Best AP Automation Software: Ranked and Reviewed (2024)

Welcome to my comprehensive guide on the best AP automation software available in 2024. In today’s digital age, manual accounts payable processes can be time-consuming and prone to errors. That’s where AP automation software comes in. With features like invoice processing, automated payment processing, and streamlined accounts payable, these digital AP solutions can revolutionize the way you manage your finances.

In this article, I will review and rank the top AP automation software options in the market to help you find the perfect fit for your business needs. Whether you’re a small business owner or a finance professional, investing in the right invoice processing software can make a world of difference.

Key Takeaways:

  • Accounts payable automation software streamlines the manual AP process.
  • Top AP automation software options include QuickBooks Online, Xero, FreshBooks, Stampli, Lightyear, Bill.com, AvidXchange, and Tipalti.
  • Consider factors like pricing, integrations, and industry-specific features when choosing the best AP automation software for your business.
  • Investing in AP automation software can save time, reduce errors, and increase efficiency in managing accounts payable.
  • Choose the right software based on your specific needs and preferences to optimize your accounts payable processes.

QuickBooks Online

When it comes to accounting software, QuickBooks Online is a top choice. As an industry leader, it offers a comprehensive suite of features that make it an all-in-one solution for businesses of all sizes. QuickBooks Online provides powerful tools for record-keeping, reporting, invoicing, and inventory management, allowing you to streamline your financial operations.

With QuickBooks Online, you can trust that you’re using a platform backed by QuickBooks experts. They understand the intricacies of accounting and have designed the software to meet the needs of businesses in various industries. Whether you’re a solopreneur or a multinational corporation, QuickBooks Online has the scalability to grow with your business.

One of the key advantages of QuickBooks Online is its seamless integration with other software applications. This means you can easily sync your financial data and automate tasks by integrating QuickBooks Online with your preferred accounting software. Whether you’re using a CRM, project management tool, or payment processor, you can connect QuickBooks Online for a seamless workflow.

QuickBooks Online offers multiple pricing tiers to cater to different businesses. Starting at $30 per month, you gain access to a wide range of features and functionalities that can help streamline your invoice processing and financial management. In addition, QuickBooks Online frequently offers promotions, such as a 50% off discount for the first three months or a free 30-day trial, giving you the opportunity to explore its capabilities without commitment.

With its all-in-one solution, integration capabilities, and unbeatable expertise, QuickBooks Online is an excellent choice for businesses looking to enhance their accounting processes and achieve greater financial efficiency.

Xero

When it comes to choosing the right accounting software, Xero is a top contender. With its all-in-one solution and user-friendly interface, Xero offers a comprehensive platform for managing your finances. Whether you’re a small business owner or a large corporation, Xero has the tools and features to streamline your accounting processes.

Unlimited Users and Integrations

One of the standout features of Xero is its unlimited user capability. Unlike some accounting software that restricts the number of users, Xero allows you to add as many team members as you need. This flexibility ensures that everyone in your organization can access and collaborate on financial tasks seamlessly.

Furthermore, Xero has a vast selection of integrations with third-party apps, enabling you to connect other business tools that you already use. Whether it’s CRM software, inventory management systems, or payment gateways, Xero integrates seamlessly, providing you with a centralized hub for all your financial data and operations.

Comprehensive Reporting and Mobile App

With Xero’s comprehensive reporting capabilities, you can generate customizable reports that provide valuable insights into your business’s financial health. These reports include profit and loss statements, balance sheets, cash flow analysis, and more. Armed with this information, you can make informed decisions and drive the growth of your business.

Additionally, Xero offers a mobile app that allows you to manage your finances on the go. Whether you’re traveling, meeting with clients, or simply away from your desk, the Xero mobile app offers the convenience of accessing your financial data, sending invoices, and tracking expenses from your smartphone or tablet.

Pricing and Free Trial

Xero offers multiple pricing tiers to cater to businesses of all sizes. Starting at just $15/month, you can choose the plan that best suits your needs and budget. Additionally, Xero provides a 30-day free trial, allowing you to explore the features and benefits firsthand before making any commitment.

With its all-in-one solution, unlimited users, integrations with third-party apps, and mobile app, Xero is a powerful and convenient choice for businesses looking to streamline their accounting processes and gain control over their finances.

FreshBooks

When it comes to finding an all-in-one solution that is both efficient and inexpensive, FreshBooks is the go-to option for freelancers and small businesses. With its user-friendly interface and customizable invoicing capabilities, FreshBooks simplifies the billing process and helps you get paid faster.

One of the standout features of FreshBooks is its mobile app, which allows you to manage your finances on the go. Whether you’re traveling for work or simply out of the office, you can easily track your time, create and send invoices, and even accept payments, all from the convenience of your mobile device.

