Teampay
What Is Teampay?
Teampay’s all-in-one spend management features built-in controls that enforce your policy upfront and enable you to manage all company spend in one place. While finance teams maintain total control, Read more managers and employees get real-time visibility into actual spend, empowering them to make quick, compliant purchases. Teampay makes it easy for everyone in the company to buy what they need while giving the finance team peace of mind with automated purchasing workflows and reconciliation. Read lessWho Uses Teampay?
Companies using technology to streamline processes, empower their employees and automate purchasing–without sacrificing control. Teampay takes the friction out of finance.
Not sure about Teampay?
Compare with a popular alternative
Teampay
Other great alternatives to Teampay
Reviews of Teampay
Andrew
Let Management Make Their Own Decisions
Comments: Teampay is always there to help or answer any questions in a timely manner, which is important in the world of finance.
Pros:
I love that it gives power to the people! The employees don't need to ask accounting for every single payment request, but also do not have a physical credit card that is difficult to track and report every month. This has eased up the lift in the accounting department as expense reports have fewer charges and AP is also lighter. There are still controls in place to ensure that these decisions are being approved, but these are decisions that should be approved within those departments anyway.
Cons:
My company definitely pushed the limits of the software, in terms of transaction counts and approval groups. Managing approval groups is a bit clunky, but it's not a huge problem.
Amanda
Alternatives Considered:
Best Spend Management Tool
Comments: Overall it is great. It is easy to use and the control we have is great. We aren't micromanaging but we do have the control we were lacking prior to.
Pros:
Teampay is super easy to use and has cut our monthly spend by more than 50%. Expense reports are turned in on time, its easy to upload receipts. It directly integrates with our ERP. The cash back on all purchases is amazing. Implementation was easy and the spend management control is beyond anything I have seen.
Cons:
I wish the expenses wouldn't transfer over to our ERP unless the backup has been uploaded.
Teampay Response
2 months ago
Hi Amanda, thank you for the kind words! We are so glad that you're finding Teampay to be super easy to use and that we've been able to help you reduce your monthly spend! We appreciate your support as we continue to grow.
Jack
Adequate for a time
Pros:
TeamPay is an intuitive software that is quick to get up and running. I'm able to approve and modify purchase orders coming through in moments through the Slack integration. It's simple.
Cons:
Although it's quick to get up and running, TeamPay is not a long-term solution. Reporting and PO management is unstructured, creating extra work for AP teams. As an example, because nearly all of the system is open text, employees will make multiple vendors, POs that AP has to manually reconcile (ex: TeamPay, Team-Pay, TeamPay.com would all be different vendors).
Teampay Response
2 months ago
Hi Jack, thank you for sharing your feedback. Our product team is actively working to optimize much of the functionality you described in your review and would love to speak with you to learn more about your experience and use cases. If this is of interest, please reach out to [email protected] Thanks again for your feedback; we couldn't grow without it!
Brian
Alternatives Considered:
Great Visibility to Spend
Pros:
I love that I get to see all of our credit card spend in real-time through slack notifications. It gives me great visibility into who is spending what and when.
Cons:
I wish the expense reimbursement module was completely. This is a huge gap in my current processes that I would like to use Teampay to solve. Also, things that need to be paid with a physical card (ex. hotels, taxis, dinner) is somewhat difficult through Teampay.
Teampay Response
2 months ago
Hi Brian, thank you for taking the time to share your experience. We're so glad to hear you're enjoying our Slack integration and have greater visibility into spend with Teampay. Regarding reimbursements, we recently announced direct reimbursement syncing with NetSuite, Sage Intacct, and QBO. Your Customer Success Manager would love to help you get that set up if you haven't already. They can also help you work through physical card transactions. Thank you again for your feedback!
Timothy
Alternatives Considered:
Perfect for the Small Business
Comments: So far positive, as long as you build proper controls around it.
Pros:
It's very easy to use and it's also integrated with Slack (no extra PW/Login needed). It's features are good enough to accomplish credit card controls, but not so robust that you have to build on top of it.
Cons:
There were certain features that were missing (shutting off recurring subscriptions) and not having the ability to notify when renewals are up.
