8 best expense management software in Malaysia (2026)

Key takeaways:

• Expense management software helps Malaysian businesses automate receipt tracking, approvals and reimbursements.

• The best platforms for Malaysian companies support mobile receipt capture, clear approval workflows, SST handling and fast ringgit reimbursements.

• Airwallex combines Corporate Cards, Expense Management and multi-currency accounts in one platform, with 0% international transaction fees on card spend and fast ringgit reimbursements to Malaysian bank accounts.

Managing business expenses in Malaysia often means chasing receipts, checking sales and service tax (SST) and handling claims in multiple currencies.

In this article, we’ll show how expense management software can automate your workflow and do the heavy lifting for your finance team. We’ll also compare eight leading platforms so you can choose the right fit for your team.

What is expense management software in Malaysia?

Expense management software is a digital platform helps you handle employee spending from start to finish, from capturing receipts to approving claims and reimbursing staff. Your employees just snap a photo of their receipt and upload it, and the software automatically extracts the key details. This cuts down on manual data entry and speeds up the whole process.

You can also set up approval flows based on your company policies, so expenses get reviewed before reimbursements go out. For Malaysian businesses, this typically includes handling SST on eligible claims, paying reimbursements in MYR through local banking networks, and keeping your records ready for e-invoicing requirements.

If your business operates internationally, multi-currency support is also essential. Your software should let your employees record expenses in the currency they spent, like SGD, THB, or USD, while still letting you report in ringgit for accounting and budgeting purposes when needed.

Which expense management software is best for Malaysian businesses?

The eight platforms below represent the strongest options for Malaysian businesses, each offering different strengths for specific use cases.

Here’s a quick overview of the different options, before we go into the details.

The information in this table has been reviewed to be accurate as of 16 February 2026.

1. Airwallex 

Airwallex combines Corporate Cards, Expense Management, and multi-currency accounts in one platform designed for businesses operating across borders.

You can issue physical and virtual corporate cards to your team with zero international transaction fees – so when employees spend in SGD, THB, or USD, they pay only what they’ve spent, without the FX markups most banks charge.

Submitting expenses is simple: employees can do this through the mobile app in seconds, by snapping a photo of their receipt. The system automatically extracts the details, categorises spending based on past activity, and routes approvals according to your workflow. At the same time, your finance team gets real-time visibility into spending across all cards and currencies from a single dashboard.

Reimbursements go out through local Malaysian banking rails and typically arrive in employee accounts the same day, helping you close expenses quickly.

What makes Airwallex different:

• 0% international transaction fees: Issue unlimited virtual and physical cards with customisable spending limits and merchant category restrictions

• Multi-currency support: Hold and spend in 20+ currencies 

• Same-day RM transfers: Reimburse employees through local Malaysian payment rails such as DuitNow and IBG/GIRO

• Accounting integrations: Transactions sync automatically with Xero, QuickBooks, and NetSuite

2. Zoho Expense

Zoho Expense is best suited for teams already using the wider Zoho ecosystem, with native integrations into tools like Zoho Books and Zoho CRM. The platform streamlines how employees capture and submit expenses through mobile receipt scanning, while finance teams can manage mileage claims and per diem allowances from a single interface.

It supports multi-level approval workflows and built-in policy enforcement, automatically flagging expenses that fall outside company spending rules. Zoho Expense also handles multi-currency transactions for businesses operating across borders, although currency conversions are processed at Zoho’s internal rates rather than interbank rates, which may result in higher FX costs. 

3. Xero Expense

Xero Expense is built directly into the Xero accounting platform, making it a natural choice for businesses already using Xero for bookkeeping. Employees can capture receipts through the Xero mobile app, which automatically matches expenses to bank feed transactions, reducing manual reconciliation.

The platform supports approval workflows, mileage tracking, and multi-currency expense claims. Once approved, expenses automatically generate journal entries, update budgets, and flow into financial reports without the need for manual data transfers. 

However, Xero Expense doesn’t offer native corporate card functionality, so businesses still need to issue and manage company cards separately through their bank. 

4. Expensify

Expensify is known for its SmartScan technology, which uses advanced optical character recognition (OCR) to accurately extract transaction details – even from crumpled or faded receipts. 

The mobile-first platform makes it easy for employees to submit expenses quickly, while automated policy enforcement flags any violations before expenses reach approvers, reducing errors and back-and-forth.

Employees can also forward receipt emails directly to Expensify, which automatically creates expense reports. For Malaysian businesses with frequent international travel or regional operations, Expensify supports multi-currency expenses and tracks mileage across different countries, helping finance teams maintain visibility and control over cross-border spending.

However, while Expensify excels at receipt capture and reporting, it doesn’t provide native corporate cards or full accounts payable automation, meaning businesses still need separate tools for card management and vendor payments.

