Accounts Payable Software
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Sage Intacct is a cloud ERP system targeted at high-growth small and medium-sized businesses. Intacct includes applications for core financials and accounting, purchasing, order management, and financial reporting and business intelligence. It also integrates with 3rd party software…
MIP Fund Accounting™ is a configurable fund accounting solution. The solution includes functionality for fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, and dashboards for nonprofits and government agencies.…
Webexpenses is a global provider of online expense management software to businesses of all sizes across 70+ countries. The software is used across all industries, including retail, finance, technology, construction, and not for profit. Features of the Webexpenses desktop and mobile…
SAP Concur is a SaaS expense report management product, and handles corporate travel booking, expense report automation, reimbursement, audit, and business intelligence, and corporate card integration.
QuickBooks Online is a SaaS version of the QuickBooks product. It contains all of the features found in the local version. Higher-priced plans include greater automation, payment management, inventory and time tracking, and analytics features.
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CSI Paysystems is an accounts payable automation and corporate payments platform, from Edenred company Corporate Spending Solutions (CSI).
GHX ePay is a healthcare payments solution. It aims to provide healthcare suppliers faster, more predictable payment schedules, and reduced fees and increased efficiency. And for providers, ePay provides a way to streamline and optimize the AP process across the entire trading partner…
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Tabs3 by ProfitSolv is a suite of integrated legal software solutions including fund accounting and accounts payable capabilities.
An App-Based Platform to Orchestrate B2B Transactions End to End. Its AP inbox digitalizes invoices directly from mail, to transform disparate formats into a single view at the line level with high accuracy. It offers modules and applications for requisitions, procurement, accounts…
Candis is an invoice processing and approval software solution for businesses, from the company of the same name headquartered in Berlin. It offers additional features including automatic document capture and document archiving, duplicate checking, and preaccounting.
domonda is a finance department in the cloud for companies, from the company headquartered in Vienna. domonda automates finance processes, and invoices are digitized. domonda also features approval workflows for expenses and general expense tracking features, accounting preparation,…
Remitra is a GPO and ERP-agnostic, cloud-based platform that streamlines financial processes for health systems and their suppliers, from Premier, Inc. Remitra can replace checks, faxes and manually processing paper invoices with our automated, cloud-based, paperless system that…
PEARL is an Accounts Payable Automation tool that streamlines the 'Procure to Pay' business cycle, to drive tangible savings & an improved partner ecosystem. Pearl features – PR to PO Process Automation, Vendor Management, Invoice Tracking & Approval Automation, Real-Time…
Paymaster is a full-service software solution for automating and centralizing the global vendor invoice management process, including invoice receipt, validation, audit, approval, payment, and inquiry.
Leveraging accounting technology & bookkeeping Intelligence, Hotelier Books is tailored to serve all needs of limited-service hotel property owners. Its features & significant functionality aim to create exceptional value and empower hoteliers to make better decisions, while…
Enterprises deal with large volumes of documents (electronic or paper) across business functions. On an average, 80% of the documents entering business processes are still processed manually. Kanverse aims to supply users with zero-touch invoice processing. Ingest, extract, validate,…
STAX is a cloud-based travel accounting software for travel business.
A solution for invoice processing designed to meet companies requirements for approval and release with a minimum of customizing. The package supports invoices both with and without SAP PO reference (MM/FI). Invoice allows any number of approval and release…
Tradeshift Pay, from Tradeshift headquartered in San Francisco, is an AP and e-invoicing solution supporting supply chain and supplier management.
Apruve's B2B Credit Network allows businesses to extend net terms to their customers without the associated financial risk or slow cash flow of waiting for customers to pay. How it works Apruve finances each business buyer through an automated online application. Once a buyer is…
Access Information Management offers CartaAP, an Accounts Payable solution designed to support paperless AP and invoicing with document workflow, document access control, notifications, and reporting.
Software Solution for businesses to automate invoicing, payroll and boost collaboration integrated into easy to use and chat-based user interface. 1) Send and receive a custom invoice with a payment link for a faster collection. All accounts are auto reconciled upon payment. 2)…
Exela Payment Operations solution is a lockbox and remittance processing service, that includes electronic presentment and payment options with full AR processing solutions and collections management, as well as billing and statement optimization.
