Invoice management software includes products that help automate the tasks involved with invoice processing, which gives accounts payable (AP) teams increased speed, efficiency, and accuracy. Once invoices are received from merchants, service providers, or employees, they typically must go through an approval process, after which their information is copied or transcribed for records and payments are individually drafted and delivered. Invoice management software streamlines this workflow by scanning invoices, reading and pulling data into the AP system, and transferring payments electronically. Users in the AP department can easily review and approve invoices through a platform’s interface. Some solutions offer a mobile application for remote viewing and approval, in addition to payment allocation and account selection for each payment. Once invoices are processed, they are stored either in the cloud or on-premises for easy access at a later date. These tools will often allow manual data entry for invoices in addition to automatic data capture.
Collecting, approving, and processing invoices—also referred to as the invoice-to-pay process—is a central component in the financial life cycle for any business. These software solutions benefit the AP and accounting departments by eliminating the need for paper records, manual data entry, and mailing checks for every balance fulfillment. A number of invoice management tools also provide features of or integrate with other types of software, including billing software, procurement software, and accounting software, and often provide other helpful features related to invoice management.
To qualify for inclusion in the Invoice Management category, a product must:
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Companies of all sizes use SAP Concur to go beyond automation to a connected spend management solution encompassing travel, expense, supplier invoice, compliance and risk. For more than 20 years, our customers have stayed a step ahead with SAP Concur’s global expertise and industry-leading innovation, including time-saving tools, leading edge technology and connected data, in an ecosystem of diverse partners and applications. User-friendly and business-ready, SAP Concur unlocks powerful insights that help businesses see spending clearly, so they can manage it proactively.
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.
Bill.com is an automated bookkeeping platform that streamlines the AP/AR process for accounting firms, independent accounts, in-house and virtual bookkeepers, and businesses of all sizes. Cut time spent on bill pay by 50% with online ACH payments and approvals. Get clients paid up to 3x faster with electronic invoicing and direct deposit. Keep an easily searchable digital paper trail with unlimited document storage. Empower clients with 24/7 access to AP/AR workflows across devices. Pay both domestic and international vendors.
Cloud-based solutions for collaborative spend, finance, and sales management. ERP and CRM systems are great, but they don't do much to improve interactions between businesses. For all your investments in technology, your B2B transactions are still managed with a fragmented array of applications and manual processes. Blocking your view, keeping costs and risks high, and hobbling your competitiveness. You need technology that makes trading partner collaboration easier and more efficient. Because in a volatile global marketplace where businesses rise and fall every day, sustainable competitive advantage requires strong, mutually beneficial relationships. Ariba makes that easy. With just your web browser and a user-friendly interface, you can work with your trading partners using market-leading SaaS solutions for spend management, collaborative finance management, and sales acceleration management all integrated on a single platform. These solutions are available by subscription and on-demand, so there's no software to install or maintain. They're scalable, cost-effective, and burden-free. They're also easily integrated with your ERP and back office systems. All it takes to extend your processes to more trading partners is plugging into the Cloud. And no worries, Ariba systems are thoroughly tested to ensure continuous, secure, and reliable service delivery. You can be up and running in no time, using the industry's most complete platform to efficiently and effectively locate, communicate, and collaborate with your trading partners. Commerce is simply better with Ariba technology, whether you're looking to drive sales, control spending, or manage cash.
ServiceChannel provides facilities managers with a single platform to source, procure, manage, and pay for repair and maintenance services from commercial contractors across their enterprise. By delivering unprecedented transparency and data-driven analytics of service quality, across all trades, locations, and contractors, facilities managers drive significant brand equity and ROI for their organizations without outsourcing or investing in new infrastructure. ServiceChannel Service Automation is an integrated suite of web- and mobile-based solutions to help manage the entire process of facilities management, including finding contractors and suppliers, entering all planned and demand service requests, tracking work orders, and processing payments. There are currently two different packages to meet your business' needs: Service Automation Essentials and Service Automation Professional. More than 500 leading global brands use ServiceChannel daily to conduct business with 50,000+ contractors at more than 300,000 locations in 63 countries. These customers use ServiceChannel solutions daily to help optimize millions of transactions and billions of dollars of facilities management spend annually.
