Technology is changing the way enterprise cost management. Advanced technologies such as process automation, AI, data analytics and system integration are helping businesses save time, optimize costs and make more accurate financial decisions.
The article below will introduce the Top 27 cost management software popular, clearly grouped so you can easily choose the solution that best suits your size and industry.
What is expense management software?
Cost management software is a tool that helps individuals and businesses track, control and record transactions, store data, thereby optimizing income and expenditure. It helps automate processes related to finance such as set a budget, track spending, analyze financial data and generate detailed reports. Expense management software is often designed to support personal, SME or Enterprise financial management, depending on features and scale of use.
How to choose the right expense management software?
Choosing an effective cost management software requires careful consideration based on the specific needs of each organization. Whether you are an individual, an SME business owner or a manager at a large corporation (Enterprise), the following three core criteria will guide you to make the right decision:
- User needs:
- Individual: Need a simple tool to track income and expenses, create a personal budget and manage bills.
- SME Business: Require features to automate disbursement approval processes, debt management, and integration Electronic invoice and basic financial statements.
- Enterprise: Requires a comprehensive solution with deep customization, complex authorization, high security and ERP integration with other systems.
- Selection criteria:
- Features: Does the software provide the necessary tools for recording, budgeting, reporting and analysis?
- Integration capabilities: Is the solution easily connected to the accounting, human resources, and CRM software that the business is using?
- Expense: What is the investment budget? Are the implementation, maintenance and upgrade costs appropriate for the size of the business?
This article by Bizzi will analyze and compare the leading software, helping you easily choose the solution that best suits your scale and industry characteristics.
Top popular cost management software for businesses
Group 1: Popular cost management software in Vietnam
Software in this group often has a big advantage in understanding accounting practices and tax regulations in Vietnam. The interface and support services in Vietnamese help businesses deploy quickly and effectively.
Bizzi – Comprehensive and optimal cost management solution for businesses
Bizzi is a comprehensive automated cost management solution, specifically designed for the Vietnamese market, helping businesses closely control all expenses and optimize cash flow.
Outstanding features:
- Set up flexible spending policies and automatically alert you to unusual expenses.
- Fully automate the process of creating, submitting, and approving expense requests.
- Create and track detailed budgets for each department and project in real time.
- Processing and storage Electronic invoice automatically from email or QR code scan.
- Intuitive reporting dashboard, providing an overview of the financial situation.
- Easy Integration with ERP systems, popular accounting (SAP, Oracle, MISA, Fast).
Quote:
- Contact Bizzi for detailed advice and quotes, suitable for your business size.
- Special: Bizzi is offering a 6-month free trial. Register now!
Strengths:
- In-depth automation solution, helping to reduce manual processing time 80%.
- Friendly interface, easy to use on both web and mobile applications.
- Trusted by many large corporations such as Grab, GS25, Mondelez, Circle K.
- Professional customer support.
Limitations:
- Focuses primarily on cost management for businesses, not for individuals.
1Office
1Office is a comprehensive business management platform, in which the financial management subsystem helps control revenue, expenditure and debt effectively.
Outstanding features:
- Manage detailed income and expenses in real time.
- Automatic reminders of payments due.
- Manage debt and analyze financial trends.
- Data security according to ISO/IEC 27001:2013 standard.
- Digitize the financial approval process.
Quote: Contact 1Office directly for a quote.
Strengths:
- Comprehensive management solution, synchronizing many operations.
- High security.
Limitations:
- The cost can be high for businesses that only need to manage costs.
- Multi-functional interface, takes time to get used to and train.
Accounting 1A
Is specialized accounting software, supporting businesses in managing financial operations, including tracking and allocating costs.
Outstanding features:
- Automatically generate financial reports and cash books.
- Supports multiple currencies and automatic conversion.
- Allocate prepaid expenses and print receipts and payments according to the form.
Quote: Contact the supplier directly.
Strengths:
- Specialized in Vietnamese accounting practices.
- Multi-currency support.
Limitations:
- The interface can be complicated for non-accountants.
- Lacks advanced expense management features like setting up spending policies.
Faceworks Expense
Faceworks Expense is a module in the Faceworks ecosystem, allowing businesses to customize their cash flow and expenses.
Basic features:
- Store accurate income and expenditure information.
- Generate custom income and expense reports by category and time period.
- Control and update available funds quickly.
