Choose Smarter Spend Management Today!
Managing business expenses often means dealing with scattered processes. Purchase orders in one system, reimbursements in another, and little visibility into where money is going. As your business grows, so does the complexity of spend management.
This is where the right software can make a real difference. Instead of relying on manual workflows or siloed spreadsheets, spend management platforms offer centralised control, automation, and real-time tracking across all spending activities. With the market projected to reach ₹4.67 lakh crore by 2032, it is clear that businesses are prioritising smarter expense control.
But with so many tools available, how do you choose the right one for your needs?
In this guide, we compare the top spend management software platforms in India. We'll break down features, strengths, and key differentiators to help you make the best choice for your business.
TL;DR
Spend management software helps centralise and automate expense processes, eliminating the need for scattered tools and manual workflows.
It offers real-time visibility into company spending, allowing better financial decision-making and budget control.
The best platforms integrate with accounting or ERP systems, ensuring seamless data flow and accurate reporting.
Key features to look for include custom approval workflows, multi-platform payment options, and strong analytics capabilities.
Choosing the right solution depends on your business size, growth needs, feature priorities, usability, and support quality.
What is Spend Management Software (SMS)?
At their core, spend management software refers to digital tools designed to optimise and automate your company’s purchasing and expense processes. They enable your business to track, control, analyse, and streamline spending from purchase requests to approvals, payments, and reimbursements.
A good spend management software integrates with accounting and ERP systems to provide seamless workflows that prevent unnecessary delays, reduce errors, and ensure compliance. They provide a unified view of your company’s financial data, allowing real-time insights into spending patterns and helping you identify opportunities to save.
Benefits of Using Spend Management Software
Adopting spend management software for your business can be a game-changer, offering more than just smoother financial operations. The right software solution will keep your business financially sound.
Here are a few advantages of adopting a spend management software for your business:
Streamlined Processes: Automating procurement, purchase requests, approvals, and reimbursements eliminates manual processes and reduces your administrative workload.
Real-Time Data Access: Spend management software offers real-time visibility into your company expenses, giving you the data you need to adjust strategies instantly.
Scalability and Flexibility: As your business grows, these platforms easily scale to accommodate increased volume without sacrificing control or accuracy.
Error Reduction: Automation reduces human errors and ensures that all financial transactions are processed accurately, ensuring compliance and reducing financial risk.
Reduced Costs: By streamlining processes, reducing errors, and getting real-time analytics reports to spot inefficiencies, your business can lower its overhead costs.
Improved Financial Oversight: With a comprehensive view of all expenses, you can make informed financial decisions, ensure budgets are adhered to, and track progress toward goals.
Key Features to Look For in Your Spend Management Software
The perfect spend management software solution is more than just a tool to track business expenses. Instead, it should offer a range of functionalities that cater to your unique business needs and support your growth trajectory.
Here are some crucial features you must look for in your spend management software:
User-Friendly Interface and Accessibility: Always look for software that is intuitive and easy to use. A good SMS should offer a user-friendly interface that allows both finance teams and employees to easily submit and approve expenses, manage payments, and access reports. It must also be accessible via web and mobile platforms, ensuring flexibility for remote or on-the-go teams.
Integration with Accounting and ERP Systems: Ensure that the software integrates seamlessly with your existing accounting or ERP system. This eliminates manual data entry, reduces errors, and allows for real-time updates between your spend management platform and financial records.
Customisable Approval Workflows: Make sure that your spend management software allows you to customise approval workflows based on your company’s needs. This ensures that expenses are routed to the appropriate team members for review, helping you maintain control over your spending.
Multi-Platform Payment Options: A versatile spend management platform should also support multiple payment options, such as bank transfers, credit cards, and digital wallets. This flexibility becomes more crucial if your business has a diverse vendor base and varied payment requirements.
Reporting and Analytics Capabilities: Your chosen spend management software must also offer customisable reporting options, including budget tracking, category-wise spend analysis, and vendor performance reviews. This helps your business make data-driven decisions to optimise spending.
Also read: Understanding 3-Way Matching in Accounts Payable Process
Top 11 Spend Management Software for 2025
Here we’ve compiled a list of the top 11 spend management software in India to help you make an informed decision.
Kodo
Kodo is built for fast-growing companies and offers features like purchase requests, orders, invoice management, corporate cards, vendor payments, and expense reimbursements. Trusted by 2,000+ companies like Cars24 and Mensa Brands, we can help you cut costs and improve financial oversight.
Key Features:
All-in-One Platform: Integrate procurement, payments, and expense management in one place, saving time and effort for your team.
Customisable Approval Workflows: Tailor workflows to match your business needs, ensuring that approvals are handled efficiently.
Corporate Cards with Real-Time Tracking: Empower your team with corporate cards while keeping real-time spend control, ensuring expenses are always aligned with your company policy.
Automated Invoice Management: Instantly capture and process invoices with automation, eliminating errors and reducing administrative workload.
