Brex Review
Our score 9.4
What is Brex?
Review of Expense Management and Accounting Software
After extensively testing an impressive expense management and accounting software, I am thrilled to share my findings. This robust solution ticks all the boxes when it comes to streamlining financial processes and ensuring accurate expense tracking. With its user-friendly interface and powerful features, it has the potential to revolutionize expense management for businesses of all sizes.
Features
- Expense Tracking: This software excels in simplifying the process of tracking expenses. It allows users to effortlessly upload receipts and categorize expenses, ensuring accurate record-keeping and reducing the risk of manual errors.
- Automated Expense Reports: The software automatically generates detailed expense reports, eliminating the need for tedious manual compilation. This time-saving feature allows users to quickly review and submit expense reports for approval.
- Integration with Accounting Systems: Seamlessly integrating with accounting software, this solution eliminates the need for duplicate data entry. Users can easily sync expenses with their existing accounting system, ensuring accurate financial records.
- Real-time Analytics: The software offers a range of analytical tools that provide valuable insights into expense trends, enabling businesses to make data-driven decisions and optimize their spending.
- Policy Enforcement: With customizable expense policies, this software ensures compliance with company spending guidelines. It alerts users when an expense violates a policy, allowing businesses to maintain control over their expenses.
User Reviews
"This software has revolutionized our expense management process. It's user-friendly, efficient, and highly accurate. I can't imagine going back to our old manual system!" - John D., CEO
"The integration with our accounting system has been seamless. It has saved us countless hours of manual data entry and improved our financial record-keeping." - Sarah L., CFO
Frequently Asked Questions
- Can this software be customized to fit our specific expense policies? Absolutely! The software offers extensive customization options, allowing you to define expense policies that align with your company's needs.
- Does this software support multiple currencies? Yes, it supports multiple currencies, making it ideal for businesses that operate internationally.
- Can I easily export expense data for further analysis? Certainly! The software provides the option to export data in various formats, enabling you to conduct in-depth analysis using your preferred tools.
Overall, this expense management and accounting software is a game-changer for businesses seeking to optimize their financial processes. With its robust features, seamless integration, and user-friendly interface, it offers tremendous value to organizations of all sizes. I highly recommend giving it a try for unparalleled efficiency and accuracy in expense management.
Overview of Brex
Overview of Brex Features
- Compliance Management
- Performance Management
- Receipt Management
- Reporting/Analytics
- Risk Management
- Spend Control
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Pricing Plans Update date : 2024-12-18
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Comments
"Excellent Service!"
What do you like best about Brex?
I really like Brex for its seamless expense management and robust financial tools tailored for modern businesses. The platform simplifies company spending with features like virtual cards, automated expense categorization, and real-time tracking, which save time and reduce manual effort.
The upsides of using Brex include generous rewards tailored to business needs, such as travel and SaaS discounts, a high credit limit without requiring personal guarantees, and easy integration with accounting tools. It’s a great solution for scaling businesses looking for flexibility and streamlined financial management.
What do you dislike about Brex?
While I absolutely love Brex, there are a few areas that could be improved. The platform’s focus on startups and high-growth companies means its underwriting criteria might exclude smaller or less-funded businesses. I also find the lack of dedicated customer support or live assistance challenging when issues arise.
The reporting and analytics tools, while useful, could be more customizable for businesses with specific or complex needs. Lastly, certain fees or conditions on reward redemption could be more transparent to help users maximize their benefits.
What problems is Brex solving and how is that benefiting you?
Brex is helping me manage my expenses while out on business and makes it so easy to track the expenses while also allocating what they were for.
"Easy to set up, Easy to use -- highly recommend"
What do you like best about Brex?
It was so easy to register and get set up that I kept waiting for the other shoe to drop, or the catch to appear. It is just as user friendly as it appears though - any time I have needed to use my Brex card, interact with the Brex app, or find something on their website, it has been easy to find.
What do you dislike about Brex?
Nothing really comes to mind; I use it every once in a while, and it meets my needs and the needs of our company nicely.
