2016 Review of ExpenseWatch Spend Management

• Product is available by module, or users can purchase an fully integrated suite of applications
• Online and mobile access makes the product available anywhere/anytime
• Excellent help tools are provided for all users
• System supports unlimited approvers and allocations

Potential Weaknesses:

• Only works with Internet Explorer or Firefox browsers

From the 2016 reviews of travel expense management systems.

Basic System Functions 4.5 Stars

Offering anytime/anywhere access, ExpenseWatch is accessible from an Internet browser or a mobile phone, making it a logical solution for businesses with remote employees or multiple locations. ExpenseWatch supports both Internet Explorer 9 or higher and Firefox Version 5 or higher for PC’s, with Firefox Version 5 or higher required for Mac users. The product offers excellent security, with up-to-date firewall protection and intrusion detection systems, along with SSL encryptions and other security technologies. ExpenseWatch offers expense report management capability along with purchasing and invoice processing. Also available is the Spend Management Suite, which offers all of the modules mentioned above, as well as budget planning and reporting.

ExpenseWatch offers users a drag and drop interface for easy data management and users can easily manage receipts by snapping a photo using a mobile device, faxing the receipt, scanning the receipt, or browsing for the receipt in their system. The product will easily download credit card expenses directly into ExpenseWatch, auto-populating expense line items, while also allocating expenses across multiple departments, projects, or accounts as needed. ExpenseWatch also allows users to easily book travel, and mapping technology makes it easy to record mileage and other details about any trip. The product also contains excellent audit trail functionality, allowing managers and administrators to keep a handle on all system activity on a regular basis.

Expense & Management Functions 4.75 Stars

When setting up ExpenseWatch, managers and administrators can configure the system to reflect company policies, such as expense limits, over/under budget flags, and employee status-company role. Users can create a simple or complex approval chain, with approvals routed by a variety of criteria including users, business unit, dollar amount, or category. Expense Watch supports unlimited approvers, as well as unlimited allocations and projects. Users can also add additional approvers on the fly for a faster approval process. ExpenseWatch allows managers to easily review receipts and approve reports using the online product or the mobile app. Managers can also assign alternate approvers that are authorized to approve reports and other items should the regular approvers be unavailable. The mobile app can also be used to approve reports, invoices, and purchase orders (depending on the modules purchased), and those using the product online can quickly approve invoices or purchase orders, while also creating online purchase requisitions. Payments can be processed via ACH, as well as check or credit card, and the product offers line item approval, so users can select certain items to pay, while questioning others- eliminating payment delays. Users can also configure credit card feeds to automatically categorize credit card expenses, with the system support multiple credit card. Managers can also opt to receive notification if accepted company policy has not been filed when an expense report is submitted.

Mobile Features 4.75 Stars

The mobile app contains all of the features and functionality found in the online version of ExpenseWatch. Automated items such as bank statements and credit card feeds are available, and the Rapid Fire Receipt Capture allows users to quickly snap a photo of a receipt, which is then uploaded to a receipt queue to be used at a later time. The mobile app is available for both iPhone and Android users.

Integration Options 4.5 Stars

ExpenseWatch supports multi-currency, with the system utilizing either current or historical conversion rates. The product also offers a variety of system reports, as well as the option to create custom reports as needed. Users can also create a single report for multiple reimbursements, and all reports can be easily accessed and approved using a mobile device. The product integrates with multiple credit cards for easy expense import, with users able to auto-configure each credit card for easy import and expense management. In addition to offering a complete suite of applications, ExpenseWatch also integrates with Salesforce.com, and also offers a GL system export file to enable integration with other third-party accounting applications.

Help/Support 5 Stars

Initial product implementation includes system setup for all users, creation of approval workflows and policies, GL information and spending categories, which includes category mapping, as well as setting up any vendors or products. Both credit card and travel booking feeds are also set up during the initial implementation.

ExpenseWatch offers live, online training for all system users and administrators, with all training sessions recorded for future access if desired. The product also offers a comprehensive self-service training video library, with a variety of short videos available to guide new users through common tasks.

ExpenseWatch also offers both telephone and online support for all system users, and a knowledgebase is available to access at any time. Additional tools such as a QuickStart Guide and user tutorials are also available.

Summary & Pricing

ExpenseWatch is well suited for small to mid-sized businesses that require solid expense tracking. Its solid online/mobile functionality makes it particularly useful for companies with multiple locations or with numerous remote employees. The product is fully integrated, with users able to choose from one of the available modules, which include Expense Reports, Purchasing, and Payable Invoices. Pricing for the Expense Reports module is $8.00 to $14.00 per user. Pricing for both the Purchasing and Pay Invoices modules are $24.00 to $31.00 each – per user, per month.        

2016 Overall Rating 4.75 Stars