Spendesk - Detailed Review
Travel Tools
Spendesk - Product Overview
Overview
Spendesk is not specifically categorized under travel tools, but it is a comprehensive spend management platform that can be highly beneficial for various types of businesses, including those in the travel industry.Primary Function
Spendesk is a spend management platform that centralizes and streamlines a company’s entire spending process. It combines expense management, invoice management, and payment processing into a single, intuitive platform.Target Audience
Spendesk is primarily targeted at small to medium-sized businesses, as well as larger enterprises, across various industries. It is particularly useful for finance teams, budget owners, and employees who need to manage business expenses efficiently.Key Features
Virtual Cards
Spendesk offers unlimited virtual cards that can be allocated to employees for business expenses, providing better control over spending and reducing the risk of unauthorized transactions.Expense Management
The platform simplifies the expense reporting process with features like receipt scanning, automated categorization, and streamlined approval workflows. This eliminates manual processes, ensuring accuracy and efficiency.Invoice Management
Spendesk integrates invoice management, allowing businesses to handle vendor invoices and payments from a single platform. This includes real-time tracking and automated tasks to reduce administrative burdens.Approval Workflows
Customizable approval workflows can be set up to ensure compliance with company spend policies. This helps in eliminating friction, errors, and manual work.Real-Time Tracking
The platform provides real-time visibility into company spending, enabling businesses to track expenses as they occur and identify any potential issues promptly.Security and Compliance
Spendesk prioritizes security with features like bank-level encryption, daily backups, multi-factor authentication, and compliance with standards such as ISO 27001:2022, PSD2, PCI-DSS, and GDPR.Mobile App
Spendesk offers a mobile app that allows users to manage spending on the go, including requesting top-ups, generating virtual cards, paying, and uploading receipts.Integration
The platform seamlessly integrates with existing accounting software, ERP, and HR tools, ensuring a streamlined workflow and effortless spend management.Conclusion
While Spendesk is not specifically tailored for the travel industry, its comprehensive features make it a versatile tool that can be beneficial for any business looking to streamline and control their spending processes. Spendesk - User Interface and Experience
User Interface of Spendesk’s Travel Tools
The user interface of Spendesk, particularly in the context of its travel tools, is designed to be user-friendly and efficient. Here are some key aspects of its interface and user experience:
Ease of Use
Spendesk is praised for its simplicity and ease of use. Users can book work trips efficiently using virtual or physical cards, with a clear and straightforward process. Employees can choose their travel options, managers can approve them, and finance teams can track every purchase through a digital approval flow.
Automated Processes
The platform automates several tasks, such as expense claims and receipt collection. Employees can simply snap a photo of their receipt and create an expense claim in seconds, eliminating the need for time-consuming expense reports. This automation makes the process quick and hassle-free.
Clear Oversight and Budget Management
Spendesk provides clear oversight and budget management tools. Each card has a custom budget and limit, which can be adjusted or blocked instantly from a mobile device. This feature helps in managing budgets and setting spending limits at the team or company level.
Streamlined Approval Workflow
The integration with TravelPerk enhances the approval workflow, making it simple and unified. This integration streamlines processes, improves time management, and provides better budget control. Finance teams can access detailed cost breakdowns per trip, which aids in decision-making.
User Feedback
Users generally appreciate the smooth and efficient user experience that Spendesk offers. Reviews highlight that the platform simplifies the completion of expense reports, makes it easy to schedule business travel, and is very convenient for uploading receipts and tracking expenditures.
Minor Issues
While the overall user experience is positive, some users have reported minor issues, such as occasional problems with physical cards failing at some shops and some dissatisfaction with customer support in isolated cases.
Conclusion
In summary, Spendesk’s user interface is intuitive, making it easy for employees to manage their travel expenses and for finance teams to oversee and control spending. The automation of key processes and the streamlined approval workflow contribute significantly to a positive user experience.
Spendesk - Key Features and Functionality
The Integration of Spendesk with TravelPerk
The integration of Spendesk with TravelPerk, particularly in the travel tools category, offers several key features that streamline and automate corporate travel expense management. Here are the main features and how they work:
Streamlined Approval Workflow
This feature simplifies the approval process by unifying it across both TravelPerk and Spendesk. Managers and finance teams can set up a single approval workflow, enhancing control and productivity. This ensures that every step of each trip is safe and controlled without creating extra work for finance teams.