What problems is Brex solving and how is that benefiting you?
We meet offsite a few times a year, and Brex enables me to easily book flights, pay for the hotel, etc. The option to request to have the credit limit increased is very helpful in case it is needed.
"Brex is the future of business banking!"
What do you like best about Brex?
Brex has tools, products, and features that no other financial institution is able to match. They offer free incoming and outgoing wire transfers and ACH transfers, something that the big banks charge hundreds of dollars per year to send and receive. In addition to that, they have a treasury account that pays an enourmous yield on the funds you maintain. The ability to send and recieve your transfers is seamless and incredible. You can do it from your phone on the Brex app or on the computer. Getting set up with Brex is also super easy, it took me less than a day when I started my business to get it up and running. Customer support is the best I've ever experienced: from regular check-ins with their software developers, to stopping payments, they are fast, easy to work with, and provide real world help. I log in to the Brex app at least once a day to check balances, send payments, invoice vendors and partners, etc... Once you try Brex you won't want to use any other financial institution. The last thing I want to mention is integration with other banks, there are only a couple I've had problems linking, but it's always because the other bank doesn't have the software or capability. Something I woulnd't fault Brex for. Why would you give the competition the keys and put them in the drivers seat?
What do you dislike about Brex?
The only shortcoming that Brex has, is the lack of physical checks. While antiquated and outdated, checks can still be a big part of business dealings. I get $10,000 - $100,000 in wire transfers from title companies every month, occasionally, I get paper checks instead. When I used Bluevine, they recognized these as normal and customary, and made the entire balance of the checks available immediately. I've only deposited two checks with Brex, but both had very long holds placed on them. I would appreciate certified funds check from title companies, not having any holds placed on them, as it can impact payroll and bill management.
What problems is Brex solving and how is that benefiting you?
Brex solves the payment problem for me, making payments for my office spaces, business expenses, etc.. The ability to send free wire transfers from anywhere, anytime has made my business more reputable and eager for people to work with me. That stronger reputation translates to more referrals, more business, and more profit.
"Brex makes my life incredibly easy."
What do you like best about Brex?
I've been in sales for 31 years and this is the easiest way I've ever seen to keep records of my expenses. The texting photos of each receipt is something that a 7 year old could do. Picking the expense category is even easier.
My only wish is that they would make something I can use to keep track of my personal finances.
What do you dislike about Brex?
Every now and then it's not able to match the receipt so I have to manually put it into Brex. That's not really a big deal because I always double check in the system that everything is correct.
What problems is Brex solving and how is that benefiting you?
My problem with keeping records is the fact that I'm terrible at organizing. I had to write on paper my expenses before Brex and now I just text a picture of the receipt.
"So easy to use!"
What do you like best about Brex?
It's easy to use! I wasn't sure I was going to like it at first, but did Brex ever prove me wrong!
It's not only easy to use, it sends me reminders to upload my receipts AND takes me to the right charge on my card! Reduces the time I need to spend on this type of work and makes it easy for me to stay organized!
What do you dislike about Brex?
Nothing! I haven't found anything I don't like yet.
What problems is Brex solving and how is that benefiting you?
The time I used to spend matching up purchases with receipts was a lot. Now with Brex, I get reminders right in my email inbox to upload the right receipt with the matched expense. Absolutely amazing!
It also keeps track of the different cards I have and the spending amounts on each card - again, I don't have to manage this - Brex makes it easy!
"So easy to use, covers all of our needs"
What do you like best about Brex?
Brex is really easy to use, and covers all of our needs. We were previously at a bank that was very old fashioned with limited online services. We started using Brex just for our corporate cards, but found it so good that we moved all of our business banking over to their platform. They are very easy to work with, and the products are intuitive to learn, and comprehensive in their features.
What do you dislike about Brex?
Honestly, I can't think of anything. I only wish I could use Brex for my personal finances as well!
What problems is Brex solving and how is that benefiting you?