OnBase Workflow offers a rich set of point-and-click configurable rules and actions that allow AP processes to be quickly automated without the need for custom programming. It automates the process of identifying data exceptions, such as missing information and PO mismatches and can automatically notify the approver to speed exception handling. It can even route invoices back to suppliers when necessary.
Coupa Invoicing software saves lots of trees. But the benefits of efficient, accurate, and timely invoice management and processing software goes far beyond saving your AP department from drowning in a sea of paper. With the Coupa online invoice management software solution, you’ll also strengthen supplier relationships, use resources more effectively, capture early payment discounts, increase compliance, and reduce business risk. With Coupa's electronic invoicing automatic capture and processing, your invoices will be ready to pay within days. And with insight from Coupa Invoicing’s dashboards, finance can optimize payment schedules to capture discounts and manage cash. Benchmarks and trend analysis will help you identify bottlenecks, while Coupa’s e-invoicing administration tools allow you to optimize without calling IT. And when audit time rolls around, you’ll be ready.
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
Armatic is a modern AR management and billing platform, providing automation, enablement & insights from proposal to payment. Built from the ground up with interoperability, Armatic enhances the power of your existing accounting/ERP system with integrated communications, workflow automation and powerful business intelligence. Key Benefits Include: Boost Cash Flow - Fully automated AR/Collections drastically reduces time to payment (DSO). Our advanced rules engine can deliver emails, SMS and Letters automatically, ensuring the highest likelihood of payment, while enabling prompt, efficient customer communication. Enhanced/Streamlined Billing - Enable subscription/recurring billing, progress billing, automatic payments, payment plans, late fees, coupons, online billing and interactive customer portals, all integrated with your current systems. Reduce Resources - Streamline processes and Increase efficiency/accuracy across finance, sales and support teams with dynamic automated workflows, self service options and automatic sync/reconciliation. Drive Revenue - Close more business with integrated proposals, electronic signatures. Centrally Manage agreements and price lists, share documents, capture payments and automatically start billing at contract. Unlock Data Insights - Increase cross team communication and visibility with communication tracking & customer/user activity logs. Analyze results performance with MRR, collections & churn reports/projections.
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.
With BeanworksAP, your invoices are entered with guaranteed accuracy and stored securely in the cloud. Leave the data entry to us while your team tackles more strategic accounting tasks. Then use SmartCoding to intelligently code invoices along with automatic PO-to-invoice matching for seriously fast AP.
For small businesses and sole proprietorships in need of fast and accurate document reduction and spending management solutions, The Neat Company provides a cloudbased expense data and document consolidation, retention and processing platform that saves time and money while enabling collaboration with competitive insight.
Ariett provides an intuitive, cloud travel and expense reporting solution that employees love to use on any mobile or laptop device and managers leverage for corporate policy compliance and pre-approval of travel and expense requests. Ariett offers an end-to-end, cloud purchase to payment platform that helps organizations gain control and visibility to all indirect spending, including employee expenses, from one application without having to buy and implement multiple business solutions. From their phone – whether iPhone, Android, iPad, Blackberry, Windows Phone or any other device – employees can easily submit pre-travel requests and then capture receipts and import credit card charges onto their expense report after the trip. Serving over 2200 customers primarily in Software/Technology, Business Services, Non-Profit, Healthcare and Education industries, Ariett helps organizations better manage expenses with spend management analytics and reporting; seamless integration with Intacct, Dynamics GP, NetSuite and other accounting systems; and global visibility to spending across the organization. Ariett’s Key Travel and Expense Reporting Features: - User-friendly Expense Report Entry and Approval from Any Phone, Tablet, Laptop, Desktop - Pre-Travel and Pre-Expense Approval - Easy Receipt and AP Invoice Capture - Import Corporate and Personal Credit Card Charges - Policy Management with Expense IDs and Business Units - Mileage Calculator with Google Maps Integration - OCONUS/CONUS Per Diem Rates - Integration with Accounting System Dimensions, GLs and Entities - 200+ Standard Ariett Reports on Department/Employee Spend, Accruals, Open CC Charges & More! - Multi-Currency and Multi-Entity Capabilities