5. SAP Concur Expense

SAP Concur Expense provides enterprise-grade expense and travel management, designed for larger Malaysian businesses that need robust controls across multiple departments or business units. The platform combines expense reporting, travel booking, and invoice management in a single system, giving finance teams a central view of spending and policy compliance.

Concur’s strengths include strong audit trails, sophisticated approval hierarchies, detailed policy enforcement, and integrations with major enterprise resource planning (ERP) systems like SAP and Oracle, making it easier to track and report expenses across complex organisations.

However, Concur’s enterprise focus comes with higher costs and longer implementation times. For smaller companies or teams with lighter travel and expense needs, the platform can feel overly complex and may include features that you rarely use.

6. Rydoo

Rydoo combines expense management with travel integration, making it a strong choice if your employees travel frequently for work. The platform offers real-time expense reporting, automated receipt matching, and connects with major travel booking systems, so your finance team can track spend and enforce policies without chasing receipts.

Employees can submit expenses immediately after transactions, while managers can review and approve claims on the go through the mobile app. Real-time reporting gives you instant visibility into spending patterns and budget utilisation, helping you stay on top of company expenses.

While Rydoo is strong in travel management, it lacks built-in corporate cards, multi-currency expense support, and advanced accounts payable features. You’ll still need additional tools if your business has broader spend management needs.

7. Swipey

Swipey is a Malaysia-focused expense management solution offering local Visa corporate cards alongside standard expense tracking features. The platform provides a central dashboard for monitoring spend, supports bill payments, and integrates directly with Malaysian banking networks, making reimbursements and vendor payments straightforward.

Its corporate cards come with custom spending controls and real-time transaction notifications, giving finance teams visibility and control over employee spending. You can also pay suppliers directly through the platform, simplifying day-to-day operations.

While Swipey works well for businesses operating primarily in Malaysia, it has limited support for multi-currency expenses and regional operations. 

8. QuickBooks Online expense tracking

QuickBooks Online includes built-in expense tracking features, making it a convenient choice for small Malaysian businesses already using QuickBooks for accounting.

The platform imports transactions automatically through bank feeds, lets employees organise receipts with mobile photo capture, and provides basic expense categorisation. Approved expenses sync directly with your QuickBooks accounting records, simplifying month-end reconciliation and reducing manual data entry.

However, QuickBooks Online doesn’t offer advanced capabilities like corporate card issuance, multi-level approval workflows, or AI-powered receipt processing. Businesses with more complex spend management needs, or teams looking for automated multi-currency handling, may need a more specialised solution.

8 key expense management software features for Malaysian businesses

Malaysian businesses need expense management software that handles both local requirements and regional operations.

Here are the eight key features to look for when evaluating platforms for your business, starting with the basics and moving on to international capabilities and advanced reporting:

1. Mobile receipt capture and OCR

The core function of any expense management software is to let your employees submit expenses instantly (typically via a mobile app). Today, almost every platform also uses OCR to pull key details from receipts automatically, so your team doesn’t have to type anything manually.

2. Approval workflows and policy controls

Modern expense management software commonly include multi-level approval workflows that route expenses to the right manager based on amount thresholds, expense categories, or department budgets.

Policy controls should automatically flag any expenses that violate company rules, such as exceeding daily meal allowances or booking business-class flights against policy.

3. SST tax handling and e-invoicing alignment

All Malaysian businesses need to stay compliant with tax rules, so your platform should automatically identify SST-inclusive receipts, separate tax amounts from base costs, and keep accurate records for audits. This ensures expense data flows correctly into accounting systems and simplifies reporting during tax season.

Now that Malaysia has rolled out e‑invoicing through the MyInvois system, businesses above the turnover threshold⁸ need platforms that can record and report expenses in the required e‑invoice format for compliance.

4. Corporate cards and 0% international fees

For businesses that issue corporate cards to employees, your platform should offer real-time spending controls, customisable limits by card, merchant category, or time period, and the ability to issue virtual cards for one-time or subscription payments.

0% international transaction fees are a big plus, so you don’t pay extra when making foreign currency purchases like software subscriptions, online ads, or travel.

5. Multi-currency support

If you operate internationally, you need software that handles multiple currencies without forcing unnecessary conversions. Your employees should be able to submit expenses in the currency they actually spent, whether that’s Singapore dollars for a client meeting or Thai baht for a Bangkok conference.

6. Fast ringgit reimbursements

For businesses that reimburse employees in Malaysia, a platform should integrate with local banking networks to process payments quickly. Using local payment rails, reimbursements can reach employee accounts within hours rather than days.

This speeds up cash flow for employees and reduces follow-ups for your finance team, making the whole reimbursement process smoother and more reliable.