Automated Receipt Collection
Manual receipt collection is eliminated through this integration. Business travelers can automatically upload their receipts while on the go, saving time and reducing errors. This automation ensures all spend data is correct and readily available, eliminating the need to chase receipts.
Practical Insights and Cost Breakdowns
Finance teams can access detailed cost breakdowns per trip, making decision-making more effective. The integration provides per-trip breakdowns, and data can be exported into accounting tools like Xero, NetSuite, or QuickBooks. This visibility helps in better budget control and resource allocation.
Seamless Booking and Payment Process
Employees can book their business travel using TravelPerk, which offers the world’s largest inventory of flights, trains, taxis, and accommodation. Payments are managed through Spendesk, where a Spendesk card can be created to pay for all corporate travel. All payments and supporting documents are automatically pushed to Spendesk, creating a complete audit trail.
Custom Payment Methods and Spending Policies
Spendesk allows finance teams to set custom payment methods, whether through virtual or physical cards, and define spending policies. Each card has a custom budget and limit, and can be topped up or blocked instantly. This ensures clear oversight, manages budgets, and sets custom limits at the team or company level.
Automated Expense Claims
The Spendesk mobile app captures receipts, eliminating the need for time-consuming expense reports. Employees can submit expense claims on the spot, and reimbursements are processed instantly. This feature reduces administrative tasks and ensures employees are reimbursed quickly.
Integration with Accounting Tools
Spendesk integrates seamlessly with accounting tools like Xero, NetSuite, and QuickBooks. This allows for the automatic synchronization of invoices and payments, making financial closing processes more efficient. Data can be exported in formats like XML or CSV for easy upload into various accounting systems.
AI and Automation
While the specific AI-driven aspects are not explicitly detailed, the automation features in Spendesk and its integration with TravelPerk leverage advanced technology to streamline processes. For example, automated receipt collection and smart categorization of expenses are likely supported by AI algorithms that help in parsing receipts and assigning them to the correct categories.
Conclusion
In summary, the integration of Spendesk with TravelPerk offers a comprehensive solution for managing corporate travel expenses, focusing on automation, streamlined workflows, and enhanced visibility and control over travel spend. These features collectively make travel expense management more efficient and less cumbersome for both travelers and finance teams.
Spendesk - Performance and Accuracy
Evaluating Spendesk in the Travel Tools Category
Evaluating the performance and accuracy of Spendesk in the travel tools category, particularly with its AI-driven features, reveals several key points.
Performance
Spendesk performs well in streamlining travel expense management through its integration with travel management tools like TravelPerk. Here are some highlights:
Automation and Efficiency
Spendesk automates many processes, such as updating bookings, synchronizing invoices, and tracking payments, which saves time and reduces manual errors.
Travel Policy Enforcement
The platform allows finance teams to set clear travel policies, approval workflows, and spending limits, ensuring that all travel spend is controlled and accounted for.
Mobile Capabilities
Spendesk’s mobile app enables employees to capture receipts, track mileage, and submit expense claims on the go, making the process efficient and real-time.
Integration and Reporting
Spendesk integrates well with accounting tools like Xero and Netsuite, allowing for seamless data synchronization and detailed reporting. This provides comprehensive visibility over travel spend and helps in pre-accounting work.
Accuracy
Spendesk is praised for its accuracy in several areas:
Receipt Capture and Parsing
The platform can easily capture receipts digitally and automatically parse them, ensuring accurate expense reporting.
Payment Tracking
Spendesk accurately tracks different types of payments, including deposits or partial payments, and identifies overdue payments.
Approval Workflows
The complex approval workflows ensure that all expenses are validated and approved correctly, reducing errors and discrepancies.
Limitations and Areas for Improvement
While Spendesk is highly regarded, there are a few areas where it could improve:
AI Capabilities
While Spendesk uses some AI-driven features, such as automated expense classification and risk analysis, it does not extensively leverage AI for predictive analytics or deep pattern recognition compared to some other spend analytics tools.
