Best expense management software for 2025 | Airwallex vs Concur & Expensify

Managing business expenses shouldn't feel like wrestling with spreadsheets at midnight. Yet many Canadian businesses still rely on basic tools that create delays, inefficiencies, and limited oversight ¹. You're searching for expense management software that actually delivers – faster reimbursements, lower fees, and capabilities that scale globally.

The expense management landscape has transformed dramatically. Modern platforms now automate approvals, track card spend, and speed up processes that once took weeks ¹. But with options like Concur, Expensify, Ramp, and Brex flooding the market, choosing the right solution requires careful evaluation.

Understanding modern expense management needs

Expense management extends far beyond simple receipt tracking. Today's businesses need comprehensive spend management that encompasses everything from corporate cards to automated reimbursements ². The right platform transforms how your finance team operates, turning manual processes into automated workflows.

Consider what happens when employees submit expenses. Traditional systems require manual review, approval routing, and reimbursement processing – each step introducing potential delays ³. Modern expense management software eliminates these bottlenecks through intelligent automation and real-time processing.

Global businesses face additional complexity. Multi-currency transactions, international compliance requirements, and cross-border payments demand sophisticated capabilities that legacy systems simply can't provide. Companies like McLaren Racing have modernized their cross-border payments with Airwallex to handle these challenges ¹.

Comparing the major players

Concur: The enterprise heavyweight

Concur dominates the enterprise expense management space with comprehensive features and deep integrations. Their platform handles everything from travel booking to expense reporting, making them attractive for large organizations with complex needs.

However, Concur's enterprise focus comes with trade-offs. Implementation often requires months of setup and training. The user interface, while powerful, can overwhelm smaller teams. Pricing reflects their enterprise positioning – expect significant upfront costs plus ongoing fees that scale with usage.

For businesses operating internationally, Concur's foreign exchange handling becomes a pain point. Their markup on currency conversions adds hidden costs to every international transaction, particularly challenging for companies with global operations.

Expensify: The user-friendly option

Expensify built its reputation on simplicity. Their SmartScan technology revolutionized receipt capture, and their mobile-first approach appeals to modern workforces. Setup takes minutes rather than months, making them popular with startups and small businesses.

Yet simplicity has limitations. Expensify's approval workflows lack the sophistication many growing businesses need. Their reporting capabilities, while adequate for basic needs, don't match enterprise-grade alternatives. International features feel bolted on rather than built in – a significant drawback for globally ambitious companies.

Pricing starts attractively but scales quickly. What begins as an affordable solution can become expensive as your team grows and needs evolve.

Ramp: The spend control specialist

Ramp positions itself as more than expense management – they're building comprehensive spend control. Their corporate cards come with built-in controls, and their platform emphasizes cost reduction through automated savings identification.

Their US focus creates challenges for international businesses. While Ramp excels at domestic expense management, cross-border capabilities remain limited. Canadian businesses, in particular, find themselves navigating workarounds for basic functionality.

Ramp's aggressive growth strategy means rapid feature development but also frequent changes. What works today might look different tomorrow – potentially disrupting established workflows.

Brex: The startup favorite

Brex targets high-growth technology companies with tailored features and flexible underwriting. Their corporate cards don't require personal guarantees, and their expense management integrates seamlessly with their broader financial platform.

Like Ramp, Brex focuses primarily on the US market. International capabilities exist but feel secondary. Their pricing model favors larger accounts, potentially pricing out smaller businesses despite their startup-friendly positioning.

Brex's rapid evolution means impressive innovation but also instability. Features appear and disappear, pricing changes frequently, and long-term reliability remains uncertain.

Airwallex: Built for global business

Airwallex approaches expense management differently. Rather than retrofitting domestic systems for international use, we built global capabilities from day one. Our platform handles multi-currency transactions natively, processes international payments efficiently, and manages cross-border complexity seamlessly ⁴.

Comprehensive expense management features

Our expense management system provides end-to-end functionality for modern businesses ⁴. Corporate cards issue instantly with customizable spending controls. Employees submit expenses through our mobile app with automatic receipt capture and categorization. Managers approve expenses in real-time with configurable workflows.

Reimbursements process faster through our integrated payment infrastructure. Rather than waiting days or weeks, employees receive funds quickly through our automated systems ⁵. This speed improves employee satisfaction while reducing administrative burden.

Our multi-currency corporate cards eliminate foreign transaction fees ⁵. Employees spend in local currencies without worrying about exchange rates or hidden charges. Real-time spending notifications keep everyone informed, preventing surprises at month-end.