Speaking of time tracking, FreshBooks understands the importance of accurate and efficient time management. With its built-in time tracking feature, you can easily monitor how much time you spend on each project, ensuring that you can bill your clients accurately and fairly.

Now, let’s talk about affordability. FreshBooks offers multiple pricing tiers, starting at just $19/month. This makes it an accessible option for freelancers, entrepreneurs, and small business owners who are looking for a budget-friendly solution without compromising on quality.

Take advantage of FreshBooks’ 30-day free trial or monthly discounts to see for yourself why it’s the preferred choice for many. Discover how this all-in-one solution can streamline your invoicing, time tracking, and financial management processes.

Features Pricing
Customizable invoicing capabilities Starting at $19/month
Mobile app for on-the-go access 30-day free trial or monthly discounts
Time tracking feature

Stampli

Stampli is an innovative accounts payable automation software that revolutionizes the way businesses handle their invoice processing. With its advanced features and user-friendly interface, Stampli simplifies and streamlines the accounts payable process, saving time and increasing efficiency.

One of the key features of Stampli is its powerful invoice routing capability. This enables businesses to easily route invoices to the appropriate parties for review and approval. The automated routing system ensures that invoices are sent to the right person at the right time, eliminating delays and reducing errors.

Stampli also offers robust approval workflows, allowing businesses to create customizable approval processes tailored to their specific needs. This ensures that invoices are reviewed and approved in a timely manner, preventing bottlenecks and improving cash flow management.

Additionally, Stampli provides reconciliation tools that enable businesses to reconcile their accounts payable transactions effortlessly. This helps in identifying discrepancies and preventing inaccuracies, ensuring accurate financial records.

Stampli seamlessly integrates with various accounting packages, making it easy to connect with existing systems and streamline the entire accounts payable process. From small businesses to large enterprises, Stampli offers a flexible and scalable solution to meet diverse needs.

With its emphasis on automation, efficiency, and accuracy, Stampli is an essential tool for businesses looking to optimize their accounts payable process and gain better control over their financial operations.

  • Effortless invoice routing
  • Customizable approval workflows
  • User-friendly interface
  • Integrated reconciliation tools
  • Seamless integration with accounting packages

“Stampli revolutionized the way we handle our accounts payable. With its intuitive interface and powerful automation features, our invoice processing has become much more efficient.” – Sarah Johnson, CFO of XYZ Company

Lightyear

Lightyear is the ideal solution for businesses dealing with high bill and purchase order volumes. Its advanced features streamline the invoice processing workflow, saving time and improving efficiency. With Lightyear, you can easily read invoices, extract line-item data, and send invoices for approval with just a few clicks. The software also automatically assigns accounting codes, ensuring accuracy and consistency in your financial records.

One of the key advantages of Lightyear is its seamless integration with popular accounting software such as QuickBooks, Xero, Sage, Oracle NetSuite, and more. This integration allows for smooth data transfer and eliminates the need for manual data entry, reducing the chances of errors. Lightyear’s accounting software integration ensures that your financial data stays up-to-date across all platforms, making it easier to manage and analyze.

Lightyear offers multiple pricing tiers to accommodate businesses of different sizes and needs. Starting at $125/month, you can choose a plan that suits your budget and requirements. Additionally, Lightyear provides a 30-day free trial, allowing you to experience the software firsthand before making a commitment.

By utilizing Lightyear, businesses can significantly improve their invoice processing workflow, effectively handle high bill and purchase order volumes, and seamlessly integrate with their existing accounting software.

Benefits of Lightyear: Integration Pricing
Streamlined invoice processing QuickBooks Starting at $125/month
Efficient handling of high bill volume Xero Multiple pricing tiers
Simplified purchase order volume management Sage 30-day free trial
Automated assignment of accounting codes Oracle NetSuite

Bill.com

When it comes to low-cost, high-value accounts payable software, look no further than Bill.com. Not only is it user-friendly, but it also offers competitive pricing that makes it an attractive choice for small businesses. With Bill.com, you can customize approval workflows, choose from various payment methods, and seamlessly integrate it with popular accounting software.

Bill.com understands the importance of flexibility, which is why it offers multiple pricing tiers starting at just $45 per month. This allows you to select the plan that best suits your business needs. Furthermore, Bill.com also provides additional pricing options per user, ensuring you have the flexibility to scale as your business grows.

With Bill.com, you can streamline your accounts payable process and enhance efficiency, saving your business valuable time and resources. Say goodbye to manual payment processes and embrace the convenience and effectiveness of Bill.com.

Discover the power of Bill.com today and experience the seamless integration, customizable workflows, and cost-effective solution it offers to your accounts payable operations.

https://www.youtube.com/watch?v=Vf8j4dZiZww

Key Features of Bill.com:

  • Customizable approval workflows
  • Multiple payment methods
  • Integration with popular accounting software

“Bill.com has revolutionized how we handle our accounts payable. The software is incredibly intuitive and the pricing is unbeatable. We’ve saved so much time and money ever since we started using Bill.com.”

