In today's fast‐paced business world, managing expenses quickly and accurately is crucial for businesses of all sizes. Two leading solutions in the expense management space are Expensify and Hubdoc. In this post, we'll explore both platforms in detail, discuss their key features and benefits, and help you decide which tool might be the best fit for your organization.

Expense management is more than a bookkeeping task—it is a strategic component of your financial operations. Whether you are a small business owner or work with a multinational organization, having an effective system in place to capture receipts, track mileage, submit and approve expenses, and integrate with your accounting software is essential.

Expensify and Hubdoc are two powerful tools designed to simplify this process in unique ways:

• Expensify automates the entire spend management process, enabling you to scan receipts, track mileage, manage corporate cards, reimburse employees, pay bills, send invoices, and even book travel.
• Hubdoc focuses on remote document collection. It allows users to capture and sync bills, receipts, bank statements, and other relevant documents directly with your accounting software—making integrations with platforms like QuickBooks and Xero very straightforward.

In this comprehensive comparison, we'll break down the differences, highlight similarities, and provide user insights to guide you through the "expensify vs hubdoc" decision-making process.

Understanding Expensify

Expensify has quickly emerged as a leader in the expense management market by offering a straightforward and effective way to capture and process expenses on the go. Its user-friendly interface and robust features make it a popular choice for businesses of all sizes.

One of the standout features of Expensify is its automated receipt capture. Using SmartScan technology, which combines optical character recognition (OCR) with human-assisted review, Expensify can quickly extract data such as merchant name, date, and amount from receipts. This means you can simply snap a photo of your receipt and let the system handle the rest.

Expensify's mobile-first approach is another key selling point. The mobile app makes it simple to submit expenses wherever you are, while the web interface provides detailed views and customization options for expense reports. This flexibility is particularly valuable for businesses with employees who travel frequently or work remotely.

Key Features of Expensify

Expensify offers a range of features designed to streamline expense management:

• Automated Receipt Capture: SmartScan technology for quick data extraction
• Mobile and Desktop Integration: User-friendly apps for on-the-go expense submission
• Expense Reporting and Management: Generate, review, and submit expense reports quickly
• Corporate Card Integration: Streamline transaction reconciliation and enable real-time expense tracking
• Mileage Tracking: Automatically calculate and report travel expenses

Many small business users appreciate the simplicity of taking a picture of a receipt at the point of sale. This capability eliminates the need for physical documentation and reduces the risk of losing receipts during travel.

Pricing and Accessibility

Expensify offers a range of pricing tiers to suit different business needs. These include:

1. A free version with basic features for individuals and small teams
2. Paid subscriptions starting at a competitive monthly rate for more advanced features
3. Custom enterprise plans for large organizations with complex needs

This flexibility allows businesses—especially those that are small or budget-conscious—to access a robust expense management tool without a significant upfront cost. As your business grows, you can easily upgrade to a more feature-rich plan to meet your evolving needs.

Exploring Hubdoc

Hubdoc, a Xero company since 2018, takes a different approach by emphasizing automatic document collection and synchronization with your accounting software. This focus on document management makes it an attractive option for businesses that deal with a high volume of digital invoices and bills.

At its core, Hubdoc specializes in collecting bills, receipts, bank statements, and other financial documents automatically. Once these documents are captured, they are easily accessible via various cloud storage options. This centralized approach to document management can be a game-changer for businesses struggling to keep track of their financial paperwork.

One of Hubdoc's strengths is its seamless integration with popular accounting platforms like QuickBooks and Xero. Once documents are imported into Hubdoc, they're ready for further processing in your accounting system, streamlining your bookkeeping process and reducing the risk of data entry errors.

Key Features of Hubdoc

Hubdoc offers several features designed to simplify document management and bookkeeping:

• Document Capture and Sync: Automatically collect and organize financial documents
• Integration with Accounting Software: Seamless connection with platforms like QuickBooks and Xero
• Remote Document Retrieval: Fetch and store digital copies of important documents from anywhere
• Auto-Archive Options: Automatically archive documents to cloud storage solutions like Google Drive

These features make Hubdoc particularly useful for businesses that prioritize document aggregation and seamless integration with bookkeeping software. By centralizing document capture and management, Hubdoc can significantly reduce administrative workload and improve bookkeeping accuracy.

