Best expense management software for ecommerce businesses

Best expense management software for ecommerce businesses

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Like an archaeologist scouring the desert, you finally dig up that Google Ads receipt from last March, buried in the depths of your inbox. "Only six more to go," you tell yourself, as you upload the long-lost artefact into your accounting software.

We all know the pain of searching for receipts from multiple ad platforms and trying to match them to our expenses. But most of that frustration and wasted time is avoidable with the right expense management software.

Many expenses that are commonplace in ecommerce companies are not really considered as expenses by expense management apps. These apps usually focus on general business and travel expenses. While ecommerce businesses incur those expenses too, sector-specific expenses like ad receipts and multiple platform payments are harder to track. 

That makes it challenging to find a good all-in-one solution that meets the nuances of ecommerce expense management. To reduce the manual work you put into managing expenses and free up valuable time to work on your business you need to consider:

  • Do you get a real-time overview of your expenses? 
  • Would automating receipt collection save you time and effort?
  • Does your software have the variety of integrations you need to thrive?
  • Can you separate your spending by specific vendors?

Spend management software options in today's market

There’s lots of choice when it comes to finding good expense management software. While there are some platforms with great features that are suited to ecommerce, they aren’t built specifically to meet the needs of ecommerce companies. Let’s look at a few of the contenders.

SAP Concur

SAP Concur is all about streamlining processes to deliver efficiency savings, with a focus on eliminating manual data entry, lost receipts and unclaimed VAT refunds. As such, it’s perhaps best suited to larger organisations.

  • Receipt capture and submission via a native app
  • Automated expense rules for business-wide consistency
  • Syncs with data feeds from banks, credit cards, and some third-party businesses
  • Automatic expense review processes
  • Smart dashboard to track expenses against budgets

Brex

While Brex isn’t solely aimed at ecommerce brands, it is targeted at tech-focused businesses, so there’s overlap with ecommerce. Its straight-up expense management product has been around for a while, and it recently launched its spend management software.

  • Automatic receipt matching after receipts are submitted by email or text
  • AI-powered anomaly detection feature
  • Syncs data from multiple sources for automated expense reconciliation
  • Global expense reimbursements in local currencies
  • Custom spend reports to see where savings can be made

Zoho Expense

Zoho Expense is the business expense tracking app from the Zoho suite of business tools, which means it integrates with Zoho’s other financial management apps. It’s a very reasonably-priced platform suited to handling all aspects of expense management and reporting for SMEs.

  • Scan receipts via iOS or Android
  • Automated expense reporting
  • Pull in credit card feeds and automate reconciliation
  • Simplified and automated approval processes
  • Built-in purchase requests for increased control over expenses

Expensify

Expensify is an app to keep track of business expenses on the go. Most of the expense management functionality can be done on your phone, while a series of handy integrations help to automate and streamline processes around uploading and allocating receipts.

  • Receipt scanner in the native app
  • Credit card imports with automatic receipt merging
  • Custom approval workflows for expense policies
  • Integrates with Sage, QuickBooks, Xero and Oracle
  • Receipt integrations with Uber, Trainline, The Parking Spot, and more

QuickBooks

One of the many features of smart accounting software QuickBooks is its built-in expense management tool. There are obvious advantages to expenses being handled via your accounting platform. Its features have not been developed specifically for ecommerce, but many of them translate to ecommerce businesses.

  • Automatic organisation and matching of receipts to transactions
  • Connect your bank and credit card feeds
  • Instant sorting of expenses into the correct tax category
  • Take a photo of receipts and email to your QuickBooks account
  • In-app collaboration with your accountant

How to handle ecommerce expense management

The best way to stay on top of your expenses with the minimum commitment of time is to invest in a platform or app to keep track of business expenses. The right software for your business will depend on the type of expenses you typically incur.

For most ecommerce businesses, this will include:

  • Automatically grouping expenses in a useful or logical way
  • Reducing the time it takes to get a receipt from an inbox or account to where it needs to be
  • Automating capture and import of receipts from frequently used platforms and vendors
  • Cutting time spent downloading and allocating Google Ads receipts

The software and apps we’ve featured above have great features and tick some of the boxes, but none of them are geared solely towards ecommerce. That’s why we’ve got to throw our hat into the ring…

Juni

We know that finding an all-in-one solution for expense management is hard. That’s why we’re big fans of software that helps you to integrate the full range of platforms you need to run your business successfully. It’s also why our platform is built that way.

Cards on the table: Juni is not expense management software. But we’re all about meeting the financial needs of ecommerce businesses, which means there is considerable overlap. 

Everything we do is focused on meeting your needs as an ecommerce business owner. If most of your expenses are media buying and online transactions, Juni will give you a lot of the things you need from spend management software. Let’s take a look at some of them.

Real-time spend overview

Juni pulls all the transactions from your bank feeds, credit card transactions, payment gateways, ad networks and other accounts into a single dashboard. That means you can easily keep track of expenses in one place.

You can also attach receipts to transactions to get everything ready for your accountant or finance team. 

Multiple virtual cards

With instant virtual card creation and as many cards as you need, Juni helps you to manage your expenses at the point of spending. Assign one card to your Google Ads spend, another to Facebook Ads and a third to Amazon. Keep track of subscriptions by assigning a card to Shopify, a different one to Klaviyo, and a third to Yotpo.

Or follow electronics retailer Boltshop’s lead and create a dedicated card for each supplier. That way all expenses relating to a particular supplier are easily categorised. "Juni has massively helped us gain a new level of control over our business", says co-founder Max Bekink.

Break down your spending in whatever way works best for you, so that all related expenses are immediately grouped together on a single card.

Group and user permissions and controls

Easily give individuals or groups of employees permission to use specific cards, so you can control who can spend on each of them.

You can also place limits on specific cards, create approval flows for spend, and add notes to clarify expenses.

Up to 40 multi-currency accounts

Create as many IBAN accounts as you need as an extra way of breaking down expenses at the point of spending. Get IBAN accounts in GBP, EUR, USD and SEK* so that you can spend in the currency that makes most sense while also immediately grouping all transactions in each currency for simple expense tracking. Create up to ten accounts for each currency.

*SEK accounts currently available for EU-based companies only.

Google Ads auto-receipt matching

Perhaps the biggest waste of time for ecommerce businesses when it comes to expense management is Google Ads receipts. Searching through inboxes, clicking through to the Google Ads dashboard, downloading invoices and receipts, and assigning these to card transactions. It’s a big administrative burden if you’ve got a large number of transactions to deal with. Juni’s Google Ads integration and auto-receipt matching immediately save you a massive chunk of that time.

Discover how Juni can save you more time today

Best expense management software for ecommerce businesses
Juni
Financial platform

Juni is the financial platform built for ecommerce. We give you a unified view of your finances, with cards, mulitcurrency accounts, and banking, accounting and advertising integrations - all in one place. We can even help boost your cash flow with working capital, cashback and more.

Download our free whitepaper and gain important ecommerce and marketing insights, directly from Juni.

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Juni will not share your information with any third parties except for our verified partner network. Submit your email for even more valuable content, delivered straight to your inbox.

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