Historical Data Analysis
Although Spendesk uses historical data for forecasting and variance analysis, the depth of AI-driven analysis, such as scenario modeling or real-time alerts based on external factors, is not as pronounced as in some specialized spend analytics tools.
User Feedback
Some features, like the AI-driven forecasting and fraud monitoring, have limited user feedback, indicating that these areas might need more development or user engagement to fully assess their effectiveness.
Conclusion
In summary, Spendesk excels in automating travel expense management, ensuring accuracy in expense tracking and reporting, and integrating well with other financial tools. However, there is room for improvement in leveraging AI more extensively for advanced analytics and predictive insights.
Spendesk - Pricing and Plans
Plans and Pricing
1. Free Plan
- Although there was some confusion, Spendesk does offer a Free plan, which is ideal for early-stage companies. This plan includes 4 users (with 1 approver), physical cards, unlimited virtual and subscription cards, subscription management, account statement export, Slack integration, and up to 100 transactions per month. You can purchase extra transactions if needed.
2. Essentials Plan
- This plan is suited for Small and Medium Businesses (SMBs) looking to streamline their spend management. It includes unlimited users and approvers, all the features of the Free plan, plus automated and customizable bookkeeping, end-to-end invoice management, expense tracking and reimbursement, spend dashboards, basic accounting integrations, and multi-entity management for up to 3 entities.
3. Scale Plan
- Designed for established and growing businesses, the Scale plan builds on the Essentials plan. It adds features such as purchase order tracking, HR and travel integrations, budgets and sub-budgets, a dedicated account manager, assisted set-up with an onboarding manager, and multi-entity management for up to 5 entities.
4. Premium Plan
- This plan is for large companies with complex needs. It includes all the features of the Scale plan, plus enterprise accounting integrations, machine learning automation, 500 transactions per month, and unlimited entity management.
Additional Costs and Fees
- Monthly Subscription Fee: The monthly fees for the paid plans are as follows: Essentials (£199 per month), Scale (£599 per month), and Premium (starting from £1,499 per month).
- Transaction Fees: The first transactions are free (100 for Scale, 500 for Premium), then transactions can be bought in packages (100 transactions for £50 for Scale, 500 transactions for £150 for Premium). Transactions not bought in packages cost 75p each.
- Entity Fee: There is an additional £100 fee per additional entity beyond the included entities in each plan.
- International Transactions: An additional 3% fee is charged on every international transaction.
Key Points
- Spendesk does not charge active user fees; you can add as many spenders as needed without extra costs.
- Card orders are free of charge, and there are no monthly card fees.
- Most plans have an indefinite term, but you can close your account with 2 months’ prior notice. Annual contracts are also available.
Spendesk - Integration and Compatibility
Spendesk Overview
Spendesk, a comprehensive spend management platform, integrates seamlessly with a variety of tools and is compatible across several platforms and devices, making it a versatile solution for managing company expenses.
Integrations with Accounting Tools
Spendesk offers native integrations with leading accounting software such as QuickBooks, Xero, and NetSuite. These integrations enable automatic synchronization of expense data, eliminating the need for manual data entry. For example, with QuickBooks, Spendesk allows for two-way data syncing, automatic general ledger coding, and the capture of over 95% of receipts in real-time.
Travel Expense Management
Spendesk integrates with TravelPerk to streamline travel expense management. This integration allows employees to book travel within predefined company policies, and all payments and supporting documents are automatically pushed to Spendesk. This data can then be synced with accounting tools, providing a complete audit trail and automating pre-accounting work.
Other Integrations
In addition to accounting and travel tools, Spendesk integrates with various other business tools. It supports SaaS management, productivity tools like Slack, and human resources platforms such as HiBob and BambooHR. These integrations enable finance teams to manage team purchase requests, set up custom exports, and even use Single Sign-On (SSO) through third-party identity providers.
Platform Compatibility
Spendesk is accessible across multiple devices and platforms. It has a mobile app available for iPhone, iPad, and iPod touch, requiring iOS 15.0 or later. The app allows users to track spending in real-time, snap and upload receipts, manage card balances, and approve team requests on the go.
