What is an Accounts Payable Software?
Accounts Payable Software allows users to process, record, and pay vendor invoices for purchases and services. It includes document matching, approvals, discounts, OCR invoice scanning, bill payments, cash disbursement reports, general ledger posting, etc. Allows users to scan and capture paper documents to convert them into electronic documents. Accounts Payable Software also enables users to store invoices in a single repository to search and retrieve invoices at any time as per requirements.
Accounts Payable Software enables users to match supplier invoices with corresponding purchase orders to track the amounts owed accurately. Allows users to reconcile invoices and payments automatically and is marked as paid once they receive the payments. Enables users to customize approval and receive real-time notifications on transactions.
Features of Accounts Payable Software
List of Accounts Payable Software
When you start looking for the best accounts payable software, it is easy to get overwhelmed with the list of options available. Here is the handpicked list of accounts payable software to choose as per your requirement:
1. AvidXchange
AvidXchange is an account payable software suitable for midsize businesses, such as real estate, construction, financial services, etc. It includes invoice submission and tracking, purchase order approval, and customizable workflows. Allows users to scan invoices and submit them via a secure electronic portal. AvidXchange accounts payable software enables the team to review electronically and route invoices based on its current processes with rules and alerts.
AvidXchange allows users to create requisitions for regular purchases. Enables users to import invoices into the system automatically. Allows users to create 50+ standard reports or can create custom reports.
Key Features:
- Allows users to integrate with third-party applications, such as Acumatica, Blackbaud, Intacct, etc
- Also enables users to view payment and approval status at any time
- Enables users to detect duplicate orders before reaching the approval process
- Allows users to assign invoice search permissions to auditors
To know more about AvidXchange Accounts Payable Software features and product options, click here to continue.
2. Plooto
Plooto is a cloud-based accounts payable software suitable for businesses of all sizes. It includes customizable approval workflows, recurring payments, pre-authorized debit agreements, etc. Allows users to transform AP services, making them more efficient and streamlined. Plooto accounts payable software enables users to save countless hours on data entry and keeps a full audit trail of all transactions.
Plooto allows users to get payment approvals from assigned approvers from anywhere in the world. Enables users to reconcile invoices and payments automatically and is marked as paid once they receive the payments.
Key Features:
- Allows users to sync all invoices and transactions with QuickBooks and Xero
- Encrypted with the Secure Hash Algorithm 2 (SHA2) SSL certificates
- Enables users to customize approval and receive real-time notifications on transactions
- Also provides a 30 days free trial
To know more about Plooto Accounts Payable Software features and product options, click here to continue.
3. Roger
Roger is an account payable software designed for businesses of all sizes. It includes vendor management, managing purchases and bill payments. Allows users to scan invoices and process payments automatically. Roger accounts payable software also enables users to assign pay due dates automatically and eliminate manual processes. Available on monthly subscriptions and provides support via email.
Key Features:
- Allows users to integrate with third-party applications, such as Xero, Quickbooks, etc
- Provides a free trial for iOS and Android
- Allows users to maintain audit logs for all accounts using performed actions’ history
- Also provides a free trial
To know more about Roger Accounts Payable Software features and product options, click here to continue.
4. Beanworks
Beanworks is a cloud-based accounts payable software suitable for businesses of all sizes. It provides better visibility and centralized control throughout the AP process, from purchase orders to payment. Beanworks accounts payable software allows users to eliminate data entry associated with invoice processing, instantly route invoices, and quickly and easily release vendor payments. Allows users to integrate with third-party applications, such as QuickBooks, Sage Intacct, etc.
Key Features:
- Available in multiple languages, such as English and French
- Provides a mobile app for iOS and Android
- Allows users to email and scan invoices for auto-capture
- Also provides a free trial
To know more about Beanworks Accounts Payable Software features and product options, click here to continue.
5. Tipalti
Tipalti is a cloud-based accounts payable software suitable for businesses of all sizes. It includes invoice automation, payment remittance, tax calculations, reporting, payment reconciliation, etc. Allows users to send notifications to clients about invoices and payment statuses automatically. Tipalti accounts payable software enables users to collect W-9 and W-8 US tax forms to withhold payment for non-compliant payees and generates 1099 forms at the end of each year. It also offers a free trial.
Key Features:
- Allows users to integrate with third-party applications, such as Xero, NetSuite, Paypal, etc
- Available in 189+ countries
- Available in 120 currencies and six payment methods
- PCI and SSAE16 SOC audit certified
To know more about Tipalti Accounts Payable Software features and product options, click here to continue.