- Supports multiple currencies and automatic conversion.
Quote: Contact Faceworks directly for a quote.
Strengths:
- Highly customizable on demand.
- Located within the overall corporate governance ecosystem.
Limitations:
- It takes time and money to customize it properly.
- Basic interface.
Code
This is a simple income and expenditure management software, suitable for small stores or micro businesses with basic recording needs.
Basic features:
- Keep detailed records of income, expenses and debts.
- Print and keep statistics of all types of receipts and payments.
- Display statistical reports by day, week, month.
- Compare income and expenditure by year through the chart.
Quote: Contact Codedao directly for a quote.
Strengths:
- Simple, easy to use for basic operations.
- Focus on simple note taking and reporting.
Limitations:
- The interface is not modern.
- Lacks advanced features like automation, decentralization, integration.
Kiotviet revenue and expenditure management software
KiotViet is a popular sales management solution, integrating revenue and expenditure management and debt management features for retail stores.
Basic features:
- Manage customer and supplier debt.
- Automatically update revenue and expenditure transactions from sales activities.
- Detailed cash book management.
Quote: Contact KiotViet directly.
Strengths:
- Tightly integrated with sales and inventory management.
- Friendly interface, easy to operate.
Limitations:
- Primarily serves the retail industry, may not be suitable for other industries.
- Cost management features are not as in-depth as specialized software.
Misa income and expenditure book
This is a personal finance management application and for small businesses by MISA, helping to record and track daily income and expenses in a simple way.
Basic features:
- Record income and expenses quickly, can input data by voice.
- Personal financial analysis report in chart form.
- Set spending limits and alerts.
- Sync data across multiple devices.
Quote: There is a free version and a paid Premium version with advanced features.
Strengths:
- Intuitive interface, easy to use.
- Convenient voice input feature.
- Developed by MISA, a prestigious brand.
Limitations:
- Only suitable for individuals and micro businesses, does not meet the needs of SME and above businesses.
- Free version has limited features.
Nhanh.vn
Similar to KiotViet, Nhanh.vn is a multi-channel sales management platform, integrating inventory, revenue and cash flow management tools.
Basic features:
- Manage sales and inventory across multiple channels.
- Integrate shipping units.
- Track cash flow from operations.
Quote: From 250,000 VND/month to 1,000,000 VND/month depending on package.
Strengths:
- Powerful solution for multi-channel sales management.
- Diverse service ecosystem.
Limitations:
- The interface is quite informative, which can be confusing for beginners.
- The cost is considered quite high.
- Financial features are not core.
AMIS (MISA AMIS)
MISA AMIS is a unified business management platform, providing many different subsystems, including accounting, sales, human resources, including cost management.
Basic features:
- Manage sales costs and business expenses.
- Track expense items in detail.
- Tightly integrated with accounting and other subsystems.
Quote: There is a free package for micro businesses; paid packages from VND 2,950,000/year.
Strengths:
- Comprehensive ecosystem, synchronizing data between departments.
- MISA brand is prestigious and understands Vietnamese business.
Limitations:
- Depends on internet connection.
- Costs can increase if multiple subsystems are used.
FastWork
FastWork provides a suite of business management and operations tools, with features to support cost management and product pricing.
Basic features:
- Intensive cost management.
- Track your expenses in detail.
- Support product costing.
Quote: Contact us directly for a quote.
Strengths:
- Good support for manufacturing and construction businesses that need to calculate costs.
- Included in the overall management solution.
Limitations:
- The interface can be complicated for new users.
- It takes time to configure and deploy.
ERP Faceworks
As a customized ERP solution for Vietnamese businesses, Faceworks provides comprehensive financial management modules from accounting, debt to assets.
Basic features:
- Financial management - accounting, debt, warehouse, fixed assets.
- Manage purchasing, sales and production processes.
- Project cost management software with customizable reporting.
Quote: Contact us directly for a quote.
Strengths:
- Highly customizable to business specifics.
- Comprehensive ERP solution.
Limitations:
- High cost of implementation and customization.
- Deployment time is long.
OCC – digiiMS
OOC digiiMS is a comprehensive enterprise management system, focusing on human resource management (personnel, KPI, capacity) but also has a project management module.
Basic features:
- KPI/OKR management, employee performance evaluation.
- Project management (digiiPM) supports cost and resource tracking.
- Human resource management, timekeeping, compensation.