For desktop users, Spendesk can be accessed through a web interface or via a desktop app available on WebCatalog for Mac and Windows. This desktop app provides a distraction-free environment and easy switching between multiple accounts and apps.
Automation and Real-Time Visibility
One of the key benefits of Spendesk is its ability to automate various processes, such as expense categorization, receipt capture, and accounting updates. This automation ensures error-free spend data and provides real-time visibility into company spending, helping finance teams make smarter financial decisions.
Conclusion
In summary, Spendesk’s integration capabilities and cross-platform compatibility make it an effective tool for managing company spend, whether it’s through accounting software, travel expense management, or other business tools. Its availability on multiple devices ensures that finance teams can manage expenses efficiently and accurately.
Spendesk - Customer Support and Resources
When You Need Support
When you need support or additional resources for Spendesk, there are several avenues you can take to get the help you require.
Customer Support Teams
Spendesk has dedicated teams to handle different types of inquiries. Here are the key teams you can contact:
Support Team
For questions related to payments (such as pending, failed, or completed transactions), features, actions required on your account or the mobile app, or any bugs you encounter, you should contact the Support Team. You can reach them via chat or email at support@spendesk.com.
Billing Team
If you have billing-related inquiries, need assistance with setting up a new entity, or require advice on usage or accessing training materials, the Billing Team is available to help. You can contact them via email at customer@spendesk.com.
Additional Resources
Webinars
Spendesk offers webinars to help you get familiar with the platform. These include webinars on getting to grips with the platform to review payment methods and another on accounting to set up your accounting on Spendesk and save time on accounting entries.
FAQs and Help Center
The Spendesk website has a comprehensive FAQ section that addresses many common questions about the platform, including how to use the mobile app, integrate with accounting systems, and manage expense claims. The Help Center is another valuable resource where you can find detailed guides and troubleshooting tips.
Contact Information
If you prefer to contact Spendesk directly, you can reach out via phone at 3 318 288 3860 or 3 318 288 0510, or email them at hello@spendesk.com for general inquiries. The customer service team is available Monday to Friday from 9:00 AM to 6:30 PM Central European Time.
Language Support
Spendesk’s customer service team is happy to help in multiple languages, including French, English, Spanish, and German, making it easier for users from different regions to get support.
By leveraging these resources, you can ensure you get the support you need to effectively use Spendesk for your spend management needs.
Spendesk - Pros and Cons
Advantages of Spendesk for Travel Spending
Spendesk offers several significant advantages when managing travel expenses for businesses:Efficient Booking and Payment
Spendesk allows employees to book work trips efficiently using virtual or physical cards, ensuring safe and secure payments for flights, trains, and accommodation. Managers can approve these bookings through a digital approval flow, maintaining full visibility over every purchase.Custom Budgets and Limits
Each Spendesk card can be assigned a custom budget and limit, which can be adjusted or blocked instantly. This feature helps in controlling expenditure and ensures employees stay within allocated budgets.Automated Expense Claims
The platform simplifies expense claims by allowing employees to snap a photo of their receipts and create an expense claim quickly. Reimbursements can be processed directly from the platform, reducing administrative tasks.Streamlined Approval and Spending Policies
Finance teams can set automatic approval and spending limits, ensuring employees follow predefined rules. This reduces communication and minimizes mistakes in the spending process.Integration with Travel Tools
Spendesk integrates seamlessly with travel management tools like TravelPerk, allowing for automated booking updates, synchronized invoices, and centralized travel spending management. This integration saves time and ensures accurate spend data.Enhanced Visibility and Control
The platform provides real-time spend visibility, enabling finance teams to track budgets, control expenses, and make informed decisions. It also offers per-trip breakdowns and easy export options for accounting tools.Simplified Vendor Management
Spendesk works with various travel booking platforms, including Airbnb, Booking.com, and Skyscanner, as well as ride-sharing services like Uber and Lyft. It allows pre-approval of preferred suppliers and control over card usage outside work hours.Disadvantages of Spendesk for Travel Spending
While Spendesk is highly beneficial, there are some limitations to consider:Suitability for Business Size
Spendesk is more suited for growing businesses with 30 to 1,000 employees. It may not be the best fit for sole entrepreneurs or very small businesses.Limited Reporting Customization
One of the downsides is the limited ability to customize reports according to specific business needs. This can restrict deeper analysis for some organizations.Learning Curve
New users may find the initial setup and navigation of the platform complex, requiring additional training and support to fully utilize its features.No AI-Driven Travel Planning
Spendesk does not incorporate AI-driven travel planning features, which might be a drawback for businesses looking for automated itinerary suggestions and real-time adaptations to travel changes. In summary, Spendesk is a powerful tool for managing travel expenses, offering significant advantages in terms of efficiency, control, and visibility. However, it may have limitations in terms of business size suitability, reporting customization, and user learning curve. Spendesk - Comparison with Competitors
Spendesk Key Features
- Virtual and Physical Cards: Spendesk offers unique virtual cards for online bookings and physical debit cards, both of which are easy to manage and secure for companies. These cards can be used within set spending limits defined by the finance team.