6. Cor360
Cor360 is a cloud-based accounts payable software suitable for small to midsize businesses. It includes an approval workflow manager, payment processor, etc. It is also integrated with procurement and billing functionalities. Cor360 accounts payable software allows users to manage invoices electronically and transform the entire accounts payable process, such as from purchase order generation to making payments.
Cor360 allows users to set up a customizable control where invoices and purchase orders are routed for approval. Enables users to make payments through ACH, Wire, and vCards. It also offers a free trial.
Key Features:
- Allows users to scan paper invoices and turn them into electronic files
- Allows users to automate the entire purchase-to-pay cycle
- Enables users to match invoices to purchase orders and receipt of goods
- Also available in multi-currencies
To know more about Cor360 Accounts Payable Software features and product options, click here to continue.
7. MediusFlow
MediusFlow is a cloud-based accounts payable software designed for businesses of all sizes. It provides automated invoice workflows, data analytics, visibility into outstanding invoices, and efficiency KPIs. Allows users to control cash, cost, and compliance. MediusFlow accounts payable software enables users to define custom rules for acceptable purchase order deviations for specific suppliers and approvals.
MediusFlow allows users to create a pre-approval purchase model to maintain purchase requisitions, orders, and goods receipts. A mobile-optimized solution that enables users to view and handle invoices from anywhere at any time.
Key Features:
- Enables users to compare current process KPIs to average and top performer peers for continuous improvement
- Allows users to integrate with third-party applications, such as SAP, Infor M3, Power BI, etc
- Enables teams to extract information from multiple sources, such as paper-based, PDF, XML files, etc
- Allows users to handle automatic coding and routing of invoices
To know more about MediusFlow Accounts Payable Software features and product options, click here to continue.
8. Alto Accounts
ALTO Accounts is a cloud-based accounts payable software suitable for businesses of all sizes. Allows users to organize workflows to monitor budgets, and forecasts, and approve, reject, and rework invoices. Enables users to define and flag critical exceptions as needed. ALTO Accounts payable software also allows users to create and run reports n real-time and gain critical insights into team members’ performance.
ALTO Accounts allows users to integrate with financial and document management systems. Enables users to receive payments instantly from clients via Stripe, PayPal, Debit/Credit Cards, etc. It also offers a free trial.
Key Features:
- Provides in-built templates that allow users to create invoices with logo
- Allows users to track invoices hourly, daily, weekly, and monthly
- Available in multiple languages, such as German, French, English, etc
- Enables users to rate and provide feedback on each transaction
To know more about Alto Accounts Payable Software features and product options, click here to continue.
9. SoftCo
SoftCo is a cloud-based accounts payable software suitable for businesses of all sizes. Allows users to maintain full visibility with detailed spending, budget, and KPI reporting. Enables users to capture all invoices using Optical Character Recognition (OCR) technology. SoftCo accounts payable software provides notifications and reminders of required actions, and signed-off invoices are sent for payment. Enables users to raise a flag for non-exceptional invoices to AP for coding and route to the relevant approver.
Key Features:
- Allows users to capture and store all paper documents, PDFs, and electronic invoices in one place
- Also allows users to integrate with any ERP system
- Enables users to deliver intuitive reports on multiple performance metrics
- Enables users to match invoices against POs and goods receipt
To know more about SoftCo Accounts Payable Software features and product options, click here to continue.
10. Nexus
Nexus is a cloud-based accounts payable software designed for businesses of all sizes. Provides a procure-to-pay solution that takes a 360-degree view of supplier and customer needs. Allows users to track invoices and payments. Nexus accounts payable software also enables users to create purchase orders, send them through approval workflows, validate data, apply business rules, and submit them electronically to suppliers.
Key Features:
- Allows users to compare budgets to actuals, pull in data from a GL package, and create custom reports
- Pricing is based on the total invoice volume per month
- Supports multiple payment services, such as credit card, ACH, etc
- Also provide a mobile app for iOS and Android
To know more about Nexus Accounts Payables Software features and product options, click here to continue.
11. Yooz
Yooz is a cloud-based accounts payable software designed for businesses of all sizes. Enables users to automate the entire payable cycle, from invoice approvals to vendor communications. Allows users to extract, scan, and import data from documents and distribute it using electronic data interchange (EDI) measures and email. Yooz accounts payable software also enables users to search and retrieve documents using keyword search and multi-criteria search functionality.
Yooz allows users to manage general ledger codes by automatically assigning numerals to financial entries. Provides GL coding and PO matching that allows users to approve or reject invoices using smart workflows and prepare and release payments more efficiently. It also provides a 15 day free trial.
