Companies use accounts payable (AP) automation software to manage large volumes of invoices and financial transactions between a company and its suppliers. While most accounting solutions include AP features, many of them do not provide functionality to manage complex AP processes. Companies choose AP automation software to reduce manual work and avoid human errors. AP automation software is used by accountants and by members of the accounting department responsible for accounts payable. It can also be used by managers and executives to monitor AP processing activities. This type of software simplifies complex AP activities and helps accountants manage large volumes of supplier invoices. AP automation improves the efficiency and the accuracy of the AP department and helps with other accounting activities such as financial closing. AP automation solutions can be delivered as standalone products or as a part of accounting suites that also include AR automation, billing and invoicing, and payment processing features. This type of software is integrated with accounting solutions or with accounting modules of ERP systems.
To qualify for inclusion in the AP Automation category, a product must:
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Gain real-time financial and operational visibility throughout your business. Leverage comprehensive financial controls to ensure security and compliance. Streamline your business processes using extensive automation to reduces labor, and save costs. The Sage Intacct system includes accounting, cash management, purchasing, vendor management, financial consolidation, revenue recognition, subscription billing, contract management, project accounting, fund accounting, inventory management, and financial reporting applications, all delivered through the cloud.
Bill.com, the leading digital business payments company, helps automate your accounts payable (AP) process and saves you up to 75% of the time typically spent. It’s the most widely used and one of the most integrated digital business payments platform, and it syncs with your accounting software to improve team productivity and reduce errors. With Bill.com, you can turn your finance department into an efficient, paperless environment with automated approval workflows, digital document capture and management, and built-in team collaboration. Key Benefits: Increase efficiency and save time Save up to 75% more time by eliminating the manual work associated with accounts payable, like processing paper invoices and checks, getting approvals, and recording payments in your accounting system. Simplify international payments Pay your international vendors the same way you pay a domestic vendor -- quickly and easily. Avoid hidden conversion fees and payment delays by paying vendors in their local currency. Gain more control and visibility Delegate more tasks to the right people on your team, and set up robust business rules to simplify your approvals process. See a digital audit trail for every invoice and complete payment history for all your vendors. Keep everything in sync Bill.com syncs with QuickBooks™ (Pro, Premier, Online), Xero™, NetSuite ® and Sage Intacct ®, so your team just enters a payment once and they’re done—it’s fast and accurate. Plus, invoices are matched with remittance information to speed up reconciliation. Get up and running quickly Implement in just hours, and send your first payment in minutes. Getting started with Bill.com is easy, without giving up the robustness and flexibility you need to manage your accounts payable process. Trust in a secure solution Feel safe knowing your data and payments are protected by rigorous security and compliance measures, all optimized to the highest industry standards. We’re a trusted partner of four of the top 10 largest U.S. banks, and over 60 of the top 100 accounting firms.
AvidXchange's complete solution is comprised of three main applications: purchase order application, invoice application, and payment application. These applications are supported by several service teams to enable our users to have a very supported software experience. Purchase Order Application AvidXchange’s Purchase Order Application enables you to automate your company’s purchase order process and control costs by preventing unwanted purchases. You begin your AP process by entering a requisition into the Invoice Application for the goods and/or services vendors require. That requisition is then sent into a workflow for approval. Once the requisition has the appropriate approvals, it becomes a purchase order and is sent to your vendor for fulfillment. After those goods and/or services have been rendered, the vendor will invoice you. When the invoice enters into the AvidBill Service, the purchase order is associated to the invoice using the original purchase order number, vendor, and amount that was established at the beginning of the process. The purchase order and all of the individual line items and coding have now “flipped” to the invoice. Invoice Application AvidXchange’s Invoice Application is a web-based paperless invoice management system designed to automate the way companies manage accounts payable documents. The Invoice Application provides finance executives and AP managers with enforceable controls, powerful reporting, and added “visibility” to all documents in their organization. AvidXchange Invoice mirrors your existing invoice approval process. Paper invoices are either scanned into an electronic format, or electronically submitted directly into the Invoice Application – either through direct data-import or through the Vendor Portal. Invoices are automatically coded, assigned to the appropriate workflow, and routed electronically for approval. Once fully approved, invoices flow directly into your accounting system for payment