Webexpenses merges with Zudello to widen finance tools

Webexpenses has merged with finance automation platform Zudello, bringing it into its business across the UK, APAC and North America.

The deal combines Webexpenses' expense management software with Zudello's products for accounts payable, accounts receivable, order management, contract management and budgeting.

Backed by Tenzing Private Equity, Webexpenses is responding to demand from finance leaders for broader platforms that offer visibility across more than one part of the finance function.

For Webexpenses, the transaction expands a business focused on expense management since 2000. Zudello, founded in 2018 and based in Brisbane, adds software used in wider back-office finance processes.

Customers of both businesses will continue using the same brands, with products, pricing, contracts, support arrangements and data privacy measures unchanged. Over time, they are expected to gain access to a broader range of finance tools without taking on another supplier relationship.

Finance focus

A central theme of the tie-up is the use of automation in finance teams, where adoption has often been slower than in other business functions. The companies pointed to concerns over errors and the need for staff to understand how an automated result was produced before relying on it.

Zudello's platform is designed to let users review the steps behind an automated outcome, which can help finance teams verify work and explain results to auditors and regulators.

Webexpenses Chief Executive Officer Joe Sanchez said the merger is intended to address the fragmented systems many finance teams still use.

"Finance teams are consistently the last people in the office every month end. They are forced to do the important 'grunt' work, because they are running their function across multiple systems which each hold only a piece of the truth, but none have the whole. Bringing Zudello into the family allows us to pull the insights out of those point solutions and turn it into something a finance leader can act on. Zudello built software finance teams actually trust, because it's verifiable. We know how to take that to the world," Sanchez said.

Customer continuity

The merger will not alter the immediate experience for existing users. Zudello's product and team will remain in place, while Webexpenses' product roadmap will continue, with more automation added over time.

The approach suggests the merged group plans to broaden its reach by linking products customers already use, rather than requiring them to move to a replacement system. The long-term aim is a single platform experience for the office of the Chief Financial Officer.

Zudello Founder and Chief Executive Officer Neville Woller said access to Webexpenses' international reach and investment would support the next phase of development.

"We built Zudello for finance teams who need to check the work, not just trust the output. Joining forces with Webexpenses gives us a global route to market and serious investment behind the roadmap, without changing anything our customers rely on. Same product, same team, more behind it," Woller said.

Webexpenses is headquartered in Witney, Oxfordshire, and also has offices in Reading and Maroochydore in Queensland. Its software covers expense management, corporate cards, mileage and reimbursement, invoice processing and expense auditing.

Zudello's software also includes procurement and supplier management features, along with configurable approvals, multi-entity management, and document extraction. The company holds ISO 27001 certification.

The merger brings together a long-established UK expense software provider and a newer Australian finance automation business, as software groups seek to offer finance departments a wider set of connected tools while preserving existing customer contracts, support structures and data privacy measures.