AI TOOL PROFILE
ProSpend: Spend Management and AP Automation
- Finance and Accounting
- Expense Management
- Mid-market finance teams
- Multi-entity businesses
- ANZ-based organizations
- Companies using Australian ERP systems
Pricing
Pricing was not clearly available from the provided evidence. Buyers should confirm current pricing on the vendor website.
At a glance
- Best for
- Mid-market finance teams, Multi-entity businesses, ANZ-based organizations, Companies using Australian ERP systems
- Key use cases
- Automating Accounts Payable, Managing Multi-Entity Spend, Controlling Employee Spending, Travel Reconciliation, Supporting Audit Readiness
- Integrations
- Xero, MYOB AccountRight, MYOB Advanced, MYOB EXO, NetSuite
- Official website
- Visit prospend official website
How AI is used
ProSpend is a unified spend management platform designed for finance teams in Australia and New Zealand. It combines several financial functions—including expense claims, accounts payable, virtual cards, and travel management—into a single system to reduce reliance on spreadsheets.
The tool is built for mid-market companies that handle spending across multiple entities or departments. It supports the automation of manual tasks like invoice data entry and receipt matching using OCR and AI-powered extraction.
Finance leads can use the platform to set spend limits via virtual cards, track budgets in real time, and manage purchase orders before spending occurs. The system also includes features for FBT and GST compliance tailored to local requirements.
Buyers should confirm if their specific ERP is among the supported integrations and whether the multi-entity database structure aligns with their current corporate hierarchy.
Key Features
AP Automation
Uses OCR and AI-powered extraction to process invoices and supports matching them with purchase orders.
Expense Management
Supports automatic expense claims with smart coding and receipt matching.
Virtual Cards
Allows for the issuance of cards with configurable spend limits and category rules.
Fraud Control
Uses machine learning to check for duplicate invoices and verify supplier bank accounts and ABNs.
Budget Manager
Provides budget tracking and flags within claims and invoices to help monitor spending in real time.
Multi-Entity Support
Supports the management of multiple business entities, projects, and cost centres within a single database.
FBT Compliance
Includes a wizard designed to help track, calculate, and report on Fringe Benefits Tax.
Use Cases
Automating Accounts Payable
Using OCR and AI to move invoices from the inbox to the ERP while verifying supplier details.
Managing Multi-Entity Spend
Consolidating visibility and approval workflows across various business units or ABNs in one place.
Controlling Employee Spending
Issuing virtual cards with pre-set limits to help prevent budget blowouts.
Travel Reconciliation
Using daily trip feeds and digital receipts to match and code travel-related expenses.
Supporting Audit Readiness
Maintaining audit trails for every transaction to support compliance verification.
Integrations
- Xero
- MYOB AccountRight
- MYOB Advanced
- MYOB EXO
- NetSuite
- TechnologyOne
- Microsoft Dynamics 365
- Microsoft Business Central
- Sage Intacct
- SAP Business One
- QuickBooks Online
- Peppol network
FAQ
What is ProSpend?
- ProSpend is an Australian-built spend management platform that integrates expense management, accounts payable automation, virtual cards, and budget tracking into one system.
Which ERP systems does ProSpend integrate with?
- ProSpend integrates with over 18 leading ANZ ERPs, including Xero, MYOB, NetSuite, TechnologyOne, and Microsoft Dynamics.
Can ProSpend handle multiple business entities?
- Yes, it is designed to manage multi-entity businesses within a single database, allowing for consolidated views across different companies or projects.
How does ProSpend help prevent payment fraud?
- The platform uses machine learning to perform supplier ABN checks, bank account validation, and duplicate invoice detection before payments are released.
Source category: Finance & Accounting
Source subcategory: Expense Management
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