Digitisation affects businesses and teams across every sector – teams are either adopting new technology or getting left behind. Accounts Payable teams are no different. However, there’s endless different software to choose from at any given moment. In particular, the rapid development of AI software can make it hard to know what’s effective versus what’s more effort than it’s worth.
There are no right or wrong answers when it comes to the best Accounts Payable software. It all depends on what your business needs and the resources you have.
In this post, we'll look at the thirteen best Accounts Payable software and how these differ depending on what your business needs.
What is an Accounts Payable software?
Accounts Payable software helps streamline processes. The most common use case is automating invoice management and payments to suppliers or vendors. Most ap software includes automation, which is often labelled as its unique selling point (USP).
There are a number of helpful use cases when it comes to implementing ap software. These include: invoice processing, automated statement reconciliation, invoice fraud detection, compliance, documenting activity and ap audit trails and more.
It's important to choose your software based on applications that would be most helpful for your business. You can learn all about Accounts Payable software and how it works in our latest article.
Here are thirteen of the best accounts payable software on the market today:
1. Xelix
Xelix is an enterprise software company offering an AI-powered Control Centre for Accounts Payable teams.
The platform takes the pain out of five core AP processes: overpayment and fraud prevention, master vendor data management, supplier statement reconciliation, vendor query management and AP/P2P reporting. Xelix is easy-to-use, cloud-based and flexible, making it suitable for large organisations across all sectors. Xelix prioritises customer support and has a product roadmap driven by customer feedback.
Best use cases: Historic and real-time payment audits to spot incorrect and duplicate payments, as well as fraud, automating supplier statement reconciliation, streamlining vendor management and upkeep of master data, managing shared inboxes and vendor queries and automated P2P reporting.
Best for: Mid-market to large enterprise companies
2. airbase
Airbase is a Procure-to-Pay platform offering control across the full procurement process, from opening a request to closing the books. Their platform gives all stakeholders visibility and control so that risks are managed, and costs are controlled.
When it comes to supporting ap teams, the airbase platform can be used as an ap automation tool. Airbase has a vendor portal to provide contact, banking, and tax information so you can strengthen global vendor relationships with quick bill creation and approvals. They also have automated three-way PO matching to increase efficiency and ensure audit readiness.
Best use cases: Easy vendor onboarding, invoice processing, three-way PO matching
Best for: Small to mid-market companies
3. Avidxchange
Avidxchange has mutiple ap automation solutions to help businesses increase efficiency, visibility and control in their Accounts Payable process.
AvidBuy is their purchase order software that helps you reduce unapproved purchases, coding errors and unnecessary delays in the PO process. They also offer invoice management software and software to replace your manual accounts payable process with purchase-to-pay automation.
Best use cases: Automate and match POs, invoice entry and management, end to end P2P process
Best for: Mid-market to large enterprise companies
4. BILL
BILL is a finance operations platform that helps businesses create and pay bills, send invoices, manage expenses, control budgets and access credit, all on one platform.
Their ap automation software optimises business payments. You can quickly and easily import your invoices with little-to-no manual entry, tailor any approval workflow to fit business rules and use an automatic two-way sync with leading accounting software. This allows you to reduce manual data entry, reconcile accounts faster and improve team productivity.
Best use cases: Reducing manual entry, simplifying approvals, tighten payment controls, two-way matching with accounting systems
Best for: Small to mid-market companies
5. Coupa
Coupa is a spend management platform that helps businesses keep their direct and indirect operations in sync with the power of community-generated AI and data.
Their ap automation solution involves touchless invoicing with two-way and three-way matching and built-in approval workflows to save time. Their software allows you to replace paper invoices with e-invoicing so you can capitalise on early payment discounts and maximise your working capital and compliance.
Best use cases: E-invoicing, touchless invoicing
Best for: Small, mid-market and large enterprise companies
6. Kefron AP
Kefron AP is a digital and information management software helping businesses easily access, manage and automate information. They offer invoice automation software that digitises invoice processes and gives full visibility on any payable process.
Their automation software eliminates manual effort and enables digital transforms for finance teams aiming for faster approvals and real-time reporting. Their award-winning AI extraction technology and expert invoice specialists create seamless, touch-free accounts payable processing.
Best use cases: 2/3 Way Matching, invoice analytics, supplier portal, statement reconciliation
Best for: Small, mid-market and large enterprise companies
7. Tipalti
Tipalti is a finance automation software helping you automate tedious tasks and sync vendors, invoices, and invoice payment data between Tipalti and your ERP or accounting software.
In the case of Accounts Payable, their software automates routine, time-intensive Accounts Payable tasks. You can shift data entry to your suppliers and eliminate inaccuracies with a multi-language supplier portal. Additionally, their advanced Optical Character Recognition (OCR) eliminates the need for manual invoice entry.