7. Accounting integrations

For businesses that want to streamline bookkeeping, a platform should integrate with major accounting systems like Xero, QuickBooks, or NetSuite. Approved expenses should automatically create journal entries with the correct categories, cost centres, and tax codes, reducing manual data entry and reconciliation time.

8. Multi-entity visibility and reporting

If you operate multiple subsidiaries or regional offices, you need consolidated reporting across all entities while keeping separate accounting records for each. Your finance team should be able to see total spending in one dashboard, then drill down to specific subsidiaries, departments, or cost centres.

Why Airwallex for multi-currency expense management

We built our expense management platform for businesses that operate across borders, bringing Corporate Cards, expense tracking, and multi-currency accounts into a single system.

This means you don’t have to juggle separate tools for corporate cards, expenses, and international payments – everything is managed in one place.

Issue corporate cards and control spend in real time

Airwallex Corporate Cards give you full control over company spending with customisable limits, merchant category restrictions, and real-time transaction notifications. You can create unlimited virtual cards for online subscriptions or one-off vendor payments and freeze or delete them whenever needed.

With 0% international transaction fees, employees pay the actual foreign currency amount without the hidden markups most banks charge.

Automate receipts, categorisation, and approvals with AI

Airwallex uses AI-powered OCR to extract transaction details from receipt photos, even if they’re crumpled or in different languages. The system automatically categorises expenses based on your past spending and company policies, and it learns from corrections to get smarter over time.

Approval workflows send expenses to the right managers based on amount, category, or department without any manual intervention. This significantly reduces the time your finance team spends on expense processing.

Reimburse in RM quickly with local payment rails

Airwallex processes ringgit reimbursements through Malaysian local payment networks such as DuitNow and IBG instead of slower international wire transfers. When you approve an expense in the morning, employees often receive their reimbursement the same afternoon.

Sync expenses to Xero, QuickBooks, and NetSuite

Airwallex integrates with major accounting platforms so approved expenses automatically create journal entries with the right categories, cost centres, and tax codes. Bank feed transactions match to expense records without manual reconciliation, saving your finance team time.

For Malaysian businesses, this means SST amounts flow correctly into your accounting records, expense categories align with your chart of accounts, and month-end close processes finish faster.

Frequently asked questions (FAQs)

Do Malaysian businesses need to track SST on expense claims?

Only businesses that are SST‑registered or that cross the SST turnover thresholds are legally required to account for SST on expense claims. If your business falls into this category, your expense management software should automatically identify SST-inclusive receipts, separate the tax from the base cost, and record it correctly in your accounting system. Even if you’re not SST-registered, tracking tax components can still help with accurate bookkeeping and reporting.

How fast do reimbursements reach Malaysian bank accounts?

Reimbursements can reach Malaysian bank accounts the same day when using platforms that process payments through local rails instead of international wire transfers. Airwallex, for example, routes approved expenses through Malaysian banking networks, so employees who submit receipts in the morning can often see their ringgit reimbursements by the afternoon

Will Malaysia's e-invoicing requirements affect expense management?

Yes, Malaysia’s phased e‑invoicing rules require businesses above specific turnover thresholds to issue and report invoices electronically through the MyInvois system. Large businesses with over RM100 million in annual turnover started reporting from 1 August 2024, those with RM25 million + from 1 January 2025, RM5 million + from 1 July 2025, and RM1 million + from 1 January 2026¹. Your expense management platform should be able to capture and report expenses in the formats required for compliance.

Can Malaysian businesses get virtual corporate cards?

Yes, Malaysian businesses can issue virtual corporate cards through many modern expense management platforms. These cards can be created instantly for online subscriptions, one-off vendor payments, or specific projects, with customizable spending limits and merchant category controls. Airwallex lets you issue unlimited virtual cards with 0% international transaction fees, all managed from a single dashboard.

Does expense software support spending in multiple currencies without conversion?

Yes, many modern expense management platforms allow employees to submit expenses in the currency they actually spent, whether it’s Singapore dollars, Thai baht, or US dollars. Airwallex supports 20+ currencies, so your team can record and track international expenses without unnecessary conversions, while still generating accurate ringgit reports for accounting.

Sources:

1. https://www.zoho.com/en-sg/expense/

2. https://www.xero.com/sg/accounting-software/claim-expenses/

3. https://www.expensify.com/

4. https://www.concur.com.sg/

5. https://www.rydoo.com/

6. https://swipey.co/

7. https://quickbooks.intuit.com/sg/expense-tracker/

8. https://myeinvois.my/e-invoicing-in-malaysia-everything-you-need-to-know

This publication does not constitute legal, tax, or professional advice from Airwallex nor substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Malaysia) Sdn Bhd is licensed in Malaysia as a MSB Class B (remittance business only) licensee and is regulated by Bank Negara Malaysia (licence number 00318).