One of the best practices in which any startup can engage is analyzing competitors. Especially to understand where they stand and how they can be better. We’re proud of doing that today while facing Expensify versus Recurring.
This comparative analysis of Recurring over Expensify is designed to help you decide where to invest your time and efforts to help your companies. And also lead successful personal projects that have better control of finances with fewer time constraints. Get a better grip of budgets. Do expense tracking, and solve many other SaaS needs out of a single web location. Then, we’ll go straight into the juice of how to best work around this.
What is Recurring?
Recurring is an expense tracking platform that can be used online from any browser. What the tool essentially does is optimize a company or individual’s financials. In the process, users can come up with significant savings.
Tracking duplicate accounts and removing orphaned ones are just one of the platform's benefits. Yet, we're thus taking care of legal and financial obligations in the blink of an eye. But, how did we get to it?
Where does Recurring come from?
Known as a one-stop-shop to manage it all, Recurring’s strength lies in many areas. For example, we’re currently a successful startup company that’s solving common expense tracking deficiencies.
Like many, Recurring's founders have had to deal with a startup's natural growth process. Over 7+ successful years of their second founding company, the founding team has been a part of the Valley's 500 Startups, Dream It's a program, and StartUp Chile. That's why we've written extensively about our experience with accelerators.
Experience helps us boost internal and external processes this way and help others with the tools we have the perfect design and execution teams to develop. Recurring is an innovative response to old market needs. Isn't that precisely what a successful company should do?
Recurring is set to improve entrepreneur efforts of many kinds from people who provenly know about SaaS platforms and private businesses. In addition, speed up accounting and internal processes of any starting or established business with it.
How can Recurring improve my business or projects?
Recurring immediately creates a dedicated email address for its users upon signup, for example. That means that, after quickly and easily verify the email address with which you are subscribing, it'll immediately assign and send a customized email address. Those look something like “firstname.lastname@example.org” Isn’t that beautiful? More storage for a significant part of your business or plans.
With just the above steps, which are two initial seconds of their experience, users, their teams, or providers can easily send and track invoices via email and online. Just pass the address on and get people to forward their invoices to it. Let Recurring automate your work and open up time to spend it better where you need it or want it most.
Forget about paper trails, manual accounting, and staying on top of all of a company's physical invoices. Instead, forward email receipts to a personal or company address and let Artificial Intelligence (AI) do the rest!
Our CEO drafted step-by-step instructions for the most popular email clients, so you can know how to use your email auto-forwarding features.
Now, let’s take a look at some of Expensify’s list of features before we circle back to a final comparison.
Details on Expensify
Topped with bank-level security, Expensify is proud of keeping user data under protection. The encryption they offer is part of the same security standards under which a company like Visa works. Yet, Expensify also lets McAfee perform daily tests to keep its platform free from hacking successes.
Import transactions from your bank, including those on your credit card. And organize those expenses by category. Add tags and comment on those expenses to fortify your reports, too.
But forget about setting goals or using top-notch budgeting features on Expensify. At least for now, suitable? Those aren’t available at the time of publishing.
You can use a few analytics to get alerts, however. And then create charts and graphs for a different look at your spending habits.
Another nice feature this app offers is a receipt import ability. They can pull the data straight from apps like Evernote. The platform can also “capture any web page as a receipt.”
Let’s compare pricing, shall we?
Pricing on Recurring is just so unique, and we don’t think any of these expense tracking apps are working nearly the same way right now. So, let’s start with the more common pricing scheme on which Expensify bases its business.
In general, Expensify is free to use up to 25 SmartScans in a single month. After that, the most affordable plan kicks off at $4.99 / mo. Of course, other milestone kinds of pricing plans go hand in hand with those. Individuals shouldn’t worry about scanning, though. Single or personal accounts can scan receipts without any sort of a cap here. Yep! That’s total receipts for single parties.
Recurring, on the other hand, works on a unique and adjustable pricing model. Your fee-only scales as your subscribed company does. So, kick off with a free $1,000 worth of tracking. We figured that sum would get you to an excellent start.
From there, it’s the average of a company or user’s last three months of expenses that’ll determine its final pricing is moving further. Doesn’t that sound fair? It's the kind of innovation only an experienced startup can bring to anyone’s business table. Pretty neat, right?
Get the onboarding experience you deserve
Whatever you decide, we hope you get access to the expense tracking app that's ideal for you.
Remember that, regardless of the app you end up choosing, part of the benefits of all-expense tracking tools is leaving somebody else in charge of your expense-related obligations, storage, and agility.
More than delegating, it’s letting a platform work for you, even while you’re sleeping. With Artificial Intelligence, it’s easy to have innovative technology in the hands of an experienced (and profitable) business, be the one in charge of hosting your startup’s or personal invoice and spending-related items. So make the best of this feature, if you can.
It can be a great benefit to simply send your email address off for expense forwarding to our companies’ external parties and internal members. That way, we cut a lot of time we could otherwise be spending in so many other ways, significantly while our businesses are growing.
Get to thriving with as much help as you can from excellent design and affordable and easy-to-use tools. We wish you the best of luck with that.
Also, if you’re up for a live onboarding session of our tool, just book your time with us. We’ll be more than glad to guide you as much as we possibly can.