Brex vs. Concur: Which Spend Management Tool to Use?

Here’s my honest Brex vs. Concur comparison guide. If you’re managing business expenses, you’ve probably heard of these two tools. They help facilitate every aspect of your digital banking.

Brex stands out for its ease of use and cost-effectiveness, ideal for startups needing quick access to credit and basic expense tracking. However, it lacks advanced travel management and global reach.

Concur fills this gap with robust travel tools, global compliance, and scalability, making it better suited for larger, complex organizations with international needs.

Both have their strengths, but they serve different needs depending on your company’s size and specific requirements. So what’s the main difference?

The main difference is that Brex is designed for startups and small businesses, offering easy credit access and basic expense management, while Concur is tailored for medium to large enterprises, providing comprehensive travel and expense management with advanced compliance and reporting features suitable for complex, global operations.

Brex vs Concur: Key Feature Comparison

To help you make the right decisions, here’s an overview of the key features of Brex and Concur:

Personal note:

I switched to Concur, even though Brex was fantastic for my startup’s early days, especially with its no personal guarantee and real-time expense tracking. As our business grew and expanded internationally, we needed a more comprehensive solution that could handle complex travel management and compliance across multiple regions. Concur’s global reach and robust reporting features made it the clear choice for scaling our operations smoothly. Sometimes, growth requires a tool that can grow with you.

What is Brex and How Does It Work?

Brex is a financial technology company that provides credit cards and cash management accounts tailored for startups and growing businesses. It simplifies expense management by offering a user-friendly interface that integrates seamlessly with accounting software like QuickBooks and Xero. Brex’s core offering is its corporate credit card, which requires no personal guarantee and offers rewards tailored to business spending.

Pros of Brex:

• No personal guarantee is required for credit cards
• High credit limits based on business cash flow
• Integrated expense management
• Tailored rewards for business expenses
• Easy integration with accounting tools

Cons of Brex:

• Limited global reach
• Not ideal for larger enterprises
• Fewer travel management features

What is Concur and How Does It Work?

Concur is an expense, travel, and invoice management software designed for medium to large enterprises. It helps businesses automate and streamline the entire travel and expense management process. Concur integrates with various travel booking platforms and offers comprehensive reporting and compliance features, making it a robust solution for companies with complex expense management needs.

Pros of Concur:

• Comprehensive travel and expense management
• Global support and scalability
• Detailed reporting and compliance features
• Integrates with various travel booking platforms
• Supports complex organizational structures
• Customizable workflows and approval processes

Cons of Concur:

• Steeper learning curve
• Higher cost for small businesses
• Can be overkill for startups

Brex vs Concur: A Detailed Comparison of Brex vs. Concur

When comparing Brex and Concur, it’s essential to consider your business size and specific needs. Here’s a detailed comparison of the key features:

1. Ease of Use

Brex is known for its user-friendly interface that simplifies expense management. The setup process is quick, with an intuitive dashboard that requires minimal training. Its streamlined design caters well to startups and small businesses, providing easy access to credit and expense tracking without complex procedures.

Concur, while powerful, has a steeper learning curve due to its extensive feature set. Its interface can be overwhelming for new users, especially those unfamiliar with its detailed reporting and compliance tools. The system requires more training and adjustment, which can be a hurdle for smaller businesses or less tech-savvy teams.

Verdict: Brex wins in ease of use, thanks to its straightforward interface and quick setup, making it ideal for smaller businesses that need simplicity and speed.

2. Integration with Accounting Tools

Brex integrates seamlessly with popular accounting platforms like QuickBooks and Xero. This integration automates expense categorization and reconciliation, reducing manual entry and errors. The integration process is smooth, making it easy for small businesses to connect their financial tools with Brex’s expense management system.

Concur offers extensive integration capabilities with major ERP systems, accounting software, and HR platforms. This flexibility supports complex workflows and large-scale operations, providing a cohesive view of expenses across various systems. However, setting up these integrations can be more complex and may require additional customization.

Concur wins for its extensive integration options, which cater well to large enterprises with complex needs, though it may involve more setup.

3. Travel Management

Brex does not offer comprehensive travel management features. Its focus is primarily on expense tracking and credit management, lacking integrated tools for booking and managing travel arrangements. This limitation makes it less suitable for businesses with significant travel needs.

Concur excels in travel management, offering integrated booking options for flights, hotels, and car rentals. It supports global travel, including multi-currency transactions and compliance with various travel policies. Concur’s travel management features are extensive, making it ideal for businesses with complex or international travel needs.

Verdict: Concur is the clear winner in travel management, providing a comprehensive suite of tools for booking and managing travel efficiently.