We use Brex for corporate cards, expense management and business banking. Expenses via the corporate cards are exceptionally easy to manage with workflows that remind you to submit receipts, prompt for approvals, etc, all out of box. We moved our banking over to Brex because it integrates with additional systems we use, and is easy and fast for online ACH and wire payments with little overhead.
"Staying on top of my work expenses has never been easier (or more fun)"
What do you like best about Brex?
Brex has made the process of submitting my receipts, memos, and otherwise looking after my expenses for the accounting department an absolute breeze. The interface they've designed to interact with my expenses is intuitive, easy to use, and so flexible. You can email your receipts, upload manually, upload from your smartphone.. it's remarkable.
What do you dislike about Brex?
I honestly can't think of anything. It's been a delight to have my own company credit card with my own linked portal to manage my expenses.
What problems is Brex solving and how is that benefiting you?
Brex allows me to make purchases on behalf of my organization very quickly. It gives me autonomy to pay for what I need, when I need it, without having to wait for special authorizations or bottlenecks in finance and accounting. On top of that, I am able to quickly upload receipts and memos to my expenses without having to navigate anything tricky or complex. Accounting is not my forte... I'm a marketer. Brex has made my life so much easier.
"ROBUST YET SIMPLE BANKING, EXTREMELY HIGH QUALITY SUPPORT, SCALEABLE CARD PROGRAM"
What do you like best about Brex?
1. Bank account is second to none - ability to provision accounts in seconds, built in treasury account with industry leading APY, ACH whitelisting capability, free wires/ach both domestic and international
2. Card program that scales with us - it can be very simple when you start, but you can make it as intricate as you'd like when you have the need.
3. Support is second to none - when I need them, they answer the phone / chat in seconds, not minutes or much longer like others...they focus on resolutions on the spot, giving me peace of mind
What do you dislike about Brex?
1. I wish there was more education on how to propertly use certain features which I am setting up for the first time, like Spend Limits and Policies.
What problems is Brex solving and how is that benefiting you?
1. Business banking
2. Card program
3. Accounts payable
"Highly Rated for Ease of Use & Business Banking"
What do you like best about Brex?
Brex excels at facilitating international payments with its multicurrency support, allowing businesses to send and receive payments globally. It simplifies transactions by automating currency conversions and enabling seamless transfers in various currencies. This is especially useful for companies operating in multiple countries, as it ensures smooth, efficient financial management without the need for separate platforms. Brex also provides robust reporting and tracking tools, ensuring that international payments are transparent and well-documented.
What do you dislike about Brex?
Honestly, there's nothing I dislike about Brex—I love it! The platform makes managing expenses and international payments incredibly easy and efficient. Its user-friendly interface, powerful tools, and seamless integrations are all top-notch.
What problems is Brex solving and how is that benefiting you?
Brex is also solving the problem of managing startup spending by offering excellent perks. These perks help control costs and provide access to a wide range of tools that are essential for growing businesses. From discounts on software to credits for cloud services, these benefits allow startups like ours to maximize resources while keeping expenses in check, giving us more flexibility to scale efficiently.
"Brex is a super-useful way for small and medium sized companies to automate purchasing"
What do you like best about Brex?
The big advantage with Brex is the integration of the issued credit card and the expense accounting software. This allows people within our organization a very simple way of accounting for business expenses from meals and travel to supplies and equipment. The review and approval process is also simple and consolidated. The entire process is really efficient so that employees don't spend a lot of time having to assemble complex expense reports and managers can review expenses in a well organized format.
What do you dislike about Brex?
I'm not sure there are any downsides. I haven't used Brex yet for air travel, but I assume that the loss of airline points for credit card purchases might be a drawback for some. I suppose in those instances, an employee would have the option of paying out-of-pocket and then getting re-imbursed through Brex, but honestly I think that wouldn't be a big deal either way.
What problems is Brex solving and how is that benefiting you?
I used to accumulate expense reports and receipts and was always spending time trying to line up credit card purchases with comapny expenses. Brex gets rid of all of this in a timely and efficient manner. I can focus on my job more because I am spending a lot less time both writing and reviewing expense reports.
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