128-bit SSL encryption (the same banks use) as well as TRUSTe and VeriSign security. Does that tell you something about high-level protection? We’re pairing Mint versus Expensify the best way we know-how, and we hope you can take something for your personal or business practices from it. Let us know how it goes!
In comparing Mint with Expensify, we first need to clarify what they are.
What expense tracking apps are
The idea for us is to give you a bit more insight into how different expense trackers work. And those are tools that help individuals as much as companies stay on top of their miscellaneous expenses, so, ideally, they can better stick to budgets and run successful projects.
Taking good care of our data: a security comparison
When we spoke of encryption and security above, we were highlighting some of Mint’s features. Yet, it’s vital to contemplate how that tool is also a read-only app. What that means is that there is no chance to move funds around in it.
Expensify is equally protected as Mint’s high-banking level has been expressed. Yet, every action is also encrypted the minute you log in to Expensify. What’s more, the tool works with McAfee measures, which get performed on it daily, which can mean keeping its users safer from potential hacking threats.
In this sense, it’s also remarkable how Mint can be switched off remotely.
Tool access: Apple vs. Android users
If accessing either platform from an Android vs. iOS device were a concern, rest assured both apps are available for Android as much as Apple products. There’s also a web-based version for both. It might just be that not all features are available in all versions, so you might find that you need a computer login to finalize details on a Mint record, for instance.
Despite that, there are more than 7 million users on Mint already. Yet, the app is oriented more towards freelancers and small business owners than Expensify is. People following the latter comprise a bit more of midsize to large companies as a whole.
What if I need help?
Now, if you were ever to need anything, however, you’d want to be on Expensify; instead, it seems. And that’s because that’s the only app out of the two that offers any kind of customer support. Expensify’s contact service includes phone availability as much as online care. Yet, they’ve also got video tutorials to help users and their entire knowledge base.
Unfortunately, Mint still doesn’t offer any of that.
But what does Expensify do?
So far, we’ve heard enough to move on to a closer look at what Expensify does, wouldn’t you say? And it’s fair to say this is a well-rounded expense tracking app that lets its audiences categorize and code receipts to send expenses for reimbursement automatically.
Corporate card reconciliation is part of what the app can do, too, and deal with multi-level approval that can work like clockwork if desired.
Use other accounting software with this one. That should make your financing tasks more manageable and spare considerable time trying to make sense of bills and expenses.
Compared to its read-only counterpart, the plus side to this tool is that the tool can process reimbursements, even on the day following the request and via direct deposit.
With mileage and GPS tracking, and multi-currency support, the app works with integrations that can positively influence an accounting team’s collective game.
How does Mint compare to that?
Thinking about Mint as a counterpart to Expensify, it should be noted that Mint’s dashboard is pretty easy to navigate, which certainly helps any sort of monitoring we might need.
Mint is furthermore owned by Intuit, which means the tool is somewhat within the family of akin products such as QuickBooks and TurboTax.
Several users can share a Mint account for budgeting and forecasting, too, or they can log in when desired to do whatever it is you might need to accomplish in it as a team.
Unfortunately, the ability to see your data by multiple currencies is still a wish. But the tool’s helpful for people to identify their purchase or company expense trends and address them head-on. Also, factor in an abundance of ads within the tool, and you’ve got a solid consideration here, depending on what you like.
Speaking of the user experience side of things, try to be patient with Mint as there are reported cases of the tool failing to update data or taking too long to do so.
And now that we touch upon reports, it wouldn’t be fair to leave out just how Mint can get people 24/7 access to their scores and even be notified about significant changes to it.
Should we discuss pricing?
Money is the main topic here when we’re discussing how to track expenses. So, let’s go over how much it’d cost to sign up for either Mint or Expensify. The shorter named app goes for free on all accounts. In their words, the app “makes money from carefully selected partner offers that could help take your money further.”
Expensify, on the other hand, caps their free trial at six weeks for teams and companies. After that, individuals work on a different pricing plan and can use the app for free up to 25 SmartScans/month maximum.
As a side note, Expensify even offers a concierge travel agent as part of one of their corporate pricing plans.
Final recommendations for Mint vs. Expensify
As usual, what app works best for you, a company, or different teams will always depend on the needs and priorities of every group or individual. However, if all you need is to track your spending, it’s pretty safe to say you’d be great with either. However, to do more than just track expenses and get into streamlining processes, such as those that have to do with invoicing, then Expensify might be a more complete and effective tool for some.
Do you know which app we consider best, however?
It’s impossible for us not to look at Recurring and recommend it as the one-stop-shop it truly is. We just have tons of experience as a startup business that’s successful and knows how to truly integrate Artificial Intelligence to boost any new or standing business’s needs. So feel free to check our app out for all of what your company expense tracking might need.