Quote: Contact us directly for a quote.
Strengths:
- Very strong in human resource management features.
- Suitable for businesses that focus on human development.
Limitations:
- Cost management features are not the focus.
- The interface is not really friendly.
BRAVO
BRAVO is one of the leading ERP solutions in Vietnam, providing powerful financial and accounting management software for large enterprises.
Basic features:
- Comprehensive cost management, deeply integrated with other subsystems.
- Provide a diverse and detailed management reporting system.
- Customized to the requirements of large scale enterprises.
Quote: High cost, contact BRAVO directly.
Strengths:
- Stable, reliable solution for large enterprises.
- Ability to handle large and complex data.
Limitations:
- The cost is very high, not suitable for small and medium enterprises.
- Complex deployment process.
Fast Business Online
This is a web-based ERP solution of FAST company, providing full management subsystems for businesses.
Basic features:
- Management of accounting, finance, purchasing, sales, warehouse.
- Provide financial reporting and data analysis.
- Support online payment.
Quote: Software costs from 5,900,000 VND, excluding installation and training fees.
Strengths:
- Web-based, easy to access.
- FAST brand has a long-standing reputation in the industry.
Limitations:
- Lack of detailed reporting and analysis tools.
- Customer support may be limited.
Are you looking for a solution tailored for Vietnamese businesses, with superior automation capabilities and a dedicated support team? Discover Bizzi Expense today!
Group 2: Outstanding international expense management software
This group includes solutions from global brands, featuring advanced technology, international standard processes and strong scalability. However, costs and language barriers, compatibility with Vietnamese regulations can be a challenge.
Ecount
Ecount is a Korean cloud-based ERP solution that offers a fixed price for unlimited users, suitable for small and medium-sized businesses.
Basic features:
- Management of accounting, warehouse, production, sales, purchasing.
- Financial reports are accessible anytime, anywhere.
- Cost data is automatically updated in the ledger.
- Support budget management and import costs.
Quote: About 11,000,000 VND/year for all features.
Strengths:
- Reasonable price, unlimited users.
- Comprehensive ERP solution on the cloud.
Limitations:
- The interface is feature-rich, can be complex and takes time to get used to.
- Support for Vietnamese accounting operations may not be as in-depth as domestic software.
Accounting Seed
It is a flexible accounting software built on the Salesforce platform, allowing seamless connection between sales and financial data.
Basic features:
- Manage ledger, accounts receivable, accounts payable.
- Track costs and revenue by project.
- Tight CRM (Salesforce) integration.
- Allows customization of modules and reports.
Quote: From 1,500,000 VND/month (international price, subject to change).
Strengths:
- Integrates seamlessly with Salesforce.
- Flexible and customizable.
Limitations:
- Primarily suitable for businesses already using Salesforce.
- Costs can be high when adding customizations.
Sage Live
Sage Live (now part of Sage Business Cloud) is a powerful cloud accounting and financial management solution for growing businesses.
Basic features:
- Automate financial processes, cash management.
- Sales and customer relationship management.
- Plan, track project progress and costs.
- Create custom financial reports.
Quote: Contact supplier.
Strengths:
- Powerful, reliable solutions from a global brand.
- Modern interface.
Limitations:
- High cost.
- Not optimized for Vietnam market and regulations.
Oracle ERP
Oracle ERP Cloud is a world-leading enterprise management solution suite, providing comprehensive financial, supply chain, and human resources management tools for large corporations.
Basic features:
- Large scale financial, accounting and budget management.
- Optimizing supply chain and logistics operations.
- Human resource and customer relationship management.
- Complex project management.
Quote: Contact Oracle.
Strengths:
- Extremely powerful, comprehensive and scalable solution.
- Built-in AI and Machine Learning technology.
Limitations:
- The cost of implementation and maintenance is very high.
- Complex, requiring large resources to deploy and train.
- Only suitable for large corporations.
Mint
Mint is one of the world's most popular free personal finance apps, helping users consolidate accounts, track spending, and budget.
Basic features:
- Link bank accounts, credit cards for overall tracking.
- Automatically classify transactions and display them on charts.
- Bill reminders and financial advice.
Quote: Free (with ads).
Strengths:
- Completely free.
- Beautiful interface, easy to use.
Limitations:
- For personal use only, no business features.
- Mainly supports US and Canadian banks, almost impossible to link with Vietnamese banks.
