Teampay

Review:

Teampay provides global companies with intuitive spending management software that's built to simplify the purchase-to-reimbursement process. While pricing is quote-based, users benefit from the platform's robust automation and real-time visibility into employee spending, client payments, approval workflows, and accounting tasks.

Teampay's solutions aim to balance autonomy with compliance, reduce manual labor by more than 75%, eliminate rogue spending, and create a seamless, efficient expense management process that is easy to understand and error-free.

Pros:

• Several well-known companies, including Grammarly, Bitly, and Broker Genuis, have found success using Teampay's software.
• The platform's conversational interface guides employees through the expense reporting process with ease.
• Companies can set up custom expense policies and purchasing limits to reduce out-of-policy spending.
• The software includes automated reconciliation, which uploads purchases to the general ledger quickly and accurately.
• Users can set and manage custom approval workflows to ensure compliance and create a clear audit trail.
• Both physical and virtual corporate cards are available with custom approvals, policies, and real-time spend visibility.
• Several accounts payable and accounting tasks can be automated, such as invoice processing, payments, and purchase orders.
• Robust expense reporting and analytics are available for accurate insights and financial trend forecasting.
• Teampay integrates with various communication, accounting, and ERP platforms, including Slack and Xero.
• Other tools include multicurrency reporting, vendor management, PCI DSS compliance, and live chat support.

Cons:

• There is no free trial of the software.
• Teampay's pricing is not readily available on their website.

Reputation:

On G2, Teampay has a 4.3-star rating based on more than 80 reviews. Many users praised the software's NetSuite integration, straightforward expense submission process, and ease of use. However, some reviewers mentioned their disappointment in its subpar reconciliation process and occasional technical issues.

On the App Store, the mobile app has a 5-star rating based on more than 20 reviews, with several users noting its user-friendly features and convenient receipt capturing notifications.