Key Features:
- Allows users to integrate with third-party applications, such as Abila, Checkbook, Deltek, etc
- Allows users to receive, approve, and reassign invoices at any time
- Its key performance indicators allow users to gain insight into AP process performance
- Also provides a mobile app for iOS and Android
To know more about Yooz Accounts Payable Software features and product options, click here to continue.
12. SutiAP
SutiAP is an account payable software designed for businesses of all sizes. Allows users to capture invoices, multilevel payment approval, and document management. Enables users to match vendor invoices with purchase orders and track discrepancies. SutiAP accounts payable software allows users to use the general ledger (GL) code and eliminate duplicate invoices.
SutiAP enables users to accept payments and track transaction history and status. Allows to set permissions and determine access to individuals as per requirements. Enables users to import and export data automatically.
Key Features:
- Allows users to integrate with most accounting software
- Provides a mobile app for iOS and Android
- Also supports multi-language and multi-format invoices
- Available on-premise and a cloud-based
To know more about SutiAP Accounts Payable Software features and product options, click here to continue.
13. AIMSware
AIMSware is an account payable software suitable for businesses of all sizes. It includes a vendor portal, project costing, document management, etc. Allows users to manage invoices, create customizable workflows, and route approvals to the correct approver. AIMSware accounts payable software enables users to convert invoices to PDFs and share them with teams, vendors, etc. Allows users to escalate bottlenecks and ensure timely processing and posting of invoices.
Key Features:
- Enables users to store invoices and retrieve them as per requirements
- Allows users to integrate with most accounting software
- Also allows users to link documents into the system for instant access
- Available on-premise and a cloud-based
To know more about AIMSware Accounts Payable Software features and product options, click here to continue.
14. Finexio
Finexio is a cloud-based accounts payable software suitable for businesses of all sizes. Allows users to eliminate all conflicts in payment delivery and supplier payment acceptance. Finexio accounts payable software provides automation tools to streamline accounting and administrative processes such as invoice scanning, supplier onboarding, approval routing, and payment distribution.
Finexio allows users to perform one-time transactions using virtual account numbers and ensure account utilization. Allows users to share analytical reports and reconciliation data with suppliers or colleagues to improve collaboration.
Key Features:
- Supports multiple payment methods to generate revenue and cost savings for AP departments
- Enables users to store & retrieve information from a searchable electronic file
- Allows users to secure critical data using authorized access and internal audit controls
- Also allows users to integrate with most accounting software
To know more about Finexio Accounts Payable Software features and product options, click here to continue.
15. RapidAP
RapidAP is a cloud-based accounts payable software designed for businesses of all sizes. It includes an invoice library, task lists, discrepancy resolutions, and complex business rules. Provides an automated process to capture data with (AI)-driven OCR functionality. RapidAP accounts payable software allows users to create new groups and set up auto-GL coding for non-PO and regular invoices.
RapidAP allows users to set permissions and determine access to individuals as per requirements. Automatically provides an alert to the user when an error detects, such as overpayment/redundant payments.
Key Features:
- Allows users to store documents, such as expense forms, notes, and invoices, for future references
- Allows users to personalize certain aspects of the system as per requirements
- Allows users to check fraud detection, such as GST vendor checks and tax algorithm queries
- Also enables users to integrate with most ERP software
To know more about RapidAP Accounts Payable software features and product options, click here to continue.
16. SnapAP
SnapAP is cloud-based accounts payable software suitable for businesses of all sizes. It includes purchase orders, delivery receipts, invoice processing, automated accruals, etc. It also provides users with a complete procure-to-pay digitized workflow, from requisition to payment management. It provides enhanced access, security, and cash flow visibility. SnapAP accounts payable software allows users to send electronic payment files to the bank to pay suppliers instantly via Internet Banking Transfer (EFT).
Key Features:
- Enables users to automatically send invoices to the appropriate team members for review and approval
- Also allows users to integrate with most ERP software
- Enables users to eliminate late and duplicate payments to improve the audit review process
- Also allows users to see accounts payable liabilities in real-time
To know more about SnapAP Accounts Payable software features and product options, click here to continue.
Conclusion
Accounts Payable Software eliminates manual processes and reduce accounts payable workload, human error, and fraud to speed up day-to-day account payable processes. Allows users to manage large volumes of invoices and financial transactions. Enables users to escalate bottlenecks and ensure timely processing and posting of invoices. Accounts Payable Software also provides a mobile-optimized solution that lets users view and manage invoices from anywhere at any time.
