15Five vs Wave
A head-to-head comparison to help you pick the right tool
Last updated: April 30, 2026
15Five
15Five is a continuous performance management platform focused on weekly check-ins, OKRs, and employee engagement. It helps managers stay connected with their teams through structured feedback and recognition tools. 15Five is popular with remote and distributed teams that need async communication tools.
Wave
Wave is a free accounting and invoicing platform designed for small businesses, freelancers, and solopreneurs. It offers genuinely free accounting, invoicing, and receipt scanning with no subscription fee. Wave makes money through payment processing and payroll add-ons. It is one of the best free accounting tools available for very small businesses with simple needs.
Pros
- ✓Simple and intuitive weekly check-in format that drives adoption
- ✓Strong OKR and goal-setting tools
- ✓Excellent manager training and coaching resources
- ✓Good engagement survey tools with benchmarking
Cons
- ✗Limited HR functionality beyond performance and engagement
- ✗No payroll or benefits administration
- ✗Reporting could be more advanced for data-driven HR teams
Pros
- ✓Genuinely free accounting and invoicing — no subscription required
- ✓Clean and easy to use interface
- ✓Good enough for most very small businesses and freelancers
- ✓Receipt scanning and bank connections included free
Cons
- ✗Limited features compared to paid alternatives
- ✗Customer support is minimal on the free plan
- ✗Not suitable for growing businesses with complex needs
- ✗Payroll and payment processing add-ons can add up in cost
15Five vs Wave: Side by Side
| Factor | 15Five | Wave |
|---|---|---|
| User Rating | N/A | N/A |
| Category | HR Software | Accounting Software |
| Pricing Model | Paid | Freemium |
| Starting Price | $4/user/mo | Free |
| Best For | Companies focused on employee engagement and performance | Solopreneurs and very small businesses wanting free accounting and invoicing software |
| Our Pick | — | — |
15Five Features
- ✓Weekly check-ins
- ✓OKRs
- ✓performance reviews
- ✓engagement surveys
- ✓manager training
Wave Features
- ✓Free accounting
- ✓invoicing
- ✓receipt scanning
- ✓bank connections
- ✓financial reporting
- ✓payments processing
- ✓payroll add-on
- ✓mobile app
Pricing Comparison
Our Take
Choose 15Five if companies focused on employee engagement and performance. Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software.
Best For
Companies focused on employee engagement and performance
Best For
Solopreneurs and very small businesses wanting free accounting and invoicing software
Also Consider
If neither 15Five nor Wave is the right fit, Justworks is worth evaluating.
Justworks
Small businesses wanting Fortune 500 benefits
From $59/employee/mo
Frequently Asked Questions
What is the difference between 15Five and Wave?
15Five is best for companies focused on employee engagement and performance. Wave is best for solopreneurs and very small businesses wanting free accounting and invoicing software.
Which is better, 15Five or Wave?
Choose 15Five if companies focused on employee engagement and performance. Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software.
How much does 15Five cost?
15Five starts at $4/user/mo. Pricing model: Paid.
How much does Wave cost?
Wave starts at Free. Pricing model: Freemium.
Who should use 15Five?
Companies focused on employee engagement and performance
Who should use Wave?
Solopreneurs and very small businesses wanting free accounting and invoicing software