Spendesk is a leading spend management platform designed to simplify expense tracking, budgeting, and financial workflows for businesses. With its suite of features and pricing tailored to different business needs, Spendesk has become a popular choice among UK companies looking to streamline their financial processes. In this review, we will explore Spendesk pricing structure, key features, and how to determine if it aligns with your business requirements.
What is Spendesk?
Spendesk is an all-in-one platform that allows businesses to manage their spending more effectively. It offers tools for expense management, invoice processing, virtual and physical cards, and real-time budget tracking. The platform is particularly useful for companies with distributed teams or those dealing with high volumes of employee expenses.
Spendesk pricing review
Spendesk offers customised pricing based on your business’s size and specific needs. The platform provides three main pricing tiers:
Essentials plan
Designed for small teams or businesses just beginning to centralise their expense management, this plan includes:
- Expense approvals
- Virtual and physical payment cards
- Receipt capture and matching
Pricing: Starts from approximately £10 per user per month, with a minimum team size requirement.
Scale plan
This tier is suitable for growing businesses that need advanced spend control. It includes everything in the Essentials plan plus:
- Advanced reporting
- Automated invoice processing
- Custom approval workflows
Pricing: Typically ranges from £15–£20 per user per month, depending on the number of users.
Enterprise
For larger organisations with complex financial needs, the Enterprise plan provides:
- Dedicated account management
- Custom integrations (e.g., ERP systems)
- Advanced compliance features
Pricing: Fully customised based on the organisation’s requirements.
Spendesk also charges implementation fees for onboarding, which can vary depending on the level of support required.
Spendesk features review
- Smart payment cards
- Virtual cards for online purchases
- Physical cards for employees, linked to Spendesk’s approval workflows
- Spend limits and instant notifications for better control
- Expense management
- Easy receipt capture via mobile app
- Automatic reconciliation with accounting software
- Real-time visibility into employee spending
- Invoice processing
- Automated invoice scanning
- Approval workflows for supplier payments
- Integration with financial systems for seamless management
- Reporting and analytics
- Customisable dashboards
- Insights into spending trends
- Budget forecasting tools
- Security and compliance
- GDPR and ISO 27001 certified
- Role-based access controls
- Built-in audit trails
Advantages of Spendesk
- Centralised control: All expenses are managed in one platform, reducing administrative overheads.
- Flexibility: Offers virtual and physical payment options tailored to team needs.
- Scalability: Adapts as businesses grow, with advanced features for larger organisations.
Disadvantages of Spendesk
- Costs: The platform may be cost-prohibitive for smaller businesses or startups.
- Implementation time: Larger teams might require significant time and resources for onboarding.
- Limited regional focus: While Spendesk supports international payments, some features are optimised for European markets, which might not be ideal for businesses operating outside these regions.
Review verdict – Is Spendesk the right choice for your business?
Spendesk is an excellent choice for businesses looking to streamline their expense management while gaining better visibility and control over spending. However, it’s important to consider your company size, budget, and operational complexity before committing to the platform.
- Small businesses: Spendesk may be an investment, but its features can reduce manual work and errors.
- Medium-sized businesses: The Scale plan offers a balance of cost and functionality, making it ideal for businesses with expanding teams and financial needs.
- Large enterprises: Spendesk’s Enterprise plan is tailored to meet complex requirements, including integration with ERP systems and dedicated support.
Final thoughts
To conclude our pricing review, Spendesk offers robust tools for managing company spending, with pricing tiers that cater to a wide range of business needs. For UK businesses seeking to enhance their financial management, Spendesk can be a worthwhile investment. However, it’s essential to evaluate the platform’s features and pricing against your specific requirements to ensure it delivers the value you need.
FAQ – Spendesk pricing review
Spendesk is particularly suited for businesses with distributed teams, high volumes of expenses, or those looking to centralise their financial workflows. It caters to companies of all sizes, from startups to large enterprises.
Yes, Spendesk integrates with popular accounting software like Xero, QuickBooks, and Sage, as well as ERP systems for larger organisations. These integrations help automate financial processes and reduce manual work.
Spendesk’s pricing is transparent, but there may be additional costs for implementation, training, or certain premium integrations. It’s advisable to discuss these with a Spendesk representative during onboarding.
Spendesk supports multi-currency payments, making it a good choice for businesses operating internationally. However, currency conversion fees may apply, depending on your payment provider or Spendesk’s policies.
Yes, Spendesk virtual cards are ideal for managing online subscriptions. You can create dedicated cards for specific services, making it easier to track and control recurring expenses.
Spendesk offers customer support through email and live chat, with additional services like dedicated account management available for Enterprise plan users.
Spendesk prioritises security with features like two-factor authentication, GDPR compliance, and ISO 27001 certification. These measures ensure your financial data is protected.
Yes, Spendesk includes tools for tracking spending trends and creating forecasts, which can help businesses plan and allocate budgets more effectively.
Spendesk does not currently advertise a free trial, but they do provide demos to help businesses evaluate the platform’s suitability before purchasing. It’s worth contacting Spendesk directly to explore this option.
Spendesk is used across a variety of industries, including technology, professional services, retail, and non-profits. Its flexible features make it adaptable to different operational needs.