Payhawk Reviews & Pricing

by Payhawk | Founded 2018, London, United Kingdom

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What is Payhawk?

Industry Specialties: Serves all industries.

Payhawk offers a comprehensive software solution for spend management, designed to streamline financial operations for businesses. It is particularly well-suited for mid-sized to large enterprises across various industries, including technology, retail, and professional services, due to its robust capabilities in managing expenses, invoices, and company cards. Users benefit from its seamless integration with existing accounting systems, real-time expense tracking, and automated workflows that reduce manual data entry. Unique features include customizable approval processes, detailed analytics, and multi-currency support, which enhance financial oversight and control. Compared to similar products, Payhawk is praised for its user-friendly interface and efficient customer support. Pricing details are not publicly disclosed, so potential users are encouraged to contact SelectHub for a personalized quote. Overall, Payhawk stands out for its ability to simplify complex financial tasks, making it a valuable tool for businesses aiming to optimize their spend management processes.

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User Sentiment

Based on 8 reviews:

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Payhawk Pricing

Based on our most recent analysis, Payhawk pricing starts at $189 (Monthly).

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Starting From: $189
Pricing Model: Monthly
Free Trial: No

Training Resources

Payhawk is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for Payhawk:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

Payhawk Benefits and Insights

Why use Payhawk?

Key differentiators & advantages of Payhawk

Streamlined Expense Tracking: Payhawk simplifies the process of tracking expenses by automatically categorizing and recording transactions, reducing the time spent on manual data entry.
Real-Time Financial Insights: Gain immediate access to up-to-date financial data, enabling informed decision-making and proactive budget management.
Enhanced Compliance: Ensure adherence to company policies and regulatory requirements with built-in compliance checks and audit trails.
Improved Cash Flow Management: Monitor and manage cash flow more effectively with detailed reports and analytics, helping to identify spending patterns and optimize resource allocation.
Seamless Integration: Easily integrate with existing accounting and ERP systems, ensuring a smooth flow of financial data across platforms without the need for duplicate entries.
Increased Employee Productivity: Automate routine financial tasks, allowing employees to focus on more strategic activities and reducing the administrative burden.
Customizable Approval Workflows: Tailor approval processes to fit organizational needs, ensuring that spending is controlled and authorized appropriately.
Enhanced Security: Protect sensitive financial information with advanced security measures, including encryption and multi-factor authentication.
Global Reach: Support for multiple currencies and languages facilitates international operations and simplifies financial management across borders.
Cost Savings: Identify opportunities for cost reduction through detailed spending analysis and vendor management features, leading to more efficient use of resources.
Scalability: Adapt to the changing needs of your business with a scalable platform that grows alongside your organization, accommodating increased transaction volumes and complexity.
User-Friendly Interface: Intuitive design ensures ease of use for all employees, minimizing the learning curve and encouraging widespread adoption.
Comprehensive Reporting: Generate detailed reports that provide insights into spending trends, helping to drive strategic financial planning and performance evaluation.
Centralized Spend Management: Consolidate all spend-related activities in one platform, providing a single source of truth for financial data and reducing the risk of errors.
Vendor Management: Optimize vendor relationships and negotiate better terms by leveraging detailed spend data and insights.

Industry Expertise

Payhawk is particularly well-suited for mid-sized and large businesses, especially those with international operations, who need to streamline their spend management processes and gain greater control over company expenses. The platform's robust features and customization options cater to finance professionals seeking efficiency, compliance, and transparency in managing corporate spending.

Payhawk Reviews

Based on our most recent analysis, Payhawk reviews indicate a 'excellent' User Satisfaction Rating of 96% based on 8 user reviews from 2 recognized software review sites.

8 reviews

96%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of Payhawk reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Easy to Use: User reviews frequently praise Payhawk's user-friendly interface, noting its intuitive design and ease of navigation for managing expenses.
Streamlined Expense Reporting: Users highlight Payhawk's automation features, particularly in expense reporting, which simplifies the process and reduces manual effort.
Real-Time Spending Insights: The platform's ability to provide real-time tracking of company card transactions and overall spending is well-received, enabling better visibility and control over finances.
Seamless Accounting Integration: Payhawk's integration with popular accounting software like Xero is commended for its efficiency in synchronizing financial data, saving time and reducing errors.
Excellent Customer Support: Users consistently applaud Payhawk's customer support for its responsiveness, helpfulness, and proactive approach in resolving issues.