Seamless ERP Integration: Integrate effortlessly with your existing ERP systems, allowing for smooth data exchange and enhanced financial oversight.
Pricing:
We offer custom pricing. Get in touch with us today.
Spendflo
Spendflo is another spend management platform focused on helping businesses manage subscriptions and vendor payments. Spendflo’s key selling point is its ability to track, manage, and optimise recurring payments and billing cycles with ease. This makes it ideal for businesses with many software and service subscriptions.
Key Features:
Subscription Management: Spendflo helps businesses manage multiple subscriptions and vendor contracts efficiently.
Automated Billing: Automates billing cycles and subscription renewals to reduce manual work and prevent missed payments.
Custom Reporting: Creates custom reports to track spending and forecast future subscription needs.
Pricing:
Custom.
Expensify
Expensify is a cloud-based expense management platform that simplifies expense reporting, approvals, and reimbursements. It uses AI to automatically scan receipts, extract key data, and categorise expenses. This saves time and eliminates human error. Expensify is best for businesses looking for a user-friendly expense management solution with powerful reporting tools.
Key Features:
Receipt Scanning and Expense Reporting: Expensify’s AI technology automatically reads receipts and populates expense reports for approval.
Real-Time Approval Workflows: Approve expenses in real-time with automated workflows to eliminate delays.
Integrations with Accounting Tools: Expensify integrates seamlessly with tools like QuickBooks and Xero, simplifying accounting.
Pricing:
Custom.
Brex
Brex is a spend management platform that combines corporate credit cards, expense tracking, and financial oversight in one solution. Known for its ease of use, it integrates with accounting systems, automates workflows, and delivers detailed analytics. Brex is mainly geared towards fast-growing startups and small businesses, particularly those in tech and SaaS industries.
Key Features:
Corporate Cards with High Limits: Brex offers high-limit corporate cards with real-time expense tracking and spending controls.
Integrated Expense Management: Simplify expense approvals, reporting, and payments in one platform.
Financial Analytics: Brex provides detailed analytics on company spending, helping businesses make smarter financial decisions.
Pricing:
Free plan + premium plans start at $12/user per month.
Ramp
Ramp is an expense management platform designed to help businesses optimise spending with real-time expense tracking and controls. It offers corporate cards with automated expense categorisation, detailed financial insights, and cashback benefits. Ramp is ideal for companies looking for robust spend optimisation features.
Key Features:
Corporate Cards: Ramp offers corporate cards with integrated expense tracking, providing your business with full visibility into company spending.
Spend Control Features: Set spending limits, track expenses in real time, and automatically categorise spending.
Cashback on Purchases: Ramp offers cashback incentives on business purchases, helping your business save on every transaction.
Pricing:
Free plan + premium plans start at $15/user per month.
Spendesk
Spendesk is an all-in-one spend management solution that combines corporate cards, expense tracking, and procurement in one platform. It allows your business to manage and approve expenses in real-time, ensuring transparency and control. Spendesk is perfect for businesses looking to automate all aspects of their expense management.
Key Features:
Corporate Cards: Manage employee spending with corporate cards that offer real-time tracking and control.
Approval Workflows: Customisable approval workflows ensure that expenses are tracked and approved in real-time.
Invoicing and Expense Management: Streamline your invoicing and expense management to reduce manual errors and save time.
Pricing:
Custom.
Zoho Expense
Zoho Expense is an intuitive expense management tool that simplifies the expense management process by allowing your business to track and manage employee spending. It automates expense reporting, approval workflows, and integrates seamlessly with other Zoho applications. It’s a great choice for small to medium-sized businesses looking for a cost-effective solution to handle expenses.
Key Features:
Expense Tracking: Track employee expenses in real-time with automatic categorisation and instant reporting.
Multi-Currency Support: Perfect for businesses with international operations, Zoho Expense supports multiple currencies.
Integration with Zoho Apps: Easily integrates with Zoho Books, Zoho CRM, and other Zoho apps for streamlined business operations.
Pricing:
Free plan + paid plans start from ₹99/user per month when billed monthly.
Rydoo
Rydoo is a travel and expense management platform that combines both travel bookings and expense reporting into a single solution. With real-time tracking, automated approval workflows, and analytics, Rydoo is a great solution if your company is managing high volumes of travel-related expenses.
Key Features:
Travel and Expense Management: Rydoo combines both travel and expense management in one platform, making it perfect for businesses with regular travel requirements.
Automated Expense Reporting: Automatically capture receipts and categorise expenses with AI-powered tools.
Global Expense Management: Rydoo supports multi-currency transactions, making it perfect for international businesses.
Pricing:
Plans start from $12/user per month when billed monthly.
SAP Concur
SAP Concur is an enterprise-grade spend management platform used by large corporations worldwide. It integrates both travel and expense management in one solution, allowing your business to streamline travel bookings, approval workflows, and expense reporting. It’s ideal for larger enterprises looking for a global solution that integrates seamlessly with their existing systems.