Pricing and Suitability

Hubdoc offers a competitive pricing model with plans that typically do not require entry-level setup fees. Its flat rate pricing is particularly attractive for businesses that process a high volume of digital invoices and bills.

While Hubdoc's core document-management features are now being integrated into many online accounting software packages, its original focus on remote document collection still makes it a compelling choice for many users. This is especially true for businesses that value a centralized document capture solution and want to reduce their administrative workload.

Deep-Dive Comparison

When evaluating Expensify vs Hubdoc, it's important to look at several crucial aspects that differentiate the two platforms. Let's break down some key areas of comparison:

Expense Capture and Receipt Scanning

Expensify emphasizes the mobile experience with its SmartScan feature, allowing users to take pictures of receipts for automatic data extraction. This makes it ideal for employees who are on the move and need to capture expenses in real-time.

Hubdoc, on the other hand, takes a broader approach by not only capturing receipts but also pulling in a variety of financial documents such as bills, statements, and invoices. While it does support mobile capture, its strength lies in the seamless syncing of documents to your chosen accounting software.

Automated Workflows and Approvals

Expensify offers automated expense reports and approval workflows, making it particularly effective for companies with a high volume of transactions that require multiple levels of review. This can significantly speed up the expense submission and approval process.

Hubdoc focuses more on document organization rather than detailed expense reporting. Its automated feed from suppliers and banks is a powerful tool for businesses that want to centralize their bookkeeping documents without necessarily tracking every minute expense.

Integration with Accounting Software

Both platforms offer integration with popular accounting systems, but there are some differences:

• Expensify integrates with a wide array of platforms such as QuickBooks, Xero, and NetSuite
• Hubdoc has particularly strong integration with Xero, ensuring accurate and up-to-date records in your accounting system

The choice between the two often depends on which accounting software you're currently using and how deeply you need the expense management tool to integrate with your existing systems.

User Experience and Interface

The user experience can make or break an expense management tool. Here's how Expensify and Hubdoc compare:

Expensify's mobile app is noted for its ease of use. Users appreciate being able to capture and submit expenses quickly, which is particularly valuable for those who travel frequently or have a lot of on-the-go expenses. However, some heavy users have pointed out that the inability to perform mass updates can be a drawback when dealing with a large volume of expenses.

Hubdoc is known for its simplicity and straightforward interface. Once the initial setup is complete (often assisted by a bookkeeper), regular usage feels intuitive, and the system requires minimal ongoing adjustments. This can be a significant advantage for businesses that want a "set it and forget it" approach to document management.

Both platforms have their strengths when it comes to user experience, but the best choice will depend on your specific needs and workflow preferences.

Support and Customer Service

When implementing a new expense management system, reliable support can make all the difference. Let's look at how Expensify and Hubdoc stack up in this area:

Many users highlight Expensify's supportive customer service. Dedicated account representatives have helped customize reports and recommend solutions based on specific business needs. The availability of a supportive chat service and a well-documented online help center makes troubleshooting fairly straightforward.

Hubdoc provides excellent documentation and a straightforward setup process. While some users have mentioned that initial integration can be a bit challenging, the support is generally considered reliable, especially for businesses working primarily with digital documents and invoices.

Overall, both platforms seem committed to providing quality support to their users, which can be crucial when implementing and maintaining an expense management system.

Real-World Use Cases

Understanding how these tools perform in real-world scenarios can help you make a more informed decision. Let's look at how Expensify and Hubdoc cater to different business sizes and needs:

Small Businesses and Freelancers

For many small business owners and freelancers, the need for a mobile-first expense management tool is critical. Expensify's simplicity and robust mobile capabilities mean that individuals who are constantly on the go can capture expenses effortlessly. The free version of Expensify is a great starting point, and many users report that it is worth the upgrade to a premium plan as their business scales.

On the other hand, freelancers who work predominantly through digital transactions may find Hubdoc's ability to gather invoices, statements, and bills from various sources particularly useful. The platform's integration with Xero and other accounting software ensures that all documents are easily accessible during tax season or when reconciling bank statements.

Mid-Sized to Large Organizations

Mid-sized and large firms often require a more sophisticated system to handle a high volume of transactions. Expensify, with its multi-level approval workflows and extensive integration options, caters well to organizations that need to monitor expenses closely across multiple departments. Its ability to reconcile corporate credit card expenses in real-time and its dynamic expense reporting features add significant value in complex financial environments.