Cons

Limited Card Options in the US: Payhawk currently only offers credit cards to its US customers, which might not be ideal for businesses that prefer using debit cards for their transactions.
Receipt Management Hiccups: Some users have reported occasional difficulties with uploading receipts and experiencing delays in account reconciliation, which can hinder smooth expense tracking.
Occasional Software Glitches: While generally praised for its functionality, Payhawk has encountered instances where updates introduced glitches, impacting settings and invoice processing, causing temporary disruptions to financial workflows.
Inaccurate Per Diem Calculations: There have been reports of the software inaccurately calculating per diem rates based on specific locations, potentially leading to discrepancies in expense reimbursements.
Feature Requests: User reviews highlight a desire for additional features, such as the ability to block cards by specific spending categories and a streamlined process for bulk expense reimbursements, indicating potential areas for improvement in future updates.

Researcher's Summary:

Is Payhawk the real deal or are users ready to hawk it? Payhawk is generally well-received by users for its user-friendly interface and robust features, particularly its seamless integration with accounting systems like Xero, which simplifies expense reconciliation and financial record-keeping. Users highlight the convenience of issuing virtual and physical cards, automating reimbursements, and gaining real-time visibility into company spending. The platform's intuitive design and responsive customer support contribute to a positive user experience, making it easy for employees to adopt and utilize effectively.

However, some users point out limitations, such as occasional technical glitches after updates and challenges with receipt management. For instance, one user mentioned difficulties encountered with the TravelPerk integration, although they acknowledged working with their account manager to resolve the issue. While Payhawk excels in many areas, addressing these concerns would further enhance its functionality and user satisfaction.

Overall, Payhawk is well-suited for businesses, particularly small to medium-sized enterprises, seeking a comprehensive and user-friendly spend management solution. Its strengths lie in its intuitive design, seamless integrations, and robust features that streamline expense management processes. However, potential users should be aware of the occasional technical hiccups and areas for improvement, such as receipt management. By addressing these limitations, Payhawk can solidify its position as a leading player in the spend management market.

Key Features

Notable Payhawk features include:

Automated Expense Management: Streamlines the process of capturing, approving, and reconciling expenses with minimal manual intervention.
Corporate Card Integration: Offers seamless integration with corporate cards, allowing real-time tracking and management of transactions.
Multi-Currency Support: Facilitates transactions in multiple currencies, making it ideal for businesses operating across different countries.
Custom Approval Workflows: Enables businesses to set up tailored approval processes that align with their internal policies and hierarchies.
Real-Time Reporting: Provides instant access to detailed financial reports, helping businesses make informed decisions quickly.
Receipt Capture via Mobile App: Allows users to capture and upload receipts directly from their smartphones, reducing paperwork and manual entry.
Seamless ERP Integration: Connects effortlessly with popular ERP systems like SAP and Oracle, ensuring data consistency across platforms.
Advanced Security Features: Includes robust security measures such as two-factor authentication and data encryption to protect sensitive financial information.
Customizable Spend Policies: Lets companies define and enforce spending limits and rules tailored to their specific needs.
VAT Reclaim Automation: Simplifies the process of reclaiming VAT on eligible expenses, enhancing compliance and efficiency.
AI-Powered Anomaly Detection: Utilizes artificial intelligence to identify and flag unusual spending patterns for further review.
Budgeting and Forecasting Tools: Offers tools to help businesses plan and manage their budgets more effectively, with predictive analytics.
Global Vendor Payments: Supports payments to vendors worldwide, streamlining international transactions and reducing currency conversion hassles.
Employee Reimbursement Management: Simplifies the reimbursement process for out-of-pocket expenses, ensuring timely and accurate payments to employees.
Comprehensive Audit Trails: Maintains detailed records of all transactions and changes, facilitating audits and compliance checks.
Customizable Dashboards: Provides users with the ability to create personalized dashboards that highlight key metrics and insights relevant to their roles.
Integration with Accounting Software: Syncs with popular accounting platforms like QuickBooks and Xero, ensuring seamless financial data flow.
Flexible User Permissions: Allows administrators to assign specific roles and permissions to users, ensuring appropriate access levels.
24/7 Customer Support: Offers round-the-clock assistance to address any issues or queries, ensuring uninterrupted service.
Scalable Platform: Designed to grow with businesses, accommodating increasing transaction volumes and expanding user bases.