Company Market Research Report

Company Overview

Name and Mission

• Name: ProSpend (formerly expensemanager)

• Mission: To build next-generation finance tools that empower businesses to make proactive financial decisions and enable their people to be more productive.

Founding Information

• Founded: Over 10 years ago

• Founder: Sharon Nouh

Key People

• CEO & Founder: Sharon Nouh

• Head of Product & Strategy: Paul Russell

• Head of Growth & Marketing: Steve Daskalakis

• Head of Customer: Ingrid Heal

• Director - Sales and Partnerships: Phillip Vella

• Channel Partner Manager: Carl Brooks

Headquarters

• Location: Level 6, 65 Berry Street, North Sydney, NSW 2060, Australia

Employees

• Number of Employees: No information is available

Revenue

• Revenue: No information is available

Known For

• Known For: Being the pioneer of expense management in Australia and its continual innovation in business spend management.

Products

General Overview

ProSpend offers a comprehensive suite of tools for business spend management, integrating expense management, accounts payable, and virtual cards into a single platform to provide greater control over business spend.

Detailed Description

1. Budgets

• High-Level Description: Provides visibility and control over budgets.

• Key Features:

• Multi-dimensional setup options

• Opening balances

• Reporting capabilities

2. Expenses

• High-Level Description: Streamlines all types of business expenses.

• Key Features:

• Edit, submit, and approve claims

• OCR scanning for receipt capture

• Mileage claim creation using Google Maps

• On-the-go approval features

3. Virtual Cards

• High-Level Description: Offers smarter and proactive company cards.

• Key Features:

• Card and reimbursement functionalities

• Fraud control using OCR and AI technology

4. Accounts Payable

• High-Level Description: Automates accounts payable processes.

• Key Features:

• Integration with existing financial systems

5. Purchase Orders

• High-Level Description: Facilitates the management of purchase orders.

• Key Features:

• Flexible and configurable workflows

6. Travel Manager

• High-Level Description: Manages all aspects of business travel.

• Key Features:

• Travel reconciler for expense tracking and approval

Recent Developments

New Products Launched

• Virtual Cards: Launched products that improve the way businesses manage expenses and enhance security and transparency through features like temporary virtual cards.

New Features Added

• Fraud Control: Enhanced OCR and AI technology for invoice payment protection and fraud prevention.

• Budgets Module: Enhanced visibility for efficient spend control and management.

New Partnerships

• ProSpend has partnered with various industry leaders:

• Gold Referral Partners: Kilimanjaro Consulting

• Silver Referral Partners: AlphaBiz, Ardento, BDO New Zealand, BusinessHub, Cloud Factory, Commercial IT, Communicat, Focus Technology, Illuminance Solutions, Jcurve, Leverage Technologies, Metisc, Fujifilm Microchannel, Momentum, Solutions Plus, Stratus, Usage Business Solutions, Wild Tech, The Bean Counters, Field Insight, Avanza Solutions, Aptus, Brunton, Giuntabell

• Standard Referral Partners: Archer Technologies, BCPrise, Four Partnership, Glass Wall Labs, Gtec Solutions, Helm Business Information Systems, QA Business, Solutions Connect, Verde, Acacia, The Practical Enterprise Group, Tig Freight, My Integrator, Cloudzone One, Thrive, Synergy, iCatalyst, Progressive Business Technologies, Primacc

• Technology Partners: Amazon Web Services (AWS), Australian Taxation Office (ATO), Wiise, Pronto, Wise, Reckon, Xero, Sage, MYOB

Customer Testimonials

• Friends School: "ProSpend makes it easy for our staff to submit and approve invoices and claims. It assists us to more efficiently administer corporate purchasing cards."

• RGF Staffing: "The ProSpend invoice module has automated our accounts payable process and saved costs on printing, filing, storage, and manpower."

• Animals Australia: "We’ve reduced the time to process a supplier invoice approval and payment by a number of days."

Additional Information

• Industry Recognition: ProSpend continues to innovate and is recognized in the business spend management space, offering highly configurable solutions to adapt and scale with evolving business requirements.

Conclusion

ProSpend has established itself as a leader in business spend management by offering innovative and highly configurable financial tools. Continual product enhancements and strategic partnerships underline its commitment to helping businesses achieve proactive and productive financial management.