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Expense Management

Take control of fund expenses, from invoice to allocation.

Manage vendors, contracts, invoices, allocations, approvals and accruals in one connected workflow. Give your finance team visibility into what is outstanding, how costs are allocated and what is ready for accounting.

Book an Expense Management demo How it works

The problem

Where fund expense work gets stuck

Expense processes often grow across inboxes, spreadsheets and separate records. These are the problems finance teams describe most often.

  • Chasing invoices and approvals through email

    With HUB

    Invoices arrive in one shared queue and follow defined approval routes, so everyone can see where each one is and who it is waiting for.

  • Maintaining allocation rules across funds and entities

    With HUB

    Allocation rules are set up once for your fund and entity structure and applied consistently, rather than rebuilt in spreadsheets each period.

  • Repeatedly checking and rekeying information

    With HUB

    Invoice details are extracted for your team to review instead of retyping, and the same record carries through to allocation and accounting.

  • Tracking contracts, renewals and accruals across separate records

    With HUB

    Vendors, contracts and accruals sit alongside the invoices they relate to, with renewal and notice dates in view.

  • Explaining how an expense was allocated and approved

    With HUB

    Each expense keeps its allocation basis, approvals and comments together in one audit trail.

  • Sending consistent information to accounting and fund administrators

    With HUB

    Approved, allocated expenses are prepared in an agreed format for your accounting team or administrator.

Illustrative view

Expenses at a glance

Expenses moving from capture through allocation and approval to accounting. Vendors, funds and amounts are sample data.

Expenses

September 2026

Illustrative — sample data

4 expenses · $45,725 · 2 need attention

VendorTypeFundsAmountStatus
Northgate Research LtdResearchA · B · C$12,000Approved
Harbour Street Legal LLPLegalA · B$8,450Awaiting approval
Meridian Data ServicesMarket dataA · B · C$1,275Allocation to review
Castlegate Audit LLPAuditA · C$24,000Ready for accounting

Illustrative product view. Sample data only.

The full lifecycle

Everything around the invoice, in one place

The demonstration above follows a single expense. In practice, Expense Management covers the full lifecycle, from setting up a vendor to reporting on spend.

  1. 01

    Vendor onboarding and contract management

    Set up each vendor once, with contacts, payment details and the contracts that govern what you pay. Renewal and notice dates stay visible, and invoices link back to the contract they relate to.

    • Vendor records and contacts
    • Contract terms and fee schedules
    • Renewal and notice dates
  2. 02

    Invoice, card transaction and reimbursement capture

    Invoices from a shared inbox or upload, corporate card transactions and employee reimbursements all arrive in one queue, so nothing waits in an individual inbox.

    • Shared invoice inbox and upload
    • Card transactions
    • Employee reimbursements
  3. 03

    AI-assisted extraction, with review

    Key details such as vendor, invoice number, dates, amounts and service period are read from each document and proposed for review. Fields that need attention are highlighted, and your team confirms or corrects them before the expense moves on.

    • Proposed fields, not automatic postings
    • Fields that need review are highlighted
    • Corrections are recorded
  4. 04

    Allocation across funds and entities

    Your allocation rules split each expense across funds and entities: fixed percentages, pro rata methods on a basis you choose, or rules by expense type. The basis, percentages and amounts are shown before approval, and any change to a rule’s result is recorded with a reason.

    • Rules reflect your fund structure
    • Basis and inputs kept with each expense
    • Exceptions recorded with a reason
  5. 05

    Approval routing, exceptions and audit trails

    Each expense is routed to the right approvers based on criteria you set, such as amount, vendor, expense type or fund. Exceptions are flagged, and every edit, comment and approval is recorded with who made it and when.

    • Routes based on your criteria
    • Exceptions flagged for attention
    • Complete activity history
  6. 06

    Accruals and accounting outputs

    Track accruals for services received but not yet invoiced, and release them when the invoice arrives. Approved, allocated expenses are prepared for your accounting system or fund administrator in the format agreed during implementation.

    • Accruals tracked against contracts
    • Released when invoices arrive
    • Outputs in an agreed format
  7. 07

    Reporting and oversight

    See what is outstanding, what is waiting for approval and what is ready for accounting, by fund, vendor or expense type, and report on spend against contracts and budgets.

    • Outstanding and pending items
    • Spend by fund, vendor and type
    • Spend against contracts and budgets
01Vendor and contract record
05Approval route and activity
07Oversight by fund

Connections

Works alongside the systems you already use

Expense Management takes in documents and data from the places your team already uses, and prepares approved information for the teams and systems downstream. The connections for your setup are agreed during implementation.

Information coming in

  • Invoice inboxes and document uploads
  • Corporate card transaction data
  • Fund and entity reference data
  • Basis data for allocations, such as NAV

Information going out

  • Your accounting system or general ledger
  • Your fund administrator
  • Payment preparation
  • Reporting and data warehouses

Customers

Expense Management in practice

Automating fund expense allocations

The $4bn firm managed expense allocations and invoices through spreadsheets before moving to explore technology-driven approaches.

Read the story

View customer stories

Questions

Frequently asked questions

Can we start with one workflow?

Yes. Many teams start with a single workflow, for example capturing and allocating invoices for one group of funds, and add contracts, accruals or reporting later. Each addition uses the same vendors, funds and rules, so nothing needs to be set up twice.

Can allocation rules reflect our fund structures?

Rules are configured around your funds, share classes and entities. They can use fixed percentages, pro rata methods based on a basis you choose, such as NAV, or different rules for different expense types. Each allocation keeps a record of the rule and inputs used, so it can be explained later.

How are reviews and approvals managed?

Approval routes are based on criteria you define, such as amount, vendor, expense type or fund. Approvers see the document, the extracted details and the proposed allocation together, and can approve, query or reject. Every action is recorded in the expense’s audit trail.

How does information reach accounting or our administrator?

Approved and allocated expenses, and accruals, are prepared as outputs for your accounting system or fund administrator in the format agreed during implementation. The connections available depend on the systems you use, and we confirm them with you before you start.

What does implementation involve?

Implementation starts with the workflow you choose. Together we map your current process, set up vendors, funds and allocation rules, configure approval routes and agree the outputs you need. How long it takes depends on the scope, the number of funds and the systems involved, so we agree a plan with you once we understand your setup.

See Expense Management with your own process in mind

Tell us how your expense process works today and we will show you how it could run in HUB.

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