- Automated Expense Claims: Employees can log expenses instantly via the mobile app, and managers and finance teams are notified immediately for validation. Reimbursements can be triggered directly from the Spendesk wallet.
- Integration with TravelPerk: Spendesk’s integration with TravelPerk simplifies corporate travel expense management by streamlining approval workflows, automating receipt collection, and providing detailed cost breakdowns per trip.
- Custom Payment Methods and Policies: Spendesk allows finance teams to set approval and spending limits automatically, and employees follow these rules, reducing communication and mistakes.
Alternatives and Competitors
Expensify
- Expense Tracking and Reimbursement: Expensify is known for its comprehensive expense management, including tracking expenses, reimbursing employees, managing corporate cards, and sending invoices. It is less innovative and less efficient compared to Spendesk, according to user reviews.
- User Experience: Expensify is often cited as less inspiring and less caring, with a harder user interface compared to Spendesk.
Webexpenses
- Personalized Service: Webexpenses offers a bespoke and adaptive system, moving away from generic solutions. However, it is considered less innovative, less transparent, and harder to use than Spendesk.
- Mobile App: Webexpenses has a mobile expenses app, but it lacks the efficiency and user-friendliness of Spendesk.
Certify
- Automated Expense Reporting: Certify is a cloud-based travel and expense management solution that automates expense reporting, eliminating the need for paper receipts and spreadsheets. It is less innovative and harder to customize compared to Spendesk.
- Mobile Capabilities: Certify offers mobile capabilities but is generally considered harder to use and less transparent.
Workday Spend Management
- Seamless Expense Reporting: Workday Spend Management allows for easy capture, submission, and approval of expense reports. However, it is harder to customize, less transparent, and harder to implement compared to Spendesk.
- User Experience: Workday is often cited as harder to use and with worse training support.
AI-Driven Travel Planning Tools
While Spendesk is primarily focused on expense management, there are AI-driven travel planning tools that can complement or offer alternative solutions for travel planning:
Roam Around
- AI-Powered Travel Plans: Roam Around uses AI to create personalized travel plans based on specific needs and preferences. It focuses more on the travel planning aspect rather than expense management.
Layla
- Travel Planning and Guides: Layla assists users in discovering new destinations, planning itineraries, and booking flights and hotels. It is more focused on travel planning and less on expense tracking.
Copilot2trip
- Personalized Travel Assistant: Copilot2trip creates tailored travel plans with interactive maps, suitable for both business trips and family vacations. It does not handle expense management directly.
In summary, Spendesk excels in automated expense management, custom payment methods, and seamless integration with travel booking platforms like TravelPerk. However, if your primary need is AI-driven travel planning, tools like Roam Around, Layla, and Copilot2trip might be more suitable. For a more comprehensive expense management solution with a different set of features, Expensify, Webexpenses, Certify, or Workday Spend Management could be considered.
Spendesk - Frequently Asked Questions
Frequently Asked Questions about Spendesk Travel Tools
Q: How does Spendesk simplify the process of booking business travel?
Spendesk streamlines the booking process by allowing employees to book trips efficiently using virtual or physical cards. These cards are linked to specific budgets and limits set by the finance team, ensuring that all payments are tracked and approved within predefined rules.Q: What is the integration between Spendesk and TravelPerk, and how does it benefit businesses?
