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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, 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.

Who Uses Teampay?

For companies with 20+ employees looking to streamline their spend with an all-in-one purchasing solution. Teams should be seeking to streamline spend practices and consolidate AP and expense tools.

Teampay Software - Easy-to-use, conversational interface within Slack and Microsoft Teams
Teampay Software - Up-to-date, realtime reporting saves the finance team hours each month. Don't want for month-end to know the full picture of your company's spend.
Teampay Software - Easy purchase requests and seamless approvals with all the details you need right within your workplace messaging app
Teampay Software - Teampay uses optical character recognition (OCR) technology to automatically scan invoice data, so all you have to do is review and approve.
Teampay Software - Set proactive controls based on employees and spend categories, ensuring all spending is within policy, all the time.

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Reviews of Teampay

Average score

Overall
4.3
Ease of Use
4.3
Customer Service
4.3
Features
4.1
Value for Money
4.3

Reviews by company size (employees)

  • <50
  • 51-200
  • 201-1,000
  • >1,001
Andrew
Andrew
Controller in US
Verified LinkedIn User
Consumer Goods, 201–500 Employees
Used the Software for: 1+ year
Reviewer Source

Let Management Make Their Own Decisions

5.0 6 years ago

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
VP of Finance and Technology in US
Nonprofit Organization Management, 11–50 Employees
Used the Software for: 6-12 months
Reviewer Source

Alternatives Considered:

Best Spend Management Tool

5.0 2 years ago

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 years 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.

Tara
Head of Enablement and Operations in US
E-Learning, 201–500 Employees
Used the Software for: 6-12 months
Reviewer Source

Modern way to pay

5.0 4 weeks ago New

Comments: Easy to use, great slack integration! WAY easier than an a traditional expense report.

Pros:

Way easier to manage corporate spending than expense reports

Cons:

When creating a virtual card, at times you have to guess at the amount you will need and that guess needs to be high than what you anticipate - especially when using team pay for booking travel .

Jack
FP&A Manager in US
Information Technology & Services, 201–500 Employees
Used the Software for: 6-12 months
Reviewer Source

Adequate for a time

3.0 2 years ago

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 years 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!

Scott
Senior Office Mananger in US
Medical Practice, 1,001–5,000 Employees
Used the Software for: 2+ years
Reviewer Source

Easy to Use

5.0 4 weeks ago New

Comments: 10/10 it makes my job much easier especially since I have a larger team

Pros:

Ease of use and efficiency of tracking expeditures

Cons:

Is "click" heavy meaning you meay have to lean in a little extra to get the task complete but overall this is a small con