Managing spend effectively is key to maintaining control, visibility, and financial health. With so many solutions available, finding the right spend management software can feel overwhelming.
As budgets tighten and processes become more complex, many finance teams find themselves juggling processes across disconnected tools that weren’t designed to work together. This only leads to costly gaps and inefficiencies.
Spend management software bridges these gaps. It gives you visibility into how money moves through your organization, and implements internal controls that drive compliance and audit-readiness.
This blog breaks down five top spend management software solutions, highlighting their strengths and ideal use cases to help you identify the best fit for your company. Whether you’re a growing startup or a large enterprise, the key to choosing the right solution starts with understanding your unique requirements. By exploring these options and reflecting on your business needs, you’ll be better equipped to make a confident, informed decision.
These are the top five spend management software platforms in 2025: Fraxion, SAP Concur, Coupa, BILL Spend & Expense, and Airbase.
Each one of these platforms gives you better control and visibility into business spending, but they vary widely in terms of functionality, flexibility, and ease of use.
| Solution | Best for | Key features | Potential drawbacks |
|
Fraxion |
Mid-sized companies that require spend management, procurement, and spend analytics in one user-friendly solution. | Procure-to-pay, AP automation, spend management and analytics with advanced mobile app and integration flexibility. | Not built for large enterprises with advanced supplier/sourcing needs; may offer more than smaller teams need. |
|
SAP Concur |
Organizations with extensive travel and expense management needs. | Advanced travel and expense automation, AP automation. | No procurement management functionality. |
| Coupa | Large enterprises that require a full suite with strategic sourcing for global operations. | Direct and indirect spend management, AP automation, AI spend insights, and advanced sourcing. | Complex and resource-intensive implementation. |
| BILL Spend & Expense | Small to mid-sized companies needing a fast, easy deployment. | Integrated spend cards, expense management, and AP automation. | No procurement management functionality. |
| Airbase | Finance teams in mid-size to large companies. | Procure-to-pay, AP automation, spending cards, bills, payments, and spend management. | Requires more resources for implementation; lacks support for legacy ERP integrations. |
Fraxion is a leading all-in-one procure-to-pay and spend management platform designed for mid-sized businesses that need robust financial oversight, procurement control, and actionable spend analytics. With extensive ERP integration options, mobile accessibility, and compliance-driven workflows, Fraxion empowers finance teams to manage spending across budgets, projects, departments, and funding sources with ease and precision.
Industry success: Education, Agriculture, Biotechnology/Healthcare, and Non-profit
Fraxion is an ideal fit for companies needing a single, intuitive solution to manage procurement, expenses, and accounts payable with ease. The spend management software automates the entire procure-to-pay process, no add-ons required, while delivering real-time budget tracking, policy enforcement, and actionable spend analytics that drive cost-savings and efficiency.
With robust ERP integrations and a powerful mobile app, Fraxion simplifies complex workflows and ensures visibility across every dollar spent—no matter where your team is working. For finance teams overseeing multiple budgets, grants, or funds, Fraxion brings the transparency, compliance, and agility needed for proactive, accountable spend management.
Fraxion is not designed for large enterprises with highly complex supplier management or sourcing requirements. While it offers more functionality than smaller teams may initially need, it's built to scale as organizations grow in users, transaction volumes, and workflow needs. Fraxion is a future-proof choice for maturing businesses.
SAP Concur is a leading solution for travel and expense (T&E) management, designed for organizations that need robust automation, visibility, and compliance in managing employee travel and reimbursement processes. As part of the SAP ecosystem, Concur is widely used by companies with complex travel policies and global operations.
Industry success: Retail, Energy, Financial Services, and Manufacturing
SAP Concur is a strong fit for companies with high travel volumes and significant expense management needs, and those looking to automate and streamline reimbursement processes. It’s especially useful for businesses with large traveling workforces or complex T&E policies that require strict controls, integrated booking, and audit trails.