4. Reporting and Analytics

Brex offers basic reporting features, focusing on expense tracking and categorization. While it provides real-time visibility into spending, its reporting capabilities are limited compared to more advanced systems. Businesses can access essential data but may need more detailed insights for in-depth analysis.

Concur provides advanced reporting and analytics tools, offering detailed insights into spending patterns, compliance, and budgeting. Its customizable reports help businesses track expenses across various departments and regions, making it ideal for companies needing comprehensive data for strategic decision-making.

Verdict: Concur wins in reporting and analytics, offering deeper insights and more detailed reporting capabilities that benefit larger organizations with complex needs.

5. Global Reach

Brex primarily serves U.S.-based businesses, with limited support for international operations. It lacks multi-currency support and global compliance features, making it less suitable for companies with international teams or those planning to expand globally.

Concur is designed for global businesses, offering multi-currency support, international compliance, and localization features. Its global reach allows companies to manage expenses and travel seamlessly across different regions, making it a robust choice for multinational organizations.

Verdict: Concur wins for global reach, providing the necessary tools for managing international operations effectively.

6. Customization and Scalability

Brex offers limited customization options, focusing on core features like expense tracking and credit management. While it is scalable to an extent, it may not meet the needs of rapidly growing or complex organizations requiring extensive customization or advanced features.

Concur provides extensive customization options and scalability, allowing businesses to tailor the system to their specific needs. Its modular approach supports a wide range of features, from basic expense management to complex travel and invoicing processes, making it suitable for organizations of all sizes.

Verdict: Concur is the winner in customization and scalability, offering flexible options that can adapt to growing and diverse business needs.

7. Cost-Effectiveness

Brex has a cost-effective pricing model with no annual fees for the corporate card and straightforward costs associated with its services. This makes it an attractive option for startups and small businesses operating on tight budgets, providing essential features at a lower cost.

Concur’s pricing is more complex and can be higher, reflecting its extensive feature set and scalability. The cost can vary based on the size of the organization and the features required. While it offers comprehensive tools, the higher cost might be a consideration for smaller businesses or those with simpler needs.

Verdict: Brex wins in cost-effectiveness, offering a more affordable solution for smaller businesses while still providing essential features.

Brex Use Cases

Airbnb: Simplified Expense Management for Growing Startups

As a rapidly growing startup, Airbnb needed a financial solution that could scale with its operations. Brex provided Airbnb with a corporate credit card that didn’t require a personal guarantee, easing the financial burden on founders.

The integration with accounting software like QuickBooks allowed Airbnb to automate expense tracking, making it easier to manage their financials as they scaled. Brex’s tailored rewards, such as points on travel and software purchases, aligned perfectly with Airbnb’s business needs.

This allowed them to reinvest rewards back into their operations, supporting growth without adding complexity to their financial management processes.

DoorDash: Real-Time Expense Tracking for On-the-Go Operations

DoorDash, a leading food delivery service, operates in a fast-paced environment where managing expenses efficiently is crucial. Brex’s real-time expense tracking and categorization helped DoorDash keep a close eye on operational costs, from marketing campaigns to delivery logistics.

With high credit limits based on business cash flow, DoorDash could scale its spending as it expanded into new markets.

The seamless integration with financial tools allowed DoorDash’s finance team to quickly reconcile expenses, ensuring that their rapid growth didn’t lead to financial mismanagement. Brex’s platform provided the flexibility DoorDash needed to stay agile and responsive to market demands.

Concur Use Cases

Siemens: Global Expense and Travel Management

Siemens, a multinational conglomerate, required a robust solution to manage its global travel and expense processes across various business units. Concur provided Siemens with a unified platform that integrated travel bookings, expense tracking, and compliance management.

Concur’s global reach, including multi-currency support and language localization, allowed Siemens to standardize its expense management processes across different regions.

The detailed reporting and compliance features ensured that Siemens met regulatory requirements in each country, reducing the risk of financial penalties. Concur’s scalability made it the ideal choice for Siemens, allowing the company to manage thousands of employees’ expenses efficiently on a global scale.

Pfizer: Ensuring Compliance in a Highly Regulated Industry

Pfizer, one of the world’s largest pharmaceutical companies, operates in a heavily regulated industry where compliance is critical. Concur’s expense management solution allowed Pfizer to enforce strict compliance with industry regulations, such as tracking spending related to healthcare professionals.

Concur’s customizable workflows ensured that all expenses were approved according to Pfizer’s internal policies, minimizing the risk of regulatory violations.

The integration with Pfizer’s existing ERP systems provided a seamless flow of financial data, making it easier to generate accurate reports and audits. By using Concur, Pfizer was able to maintain its high standards of compliance while efficiently managing its global expense operations.