Hubdoc is also a strong contender in the space of document management for larger organizations that have significant paperwork to manage. With its auto-fetch, auto-archive capabilities, and a flat rate pricing model, companies can significantly reduce the administrative workload for their accounting departments.

The choice between the two often comes down to whether the organization prioritizes a fully integrated expense management system (Expensify) or if it needs a tool that excels at remote bill and document collection (Hubdoc).

Market Presence and Customer Base

Understanding the market share and customer demographics can provide insights into which tool might be best suited for your needs. Here's a brief overview:

Expensify boasts an estimated 1,291 customers across 10 countries, holding a robust position within the financial reporting category. Its customer base spans the United States, United Kingdom, and Canada, reflecting a broad geographic presence.

Hubdoc, while having a smaller customer base of approximately 432 customers in a similar global footprint, is well-regarded amongst businesses particularly in the United States, Australia, and Canada. Its niche focus on document management makes it especially popular for companies looking to streamline their bookkeeping processes.

This difference in customer count and market share shows that Expensify is often the go-to solution in scenarios where comprehensive expense management is needed, while Hubdoc remains a trusted tool for businesses that value remote document capture and archival.

Integration with Other Financial Technologies

In today's interconnected business world, the ability of expense management tools to integrate with other financial technologies is crucial. Both Expensify and Hubdoc offer integrations, but their approaches differ:

Expensify integrates with over 40 apps ranging from accounting and HR to travel management. This makes it ideal for companies that rely on a diverse financial ecosystem and need their expense management tool to communicate seamlessly with various other platforms.

Hubdoc's deep integration with Xero, along with its auto-archiving to cloud services like Google Drive, makes it a compelling option for businesses that need to centralize all financial documents in one place. While it may not have as many integrations as Expensify, its focus on document management and accounting software integration can be a perfect fit for businesses with specific needs in these areas.

When choosing between the two, consider which other financial technologies you're currently using and how important it is for your expense management tool to integrate with them.

Making Your Decision

Choosing between Expensify and Hubdoc depends on several factors related to your organization's specific requirements. Here are some key considerations to keep in mind:

1. If rapid, on-the-go expense capture with robust reporting and approval workflows is your primary need, Expensify is likely the better fit.
2. For businesses looking for a solution that excels at remote document collection and streamlined digital filing, Hubdoc might be the right choice.
3. Consider your current accounting software and which platform integrates more seamlessly with it.
4. Think about the scale of your operation and how much customization you need in your expense management process.

It's also worth considering aspects such as implementation time, integration requirements with your current systems, and your budget. Many organizations find that a detailed trial period or a consultation with the vendors is an effective way to assess which tool aligns best with their workflow.

Streamline Your Finances with the Right Tool

In the Expensify vs Hubdoc debate, there's no one-size-fits-all answer. Both tools offer distinct advantages that can significantly improve your financial management processes. The key is to choose the one that best aligns with your business needs and workflows.

Expensify shines with its automated, mobile-first expense capture and robust reporting features. It's ideally suited for companies that require rapid expense processing and seamless corporate card integration. If managing and approving expenses quickly is critical for your business, Expensify might be the better fit.

Hubdoc, on the other hand, stands out for its advanced document capture and sync capabilities, particularly when paired with accounting software like Xero. It's a smart choice for businesses looking to reduce administrative burden by centralizing bills, receipts, and other financial documents. If your focus is on precision document management and reducing paper-based processes, Hubdoc could be the ideal solution.

Ultimately, the right choice will depend on the nuances of your business operations, budget constraints, and the level of automation you require for expense management. Consider experimenting with trials of both systems, gathering feedback from your team, and reviewing how they integrate into your existing financial ecosystem.

Remember, the goal is to find a solution that saves you time, reduces errors, and improves your overall financial accuracy. Whether you choose Expensify or Hubdoc, you'll be taking a significant step towards more efficient, streamlined expense management that can save you hours of administrative work and improve your financial operations.

Take the time to evaluate your current workflow, assess your priorities, and envision how each tool could fit into your business processes. By making an informed decision, you'll be setting your business up for increased efficiency and smoother financial management in the long run.