Expense management software is a complete solution that organizations utilize to organize, pay, and monitor their business expenses. Specifically, such expenses include leisure and company transport. In addition, business owners often use them to control and track their corporate expenses. The top advantages of expense management software include automating payment, itemized data entry, and invoice monitoring. Most businesses are moving toward this platform for the application's simple usability. This enables companies to evaluate and simplify the repayment method. Expense management software also helps in the cost-management process to avoid possible errors and forgery.
360Quadrants has recognized and listed several vendors, providing the best expense management software to help clients make strategic business decisions. These quadrants are created after in-depth vendor evaluation, providing a complete set of features and go-to-market strategies for growth in the market. The quadrants are updated in the expense management software space every three months which includes enhanced analysis of the vendors’ strategies and performance by skilled researchers and analysts.
360Quadrants performs a detailed SWOT evaluation and correctly analyzes the vendors picked for selection. This assessment helps companies obtain information about potential market opportunities and trends so that they can adopt the strategies needed for growth and progress in the industry. 360Quadrants offers a detailed list of leading companies which simplify the vendor selection process.
Quadrant Categorization for Expense Management Software
360Quadrants analyzes 25 vendors in the expense management software space and 11 vendors are displayed on the quadrant as Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Companies.
SAP Concur, Zoho Expense, Expensify, ReceiptBank, and Paycom were recognized as visionary leaders and placed on the quadrant in the expense management software space.
Deem has been described as an innovator in the expense management software space.
Happay, Fyle, and PEX are identified as emerging companies in the expense management software space.
Divvy and Expend have been categorized as dynamic differentiators in the expense management software space.
360Quadrants Assessment Method
Top vendors in expense management software are usually recognized to be placed in a quadrant by researchers and industry experts after undertaking a significant amount of research. The vendor evaluation is done based on two major criteria which are product maturity and company maturity. Product maturity includes criteria such as set of features and functionality, services offered, deployment models and pricing options provided, while company maturity includes criteria such as geographic footprint, industries served, partner network, and organic as well as inorganic growth strategies.
The shortlisted vendors are then evaluated on more than 90 parameters and criteria decided by analysts and researchers. Weightage is allocated to these parameters and criteria, and a rating is created for a particular vendor. This rating will determine the vendor's location in the 360Quadrant, which will be positioned respectively.
360Quadrants is the largest marketplace looking to disrupt USD 3.7 trillion of technology spend and is the only rating platform for vendors in the technology space. The platform provides users access to unbiased information that helps them make qualified business decisions. The platform facilitates deeper insights using direct engagement with 650+ industry experts and analysts and allows buyers to discuss their requirements with 7,500 vendors. Companies get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in niche spaces, to be consumed by giants and start-ups alike. Experts get to grow their brand and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide.