There are many different types of Accounts Payable AP automation software available, and the best one for you will depend on your specific needs. In this guide, I ranked and reviewed the 8 best AP automation software, along with my top 3 choices, so that you can pick the best one.
The 8 best AP automation software are Nanonets AP Automation, Airbase, Bill.com, Stampli, Centime, Tipalti, PaperSave AP Automation, and Bonsai.
AP automation software is a technology solution that streamlines the accounts payable process by automating tasks such as invoice capture, data extraction, approval routing, and payment processing. It eliminates manual data entry, reduces processing time, and improves accuracy, resulting in increased efficiency, cost savings, and better financial management.
According to a report published by Markets and Markets, the AP automation software market is expected to grow from $1.9 billion in 2019 to a whopping $3.1 billion by 2024. That is why it is very critical to keep on following the latest accounts payable automation trends.
Given the wide range of accounts payable software on the market, it may be difficult for businesses to select one. The features of AP automation software and the specific needs of the organization influence a company’s choice.
Let’s get started reviewing the best AP automation software available and help you decide the best option for you.
What are the Best Accounts Payable AP Automation Software?
The best accounts payable automation software to automate business payment processes are:
Each of these AP software processing has advantages and downsides; selecting the proper software necessitates careful planning and testing.
Nanonets is an AI-based intelligent document processing and workflow automation software that provides an AP automation AI. Nanonets is the ideal solution for businesses looking to automate accounts payable processes end-to-end using AI. Save time and resources, set up controls, and gain in-depth visibility into business spends.
Businesses of all sizes use Nanonets to automate all sorts of financial workflows end-to-end including AP automation, bill pay, invoice processing, expense/spend management and accounting automation.
- Auto-import invoice or vendor data from any source: email, cloud storage, scans or images
- AP automation AI that automatically reads invoices and syncs the right information – including line items and GL codes
- AI-based or custom approval policies that fit your business
- Read, capture, match, and approve invoices without any manual intervention
- Flag duplicate invoices, variations in PO/receipt details, and prevent vendor fraud
- Seamless reconciliations of your internal records against external statements
- Connect to your existing ERP and file systems in one click.
- Real-time notifications for invoices/payments that need your attention.
- Approve on-the-go with a single click.
Free – First 500 pages free
Pro – $499/month per AI model for up to 5000 pages
2- Airbase invoice automation software
Airbase’s account payable automation software was created to assist businesses in staying in compliance with the law. It also assists them in avoiding late fees and penalties.
The primary service provided by the company is to automate the process of accounts payable for businesses, which involves purchasing and paying for goods and services. It accomplishes this by first tracking all of a company’s purchases, then computing the cost of these purchases, and finally making payment for them.
It provides a single platform for the functions of accounts payable, an advanced corporate card program, and employee expense reimbursements. The advantages of using this AP automation software are ability to have maximum control and transparency of all the purchases procedures.
- Accounting automation
- Workflows approvals
- Live and real time reporting
- Receipt reminder
- reduce time-to-close
Prices are not disclosed.
Bill.com is a cloud-based accounts payable software that assists organizations in managing accounts payable and reducing time spent on it. It includes many capabilities, such as automatic invoice processing, electronic payments, and cost management.
This one of the best ap automation software offers several solutions for different types of businesses: Bill.com for Business, Bill.com for Professional Services, and Bill.com for Government Providers.
From our experience of using this tool, it allowed us to easily enter bills, simplify approval process, and complete picture of money coming in and out of our business.
- Duplicate invoice detection using intelligent virtual assistant technology
- Integration with other software
- Simplify recurring charges
- ACH payments
- Easy to use
- Corporate: $79 user/month
- Enterprise: Custom pricing
Stampli is an accounts payable automation software and invoice automation software that assists in the management and streamlining of the supplier payment process. It is a cloud-based ap processing software that can be accessed by desktop and mobile devices.
Stampli automates the whole accounts payable process, from purchase orders to invoicing, freeing up time for other elements of the organization. If you are looking for a reliable tool to automate your payment process, make sure to try Stampli.
- Duplicate detection
- Built-in calculations
- Integration with well known related systems
- Approval routing
- Full accounting process module
- AI used to enter details from invoices
Prices are not disclosed.
Centime’s integrated cash management solution offers a robust accounts payable feature to help businesses process invoices, route approvals, make payments, and track cash performance. By automating the AP process, growing businesses can boost efficiency, mitigate the risk of fraud and improve overall cash flow.
Centime’s invoice automation reports processing cost reductions up to 75% with the added benefit of early payment discounts. Finance teams can instantly capture invoice data from scanned paper and electronic documents, code the invoices, and route them accordingly using hierarchical rules. It also integrates well with NetSuite ERP, QuickBooks Online, and QuickBooks Desktop.
Additionally, the accounts payable solution helps users plan payment runs with an AI-based 13-week cash forecast so that teams can view the impact of payment decisions on future cash flows.
- Invoice capturing & processing
- Invoice coding and routing
- Rolling 13-week cash forecast report
- Multi-tier controls and segregation of duties
- Multiple payment types (check, ACH, or credit card)
- Early payment discounts
- Embedded ERP integration
Pricing packages are custom built based on business needs.
Tipalti is an accounts payable automation software and tools that enables businesses to automate their accounts payable processes and pay vendors more quickly, accurately, and with less manual intervention.
Tipalti automates the entire vendor payment process, including vendor selection, invoice matching, payment processing, and reconciliation. It also provides a full audit trail for every transaction.
- Payment API
- Invoice automation software capabilities
- Currency administration
- Payment reconciliation
- Full financial control
Prices are not disclosed.
PaperSave AP Automation is a cloud-based accounting software that automates invoice processing, invoicing, and payments. This ap software was created to assist businesses in automating their accounts payable process. PaperSave can also be integrated with other business applications.
We enjoy that this best AP automation software synced with our accounting software, which eliminated the need for us to manually attach invoices in the accounting software.
PaperSave is a document management system with advanced features to help manage documents lifecycle within an organization, as well as an AP automation module that gives businesses the advantage of controlling their invoices in a single solution.
- Full automation of invoice lifecycle
- Document management capabilities
- Easy to use and customizable
- Flexible document security
Prices are not disclosed.
Bonsai is a fantastic accounts payable automation tool for start-ups and small businesses that want complete control over their financial automation.
This invoice automation software allows you to have full integration with your accounting systems and CRM software to help process invoices, create purchase orders, match invoices against PO, and generate purchase order.
Like all other AP software available in the market, this is trusted by many organizations and they are well known for their customer service response time.
This accounts payable tool offers 3 different packages.
1- Starter: $24 per month
2- Professional: $39 per month
3- Business: $79 per month
Comparison of Accounts Payable Software
|Accounts Payable Software||Best For||Free Trial||Rate||Price|
|Nanonets AP Automation||Businesses of all sizes||Yes||5||FREE version|
Pro: $ 0.1 / page
|Airbase||Small and medium-sized businesses||No||5 stars||Not disclosed|
|Bill.com||Small and medium-sized businesses||No||5||Starting|
|Stampli||Businesses of all size||No||4.5||Not disclosed|
|Centime||Businesses of all size||Yes||4.5||Not disclosed|
|Tipalti||Businesses of all size||No||4||Not disclosed|
|PaperSave AP Automation||Small and medium-sized businesses||No||4||Not disclosed|