Question 1

What is spend management?

Accepted Answer

Spend management is the process of overseeing, controlling, and tracking how your company spends money. It involves activities like budgeting, setting spending limits, approving purchases, and monitoring expenses to ensure they align with your financial goals. Effective spend management helps businesses control costs, improve efficiency, and gain valuable insights into their financial health.

Brex is a spend management tool that takes spend management a step further and allows you to pre-approve spend before it even happens with embedded spend limits across cards, reimbursements, travel booking, and invoices. And with Brex AI, the policies you set are auto-enforced with every transaction.

Question 2

How to manage expenses?

Accepted Answer

Managing expenses requires visibility across multiple types of spending — travel, procurement, operating expenses, and more. Most companies use multiple tools for these types of spend, so to manage expenses, they need to sign in and out of multiple tools all day just to manage expenses.

This is not an efficient or accurate way to manage expenses because it wastes time, incurs excess SaaS costs, and requires a lot of manual work to compile a single view. This approach to manage expenses also forces companies to be reactive because they have to wait for data to populate in their various tools and then carry it over to a single source for analysis and review.

The best way to manage expenses is through a proactive approach with real-time visibility of budgets and actual expenses. This will allow companies to plan a budget in advance of the required spend, allocate the budget to employees and managers with embedded policies, track their expenses against the plan, and make adjustments if a budget is approaching limits in one area or there is unused budget to reallocate. To manage expenses the right way, companies also need real-time reporting and anomaly detection to improve and accelerate their decision-making.

Question 3

What types of expenses does a business need to manage?

Accepted Answer

Common business expenses include travel and entertainment or T&E costs, consulting fees, internet bills, advertising and marketing, rent, and taxes. By organizing these costs into business expense categories, companies can more effectively create budgets, correctly file taxes, control expenses, and maintain accurate books.

Every industry has a set of commonly used business expense categories. Depending on the accounting tool a company uses, there may already be expense categories set up. Business travel and entertainment (T&E) is one of the biggest expense categories and is highly important to track and control closely. Group events, flights, tickets to sports and concerts, galas, and networking events fall into this category. Business meals and travel expenses can get out of hand, so it's imperative to keep accurate records and receipts and control costs for this expense category from the outset.

Question 4

What merchants does Brex automate receipt collection for?

Accepted Answer

Brex automates receipt collection from 1000s of merchants including Slack, Gmail, Uber, Lyft, and Amazon.

Question 5

What are Brex’s enterprise spend management features?

Accepted Answer

Brex allows you to manage all of your global spend, all in one place. It is the only truly global platform for enterprise spend management that allows you to easily adapt to foreign markets and regulations.

With Brex, you can personalize spend limits and policies to each entity’s customs and currency. The right policy will be intelligently applied to expenses and reimbursements, and expense reports will be auto-filled to boost compliance.

Learn more about how Brex serves enterprise businesses here.

Question 6

How can I improve my company's spend management process with Brex?

Accepted Answer

Brex offers several features to streamline and improve your company's spend management process:

Centralized platform: Manage all your spending in one place, including corporate cards, expense reports, and bill payments.

Automated workflows: Automate tasks like expense report approvals and invoice processing to save time and reduce manual errors.

Real-time insights: Gain real-time visibility into your spending with detailed reports and dashboards.

Spending controls: Set budgets and spending limits for employees with Brex cards to ensure responsible spending.

Question 7

How can I set budgets and spending limits for employees with Brex cards?

Accepted Answer

Brex allows you to easily set budgets and spending limits for individual employees or teams. You can define spending limits by category (e.g., travel, marketing) or vendor, giving you granular control over company spending.

Question 8

Does Brex integrate with my existing accounting software?

Accepted Answer

Yes, Brex integrates with a variety of popular accounting software solutions such as QuickBooks, NetSuite, and Xero. This allows for seamless data transfer between your Brex account and your accounting system, saving time and effort during reconciliation.

The future of spend management.

Manage global spend and close the books in real time — with unmatched automation of manual expense work.

The future of spend management.

Manage global spend and close the books in real time — with unmatched automation of manual expense work.

All your spend, all in one place.

Control global spend smarter with a single source of truth.

Cards

Reimbursements

Bill pay

Business account

Travel

Embed your policy in every swipe.

Automate expense reviews.

Don’t waste hours reviewing every expense and risk missing ones that actually need a closer look — let Brex AI assist you.

“By making it easier for employees to comply, finance went from the bad cop to the hero.”

Get expense reports on time, automatically.

Brex automates document collection, and Brex Assistant helps employees with questions and tasks — so you can close the books faster.

Increase accountability with Live Budgets.™

Set top-level budgets across departments and assign them to department heads. They can provision spend to individuals or teams, and track usage in real time. Brex AI will even flag anomalous activity to help you keep everyone on budget globally.

“P&L owners have a real-time view into their budgets.”

End the month-end hassle.

Brex is built for continuous close.

Insights you can act on.

Run real-time spend and budget reports across cards, reimbursements, travel, and payments to find ways to save and improve ROI. Customize AI-powered insights, such as for spikes in spending, that help improve decision making.

Reimburse employees anywhere, fast.

US and international employees can get reimbursed in three days or less — and your policy will be auto-applied.

Manage spend globally, operate locally.

Brex makes it easy to manage global spend across locations and operate in virtually any currency.

Welcome to the future of spend management.

Let’s talk about how Brex can help you automate control and compliance, and gain real-time insights to improve ROI.

Welcome to the future of spend management.

Let’s talk about how Brex can help you automate control and compliance, and gain real-time insights to improve ROI.

FAQ