Key Features:
Travel and Expense Integration: Manage both travel bookings and expenses in one unified platform.
Real-Time Reporting and Analytics: SAP Concur offers detailed reporting and analytics to track spending patterns.
Global Reach: SAP Concur is perfect for multinational businesses with complex global travel and expenses.
Pricing:
Custom.
Happay
Happay is a spend management platform that combines expense tracking, corporate cards, and procurement solutions. It also simplifies the reimbursement process and provides your business with visibility into your spending patterns. It is well-suited for businesses looking for a simple yet effective way to manage employee expenses and vendor payments.
Key Features:
Expense Reporting: Automate expense reporting and approvals for a streamlined process.
Corporate Cards: Issue corporate cards to employees with real-time tracking and control.
Vendor Payment Management: Manage vendor payments and approvals from a single platform.
Pricing:
Custom.
Fyle
Fyle is a simple and intuitive expense management solution that integrates with major accounting systems to automate expense reporting. It also allows your business to manage corporate cards and streamline expense submission with AI-powered receipt scanning. Fyle is best for companies that want a straightforward and efficient way to handle employee expenses.
Key Features:
Expense Management: Fyle offers a simple and efficient way to track employee expenses and reimbursements.
Automated Integration: Integrate seamlessly with accounting platforms like Xero and QuickBooks.
Corporate Cards Integration: Simplify the process by integrating corporate cards directly with the platform for easy tracking.
Pricing:
Plans start at $14.99/user per month when billed monthly.
Now, having explored the different SMSs, let's also discuss what you should look for when choosing the right software for your business.
How to Choose the Perfect Spend Management Software for Your Business
Selecting the right spend management software is a pivotal decision that can significantly impact your business's financial efficiency and growth trajectory. With numerous options available, it’s important to select a solution that meets your business needs, scales with growth, and simplifies expense tracking.
To ensure you make an informed choice, consider the following key factors:
Assess Your Business Size and Needs: Before diving into software options, evaluate your company’s size and growth trajectory. If you’re a small business, you might just need basic features like expense tracking. Whereas, if you’re a large enterprise, look for comprehensive platforms with procurement, invoicing, and compliance capabilities to manage complex operations.
Narrow Down the Most Important Features: Prioritise features that address your business's unique challenges and objectives. Look for critical features like automated expense tracking, customisable approval workflows, or seamless integration with accounting systems. Mobile accessibility, policy enforcement, and real-time reporting are also crucial.
Think About Ease of Use and Implementation: Choose an SMS with an intuitive user interface to minimise the learning curve and ensure smooth employee adoption. Prioritise platforms that offer clear onboarding processes and training support. The easier the software is to use, the faster your team will adopt and utilise it effectively.
Consider Pricing and ROI: Balance the software pricing with its potential return on investment (ROI). Look for a cost-effective pricing model, either subscription-based or per-user, that aligns with your budget. Don’t forget to consider hidden costs like implementation or training fees. Before making your decision, evaluate how the software will save time, reduce errors, improve compliance, and be scalable.
Evaluate Customer Support Experience: Lastly, ensure the software vendor offers robust customer support during your business hours through different channels like phone, email, and live chat. You can also research vendor reviews on G2, Gartner, Trustpilot, and Capterra to assess their reputation and user experience before making your final decision.
Final Thoughts
In 2025, the need for a comprehensive spend management solution is no longer optional. In fact, it's essential for your business in order to gain real-time visibility into where your money is being spent and by whom. However, choosing the right spend management software is a strategic decision that can significantly impact your business's financial health.
If you’re confused among the varied software options available, you can consider Kodo as your spend management partner. Our platform offers a comprehensive suite of tools integrated into a single unified platform. With over 2,000 companies trusting us, we can easily streamline your financial operations and provide real-time spend visibility.
Book a call with us today and learn how Kodo can transform your business’s spend management.
FAQs
I have a startup. Do I also need spend management software?
Yes, spend management software can be incredibly beneficial for startups. It helps streamline purchasing, track expenses, automate approvals, and gain real-time insights into your finances. As your startup scales, having a system in place ensures better control over spending and prevents financial chaos.
What are some costs associated with most spend management software in India?
Costs for spend management software in India vary based on features, business size, and vendor. Typically, pricing includes subscription fees, setup charges, and optional add-ons like advanced reporting or ERP integrations. Many platforms offer tiered pricing, starting from basic packages to more comprehensive, enterprise-level solutions.
Will adopting a cloud-based spend management software be safe for my business?
Yes, cloud-based spend management software is generally safe, provided you choose a trusted vendor with strong security measures. Look for features like data encryption, multi-factor authentication, and regular audits. Cloud systems also offer the benefit of remote access and automatic updates, ensuring up-to-date security.
What kind of support can I expect from spend management software vendors?
Spend management software vendors typically offer 24/7 customer support, including live chat, phone assistance, and email support. Many also provide dedicated account managers, implementation support, and training resources. Expect periodic system updates and a knowledge base to ensure your team maximises the software’s potential.