Pocket Guard
Similar to Mint, Pocket Guard is a personal finance app that helps users see how much they can spend after subtracting bills, savings, and financial goals.
Basic features:
- Calculate “In My Pocket”.
- Track cash flow and monitor balances.
- Highly secure with 256 bit SSL encryption.
Quote: There is a free and paid version (PocketGuard Plus).
Strengths:
- The “In My Pocket” idea is simple and useful.
- Security focused.
Limitations:
- Focus on the US market, difficult to link with Vietnamese banks.
- Not suitable for business.
International solutions are powerful but may not be fully suited to Vietnamese characteristics. Try Bizzi Expense for free to see the difference a tailor-made solution makes for your business.
Group 3: Free / Open Source Expense Management Software
These are great options for individuals, freelancers, or micro-businesses who want to start managing their finances without any initial costs. However, they often require some technical knowledge from the user, have less user-friendly interfaces, and lack professional support.
GnuCash
GnuCash is a powerful open source accounting software that uses double entry bookkeeping principles, suitable for individuals and small businesses.
Basic features:
- Double entry bookkeeping, ensuring balanced books.
- Detailed reports in visual graph form.
- Manage stocks, bonds and mutual funds.
Quote: Free of charge.
Strengths:
- Completely free and ad free.
- Advanced accounting features (double entry bookkeeping).
Limitations:
- The interface is outdated and not beginner friendly.
- No official customer support.
- Works on desktop, no official mobile app.
Money Manager Ex (MMEX)
It is an open source, simple and offline personal finance management software that helps to track cash flow securely.
Basic features:
- Manage bank accounts, track spending and income.
- Budget and track progress.
- Financial reports in visual chart form.
Quote: Free of charge.
Strengths:
- Free and open source.
- Simple, easy to understand.
- Works without Internet.
Limitations:
- The interface is not friendly.
- Lack of live customer support.
- Features are pretty basic.
Spendee
Spendee is a personal finance management app with a modern interface, focusing on spending tracking and overall budget management.
Basic features:
- Track income and expenses and manage budget.
- Create a shared wallet to share spending with a group or family.
- Supports multiple currencies.
Quote: There is a free version and a paid version (Plus/Premium).
Strengths:
- Beautiful, modern interface.
- Useful shared wallets feature.
Limitations:
- The free version has many limitations.
- Mainly for individuals and small groups, not for businesses.
AceMoney Lite
AceMoney Lite is the free version of AceMoney personal finance management software, allowing management of up to 2 accounts.
Basic features:
- Manage 2 bank or credit card accounts.
- Track spending and income.
- Budgeting and tracking.
- Support password protection.
Quote: Free (Lite version).
Strengths:
- Simple, light.
- Meet basic personal financial management needs.
Limitations:
- The free version is limited to only 2 accounts.
- Old interface.
- For use on computers only.
HomeBudget
An application designed for family budget management, allowing data synchronization between members to track spending together.
Basic features:
- Track income, expenses, bills, balances.
- Sync accounts between family members.
- Analyze income and expenditure through charts.
Quote: One time paid application.
Strengths:
- The family sync feature is very useful.
- Buy once, use forever.
Limitations:
- Focuses only on family financial management, not suitable for business.
- The interface can be a bit confusing.
Money Mate
Money Mate is a simple personal expense management app that can work offline, helping you record and plan your savings.
Basic features:
- Set up a spending and savings plan.
- Record and calculate daily expenses.
- Use without internet connection.
Quote: Free of charge.
Strengths:
- Simple, easy to use.
- Offline activities.
Limitations:
- The application has been removed from CH Play, difficult to download and install.
- Suitable for very basic personal needs only.
Income and expenditure book: Expense management
This is the general name for many simple applications on the app store, helping users quickly record daily income and expenses.
Basic features:
- Record income and expenses.
- Classify expenses by category.
- Provide simple reports by day, week, month.
Quote: Usually free, with ads or paid version to remove ads.
Strengths:
- Very easy to use, simple interface.
- Focus on a single function: note taking.
Limitations:
- For personal use only.
- Lacks advanced features like budgeting, bank linking.
- Data security is an issue to consider.
Free software is a good start, but businesses need a professional, secure, and scalable solution. Upgrade your financial management with Bizzi Expense today!
