2016 Review of Expensify Travel Management System

• Product is affordably prices, with three versions available with increased functionality in each version
• Users can use the online version of the product, or opt for the mobile app
• Product offers a good selection of custom reporting options
• In addition to tracking expenses, users can also track mileage and time

Potential Weaknesses:

• Product support is only available through email and chat

From the 2016 reviews of travel expense management systems.

Basic System Functions 4.5 Stars

Expensify is a user-friendly, yet comprehensive expense management program that offers solid integration with a variety of third-party accounting applications, simplifying the expense tracking and reimbursement processing considerably.   Though users can process receipts through the program interface, users are offered the option to enter their mobile number to receive the mobile app, where they can simply snap a photo of a receipt and upload to the system. The online user interface offers access to system functions such as Inbox, Expenses, Receipts, Reports, and Admin.

Expense & Management Functions 5 Stars

Expensify takes expense automation to a new level with the product able to automatically submit scanned or uploaded receipts for approval. The product also contains a rapid reimbursement system, where employees can be reimbursed for approved expenses within 24 hours of expense approval, with funds deposited directly to the employee bank account. Managers and accountants can create custom policies for a variety of categories, including Expenses, Reports, People, Reimbursement, Travel, and Per Diem. Creating the policies ensures that receipts and reports are routed to the correct individuals, and reimbursements are handled on a timely basis. Users can also set up multi-stage approval workflow, to ensure that all relevant personnel receive documents on a regular basis. Expensify offers company card management, multi-currency capabilities, and is currently compatible with over 160 currencies, and also offers users the ability to rebill customers for expenses. The product also pairs with travel industry giants such as NexTravel, and Egencia to consolidate travel bookings and expenses.

Managers can choose to flag all policy violations, if desired, and Expensify also offers automatic accounting sync, which allows and updates or changes made in an accounting application to be directly reflected in Expensify as well. Reporting options are good in Expensify, with users able to export reports directly to a PDF file or spreadsheet for further customization. And accountants will appreciate the full audit trail, as well as the ability to provide auditors with system access when necessary.

Mobile Features 5 Stars

Using SmartScan technology, Expensify allows users to simply snap a photo of any receipt. The image is automatically uploaded into Expensify. Once uploaded, SmartScan will fill in all relevant details. Using the mobile app, users can also use the system via their mobile phone to enter expenses, as well as having the option to categorize the expense and add it to applicable expense report. Time tracking, mileage and distance tracking and trip itinerary information can also all be tracked using a mobile device.

Integration Options 5 Stars

In addition to receipt management, Expensify allows users to easily import all banking and credit card statements for easy expense reconciliation. In addition to tracking general expenses, the New Expense option in Expensify also allows users to easily track other expenses such as mileage, with a mileage receipt automatically created. In addition to mileage, employees can also track their time, noting whether the time is reimbursable or billable. Users can also enter data into the product offline, with all information later synced with product.   Expensify offers excellent integration capability with a wide variety of applications including QuickBooks, Xero, NetSuite, Intacct, Oracle, SAP, Sage, Microsoft Dynamics, FinancialForce, TSheets, tripcatcher,and NexTravel. Users will also appreciate the product’s ability to import receipts directly from UBER, Revel Systems, Scan Snap, Hotel Tonight, and SaneBox.

Help/Support 4.5 Stars

The Help section of Expensify’s website provides users with a variety of help and training tools. The Getting Started option provides new users with the basics for getting the product up and running, and The Perfect Setup provides users with all the information they need to automate the system. A variety of training videos are also available for users to access and a series of popular topics provides users with additional information for a variety of product categories.

Users requiring additional help can contact Expensify support staff via email, with a response within 24 hours guaranteed.

Summary & Pricing

Expensify is well suited for businesses of all sizes, with three editions available for users to choose from, with the ability to scale up to the next level when needed. The Individual plan offers limited functionality and is well suited for micro-businesses, with 10 free SmartScans per month, as well as access to the free mobile app and unlimited receipt storage. The Individual plan is available at no cost. For businesses with more than a single user, the Team plan is available for $5.00 per user per month, and offers unlimited SmartScans, as well as online next day ACH expense reimbursement, and direct integration with QuickBooks and Xero, as well as email/chat product support. The Corporate plan is $9.00 per user per month, and offers all of the features mentioned, as well as advanced policy enforcement, multi-stage approval workflow, and direct integration with a variety of third party applications.

2016 Rating 4.75 Stars