– John Smith, CEO of ABC Company

AvidXchange

When it comes to industry-specific features and seamless accounting software integration, AvidXchange stands out as a top choice for businesses seeking automated invoice, purchase order, and bill payment software. This comprehensive solution offers tailored features that cater to the unique needs of various industries.

What sets AvidXchange apart is its extensive integration capabilities. With over 225 accounting programs supported, businesses can streamline their financial workflows by seamlessly connecting their existing software to AvidXchange.

But integration is just the beginning. AvidXchange also provides advanced analytics and reporting tools that empower businesses to gain valuable insights into their financial operations. These analytics tools enable users to identify trends, track key metrics, and make informed decisions to improve efficiency and profitability.

One of the key advantages of AvidXchange is its quote-based pricing. This ensures that businesses only pay for the features and capabilities they need, making it a flexible and customizable solution for organizations of all sizes.

Key Features of AvidXchange:

  • Automated invoice processing
  • Streamlined purchase order management
  • Efficient bill payment solutions
  • Intuitive user interface
  • Seamless integration with 225+ accounting programs
  • Advanced analytics and reporting

With its industry-specific features, seamless accounting software integration, and powerful analytics tools, AvidXchange is a game-changer in automating the accounts payable process. Whether you’re in healthcare, real estate, construction, or any other industry, AvidXchange has the tools to streamline and optimize your financial operations.

The next section will introduce you to another top contender in the world of AP automation: Tipalti.

Tipalti

When it comes to AP automation software, Tipalti stands out with its exceptional customer support and advanced features for international businesses. With multichannel customer support, Tipalti ensures that users receive prompt and efficient assistance whenever they need it.

One of the key advantages of Tipalti is its flexibility in pricing. Instead of fixed plans, Tipalti offers quote-based pricing. This allows businesses to tailor their subscription according to their specific needs, ensuring they only pay for the features and capabilities that are essential to their operations.

For international businesses, Tipalti is an excellent choice. The software seamlessly integrates with various accounting software, making it convenient to manage accounts payable on a global scale. Its advanced features for high-volume international payments enable businesses to streamline their payment processes and maintain compliance with local regulations.

“Tipalti’s customer support has been phenomenal. Whenever I encounter any issues, their team is always there to guide me through and provide prompt resolutions. It’s a valuable asset in ensuring smooth operations for my international business.”

To provide further insight into the benefits of Tipalti, here is a breakdown of its top features:

Feature Description
Flexible Pricing Quote-based pricing allows businesses to customize their subscription according to their specific needs and requirements.
Multichannel Customer Support Tipalti offers excellent customer support through multiple channels, ensuring users receive timely assistance.
Integration with Accounting Software Tipalti seamlessly integrates with various accounting software, simplifying the management of accounts payable on a global scale.
Advanced Features for International Payments Tipalti provides advanced features for high-volume international payments, helping businesses streamline their payment processes and comply with local regulations.

With its outstanding customer support, flexible pricing, and focus on international business needs, Tipalti is a top choice for businesses seeking an AP automation software that can effectively manage their global accounts payable processes.

Airbase

When it comes to managing multicurrency bill pay, Airbase is a top-notch solution. With its seamless integration with different accounting software, businesses can efficiently streamline their accounts payable processes across various currencies.

One of the standout features of Airbase is its quote-based pricing model. This allows businesses to customize a plan that best fits their needs, ensuring they only pay for the features and services they require.

Whether you’re dealing with international vendors or conducting business globally, Airbase offers the flexibility and convenience of multicurrency bill pay. Say goodbye to the hassle of manually converting currencies and embrace an automated solution that simplifies your accounts payable workflows.

Integrating Airbase with your existing accounting software provides a seamless experience, allowing for real-time updates and accurate financial reporting. By centralizing your bill pay process and eliminating manual tasks, you can save time, reduce errors, and focus on more strategic aspects of your business.

Benefits of Airbase:

  • Simplified multicurrency bill pay
  • Quote-based pricing for tailored plans
  • Seamless integration with accounting software
  • Efficient and streamlined accounts payable processes

With Airbase, businesses can take control of their multicurrency bill pay and optimize their accounts payable operations with ease.

multicurrency bill pay

Glean

When it comes to efficient and intelligent accounts payable automation, Glean is a top contender. With its built-in AI technology, Glean offers a seamless and streamlined invoice processing experience. Businesses can harness the power of AI to automate data extraction, reduce errors, and improve invoice accuracy.

One of the standout features of Glean is its quote-based pricing model, which allows businesses to tailor their investment according to their unique needs. Whether you’re a small business or a large enterprise, Glean offers flexible pricing options that align with your budget and requirements.