The integration between Spendesk and TravelPerk allows businesses to book travel through TravelPerk and manage their travel expenses seamlessly within Spendesk. This integration automates the collection of receipts, streamlines approval workflows, and provides detailed cost breakdowns per trip, enhancing control and productivity.Q: How does Spendesk handle expense claims and reimbursements for business travel?
Spendesk automates expense claims by allowing employees to capture receipts using the mobile app, eliminating the need for time-consuming expense reports. Employees can submit claims on the spot, and reimbursements can be processed instantly from the Spendesk platform.Q: Can Spendesk manage different types of travel bookings, such as accommodation and transportation?
Yes, Spendesk supports various travel bookings, including flights, trains, accommodation (through platforms like Airbnb, Booking.com), and transportation services (like Uber and Lyft). It allows pre-approval of preferred suppliers and sets spending limits to ensure compliance with company policies.Q: How does Spendesk ensure budget control and spending visibility for business travel?
Spendesk provides clear oversight by tracking every payment to the right user, managing budgets, and setting custom limits at the team or company level. It also offers detailed cost breakdowns per trip, helping finance teams to make informed decisions and maintain full visibility over travel expenses.Q: What happens if an employee needs to pay out of pocket for a business expense?
If an employee pays out of pocket, they can simply snap a photo of the receipt and create an expense claim through the Spendesk mobile app. The claim is then reviewed and approved by the manager and finance team, and the reimbursement is processed directly from the platform.Q: Can Spendesk integrate with other financial tools and accounting software?
Yes, Spendesk can integrate with various accounting tools like Xero and Netsuite. It allows businesses to export data in formats such as XML or CSV, making it easy to sync travel spending data with existing accounting systems.Q: How does Spendesk manage changes to travel bookings?
Any changes made to bookings on TravelPerk are automatically reflected in Spendesk. This ensures that all expense data and invoices are up-to-date and accurately matched with the corresponding transactions.Q: What are the requirements for integrating Spendesk with TravelPerk?
To integrate Spendesk with TravelPerk, businesses need a Pro or Premium account on TravelPerk, and only admins can set up this integration. It is also important to ensure that all employees use the same email address in both TravelPerk and Spendesk.Q: How does Spendesk ensure compliance with company travel policies?
Spendesk allows finance teams to set approval and spending limits automatically, ensuring that employees follow the company’s travel policies. This reduces communication and minimizes mistakes, as all spending is controlled within predefined rules. Spendesk - Conclusion and Recommendation
Final Assessment of Spendesk in the Travel Tools Category
Spendesk is a comprehensive spend management platform that offers a range of features specifically designed to streamline and manage business travel expenses. Here’s a detailed assessment of its capabilities and who would benefit most from using it.Key Features for Travel Management
- Booking and Payment: Spendesk allows employees to book work trips quickly using unique virtual cards for flights, trains, and accommodation. This ensures all payments are tracked and logged correctly, enhancing security and transparency.
- Expense Management: The platform automates expense claims through its mobile app, where employees can capture receipts, log expenses, and submit claims instantly. This eliminates the need for time-consuming expense reports and facilitates immediate reimbursements.
- Travel Itinerary and Notifications: Spendesk integrates with calendaring systems and provides notifications for upcoming flights, hotels, and rental cars. The mobile application can also store travel itineraries and update users on travel delays or changes.
- Mileage and Allowance Calculations: For specific regions like Germany, Spendesk automates mileage and per diem allowance calculations, making it easier for employees to claim the correct amount of expense reimbursement.
Who Would Benefit Most
Spendesk is particularly beneficial for businesses that frequently incur travel expenses. Here are some key groups that would find this platform valuable:- Medium to Large-Sized Enterprises: Companies with multiple employees who travel regularly will appreciate the streamlined expense management, automated reimbursement processes, and clear oversight of spending.
- Finance Teams: These teams will benefit from the ability to set custom spending limits, approve expenses, and manage budgets efficiently. The automated expense claims and instant reimbursements reduce administrative burdens.
- Traveling Employees: Employees who travel for work will find the virtual cards, easy receipt capture, and instant reimbursement features highly convenient, reducing the hassle associated with traditional expense reporting.