Global-first architecture

Airwallex offers global accounts that receive funds in multiple currencies ⁴. This eliminates constant currency conversion and reduces foreign exchange costs. Our high-speed international transfers move money quickly across borders ⁴.

Companies like RYSE have transformed their complex cross-border finances into streamlined, cost-saving operations with our platform ¹. They've eliminated manual processes, reduced costs, and gained real-time visibility into global spending.

Our bill pay functionality extends beyond expense management to handle accounts payable automation ⁴. Vendors get paid on time in their preferred currency while you maintain complete control over cash flow.

Integration and scalability

Airwallex integrates with your existing financial stack through robust APIs and pre-built connectors. Whether you're using QuickBooks, Xero, NetSuite, or custom systems, our platform fits seamlessly into your workflows ⁵.

We serve diverse industries including eCommerce, professional services, travel, SaaS platforms, and marketplaces ¹. Each industry faces unique challenges – we've built flexibility to address them all.

Scaling happens automatically. Start with basic expense management and add capabilities as needed. Our platform grows with your business, from startup to enterprise, without forcing migrations or disruptions.

Key factors for choosing expense management software

Total cost of ownership

Look beyond subscription fees. Consider implementation costs, training requirements, and ongoing support needs. Hidden foreign exchange markups can dwarf published pricing for international businesses. Calculate the true cost including all fees, markups, and operational overhead.

Airwallex maintains transparent pricing without hidden charges. Our competitive foreign exchange rates save money on every international transaction. Implementation happens quickly without expensive consultants or lengthy training programs.

User experience and adoption

The best features mean nothing if employees won't use them. Evaluate mobile apps, submission workflows, and approval processes from the user perspective. Complex systems face resistance regardless of capability.

Our platform prioritizes user experience without sacrificing functionality. Employees submit expenses in seconds through our intuitive mobile app. Managers approve with one click. Finance teams access comprehensive reporting without wrestling with complicated interfaces.

International capabilities

Global ambitions require global infrastructure. Evaluate how each platform handles multi-currency transactions, international payments, and cross-border compliance. Domestic-first systems create friction as you expand internationally.

Airwallex provides native global capabilities. Multi-currency accounts, international transfers, and local payment methods come standard ⁵. We handle compliance complexity so you focus on growth.

Automation and efficiency

Manual processes kill productivity. Modern expense management should automate receipt capture, expense categorization, approval routing, and reimbursement processing. Look for intelligent automation that learns from your patterns.

Our platform automates the entire expense lifecycle. Smart categorization reduces manual entry. Configurable approval workflows route expenses automatically. Integrated payments process reimbursements without intervention ⁶.

Implementation and migration strategies

Planning your transition

Successful implementation starts with clear objectives. Define what success looks like – faster reimbursements, better visibility, reduced costs, or improved compliance. Map current processes to identify pain points and improvement opportunities.

Create a phased rollout plan. Start with a pilot group to test workflows and gather feedback. Expand gradually while refining processes. This approach minimizes disruption while ensuring smooth adoption.

Data migration considerations

Historical expense data provides valuable insights. Determine what data needs migration versus what can archive. Clean data before migration to avoid importing problems into your new system.

Airwallex supports various import formats and provides migration assistance. Our team helps map data fields, validate imports, and ensure continuity. You maintain historical visibility while gaining modern capabilities.

Training and adoption

Employee buy-in determines success. Communicate benefits clearly – faster reimbursements, easier submission, mobile convenience. Provide hands-on training focused on common scenarios rather than feature lists.

Our intuitive interface reduces training requirements. Most users become proficient within hours, not days. We provide comprehensive documentation, video tutorials, and responsive support to ensure smooth adoption.

Maximizing value from your expense management platform

Establishing effective policies

Clear expense policies prevent confusion and ensure compliance. Define acceptable expenses, spending limits, and approval hierarchies. Build these rules into your platform for automatic enforcement.

Airwallex enables granular policy configuration. Set spending limits by category, merchant, or time period. Create approval workflows that match your organizational structure. Automatic policy enforcement reduces manual review while ensuring compliance.

Leveraging analytics for insights

Expense data reveals spending patterns, identifies savings opportunities, and informs strategic decisions. Look for platforms providing actionable insights, not just raw data.

Our comprehensive reporting illuminates spending trends across departments, categories, and vendors. Identify cost-saving opportunities through spend analysis. Track policy compliance and flag anomalies automatically. Real-time dashboards keep stakeholders informed without manual report generation.

Continuous optimization

Expense management isn't set-and-forget. Regular reviews identify optimization opportunities. Monitor adoption rates, processing times, and user feedback. Adjust policies and workflows based on actual usage patterns.

