Anchor vs. Melio

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Anchor
Score 0.0 out of 10
N/A
Anchor is an accounts receivable automation system that changes way billing is done by automating the process. The software is designed to serve accountants, bookkeepers, tax advisors, and similar agencies.
$5
one-time fee per payment received
Melio
Score 5.6 out of 10
N/A
Melio is a small business-oriented Accounts Payable tool, presented as a service that helps small businesses keep up with business. A B2B payments experience and payment workflow designed to be simple, and to enable businesses to pay domestic and international vendors, expedite payments, or pay by card.N/A
Pricing
AnchorMelio
Editions & Modules
No answers on this topic
Card processing fee
2.9%
Offerings
Pricing Offerings
AnchorMelio
Free Trial
NoYes
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details——
More Pricing Information
Community Pulse
AnchorMelio
Top Pros

No answers on this topic

Top Cons

No answers on this topic

Features
AnchorMelio
Payment Management
Comparison of Payment Management features of Product A and Product B
Anchor
-
Ratings
Melio
5.1
10 Ratings
24% below category average
Customizable Approval Policies00 Ratings5.17 Ratings
Financial Document Management00 Ratings5.07 Ratings
Payment Status Tracking00 Ratings5.110 Ratings
Payment Audit Trail00 Ratings5.18 Ratings
Duplicate Bill Detection00 Ratings4.87 Ratings
Advanced OCR00 Ratings5.57 Ratings
Electronic Funds Transfer00 Ratings5.18 Ratings
Accounts Payable
Comparison of Accounts Payable features of Product A and Product B
Anchor
-
Ratings
Melio
4.9
14 Ratings
17% below category average
Automated Accounts Payable Processes00 Ratings5.013 Ratings
Vendor Management00 Ratings4.913 Ratings
Tax Form Preparation00 Ratings4.78 Ratings
Best Alternatives
AnchorMelio
Small Businesses
MIP Fund Accounting
MIP Fund Accounting
Score 8.7 out of 10
Square 9 Softworks
Square 9 Softworks
Score 9.9 out of 10
Medium-sized Companies
Accounting Seed
Accounting Seed
Score 8.4 out of 10
Square 9 Softworks
Square 9 Softworks
Score 9.9 out of 10
Enterprises
BlackLine
BlackLine
Score 8.3 out of 10
Webexpenses
Webexpenses
Score 8.5 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
AnchorMelio
Likelihood to Recommend
-
(0 ratings)
4.5
(20 ratings)
User Testimonials
AnchorMelio
Likelihood to Recommend
Anchor
No answers on this topic
Melio
Melio is particularly well suited for small businesses above $100K in revenue whose owners want to save time and simplify bill payments. It is helpful to bookkeepers so that they don't have to ask the owners, over and over again, "what was that check for?" and "can you send me the bill?"
Read full review
Pros
Anchor
No answers on this topic
Melio
  • Same day payments
  • Low or no fees
  • Ability to let clients choose how they pay, and pick up payment fees on credit cards if they would like
Read full review
Cons
Anchor
No answers on this topic
Melio
  • There should be an automatic link between vendors added with their Melio link and the same vendors that already exist in QuickBooks. As it is now, a new vendor is created when you do that and is not linked with the one that already is in QuickBooks.
Read full review
Alternatives Considered
Anchor
No answers on this topic
Melio
Melio is 100% free if you just use ACH, and that by itself would be reason enough for me to stick with the platform, it boats a ton of other useful features that add to the experience.
Read full review
Return on Investment
Anchor
No answers on this topic
Melio
  • I have been able to save hours every week now that I am only using Melio as my payment processor
  • I can easily add invoice details which I use to create in another platform and upload to Melio, this saves me time with projects I want to be quicker with
  • The ease of use for my clients is fantastic, and makes for a seamless workflow
Read full review
ScreenShots