processing. Payment Application AvidXchange’s goal is to enable you to facilitate 100% of your vendor payments. Every company is unique and has a variety of vendor relationships, and our mission is to empower you with robust options to pay your vendors with best-in-class methods for paper checks and electronic payment methods. AvidXchange’s full-service payment offerings are available using AvidPay, AvidXchange’s bill payment service. When you select payments in AvidPay to be paid, they are then sent over to the AvidPay Network. The AvidPay Network is the network through which your vendors get paid. The AvidPay Network optimizes the electronic payment mix, with an average electronic adoption of 45%. For vendors that you would like to pay in-house, Create-A-Check is available as a self-managed payment option. You manage your vendor data and can facilitate payments via MICR check, ACH/EFT, and wire transfers in-house using the Create-A-Check software. 5 Key Benefits of Automating with AvidXchange: 1. Reduce Processing Costs - Automating reduces processing costs by 60%, or more. How? By eliminating the hard costs associated with paper invoices and checks, such as postage and check stock, as well as eliminating the soft costs associated with manual processes, such as data entry. 2. Create Processes that Scale for Growth - By eliminating the paper from your accounts payable processes, you also remove the manual tasks that are associated with them. Therefore, in an automated environment your company will be able to add invoice and payment volume without having to add headcount to handle labor-intensive functions. 3. Improve Control & Visibility - Automating payables gives your company 24/7 visibility into the status of invoice and payments from anywhere you have an internet connection. Additionally, we configure your workflows to mimic your current approval processes, so that you maintain all of the business rules you have in place today coupled with an electronic audit trail for an additional level of accountability. 4. Implementation in 45 Days or Less - We have a three-step process that we’ve developed over 16 years of helping to get customers up and running on our software. Every customer gets a dedicated implementation specialist that walks them through the three steps: data collection, configuration, and testing. 5. Service Teams to Support Your Experience - From the moment that you decide to become an AvidXchange customer, we have service teams in place to support you. During implementation, you have a designated implementation specialist to help you get up and running on our software, and after you’re implemented you get an account manager to help with any questions you may have along the way while you use the software. Additionally, we have a support team that has a 15-minute response rate based in Charlotte, NC. If you use our payment service, then you also are aided by our vendor enablement team and payment services team to maintain vendor data and optimize electronic payment conversion.
Award-winning MineralTree offers the only end-to-end AP automation solution that automates invoice and payment processing. Plus, MineralTree’s AP Automation solution includes two-way integration (automatic sync) with NetSuite, Sage Intacct, QuickBooks, Microsoft Dynamics GP, Microsoft Dynamics 365 Business Central, Xero and Sage 50, Sage 100. And, check and electronic payments are processed directly from the business’s bank.
Tipalti is the only end-to-end solution to automate the entire global payables operation in a unified cloud platform. We take the pain out of payables by cutting 80% of the workload, freeing up your team to focus on growth initiatives. We also provide the systems infrastructure to scale, with robust tax and regulatory compliance built in and financial controls to govern your AP operations. We do all of this while maintaining 98% customer satisfaction and work with leading companies like Google, Amazon Twitch, Houzz, Twitter, GoPro, and GoDaddy. We ensure success with dedicated service and support, and with more than 3 million suppliers around the world, we’re ready to drive your success. Tipalti provides accounts payable teams a complete global B2B payables automation solution that makes it painless to process invoices, match purchase orders to receipts and invoices, and pay suppliers and partners around the world. Wipe out 80% of your AP and supplier payment workload. Tipalti cuts the manual work from your accounts payable processes, so you can focus on revenue growth and cash flow management instead of back-office financial operations. Tipalti provides the infrastructure that sets you up for long-term sustainability, so you’ll never have to implement another AP system. Help reduce tax, regulatory, and financial control risk. Built-in audit logs, OFAC and other sanctions screening before every payment is processed, signatory rights, role-based views and privileges, robust workflow approvals, and W-9/W-8 digitized tax form collection and validation help mitigate risk and fraud. Generate revenue for AP. Early payment referral fees give AP revenue sharing opportunities and allow companies to manage cash flow better without impacting working capital. Improve supplier relationships. Offer a broad range of global payment methods and currencies, improve payment accuracy and timeliness, give early payment discounts, and provide proactive supplier visibility to payment status and history to enhance the supplier payment experience. Tipalti’s enterprise-grade cloud platform meets the highest level of security standards with extended user roles, approval workflow, and data protection. Tipalti’s systems are PCI and SSAE16 SOC audit certified. AES encryption and white-listing ensure payer and supplier information is maintained to the highest industry security levels.