Airwallex provides usage analytics to guide optimization. See which features drive value and where friction exists. Our customer success team shares best practices from similar businesses. Continuous platform updates deliver new capabilities without disruption.

Industry-specific considerations

Professional services firms

Consultancies, agencies, and professional services firms face unique challenges. Client billable expenses require accurate tracking and allocation. Project-based budgets demand real-time visibility. Multi-jurisdiction operations create tax and compliance complexity.

Airwallex addresses these needs through flexible categorization, project tracking, and client billing integration. Our global infrastructure handles multi-jurisdiction complexity seamlessly ¹.

E-commerce and retail

Online retailers manage supplier payments, inventory purchases, and operational expenses across multiple channels and currencies. Speed matters when managing cash flow and supplier relationships.

Our platform streamlines supplier payments through automated accounts payable ⁵. Multi-currency accounts eliminate conversion costs on international purchases. Real-time expense tracking maintains cash flow visibility across all operations.

Technology and SaaS companies

Fast-growing technology companies need expense management that scales. Remote teams require mobile-first solutions. International expansion demands global capabilities from day one.

Airwallex grows with technology companies from startup to scale-up. Our APIs enable custom integrations with existing tools. Global infrastructure supports international expansion without platform changes ¹.

Making your decision

Choosing expense management software impacts your entire organization. Consider immediate needs while planning for future growth. Evaluate total costs including hidden fees and operational overhead. Prioritize user experience to ensure adoption.

For businesses with global ambitions, international capabilities prove critical. Domestic-first platforms create friction as you expand. Choose infrastructure that supports your growth trajectory without forcing future migrations.

Airwallex delivers comprehensive expense management with native global capabilities. We eliminate the trade-offs between functionality and usability, between domestic efficiency and international reach. Our platform scales with your business while reducing costs and improving control.

Transform your expense management from administrative burden to strategic advantage. Join companies like McLaren Racing and RYSE who've modernized their financial operations with Airwallex ¹. Experience faster reimbursements, lower fees, and capabilities that actually deliver on their promises.

The future of expense management has arrived. While legacy providers struggle with international complexity and new entrants focus on narrow use cases, Airwallex provides the comprehensive, global-first platform modern businesses need. Make the choice that positions your business for sustainable growth and operational excellence.

FAQ

What makes Airwallex different from traditional expense management software like Concur and Expensify?

Airwallex offers native global capabilities with multi-currency support, faster reimbursements, and significantly lower fees compared to traditional platforms. Unlike Concur and Expensify, which often require third-party integrations for international transactions, Airwallex provides built-in global payment processing and real-time expense tracking across multiple currencies.

How does expense management software simplify the company expense process?

Modern expense management software automates receipt capture, streamlines approval workflows, and integrates with accounting systems to eliminate manual data entry. According to Airwallex research, businesses can reduce expense processing time by up to 75% while improving accuracy and compliance through automated categorization and policy enforcement.

What is the difference between expense management and spend management?

Expense management focuses on tracking and reimbursing employee expenses after they occur, while spend management takes a proactive approach to control spending before it happens. Spend management includes budgeting, procurement controls, and real-time spending limits, offering more comprehensive financial oversight than traditional expense management alone.

Which expense management software offers the fastest reimbursement process in 2025?

Airwallex leads in reimbursement speed with same-day processing capabilities, while traditional platforms like Concur and Expensify typically take 3-5 business days. Ramp and Brex offer next-day reimbursements, but Airwallex's global payment infrastructure enables faster international reimbursements with lower foreign exchange fees.

What are the key features to look for in expense management software for Canadian businesses?

Canadian businesses should prioritize multi-currency support, CRA compliance features, integration with Canadian accounting software, and competitive foreign exchange rates. The software should also offer mobile receipt capture, automated mileage tracking, and real-time expense reporting to streamline operations across different provinces and international markets.

How do reimbursement processes work with modern expense management platforms?

Modern reimbursement systems automate the entire process from expense submission to payment. Employees submit expenses through mobile apps, managers approve digitally, and payments are processed automatically through integrated banking systems. Advanced platforms like Airwallex can process reimbursements in multiple currencies and offer various payment methods including direct deposit and corporate cards.

Citations

1. https://www.airwallex.com/ca/blog/expense-management-software-tools

2. https://www.airwallex.com/ca/blog/spend-management-what-is-it

3. https://www.airwallex.com/ca/blog/what-is-reimbursement

4. https://www.airwallex.com/ca/spend-management/expense-management

5. https://www.airwallex.com/ca/business-account/expenses

6. https://www.airwallex.com/ca/blog/simplify-company-expense-process