Pricing Breakdown: Brex vs. Concur

Brex operates on a simple pricing model with no annual fees for its corporate cards. Concur, on the other hand, has a tiered pricing model based on the size of your business.

Here’s a table summarizing the pricing for both Brex and Concur:

This table reflects the general pricing models for Brex and Concur, but specific costs may vary based on your business needs and scale. Concur’s pricing is more variable, often requiring quotes based on the size and complexity of your organization, while Brex offers a more straightforward, fee-free structure.

What to Consider When Choosing Between Brex and Concur

Let’s go through the important factors to keep in mind when choosing software for managing business expenses:

1. Business Size and Complexity

Your business’s size and operational complexity play a crucial role in choosing between Brex and Concur. Brex is designed for startups and small businesses needing a simple, user-friendly solution without personal guarantees. It suits companies with straightforward expense management needs.

Concur, however, caters to medium to large enterprises with more complex structures, offering customizable workflows, detailed reporting, and robust compliance features.

If your business spans multiple departments or regions, Concur’s advanced capabilities make it the better choice. Evaluate whether your company needs a simple solution like Brex or a scalable, comprehensive tool like Concur.

2. Expense and Travel Management Needs

Your specific expense and travel management requirements should guide your decision. Brex excels in basic expense management with real-time tracking and business-specific rewards but lacks advanced travel features.

Concur is the go-to for businesses needing integrated travel management, offering seamless booking through various platforms, alongside detailed expense tracking and compliance enforcement.

If your company has frequent travelers or requires strict adherence to travel policies, Concur’s robust suite of tools will better meet your needs. For simpler needs without complex travel demands, Brex’s straightforward approach might be sufficient.

3. Integration with Existing Systems

The ability to integrate with your existing financial systems is essential. Brex integrates smoothly with popular accounting tools like QuickBooks, making it ideal for small businesses needing basic expense tracking and reconciliation.

However, it has limitations with complex ERP systems. Concur offers extensive integration options, working well with major ERP systems, HR platforms, and travel booking tools. If your business requires seamless connectivity across multiple systems and departments, Concur’s comprehensive integration capabilities make it a stronger candidate, particularly for larger organizations with diverse needs.

4. Global Reach and Scalability

If your business operates internationally or plans to scale, global reach and scalability are key considerations. Brex primarily serves U.S.-based businesses, with limited international support.

Concur, however, is built for global enterprises, offering multi-currency expense tracking, global compliance features, and language localization.

Concur’s ability to scale with your business ensures it can handle increased complexity as your company grows, making it a more suitable choice for organizations with global operations or expansion plans. Brex may suffice for domestic needs, but Concur’s global capabilities offer long-term scalability.

5. Cost and Budget Considerations

Cost is a critical factor when selecting between Brex and Concur. Brex offers a clear, low-cost pricing model with no annual fees, making it appealing for startups and small businesses.

It’s cost-effective, especially for companies with straightforward needs. Concur, in contrast, uses a tiered pricing structure based on business size and required features, which can become expensive.

However, this cost reflects its advanced features and scalability. Evaluate whether your business will fully benefit from Concur’s extensive capabilities to justify the higher investment, or if Brex’s simpler, more affordable approach aligns better with your budget.

FAQs

1. Which tool is easier to use?

Brex is easier to use, especially for startups and small businesses, with its intuitive interface and quick setup. Concur, while powerful, has a steeper learning curve due to its extensive features.

2. Can Brex or Concur handle global operations?

Concur is better suited for global operations, offering multi-currency support and international compliance features. Brex, on the other hand, primarily focuses on U.S.-based businesses, with limited global capabilities.

3. Which tool offers better travel management?

Concur excels in travel management, providing integrated booking, expense tracking, and compliance tools. Brex does not offer comprehensive travel management features, focusing instead on expense tracking and credit management.

4. How do they integrate with other systems?

Brex integrates smoothly with popular accounting tools like QuickBooks and Xero, while Concur offers more extensive integration options, including major ERP systems and HR platforms, catering to complex business needs.

5. Which tool is more cost-effective?

Brex is generally more cost-effective, with no annual fees and a straightforward pricing model, making it ideal for small businesses. Concur, though more expensive, offers advanced features suitable for larger enterprises.

Is Brex Better Than Concur? Takeaway

Brex is best suited for startups and small businesses that need easy expense management with no personal guarantees. Concur, however, is the go-to for larger enterprises that need comprehensive travel and expense management.

If your company is growing rapidly or requires global support, Concur’s robust features may justify the higher cost. But for straightforward, cost-effective expense management, Brex is a strong choice.