BravoAdvantage is the strategic procurement platform that enables organizations to generate more value, influence innovation and reduce risk. Powered by a unique supplier-centered approach that integrates supplier lifetime value throughout the entire procurement process, BravoAdvantage provides the visibility, insight and transparency required to power and improve your procurement initiatives and decisions. BravoAdvantage includes: Spend Analysis: Manage costs, compliance and risk. Aggregate spend data from multiple disparate systems; cleanse and classify data into a common classification structure; and perform multi-dimensional analysis—which enables you to identify saving opportunities and correct compliance breakdowns to ensure you realize your negotiated savings goals. Sourcing: Streamline processes, reduce cycle times and achieve valuable business outcomes. Collaborate to create, issue and evaluate sourcing events via a secure online solution, moving seamlessly from RFx direct to eAuction to maximize business relationships and lower costs throughout your supply chain. SourcingPlus: Extend sourcing to maximize complex bidding opportunities by leveraging analytical capabilities against an expanded set of supplier data to easily manage the many variables associated with high-spend, strategic categories with complex requirements that involve a large number of stakeholders. Contract Lifecycle Management: Negotiate and manage contracts in a single online environment to reduce organizational risk with unparalleled insight into supplier contracts. With visibility across the entire organization, improve tracking, negotiation and management of every contract to ensure compliance at all stages of the supply relationship. Supplier Value Management: Go beyond basic supplier scorecards. Gain a comprehensive view of your organization’s suppliers across the entire procurement process, making the procurement process more efficient and effective. Clearly see summary supplier interactions, understand interactions in process and create fact-based improvement plans for continuous supplier development. Procurement: Automates and streamlines the purchasing process from requisition to receiving with the ease of online shopping. Configurable workflows ensure fast and efficient approvals that manage and track every step of the purchase process, reducing the possibility of rogue or maverick spending. Access to a network of approved catalogs also ensures that the right item is purchased from the right supplier at the right price. Invoicing: Extend the optimization of your procurement process with streamlined accounts payable. Invoicing eliminates paper invoices by automating cost coding, approvals, and invoice image storage, while facilitating reconciliation and payment, all through an easy-to-use web interface. Savings Management: Take control of your organization’s savings management processes by streamlining collection, approval and reporting your procurement organization’s increased value generated across the entire organization. Accurately manage, track and communicate your achieved savings. Analytics: Move beyond historical reporting and into the world of role-based, guided analytics which provides actionable intelligence specific to your business needs.
Bee Invoicing is an application that simplifies invoicing, and is ideal for small businesses and contractors. With Bee Invoicing, you'll be able to easily track all customers, projects, invoices, quotes, and time, and can even generate packing lists and customer statements! Best of all, Bee Invoicing lets you get started quickly by importing Items from a spreadsheet, and Customers from your Contacts.
Conterra FIM automatically consolidates all forms of incoming invoices. Efficiently capture and store e-mails, PDFs, e-invoices and scanned paper to a central repository. Integrated Intelligent Character Recognition software exponentially improves data entry speed and accuracy. Integration with your existing accounting software means you only enter data once. The approval process starts automatically whenever a new invoice enters your system via fax, e-mail or scan.
Corcentric removes the complexity and inefficiency from network transactions, making it easier to do more business. Streamlining accounts receivable processes by automating each step from PO receipt to payment reconciliation, Corcentric ensures accurate billing with minimal IT and personnel involvement. Corcentric Billing electronically connects sellers and their buyers within a custom private-label, cloud-based network portal that provides paperless invoicing, full visibility into invoice and payment status at any time, and valuable insight into transaction data. Specializing in receivables and transaction management systems for manufacturer distribution networks and group purchasing organizations, Corcentric not only assumes supplier credit risk by extending purchasing credit directly to members of GPOs, our supply chain financing give suppliers the option to get paid early on invoices. In addition, buyers have the option to extend payment terms so they have access to more working capital.
EASY Invoice is the established and trusted solution for digital invoice processing. It captures invoices from paper and electronic formats, extracts invoice data, routes invoices around the organisation for approval, and finally passes posting data to the ERP system while storing the invoice in our revision proof archive.