Concur vs e-conomic
Last Updated:Our analysts compared Concur vs e-conomic based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.
Product Basics
Product Assistance
Product Insights
- Reduce Cost: Connect various sources of expense data and reduce the need for manual information entry. Make more intelligent business decisions with accurate and consolidated data.
- More Centralized Data: Connect with over 150 apps and spend data giving employees the freedom to work without hunting down information.
- Ensure Compliance: Automate policy upgrades to ensure compliance. Leave no room for non-compliance by flagging exceeded spending thresholds for the employees.
- Accessibility: Access the system by web or mobile app. Record expenses through the journey in the app while on the go. Manage travel and costs quickly and easily – including photographing receipts and attaching them to the expense claim.
- Go Paperless: Eliminate the need for paper receipts by storing all receipts in the receipt store.
- Easy Approval: Approve expenses across the different departments with real-time notifications.
- More Straightforward Invoice Management: Review the invoice and submit it without any manual intervention.
- Minimize Risk: Mitigate risk by importing feeds from travel suppliers and corporate credit card providers. Protect the business in tax season by creating an accurate audit trail.
- Transparency: Check for new ways to save money by gaining complete control over the organization’s funds. Keep a tab of open but unapproved expenses in the system. Report spending across each department to identify areas of excess.
- Time Efficiency: Automate repetitive accounting tasks, such as invoicing and bank reconciliation, freeing up valuable time for strategic decision-making.
- Real-Time Financial Insights: Access up-to-date financial data and reports, enabling informed business decisions and proactive financial management.
- Scalability: Easily adapt to business growth with scalable features that accommodate increasing transaction volumes and complex accounting needs.
- Collaboration: Facilitate seamless collaboration between accountants, bookkeepers, and business owners through shared access to financial data.
- Cost Savings: Reduce overhead costs associated with manual accounting processes and minimize errors that could lead to financial discrepancies.
- Compliance Assurance: Stay compliant with local and international accounting standards and regulations, reducing the risk of legal issues.
- Data Security: Benefit from robust security measures that protect sensitive financial information from unauthorized access and data breaches.
- Customizable Reporting: Generate tailored financial reports that meet specific business needs, providing clarity and insight into financial performance.
- Integration Capabilities: Connect seamlessly with other business tools and applications, streamlining workflows and enhancing productivity.
- User-Friendly Interface: Navigate the software with ease, thanks to an intuitive design that reduces the learning curve for new users.
- Remote Accessibility: Access your accounting data from anywhere with an internet connection, supporting flexible work arrangements and remote teams.
- Cash Flow Management: Monitor and manage cash flow effectively, ensuring sufficient liquidity for operational needs and growth opportunities.
- Customer Support: Receive expert assistance and guidance from a dedicated support team, ensuring smooth operation and troubleshooting when needed.
- Environmental Impact: Reduce paper usage and contribute to sustainability efforts by digitizing accounting processes and documentation.
- Decision Support: Leverage analytical tools and insights to support strategic planning and enhance business performance.
- Real-Time Integration: See precisely what is being spent with real-time data and AI audits to help the businesses. Eliminate blind spots.
- Automate Rules: Automate and apply rules fairly and consistently so that everyone’s expectations are met and fraud is easily caught.
- Accounts Payable Automation: Automate the invoice process to catch duplicate entries. Save significant time with invoice tracking and quicker payments.
- Travel Integration: Record expenses incurred on work-related trips automatically. Prepopulate business travel information so it’s easy for employees to submit accurate claims for reimbursement.
- Analytics: Improve control over funds, examine productivity and increase compliance with automated, fast and accurate reporting.
- Budget: Get a consolidated view of revenue and expenses in real time on an easy-to-use dashboard to identify gaps and make well-informed decisions.
- Drive: Capture mileage to ensure compliance, reduce fraud, cut costs and reimburse employees adequately.
- Audit: Ensure all employees are compliant and each dollar spent is certified against the company’s policy with a receipt audit service.
- Payment Solution: Automate and simplify vendor payment and reimbursement.
- Company Bill Statements: Centralize company cards and financial statements that capture total spend and maintain policy control.
- Travel: Ensure every employee is supported with travel insights, regardless of where the trip is booked.
- TripLink: Connect travelers and itineraries across multiple channels. Apply policies to direct booking to boost compliance and locate and support travelers.
- TripLink Connected Suppliers: Set up direct connections with suppliers. Integrate with Locale to ensure proper communication with the travelers.
- Invoice: Get real-time visibility into financial components, boost cash flow, ensure compliance and minimize security risks.
- Other Products: Provide end-to-end, automated data synchronization with the vendor’s suite of products granting visibility into the employee spend and ensuring effortless and accurate management of expenses.