Best use cases: Self-service supplier onboarding, invoice processing, PO matching, expense management, automated approval workflows
Best for: Small to mid-market companies looking to scale operations
8. Procurify
Procurify is a single platform that covers the entire Procure-to-Pay process, helping you gain control and cut costs while driving operational efficiencies. Their platform covers spend management, purchase requests, purchase orders, contract and vendor management and more general ap automation.
Their accounts payable automation software consolidates purchasing and invoicing documents, all in one place. You can see the full story behind every invoice by integrating Procurify with your ERP system, and you can increase the speed and accuracy of invoice processing with their ap automation tool. Their platform also helps streamline bill payments to speed up the ap reconciliation process.
Best use cases: Invoice processing, bill management (reconciliation), payments (approval workflows)
Best for: Mid-market to large enterprise companies
9. Quadient
Quadient is a unified payable solution. From line-of-business (LOB) to finance and accounting, Quadient empowers teams to eliminate manual tasks, speed cash cycles, reduce IT dependence, and create personalised customer experiences across all channels. They work with a range of teams from customer experience to document automation to accounts receivable to accounts payable.
Quadient helps teams achieve end-to-end ap automation with AI-powered data entry. Their platform works with accounting software, giving you 99% touchless invoice processing with 85% data capture accuracy, and their customer support team is UK-based.
Best use cases: PO matching, invoice management, expense management, global payments
Best for: Small, mid-market and large enterprise companies
10. SoftCo
SoftCo’s P2P Software automates eProcurement, Accounts Payable, vendor management, payments and compliance.
Their Accounts Payable automation processes all PO and non-PO supplier invoices electronically from capture and matching to invoice approval and query management. SoftCoAP delivers touchless automation by incorporating unique AI and Machine Learning technology to minimise the number of supplier invoices that require manual intervention.
Best use cases: Invoice processing
Best for: Mid-size to large enterprise companies
11.Stampli
Stampli is a finance operations platform centre built by ap experts for ap teams. The software brings all AP-related communication, documentation and workflows into one place.
Their ap automation software boosts efficiency by 90% and uses an AI co-pilot, Billy the Bot to learn your organisation, approval process and cost accounting rules. Their pre-built ERP integrations support all native functionality, and they use their in-house expertise to constantly evolve to suit the needs of their customers.
Best use cases: Invoice processing with an “AI assistant”, In-product messaging
Best for: Small to mid-market to large enterprise companies
12. Yooz
The Yooz platform helps you automate your P2P process in real time.
Using AI and Machine Learning technologies, their end-to-end, cloud-based automation lets you take your ap system paperless, manage supplier relationships in real-time, approve invoices same-day, capture early payment discounts and get mobile access to invoice approvals and other communications.
Best use cases: Invoice processing, two and three-way matching, supplier approval
Best for: Small to mid-market to large enterprise companies
13. Transcepta
The Transcepta Platform delivers an intelligent and intuitive ap automation solution that evolves as it learns more about your organisation, processes and workflows.
Their Accounts Payable automation software helps ap teams eliminate manual processes, speed up invoice approval and gain visibility into every part of the ap process. Their platform captures invoices in any format, resolves invoice exceptions automatically and has access to the Transcepta Supplier Network, meaning it has access to data to help inform invoice processing so you can work faster and more efficiently.
Best use cases: Invoice processing, automatic exceptions resolving
Best for: Best for: Small to mid-market to large enterprise companies
The best accounts payable software for your business
Selecting the best accounts payable software for your business depends entirely on your business priorities.
You might decide that automated invoice processing is the only thing your business needs, or you might be a large enterprise that needs software that will support the whole accounts payable process.
The best way to make sure you're getting the most out of your software is to decide on a concrete, measurable use case. From there, you can choose a software that's best for the size of your business and can scale with you as you grow and set specific Accounts Payable KPIs so you can clearly see success metrics.
Accounts Payable Software for small businesses
The best Accounts Payable software for small businesses includes airbase, BILL, Coupa, Kefron AP, Tipalti, Quadient, Stampli, Yooz, and Transcepta. These are best equipped for the lower invoice volumes and smaller teams that come with being a small business.
Accounts Payable Software for mid-sized businesses
The best Accounts Payable software for mid-sized business includes Xelix, airbase, Avidrxchange, BILL, Coupa, Kefron AP, Procurify, Tipalti, Quadient, Softco, Stampli, Yooz and Transcepta. These platforms can handle smaller invoice volumes or smaller teams but will be able to scale with your business as you grow.
Accounts Payable Software for enterprises
The best accounts payable software for large enterprise businesses with higher budgets typically use Xelix, Avidxchange, Coupa, Kefron AP, Procurify, Quadient, SoftCo, Stampli, Yooz and Transcepta. These platforms are perfect for large teams across multiple departments with a high level of invoices.