Beanworks AP automates accounting workflow to empower teams to succeed. From purchase to payment, Beanworks AP integrates with your software to make accounts payable (AP) simple and delightful. Thousands of users manage AP at a fraction of traditional processing costs while remaining focused on financial management and reporting. For more information on how to save time using Beanworks AP and focus on what matters most to you, please visit: www.beanworks.com.
Accounting Seed is a robust accounting solution that transforms the way you do business. Our Financial Suite is a comprehensive accounting and ERP application that is both 100% native to the force.com platform and fully integrated into Salesforce CRM. Our accounting solution tracks data through the entire business lifecycle; from marketing, project implementation, product sales, back office accounting, to producing financial statements designed by you. It is the complete finance solution for small to mid-size companies!
Goby is the leading invoice and accounts payable automation platform and provider of ESG solutions. Our powerful, cloud-based data automation platform is driven by refined, validated blue-chip data to reshape business strategies, boost operational efficiencies, and elevate financial performance.
Stampli is a plug and play cloud-based invoice management solution for Accounts Payable that streamlines AP and helps get invoices processed 5 times faster. Until today, Accounts Payable’s greatest challenge was the communication breakdown that occurs in the process. Stampli solves this problem by turning each invoice into a communication tool which centers the conversation about the invoice on top of the invoice itself. Stampli eliminates chasing stakeholders, reducing the time to process an invoice by as much as 80% - and makes the process enjoyable for everyone involved! Featuring an intuitive and collaborative user interface, Stampli integrates seamlessly with leading ERP's including NetSuite, Intacct, Quickbooks, and SAP. Set up is fast, easy, and free, and no implementation project is required.
In as little as 15 minutes, Tesorio can connect to your ERP to learn from your customers' historical behavior, and project forward to instantly increase the accuracy of collections forecasting. Collectors can automate key aspects of their workflows through advanced dunning, and prioritize white glove outreach with user friendly filtering and template managers. Improved outreach results in lower DSO and a reduction in stale invoices (aged 60+). When feedback from your clients on promise-to-pay or expected pay dates is tracked and updated in Tesorio, those new expectations automatically flow through to update the forecast- driving additional accuracy to inform cash management. With a better understanding of inflows, our clients are positioned to more effectively manage outflows, and we empower them to do exactly that as strategically as possible. We can make recommendations on payments to delay and push payment holds directly to NetSuite, all while quantifying the net working capital impact. Tesorio also reduces noise associated with Foreign Currency exposures, by automating exposure reporting to display midmonth gain/loss analysis, net exposure positioning, and easy drill downs by currency or entity.
With Chrome River INVOICE, modern finance users will enjoy using a fully mobile-enabled invoice management solution that reduces paper while increasing efficiency and compliance. With INVOICE, teams can quickly capture, store and approve invoices that AP teams can access on-the-go or at work, empowering AP teams to take advantage of early pay discounts, increase visibility into spend, and go paperless
Esker's Accounts Payable automation software allows businesses to eliminate the manual pains of traditional AP invoice processing thanks to intelligent capture, touchless processing and electronic workflow capabilities. The end result? A simpler, more efficient way to manage cash flow and generate new revenue.