- Free Trial: Get the free trial for a demonstration of spend management solutions, travel management. Use the sample information provided or snap a receipt from a phone or computer to see the program in action.
- Multiple Scanning Options: Upload receipts to the expense report through using various methods. Scan it in the app, uploading a picture via the web or the receipt through email.
- Invoicing: Create and send professional invoices with customizable templates, ensuring brand consistency and clarity.
- Bank Reconciliation: Automatically match transactions with bank statements, reducing manual entry and errors.
- Expense Management: Track and categorize expenses efficiently, allowing for better financial oversight and control.
- Multi-Currency Support: Handle transactions in various currencies, ideal for businesses operating internationally.
- Project Management: Monitor project budgets and timelines, integrating financial data for comprehensive project oversight.
- Reporting: Generate detailed financial reports, including balance sheets and profit & loss statements, for informed decision-making.
- VAT Management: Automate VAT calculations and submissions, ensuring compliance with local tax regulations.
- Mobile Access: Access your accounting data on-the-go with a mobile-friendly interface, enhancing flexibility and responsiveness.
- Integration Capabilities: Seamlessly connect with other business tools like CRM and e-commerce platforms to streamline operations.
- User Permissions: Set specific access levels for different users, maintaining data security and integrity.
- Customer Support: Access a dedicated support team and comprehensive online resources for troubleshooting and guidance.
- Time Tracking: Record billable hours directly within the platform, simplifying invoicing for service-based businesses.
- Inventory Management: Keep track of stock levels and manage orders, ensuring efficient supply chain operations.
- Recurring Invoices: Automate the billing process for regular clients, saving time and reducing administrative workload.
- Dashboard Overview: Gain insights into key financial metrics with a customizable dashboard, providing a snapshot of business health.
Product Ranking
#6
among all
Accounting Software
#102
among all
Accounting Software
User Sentiment Summary
10098 reviews
1 reviews
Concur has a 'great' User Satisfaction Rating of 81% when considering 10098 user reviews from 5 recognized software review sites.
e-conomic has a 'fair' User Satisfaction Rating of 60% when considering 1 user reviews from 1 recognized software review sites.
Synopsis of User Ratings and Reviews
Overall, Concur has garnered a reputation as a comprehensive and reliable solution for managing expenses, travel, and invoices. Users frequently praise its ability to streamline expense reporting, automate tasks, and provide real-time visibility into spending. The mobile app receives kudos for its user-friendly interface and offline functionality, making it easy for employees to capture receipts and submit expenses on the go. Concur's integration with travel booking platforms and credit cards is a major plus, simplifying the process of reconciling expenses and ensuring accuracy. However, some users find the initial setup and configuration to be complex, requiring significant time and effort. Additionally, the system's flexibility can be a double-edged sword, as extensive customization options may overwhelm some users. Concur's pricing structure, often based on the number of users and transactions, can be a concern for smaller businesses. Despite these drawbacks, Concur's strengths in automation, integration, and mobile accessibility make it a top choice for mid-sized to large organizations with complex expense management needs and a desire to enhance efficiency and control over spending.
Is e-conomic really economical with the truth when it comes to user experience? User reviews from the past year paint a somewhat ambivalent picture of this cloud-based accounting software. While e-conomic is generally lauded for its user-friendly interface and comprehensive suite of features, including electronic invoicing and bank reconciliation, some users find that certain aspects, such as VAT reporting, necessitate a considerable amount of accounting knowledge, potentially posing a challenge for newcomers. This is akin to having a car with all the bells and whistles but needing a mechanic's certification to change a tire. A key differentiator for e-conomic is its robust automation tools, such as automatic invoice reading and attachment matching, which streamline tedious accounting tasks. However, the software's integration setup can be a bit of a head-scratcher, often requiring technical expertise. Furthermore, while e-conomic is praised for its cloud-based efficiency and secure data access, some users find the interface clunky, especially for more complex tasks, like navigating a labyrinthine library. In essence, e-conomic appears best suited for businesses with some existing accounting infrastructure and technical know-how, much like a seasoned chef who can fully utilize a professional-grade kitchen. Smaller businesses or those lacking technical expertise might find the learning curve a tad steep.
Screenshots
Top Alternatives in Accounting Software
Accounting Seed
Acumatica
BQE Core
Dynamics 365 Finance
FreeAgent
Freshbooks
Manager
Odoo Accounting
Oracle Financials Cloud
Patriot Accounting
QuickBooks Online
Sage 50cloud Accounting
Sage Intacct
SAP Business One
SAP S/4 HANA Finance
TallyPrime
Wave Accounting
Workday Financial Management
Xero
ZarMoney
Related Categories
WE DISTILL IT INTO REAL REQUIREMENTS, COMPARISON REPORTS, PRICE GUIDES and more...
