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Splitwise VS RedBeam

Compare Splitwise VS RedBeam and see what are their differences

Splitwise

Splitwise is a free tool for friends and roommates to track bills and other shared expenses, so that everyone gets paid back. On the web, iPhone, and Android!

Rating
0 reviews
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RedBeam

RedBeam’s fixed asset tracking SaaS streamlines audit inventories, ensures compliance and accountability, and improves asset visibility.

Rating
0 reviews
Pricing
Open source Paid Free trial $995 / Annually (Per 1 user. (Discount available))
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Nova Net Worth
Net worth tracker for people who own assets through LLCs, trusts or rentals sponsored
Note: These products don't have any matching categories. If you think this is a mistake, please edit the details of one of the products and suggest appropriate categories.

Which is more popular?

Personal Finance popularity
100% vs 0%
alternatives listed
240+ vs 127

Base details

Website, pricing, platforms and company facts side by side.

Splitwise
RedBeam
Website splitwise.com redbeam.com
Pricing —
Open source Paid Free trial $995 / Annually (Per 1 user. (Discount available)) Official pricing
Platforms —
Web Android iOS
Company — Startup from the United States · 2004
Listed in
Personal Finance Expense Tracking Bill-Splitting Apps Finance +1
Asset Management Inventory Forecasting Order Management Software

About Splitwise and RedBeam

In their own words, as submitted to SaaSHub.

Splitwise
RedBeam

No description of Splitwise yet.

RedBeam’s fixed asset tracking SaaS streamlines audit inventories, ensures compliance and accountability, and improves asset visibility. RedBeam is a cloud-based software that integrates a full encompassing solution from barcoding to scanning to exporting detailed reports and more like Check In...

Read more about RedBeam

Features and specs

What each product offers, as listed by its team.

Splitwise 7 features
RedBeam 6 features
  • User-Friendly Interface
    Splitwise provides an intuitive and easy-to-navigate interface, making it straightforward for users to add expenses, keep track of debts, and settle up.
  • Multi-Platform Availability
    Available on the web, iOS, and Android, Splitwise ensures users can access and manage their expenses from almost any device.
  • Expense Tracking
    The app allows users to easily log and categorize expenses, which can be particularly useful for group trips, shared households, or any shared financial responsibility.
  • Flexible Split Options
    Users can split expenses equally, by percentages, shares, or custom amounts, providing flexibility in how costs are divided among group members.
  • Currency Conversion
    Splitwise supports multiple currencies, which is handy for international travel or groups with members from different countries.
  • Bill Reminders
    The app sends reminders for outstanding balances, helping users to stay on top of their payments and avoid forgotten debts.
  • Integration with Payment Platforms
    Splitwise can integrate with payment platforms like PayPal and Venmo for easy settlement of balances.

Possible disadvantages

  • Privacy Concerns
    Since Splitwise involves sharing financial information with others, there could be privacy concerns for those unwilling to share detailed expense data.
  • Subscription-Based Features
    Some advanced features, such as expense exporting and additional integrations, require a Splitwise Pro subscription.
  • Manual Entry Requirement
    Splitwise requires users to manually enter expenses, which could be time-consuming and prone to errors if not done diligently.
  • Limited Automatic Reconciliation
    While Splitwise helps track who owes whom, it does not automatically reconcile or pay off balances, leaving users responsible for manual payment.
  • Dependency on Group Honesty
    The accuracy of the expense records relies on the honesty and diligence of all group members, which may not always be reliable.
  • Potential for Confusion
    The various options for splitting bills (equally, by shares, etc.) can sometimes lead to confusion or disputes among users over what is fair.
  • Take Audit Inventory
  • Check In & Out Assets to People/Projects/Departments
  • Import & Export Data and Reports
  • Customizable Fields
  • Cloud-Based W/ Real-Time Sync
  • SOC2 Certification

Analysis

An editorial look at what each product does well and who it suits.

Splitwise
RedBeam

Overall verdict

  • Splitwise is a highly effective tool for managing shared expenses, especially if frequent splitting of costs is involved. Its features make it easy to track who owes what, and its automatic calculations save time and reduce errors.

Why this product is good

  • Splitwise is popular because it simplifies sharing and tracking expenses among groups, making it ideal for roommates, friends on trips, or any group spendings.
  • It automatically calculates balances and reminds users about payments, reducing the awkwardness of asking others for money.
  • Offers a user-friendly interface both on web and mobile apps, which makes managing expenses convenient and accessible.
  • Supports multiple currencies, which is great for international travel groups.
  • Integration with payment platforms like PayPal and Venmo for easy settlement of debts.

Recommended for

  • Roommates who need to regularly split household bills and expenses.
  • Groups of friends or families who often travel together and need to manage shared travel costs.
  • Colleagues or classmates working on projects or events that require shared funding.
  • Anyone who wants to avoid the hassle of manually tracking and settling shared expenses.

Overall verdict

  • RedBeam is generally considered a solid choice for organizations seeking efficient inventory management solutions. Its set of features is well-regarded, and customer feedback often highlights its ease of use and helpful support services.

Why this product is good

  • RedBeam is recognized for its robust inventory tracking and asset management solutions, leveraging barcode scanning to facilitate efficient and accurate data collection. The software is user-friendly, integrates with various hardware options, and offers comprehensive support for different types of businesses.

Recommended for

  • Small to medium-sized businesses
  • Organizations in need of precise asset tracking
  • Businesses looking to improve inventory management efficiency
  • Companies that use barcode scanning in their operations

Videos

Walkthroughs and reviews on video.

Splitwise 3 videos + Add
RedBeam 1 video + Add

Splitwise - iPhone App Review! [2020]

More videos

  • - Tricount vs Splitwise - App comparison
  • - Splitwise Demo

RedBeam Asset Tracking Software

Category popularity

How often each product is chosen within a category, 0–100% relative to the other.

Score bands 0–20 21–40 41–50 51–60 61–100
Splitwise
RedBeam
100% 100%
Personal Finance
0% 0%
0% 0%
Inventory Management
100% 100%
100% 100%
Expense Tracking
0% 0%
0% 0%
ERP
100% 100%

User comments

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Reviews and articles

External articles and on-site reviews we used to compare the two products.

Splitwise no reviews yet
RedBeam no reviews yet

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