved visibility into monetary efficiency: Superior analytics and reporting capabilities supplied by many finance SaaS instruments assist companies achieve deeper insights into their monetary efficiency, establish traits, and make data-driven selections.
1. Ramp
Ramp is a cloud-based expense administration platform that helps companies optimize spending, monitor bills in real-time, and achieve monetary insights for price financial savings.
The platform additionally automates accounting processes, helps multi-currency transactions, and screens provider efficiency.
Ramp integrates with TravelPerk to allow organizations to offer workers with Ramp company playing cards embedded with company-wide journey coverage limits. This integration additionally presents real-time monitoring, spend alerts, and receipt integrations for an optimized worker expense course of.
Ramp noteworthy options
- Digitized approval insurance policies and spending pointers, pre-approval of bills, and flagging of out-of-policy gadgets for evaluate.
- Accounting automation helps handle vendor knowledge, invoice fee particulars, and class monitoring.
- Integrations with Gmail, Lyft, and Amazon Enterprise to allow quick receipt assortment.
- Digital and bodily playing cards with limitless 1.5% money again.
- Syncs common ledger class mappings with NetSuite, Sage, QuickBooks, and Xero to remove a number of entries.
How prospects fee Ramp
G2 ranking: 4.8/5 (As of June 2023)
Capterra ranking: 4.9/5 (As of June 2023)
Ramp’s most-rated options
The next are Ramp’s most highly-rated options by actual customers on Capterra:
- Approval course of management: 5/5
- Cell receipt add: 5/5
- Workflow administration: 5/5
- Reimbursement administration: 4.7/5
- Budgeting/forecasting: 4/5
Ramp pricing
Ramp’s spend administration platform and company card are 100% free to make use of.
Languages supported by Ramp
Ramp solely helps the English language.
2. Divvy
Divvy is an all-in-one expense administration system designed to assist small and mid-sized companies handle spending, money stream, and bills and automate accounts payable.
Companies can proactively management worker spending by creating budgets, monitoring spending throughout departments, particular person workers, and distributors, and creating custom-made reviews. Organizations may also profit from Divvy’s company bank card which comes with a rewards scheme and advantages bundle.
Divvy’s integration with TravelPerk offers companies with a centralized portal from the place they’ll seamlessly guide, handle, and report on worker journey bills.
Divvy noteworthy options
- Divvy routinely syncs with worker bank cards to offer real-time visibility into spend by division, staff, challenge, and particular person budgets.
- Approvers can set spending limits and service provider controls that are straight tied to worker playing cards to forestall overspending and spending out of coverage.
- Customers can customise Divvy to reflect their chart of accounts by integrating it with a number of the finest accounting software program instruments.
- Cell receipt uploads and push notifications allow fast worker reimbursements.
- Automated accounts payable processes are enabled by tailor-made approval workflows to suit enterprise guidelines and two-way matching.
How prospects fee Divvy
G2 ranking: 4.5/5 (as of June 2023)
Capterra ranking: 4.7/5 (as of June 2023)
Divvy’s most-rated options
Divvy’s most highly-rated options by actual customers on Capterra:
- Receipt administration: 4.7/5
Divvy pricing
Divvy is free to make use of if you happen to use their company bank card program. If you don’t use their card, you can’t use the supplier’s spend administration platform.
Languages supported by Divvy
Divvy solely helps the English language.
3. Brex
Brex is an all-in-one spend administration software that helps corporations automate expense approvals, implement spending and expense insurance policies, and automate reconciliation.
The answer helps automated doc assortment, offers AI-driven insights on cost-saving alternatives, and reimburses US and worldwide workers in three days or much less.
The software additionally presents a worldwide company card with greater credit score limits and built-in expense administration options.
Brex noteworthy options
- Managers can management playing cards at a number of ranges, together with proscribing particular vendor spend, setting card restrict expiration dates, and blocking undesirable classes and retailers.
- Card limits and bills may be monitored in real-time, by staff, particular person, and world subsidiary ranges.
- In-policy bills are auto-approved to assist managers save time on expense processes.
- Cell receipt uploads powered by OCR know-how match receipts in any language or foreign money.
- Budgets may be created (for over 100 currencies) and tracked in real-time for departments, groups, people, and entities.
