Brex

Brex fixed a long-due mess that was our company expense reporting

Vorteile:

Brex banking with disposable cards helped our expense reporting and controls more efficiently and automated. We diminished in over 90% the amount of missing invoices from departments invoices and automated a lot of payment workflows.

Nachteile:

Nothing to complain about. Probably just have the option to allow mark invoices as lost instead of getting eternal nagging from notifications.

An advanced system for managing expenses with the smallest details

Kommentare: Brex artificial intelligence helped us automate expense models, whereby recording expenses in detail and sending them for approval and also archiving them on the cloud is done quickly, and tracking spending at the enterprise level has become easier, as reports include expenses in detail, which enables decision makers to make decisions and also ensuring that spending is done correctly and within specified budgets.

Vorteile:

Brex is characterized by high efficiency in managing expenses, as it enables us to record the most accurate details about all expenses, regardless of the method of payment, whether it is cash or a credit card. It is easy to use the phone application to register to create a new invoice, and scanning invoices helps in transferring information from them directly to the system, which relieves us from manually entering numbers and other information. Brex enables us to link the credit card easily, and when paying with the card, we can automatically enter the information related to the payment process. I really appreciate Brex because it allows us to track approvals, as well as the notifications we receive when final approval is obtained or when a department needs more details. The records are very accurate and can easily be consulted and searched. The previous operations, also the expense reporting tool is easy to use, and enables us to prepare and send reports without much effort.

Nachteile:

You can't find anything to dislike about Brex, the user interface is modern, and the mobile app is very nice and easy to adapt to.

Great Bonuses...terrible company...stereotypical Silicon Valley Trash (Wework, Thernos, etc.)

Kommentare: If you are a small startup and want free stuff (Twilio credit, WeWork credit, etc.), Brex is great. You get free goodies and free bonuses that can help you boostrap on the cheap. If you are a legitimate busienss that has real revenue with real employees, I would advise you to stay away. If you are successful enough to be at this point, the bonuses aren't worth the tradeoffs. Do you want to give Brex 100% visibility into your company finances in exchange for a few goodies and miles/points? That tradeoff is not worth it at all for legitimate business in my opinion, but to each is own. Brex makes their money (and valuation) solely on the data they collect from their customers (financial data - expenses, income, spending habits, etc.). They use a a hyper agressive marketing and sales team to accomplish this. They are not transparent, they frequently do not honor their bonuses when they go over budget and forget to remove it from the site, and their privacy terms (and accounting software integration permissions) are ludicrous if you take the time to read them. I value transparency and honesty in our business partnerships and Brex is not a brand I would associate those two words with. They are the stereotypical Silicon Valley company backed by large VCs, run by pedigreed 20 year olds, that are out to aquire users at all costs so they can IPO in a few years and make the VCs (and their LPS) rich along with the founders. No thanks.

Vorteile:

They offer a lot of promotions through to their customer, which are quite high in value. Unfortuntely they do not always honor these promotions. It's also nice to have virtual and physical corporate cards that can easily be created and destroyed in a friendly UI.

Nachteile:

TERRIBLE accounting software integration. They have several integrations that work but they insist on creating a backend authenticated connection instead of a direct feed. They do this so that they can have access to ALL of your financial data without making that clear or transparent during the integration process. If you read their terms and conditions carefully as you attempt to integrate your accounting software, you'll notice what I am talking about. They are a very agressive sales-oriented fintech company. They offer promotions and bonuses with impressively high value, but Brex has been known not to honor many of these promotions (just google "PayPal Brex Promotion scam"). I have unfortuntely experienced this multiple times. Brex is basically the fintech version of WeWork. Brex is a LARGE team of marketing and sales people trying to promote various technology services (good services, I admit) via massive bonuses and promotions. They then offer virtual cards (like privacy.com) and expense management like so many other fintech services. They use their massive bonuses and promotions to lure in new customers and then collect all of their customer's spending data by having the customers integrate accounting software while giving up total privileges to Brex (see my first paragraph in this section) and using Brex cards to make all of their business purchases. This is no different than Square issuing the Cash App card to track consumer spending via "Boost" promos.

Great business credit card for startups and beyond. Very good expense reporting/tracking and perks.

Kommentare: There are teams in law firms focusing to startups, there are investors focusing to startups, there are incubators for startups.. How to get a business credit card as a startup was an unaddressed pain. Brex is a startup and they work with startups; they understand founder and startup needs challenges, expectations. They provided a very good solution. Startups receive and spend billions of dollars every year! Brex is making something needed and missing. Perfect.

Vorteile:

Brex card provides more or less all of the features of a highly regarded business credit card, but it is a lot better for following reasons. They work with startups and your chance of getting a credit card as a funded startup is higher and a lot easier. Plus, they keep improving, adding new features every few months. Their website and expense tracking/filing is intuitive and easy, they offer multi layers of protection and convenience (online cards etc). For life science companies there are additional discounts they secure from major vendors. Support team is "real time" responsive or quick via email. You do not need to shout to a voice recording 10 times "I want to talk to a representative" or waste hours. My impression over the last one year is highly positive!

Nachteile:

No cons compared to all other cards I have used from other top providers.

User Friendly - Good Customer Service

Kommentare: Brex has been easy to work with and has a good customer service department.

Vorteile:

This product is easy to setup, assign credit allowances, add receipts, notes, etc. and easy on the eyes.

Nachteile:

It seems that in the beginning, it was hard to keep the bank connection (4+ years ago). Then when we switched banks this year, I had to connect the new bank. Very minor annoyance. Easy to connect, it just seems like it needs fixed at an inopportune time.