Flexibility as standard: scale up with Expend in 2020
Between them, the Xero and QuickBooks Online app marketplaces feature a whole load of accounting software apps — almost 1,000 in fact! The majority of these apps focus on completing or simplifying a single task such as PrePaid payment cards, expense management or Invoice scanning.
There are already many well known apps in their respective categories, and you would be forgiven for thinking that it could be challenging for new entrants to get a strong footing and gain traction.
But things are changing…and fast.
Can one platform rule them all?
Over the past couple of years, we’ve seen different app categories across finance start to merge — opening up a whole new path for hybrid all-in-one apps to enter (and even lead) the marketplace.
Take expenses software, spend management tools and mileage tracking apps. All are firmly established categories in their own right, which are widely used by accountants, finance teams and business owners.
But imagine how much simpler and quicker it would be if you could manage ALL of this through a single app.
Expend’s award-winning expense management software incorporates all these features into one platform. From reimbursable claims and invoices to card purchases and mileage claims — Expend lets you do it all!
So, why keep paying for multiple tools?
By combining expense software with quality spend management tools, Expend has created an unrivalled expense management solution — which gives business owners the flexibility they need to scale up their companies.
Through the Expend app, employees can easily submit any expense from any payment type, on the go on any device. Finance teams can then view and process expenses in seconds through the simple review system and customise reports in real time.
Mileage claims and reports have never been easier either. Employees can submit trip reports in seconds by searching the database, selecting their company’s customised policy rate and entering their journey details. Then, Expend will do the rest — creating the journey map and calculating the distance and value, as well as adding VAT.
While our optional smarter Prepaid Mastercard also allows businesses to control and manage employee spending in real-time.
For accountants, Expend’s seamless QuickBooks and Xero integrations are also in a league of their own — syncing all expenses and transaction data seamlessly into their chosen accounting software. All changes are also updated automatically, even when adding a lost receipt from months ago.
What does all this mean for accountants and business owners?
Advancements in multi-function apps pose a number of significant opportunities for businesses. Using the same app on a company-wide level just makes sense — in terms of training, productivity and, of course, costs.
But above all, a single solution will save masses of time — something business owners and accountants have very little of to spare.
Ultimately, business owners stand to win the most from the merging of app features. By utilising apps such as Expend, business owners will be able to define their company’s financial performance further, as they spend less time worrying about the day-to-day admin tasks and more time growing their business with a tool that grows with them.
However, accountants also have a lot to gain. Through an all-in-one solution, accountants will be able to streamline processes, freeing them from under the endless mountain of receipts and mind-numbing expenses. Meaning more time working on lucrative strategies that can help to scale up their clients’ businesses instead.
As the finance software as a service (FinSaas, if you like) marketplace continues to evolve, accountants, in particular, will need to keep on their toes to ensure their firms stay plugged into the latest apps that best fit their target sectors.
And if they can bring this knowledge to their clients, even better. They’ll be in exceptionally high demand and suitably placed to start reaping the full benefits of these all-new hybrid apps.
The flexible, multi-feature app revolution is only just beginning. So, are you ready for it? Join thousands of Expenders today and take the time and effort out of your business admin — leaving you free to focus on scaling up instead.
Written by Adam Clarke
I'm the Marketing and Partnership Manager at Expend. When I'm not fighting expenses admin with our amazing solution, you can find me eating my way around London's food scene.