2017 Review of ExpensePoint

From the 2017 reviews of Expense Management systems and apps.

ExpensePoint is an automated expense management application that is a good fit for small to mid-sized organizations that prefer a more hands-on approach to expense entry, but also desire mobile capability. The product can be accessed online, installed on a desktop computer or users can opt to use the new mobile phone app that increases system functionality considerably. The mobile app allows users to perform the same functions on a mobile device that are performed on the regular online version. The mobile app allows users to record expenses immediately, with the option to take a photo or add an image directly to each expense entered. It’s important to note that data on the receipt is not automatically read via OCR capability, but instead saved as an image to attach to a receipt.

ExpensePoint allows administrators to create user profiles for each ExpensePoint user, setting permissions and adding each user to a group, if desired. Users can also be linked to more than one group, if necessary.

ExpensePoint supports multi-currency, automatically converting any expenses into the preferred currency when expense reports are processed. Users can track mileage in ExpensePoint in two ways; by entering the total number of miles in the expense report, or by using the ‘add route’ option, where users add a start and end point. This option then creates a map with the total number of miles calculated. The map image can then be added to the expense report if desired.

ExpensePoint contains the ability to download credit card transactions, with administrators opting to download all related credit card expenses manually, or have them downloaded automatically by the credit card company or bank. Transactions can be downloaded in specified intervals including daily, weekly, or monthly. Once the transactions are downloaded, users can choose the transactions they wish to include on their expense report; filling in any additional fields as needed.

ExpensePoint users can set as many approvers as they desire, with workflow rules automatically approved reports to the next approver. Approvers can decline line items in any report submitted for approval, with the balance of expenses forwarded to the next approver as needed.

Users can also set any number of conditions and rules when setting up ExpensePoint, including the ability to set preferred vendors, create spending limits, set conditions by user and notate infractions. A no-fee MasterCard is also available to utilize in order to manage employee spending by setting cash limits on the card.

Any policy violation will be red-flagged on an expense report, with approvers being notified of any infractions immediately. Approvers then have the option to approve the expense anyway, send a message or question to the specific employee, or decline to approve the expense.

Expense reports are not automatically created, so users will need to choose the option to create a new report. Users can create as many expense reports as needed. Though the application has the ability to upload receipt images, the images serve as an attachment to the expense that is entered manually.

The Analysis Manager is where users can choose from a variety of standard reports which are included in the product. Available reports include Approval Analysis, Currency Analysis, Credit Card Payment Analysis, and Expense Analysis. A custom reporting option is also available. All reports can be exported to Microsoft Excel, as a CSV file, or saved as a PDF file.

Custom integration between ExpensePoint and third party accounting applications such as QuickBooks, Sage, and Microsoft Great Plains is offered, and the Importer and Xporter feature provides users with the tools to easily import and export data files as needed.

ExpensePoint offers excellent help and support options, including a downloadable user guide, an administrator’s guide, and a selection of training videos. Web-based training is also available. Each new user is assigned their own support agent, making it easy to route questions. Product support is available through the ExpensePoint website or by email. Toll-free telephone support is also available during regular business hours.

ExpensePoint is a good option for small to mid-sized organizations that prefer a more hands-on approach when preparing expense reports. For those that prefer a more automated version, the new mobile app is available which combines the two options well. ExpensePoint offers those interested in the product a free 15-day trial, with regular pricing running $7.50 per month.

2017 Rating – 4.5 Stars