While SAP Concur excels at managing travel and expenses, it lacks the depth of procurement functionality found in broader spend management platforms. Companies looking for features like purchasing automation, PunchOut, or internal catalogs may need to integrate additional solutions to meet these requirements. While powerful, its configuration can introduce complexity for smaller teams with limited technical support.
Coupa is a leading enterprise-grade business spend management solution designed for large organizations with global operations. It offers a comprehensive suite of tools that span procurement, invoicing, expense management, supplier management, contract lifecycle management, and strategic sourcing. These are all unified under a single cloud-based spend management platform.
Industry success: Automotive, Consumer Products, Federal Government, and Oil and Gas
Coupa is ideal for enterprises that need to manage complex, high-volume global spend and sourcing operations within a single, centralized platform. Its powerful analytics and automation tools support finance, procurement, and sourcing teams in gaining deeper visibility, enforcing policy, and making strategic decisions at scale.
Coupa’s robust spend management functionality comes with a steeper learning curve and higher implementation demands. Deployment can be resource-intensive, especially for organizations without dedicated IT or procurement operations teams. Smaller companies or those looking for a fast setup and lightweight solution may find Coupa more than they need.
BILL Spend & Expense (formerly Divvy) is a card-first spend management platform tailored for small to mid-sized businesses. It combines corporate card management, budgeting, expense tracking, and approvals in one easy-to-use interface. With a fast setup and intuitive tools, it helps teams manage day-to-day spending while maintaining control and visibility.
Industry success: eCommerce, Wealth Management, Professional Services, and Manufacturing
It’s a great choice for growing companies that need a no-fuss solution to control and track business spending. Finance teams gain immediate insight into employee spend, can issue physical or virtual cards on demand, and reduce the burden of manual expense reporting. Its simplicity and speed of deployment make it especially appealing for startups or lean finance teams.
BILL Spend & Expense is not a procurement solution. It lacks requisition, purchase order, and supplier management functionality. Businesses with more complex purchasing workflows or vendor catalog requirements may find it limiting. Additionally, while it's a powerful tool for expense control, those needing end-to-end procure-to-pay capabilities should consider more comprehensive platforms.
Airbase is an all-in-one spend management platform designed for mid-sized to large companies looking to consolidate cards, bill payments, reimbursements, and approvals into a single system. It centralizes spend processes and provides a unified view of company expenses. Thanks to its ERPs and HRIS integrations, it helps mid-sized companies improve consistency across their financial operations.
Industry success: SaaS, Technology, Recruitment, and Telecommunications
Airbase is ideal for finance teams replacing multiple disconnected tools. If you’re looking to combine cards, approvals, and reimbursements under one roof, this tool can handle it. Companies that prioritize control, automation, and integration with accounting systems will appreciate its depth and flexibility.
While Airbase offers robust functionality, the platform can feel complex for smaller teams or those without dedicated finance resources. Its feature-rich design may require more time for setup and onboarding. While the mobile experience is improving, some users may find it less streamlined than lighter-weight tools. It’s best suited for organizations that are ready to invest in a more structured and comprehensive approach to spend control. Airbase supports modern cloud-based ERPs but may not integrate with older or legacy systems.
After reviewing the top solutions, it’s essential to go beyond feature lists. Request a custom demo to see how each platform aligns with your specific workflows and business goals. Take time to understand your internal requirements, consider vendors with experience in your industry, and evaluate critical factors like customer satisfaction, support, onboarding, and security credentials—such as SOC 2 compliance—to ensure a reliable, long-term fit.
Indirect spend is a hidden opportunity for cost savings, if managed proactively. Fraxion gives mid-sized businesses the tools to control spending before it happens, enforce policies, and gain real-time visibility. This results in less waste, more accountability, and a smarter, streamlined approach to managing every dollar.
If you need to simplify procure-to-pay processes, gain insights into spending, integrate key vendor catalogs and finance solutions, and empower your team to spend responsibly wherever they are, Fraxion is the spend management solution that brings it all together.
Want to see how the platform works? Book a personalized demo with the Fraxion team.