How prospects fee Brex
G2 ranking: 4.7/5 (as of June 2023)
Capterra ranking: 4.5/5 (as of June 2023)
Brex’s most-rated options
Brex’s most highly-rated options by actual customers on Capterra:
- Cell receipt add: 4.5/5
- Receipt administration: 4.1/5
- Accounting integration: 4.1/5
Brex pricing
The Brex Card has no annual charges or overseas transaction charges.
Languages supported by Brex
Brex solely helps the English language.
Able to discover extra finance software program instruments?
4. Invoiced
Designed as a “hub for all of your invoicing and funds”, Invoiced is an accounts receivable and accounts payable software program software for B2B finance groups.
The platform helps consumers and sellers securely ship and obtain invoices, pay distributors, and obtain funds. Finance groups can course of funds by way of bank cards, ACH, and fee retailers, select from custom-made fee plans, and set autopay for transactions.
Invoiced noteworthy options
- Accounts receivable is automated, together with all points of billing, collections, funds, reporting, and forecasting.
- The software’s portal allows customers to make funds, arrange auto-pay, obtain receipts, and handle subscriptions.
- Finance groups can entry pre-built or customized reviews in real-time throughout the complete invoice-to-cash lifecycle, money assortment forecasting and multi-entity reporting.
- All points of the accounts payable course of are automated, together with approval workflows, funds, staff collaboration, and reporting.
- The software’s vendor verification course of reduces fraud and vendor impersonation.
How prospects fee Invoiced
G2 ranking: 4.6/5 (as of June 2023)
Capterra ranking: 4.7/5 (as of June 2023)
Invoiced’s most-rated options
Invoiced’s most highly-rated options by actual customers on Capterra:
- Recurring/Subscription billing: 5/5
Invoiced pricing
Invoiced offers completely different pricing choices for its accounts receivable and accounts payable options.
Accounts receivable
The starter plan for small companies begins at $39/consumer/month. The 2 different pricing choices are customized and primarily based on accounts receivable options and options which are tailor-made to every enterprise.
Accounts payable
The starter plan prices $29/consumer/month for small companies. The mid-sized marketing strategy prices $49/consumer/month. To acquire a quote for enterprise companies, contact Invoiced straight.
Languages supported by Invoiced
Invoiced solely helps the English language.
5. Vendr
Vendr is a SaaS shopping for platform designed to assist companies cut back prices whereas dashing up procurement processes.
The software program guides customers by way of the SaaS shopping for and administration journey by automating the acquisition approval course of with data-driven procurement workflows, implementing compliance with regulatory and industry-specific requirements, and offering real-time updates on cost-saving alternatives.
Vendr noteworthy options
- Automated intake-to-procure workflows.
- Customers can benchmark and evaluate prices for over 20,000 merchandise in response to their firm’s measurement and price range.
- Automated reporting dashboards present a single supply of reality for SaaS contracts, renewals, and spending.
- Customers have entry to industry-leading SaaS consultants for suggestions on contracts and negotiation methods.
- The platform offers a devoted portal for worker procurement consumption.
How prospects fee Vendr
G2 ranking: 4.6/5 (as of June 2023)
Capterra ranking: As of June 2023, there aren’t any buyer critiques of Vendr listed on Capterra.
Vendr pricing
Vendr presents three pricing tiers, every with a flat annual fee primarily based on an organization’s annual SaaS price range.
- Starter: $36,000/month for corporations with $400K-$1M annual SaaS spend.
- Development: $78,000/month for corporations with $1M-5M annual SaaS spend.
- Enterprise: $120,000/month for corporations with over $5M annual SaaS spend.
Languages supported by Vendr
Vendr solely helps the English language.
Which SaaS finance resolution is finest for your enterprise?
This information is a good start line for evaluating a number of the high finance SaaS merchandise available on the market to save lots of your organization cash. Relying on your enterprise’s distinctive wants, there’s an answer on the market for everybody.
Nonetheless, if you happen to’re on the hunt for a software that may additionally provide help to handle enterprise journey bills, TravelPerk’s strong expense administration performance and VAT restoration resolution streamlines expense and invoicing processes. With negotiated charges and deep spending insights, TravelPerk can assist you lower your expenses on enterprise bills and journey prices.
To seek out out how one can begin saving cash on enterprise and journey bills, guide a free demo immediately.
