What Is the Best Spend Management Solution? A Closer Look

 

Are you struggling to keep your company afloat? Without a doubt, your company’s financial habits are a major culprit!

So what’s the answer to your lack of money management? You want to find the ideal spend management solution to keep your company’s finances and business expenses in check.

But what’s the best spend management solution for your business? This quick guide will show you our recommendations to help you manage money via business software.

Here’s what you need to know about improving your spend management:

Wave

This is a great bookkeeping and accounting software for freelancers and small businesses. It also works well to help you save money as you analyze your spending habits.

You’ll keep track of when you spend money and the average amount of your business expenses. This gives you an idea if you’ve been growing, stagnating, or declining.

It’s one of the simplest spend management solution software programs available. It doesn’t require you to have prior experience however it’s limited with its features.

Receipt Bank

This is another simple software that helps you add your receipts and invoices to your dashboard.

You’ll keep track of how often you spend money and the categories where you save money the most. This is the easiest way to organize your payment information in one central database.

Its features are limited but is perfect if you just need to take a cursory glance at your business expenses then it’s ideal. It works for small and medium-sized businesses.

Avaza

This is a unique spend management solution software that not only tracks your expenses but also helps you create a budget.

You’ll create projects within Avaza’s dashboard and you can set a budget for each project. Then, within your dashboard, you’ll see if your team has been sticking to your budget.

Bento

If you wish there was a solution that could work to combine the features of the aforementioned options then this software can help!

Bento tracks how you spend money and save money in real-time. You’ll see your company’s budget go down each time you spend money. You’ll also see the spike reflect on a graph when you save money.

Best of all, Bento works well for freelancers, small businesses, and even large corporations. It’s an affordable software with different pricing packages depending on your company’s needs.

Find Your Spend Management Solution

Now you know why you need a spend management solution and our picks for the best choices.

Wave is a great choice for basic bookkeeping and is easy for the average user. Its features are limited but gets the job done for keeping track of when you spend money.

Receipt bank is great for keeping track of your payments in a single database. Avaza stands out for creating budgets.

But Bento takes the top spot as it tracks your expenses and earnings in real-time. It’s perfect for sole proprietors and growing enterprises.

You can find more business tips on our blog.