Palette Software is a leading provider of AP automation and Purchase to Pay automation, with over 3,500 clients and 250,000 users worldwide and recommend ratings of 95%. Palette provides an intelligent solution for: Invoice Capture | Invoice Processing | Approval Workflow | 2 & 3 Way PO Matching | Recurring Invoices (Contracts) | Purchase Requisition & Purchase Order Automation | Archive & Audit. It's a modules based solution that grows with the organization and is available on-premise or in the Cloud. Palette is a global solution for multiple ERPs, countries, currencies and tax rules, with unlimited users and no user license costs, bulletproof compliance control and minimal I.T. involvement. Our Platform Accreditaions include: HiTrust | Soc 1 & 2 | HIPPA | ISO 27001 | GPDR | ITAR | PEPPOL
Accrualify's Spend Management Platform helps corporate finance teams automate and manage their full AP process. Purchase Orders: Open the platform to all your employees so they can easily create purchase order requests. With customizable approval workflows, all PO requests are automatically sent to all required approvers. Accruals: Automate accrual estimate requests to vendors and have vendors input all estimate data for your admins. Invoices: Easily collect invoices from your vendors and have all invoices automatically go through your defined approval workflow. Payments: Quickly and easily pay vendor invoices with domestic ACH and internationally through our platform. Payments also qualify to go through a customized approval workflow. Additionally, if you have vendors that don't accept ACH payments, our platform will automatically cut paper checks for you as well. Budgets: Share budget and spend information with department heads, subsidiary leaders, and others to create a more transparent financial view for decision makers. Vendor Management: Make vendor management and on-boarding simplified with our Vendor Portal. Vendors input all required information, including key contact information, W-9s, payment details, and more, taking the burden off of your AP clerks. ERP Sync: All Accrualify products sync with all tier-1 ERP systems and most tier-2 systems. With our auto-syncing, your admins reduce time spent on inputing duplicative data.
Smart AP Invoice Approval is a simple to use solution designed by understanding the needs of users. The app can be deployed within 4 weeks without any need for ERP upgrades. Once the app is deployed, approval managers can take invoice approval decisions right from mobile device anytime
Invoice approval workflow - Streamline complex invoice handling process from receipt to payment. ALTO Accounts Payable is a flexible solution for invoice approval workflows. Monitors budgets, creates accruals, approves, rejects, reworks invoices. Manages exceptions. Benefits: Eliminates duplicate payments Takes advantage of discounts Eliminates late payment fees. Manages Exceptions. Improves controls Reduces costs. Improves accuracy, transparency and collaboration. Exception Handling Group Define and flag critical exceptions. Be proactive, not reactive. Your business, your rules. Rate overall experience: Every rating matters. Provide input on every single transaction. Supplier performance matters. Ease of use: Approve, reject, rework invoices with one simple click.
Automate invoice processing. Format, personalize, and deliver business application output.
Many Accounts Payables departments employ slow and costly manual processes that lacks business intelligence and process controls. By automating these process, Centreviews helps businesses improve productivity, improve controls, reduce costs, and increase profits.
Corcentric transforms the way businesses purchase, pay, and get paid, through a holistic suite of AP automation solutions designed to manage 100% of a business’ spend, including PO and non-PO invoices, and capture and convert invoices regardless of format. In addition to invoice automation, the suite includes analytics, supplier enrollment, and payment disbursement capabilities. Corcentric Payables is an ERP-agnostic, Software-as-a-Service (SaaS) accounts payable automation suite. With easy-to-use dashboards, the solution provides full visibility into invoices, status, payments, and cash flow for accurate data and reports that facilitate informed decision-making. The cloud-based application enables simple implementation and training and supports mobile invoice approvals through any smartphone or tablet.
Our cloud based AP automation solution eliminates time-consuming manual work to accelerate your invoice processing. It automates the coding, distribution and approval process for expense invoices based on your operations and the way your business is organized. The advanced matching engine also makes it possible to automatically process over 90% of purchase order-based invoices without any manual intervention. Your team can easily and quickly approve invoices, whether at their desks or on the go with an intuitive mobile solution. And a shorter approval process ensures that you can pay your suppliers on time, every time. That means no more late fees, stronger relationships with your suppliers, and even the opportunity to capture early payment discounts.