Quick comparison table of prominent expense management software
To help you get an overview and make a quick decision, below is a comparison table of 7 typical software based on important criteria.
| Software | Suitable for | Outstanding advantages | Expense |
|---|---|---|---|
| Bizzi | SME & Enterprise | Comprehensive automation, ERP integration, understanding of Vietnamese business, professional support. | Contact |
| 1Office | SME | Comprehensive, highly secure management platform. | Contact |
| MISA AMIS | Micro Enterprises & SMEs | Synchronized ecosystem, prestigious brand. | From 2,950,000 VND/year |
| KiotViet | Retail Store | Tightly integrated with sales management, POS. | Contact |
| Ecount | SME | Fixed price, unlimited users, cloud-based ERP. | ~11,000,000 VND/year |
| Oracle ERP | Enterprise | Comprehensive, powerful, unlimited scalable solution. | Very high |
| GnuCash | Individuals & Micro Businesses | Free, open source, advanced double entry support. | Free of charge |
Must-have features of business expense management software
- Record and track income and expenses:
- Record all revenue transactions and details.
- Track cash flow in real time.
- Classify income and expenditure by category (revenue, production costs, sales, etc.).
- Support many forms of transactions (cash, bank transfer, bank card).
- Planning and budgeting:
- Set and track budgets for each item.
- Cost estimate for business and investment activities.
- Reports and statistics:
- Provide detailed reports on income and expenditure according to multiple criteria.
- Visual statistics with charts and images.
- Support cash flow trend analysis.
- Debt information management:
- Track and manage receivables and payables.
- Warnings and reminders of due debts.
- Decentralization and security:
- Ensure the security of financial data.
- Assign access rights to different users.
Benefits of using cost management software
- Maximum speed up work: Reduces time and effort compared to manual methods.
- Detailed allocation for each revenue/expenditure item: Helps manage installment payments and track details.
- Build a reasonable budget and spending plan: Track and adjust transactions over time, detecting surpluses.
- Support for managing income and expenditure in multiple currencies: Automatically convert exchange rates when transactions occur.
- Remote Management: Allows monitoring of financial status anytime, anywhere.
- Absolute data security: Store data securely on the server.
- Provide detailed reporting and financial analysis with clear, accurate data; cUpdate and share data on the common system.
- Understand your financial situation: Closely monitor cash flow and promptly handle issues.
- Integration with other systems: WOMENbroken accounting software, banking, ERP software, CRM, helps manage finances synchronously.
Frequently Asked Questions (FAQ)
1. Do small businesses really need expense management software?
Yes, it is essential. For small businesses, tight cost management from the start is vital. Software helps automate manual tasks, reduce errors, provide a clear view of cash flow, and help business owners make better business decisions instead of wasting time on paperwork.
2. How to choose the most suitable cost management software?
You should base this on three main factors: Size (are you an individual, SME or large enterprise?), Feature needs (do you need basic or advanced management, do you need integrations?), and Budget. Start by identifying the biggest problems in your current financial processes and find software that solves them.
3. How much does it typically cost to implement cost management software?
Costs vary widely. There are free apps for individuals, monthly/annual paid plans for SMEs (ranging from a few hundred thousand to a few million VND per month), and ERP solutions for large enterprises can cost hundreds of millions to billions of dollars to implement and customize. You should contact the supplier directly for an exact quote.
4. What is the main difference between free and paid software?
Free software is often limited in features, number of users, storage space, and lacks professional technical support. Paid software offers a full feature set, customization, integration, greater security, and customer support, which are all critical to running a business.
5. What advantages does Bizzi Expense software have over other software?
Bizzi Expense stands out for its ability to automate financial accounting processes intelligently, from collecting and processing invoices automatically to creating and approving expenses according to the digital process. The solution is specially designed for the Vietnamese market, easily integrated with popular ERP and accounting systems, helping businesses save up to 80% of time and operating costs.
Conclude
In short, investing in the right cost management software is a strategic decision that helps businesses optimize resources, tightly control cash flow and create a solid financial foundation for growth. No matter what your scale, digital transformation of financial processes is an inevitable trend to improve competitiveness.
Bizzi Expense provides a comprehensive solution, with automation features, irregular spending alerts and flexible integrations, supporting Vietnamese businesses to achieve stability and sustainable growth.
- Sign up today to receive a free 6-month trial of Bizzi Expense! https://bizzi.vn/dang-ky-dung-thu/.
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