X-CELERATE Invoice, from Xoriant, uses Amazon Textract to simplify invoice processing and reconciliation. Powered by Adaptive Deep Learning models which improve processing accuracy over time, the solution integrates with workflows and systems across Finance, ERP and Procurement. The…
Approval Donkey, from the small New Zealand based company of the same name, is software supporting approval requests submissions using email, online forms, or a preferred app. It helps to turn submissions into tracked and automated workflows. It is free to register and use Approval…
Cora APFlow from Genpact is an accounts payable platform that automates processes to help business users streamline payments, improve supplier relationships, and cut costs. It makes invoice processing touchless with dynamic workflows, automation, artificial intelligence, and machine…
AI-Powered Accounts Payable Automation for Accounting TeamsFraud control and customisable rules engine Hermes is a solution developed for the logistics and manufacturing industry. This is a billing solution that helps enterprises to keep better track of their supply chain.It is developed…
EZ Cloud offers a cloud-based accounts payable (AP) automation solution aimed at helping Finance professionals increase efficiency, improve visibility, and streamline manual invoice processing within their accounts payable process. With its built-in dashboards, compliance policies,…
Applexus InSITE is an automated, AI-powered SAP vendor invoice processing management solution, boasting streamlined process flows using Intelligent Data Extraction with automated exception handling and approval workflows for vendor invoice payment processing. Applexus InSITE is…
Accounts Payable Software TrustMap
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Learn More About Accounts Payable Software
What is Accounts Payable Software
Accounts payable (AP) software is a centralized platform that manages an organization’s relationship with its creditors. It automates invoice processing, payables approvals, and payment execution. The software identifies errors, tracks invoices, and improves the efficiency and accuracy of AP work, allowing accountants to handle large numbers of invoices. This improves fund management and reduces manual errors. Mobile AP software features expand the number of potential invoice approvers and allow anyplace, anytime access.
AP software is used by accounting departments to manage the account payables process, by managers and executives to monitor AP activities, and by procurement teams to match purchase orders with payables.
AP online portals allow vendors and suppliers to submit invoices and track the status of their payments for the products and services they provided.
AP automation software can be delivered as a stand-alone product that provides advanced features for complex AP operations, as part of an Accounting Software suite, or as a component of an Enterprise Resource Planning (ERP) System.
AI is being used to analyze large volumes of AP transactions for error detection and AP trends. AP AI enhances accuracy and speeds up processing times.
Cloud-based platforms are increasingly popular. They are scalable, readily incorporate new features, support ERP systems integration, and make it easier to get up and running quicker.
Accounts Payable Software Features
Accounts Payable software should have most or all of the following features:
- Invoice submission - automated, data transfer, data capture, and data entry
- Invoice processing and tracking
- Portals for vendor/supplier invoicing
- Purchase Order (PO) and invoice matching
- Payment management – invoice and payment order matching, tracking, and approval
- Approval workflow – approver permissions, templates/custom approval workflows, automated approval, and manual approval criteria, recurring payment automation, payment prioritization
- Payment automation – electronic EFT or ACH, automated check printing
- Due date alerts
- Duplicate payment alerts
- Vendor / Supplier Management – terms, payment account details, contact information
- Document Management
- Accounting regulation and standards compliance
- AP reporting, dashboards, data visualization
- 1099 creation and distribution
- Integration with accounting, ERP suites
- Cloud-based, SaaS, on-premises options
Accounts Payable Software Comparison
Consider the following when purchasing account payable software solutions.
- Features: Most accounting solutions include accounts payable features but do not necessarily provide the functionality to handle complex AP processes. Standalone AP products provide the tools to support more complex AP operations.
- Integrations: When purchasing standalone AP software ensure that it will integrate with your existing accounting and ERP systems.
- Industry: There are AP platforms that are specifically built to support retail, manufacturing, or restaurants.
- Scale: AP solutions that are appropriate for small to midsize businesses may not be suitable for enterprise-level organizations. Can the software readily scale as your business grows?
Pricing Information
Entry-level accounts payable software as a cloud-based subscription service starts at around $39 a month per user and goes up to over $150 a month. Pricing can increase dramatically depending upon the features offered and the scale of the operation. Enterprise-level products usually require obtaining a quote from the vendor. Basic small business on-premises licensing starts at $200. Free trials are available.
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Frequently Asked Questions
What is the difference between accounts receivable and accounts payable?
What does accounts payable software do?
What are the benefits of using accounts payable software?
Key benefits of accounts payable software include:
- Cost Savings: Reduced manual work and fewer human errors increase efficiency and accuracy.
- Workload Management: AP automation enables accountants to manage large numbers of invoices.
- Improved Vendor Relations: Making accurate and timely payments fosters good relations with vendors and suppliers which may result in discounting or incentives from your providers.
- Better Decision Making: A complete understanding of where your expenditures are going makes for informed decision making
- Improved Cash Management: Real-time AP information helps cash management
- Fraud Reduction: Increased visibility and transparency reduces fraud.