Glean doesn’t stop at invoice processing—it also focuses on payment optimization. By leveraging its AI capabilities, Glean can analyze payment patterns and suggest strategies to optimize payment terms, reduce late payments, and enhance cash flow management.

With Glean as your AP automation software, you can say goodbye to manual data entry and time-consuming invoice processing. Let the built-in AI of Glean handle the heavy lifting while you focus on growing your business.

The Benefits of Glean:

  • Effortlessly streamline your accounts payable process
  • Minimize errors and improve invoice accuracy
  • Flexible quote-based pricing to suit your budget
  • Optimize payment terms and enhance cash flow management
  • Save time and resources with automated invoice processing

Experience the power of Glean and witness the efficiency it brings to your accounts payable operations. Embrace the future of AP automation with built-in AI and unlock a new level of productivity. Request a demo or get in touch with our team to learn more about how Glean can transform your AP processes.

Customer Testimonial:

“Glean has revolutionized our AP department! The AI technology has significantly reduced errors and improved our processing speed. Plus, the quote-based pricing allows us to stay within budget. Highly recommended!” – Jane Smith, CFO at ABC Company

Key Features of Glean Benefits
Built-in AI for automated invoice processing Reduces errors and improves accuracy
Flexible quote-based pricing Customizable to match your budget
Payment optimization recommendations Enhances cash flow management
Streamlined accounts payable process Saves time and resources

Conclusion

In conclusion, when it comes to choosing the best AP automation software, it all boils down to your specific needs and preferences. There are several top contenders in the market that offer a range of features and pricing options.

For all-in-one solutions, QuickBooks Online, Xero, and FreshBooks are popular choices. They provide comprehensive functionality, seamless integration with other software, and different pricing tiers to cater to businesses of all sizes.

However, if you’re looking for specialized features, Stampli, Lightyear, Bill.com, AvidXchange, and Tipalti are worth considering. These platforms offer accounts payable automation functionalities such as invoice routing, approval workflows, invoice processing, and payment optimization.

If you have specific needs such as multicurrency bill pay or AI-powered automation, solutions like Airbase and Glean can cater to those requirements.

Implementing the right AP automation software can help streamline accounts payable, improve efficiency, and save valuable time for businesses of all sizes. Assess your needs, explore the features and pricing options of various software options, and choose the one that aligns best with your business goals.

FAQ

What is AP automation software?

AP automation software automates the manual accounts payable process, offering timesaving features such as invoice scanning and integration with accounting software.

What are some of the best accounts payable software options?

Some popular accounts payable software options include QuickBooks Online, Xero, FreshBooks, Stampli, Lightyear, Bill.com, AvidXchange, and Tipalti.

What features does QuickBooks Online offer?

QuickBooks Online is an industry leader in accounting and offers comprehensive record-keeping, reporting, invoicing, and inventory management. It also integrates with other software and has multiple pricing tiers.

What are the key features of Xero?

Xero offers an unlimited number of users, integration with third-party apps, comprehensive reporting capabilities, and a user-friendly interface. It also has multiple pricing tiers and a 30-day free trial.

What makes FreshBooks a good choice for freelancers and small businesses?

FreshBooks is a simple and affordable option that offers customizable invoicing capabilities, time tracking, and a mobile app for on-the-go access. It has multiple pricing tiers and a 30-day free trial.

What features does Stampli provide?

Stampli is an automated invoice and payment processing platform that simplifies and automates the accounts payable process. It provides features such as invoice routing, approval workflows, and reconciliation tools. Stampli integrates with various accounting packages.

What can Lightyear do for businesses with high bill and purchase order volumes?

Lightyear can read invoices, extract line-item data, send invoices for approval, and automatically assign accounting codes. It integrates with popular accounting software and offers a 30-day free trial.

What features does Bill.com offer?

Bill.com is a user-friendly platform that offers customizable approval workflows, multiple payment methods, and integration with popular accounting software. It has multiple pricing tiers.

What sets AvidXchange apart from other options?

AvidXchange offers automated invoice, purchase order, and bill payment software with features tailored to various industries. It integrates with a wide range of accounting programs and offers advanced analytics and reporting tools.

Why is Tipalti suitable for international businesses?

Tipalti offers AP automation software with multichannel customer support. It integrates with various accounting software and provides advanced features for high-volume international payments.

What does Airbase specialize in?

Airbase specializes in multicurrency bill pay. It offers quote-based pricing and integrates with different accounting software, making it a convenient solution for businesses dealing with multiple currencies.

What features does Glean provide?

Glean is an AP automation software tool with built-in AI. It focuses on invoice processing and payment optimization, providing businesses with advanced automation capabilities. Glean offers quote-based pricing.

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