20 Best Accounts Payable Automation Software Picks For 2024

Payouts is an accounts payable automation platform tailored to streamline financial processes for businesses in affiliate marketing, influencer platforms, and digital advertising networks. By focusing on automation and efficiency, Payouts simplifies vendor payments, invoicing, and accounts payable workflows.

Why I picked Payouts: Payouts excels in automating complex payment workflows, making it ideal for teams managing high transaction volumes across vendors and partners. Its AP automation capabilities ensure that vendor payments are processed accurately and on time, reducing administrative workload and improving financial transparency. Additionally, the platform's vendor management tools provide centralized oversight for communication, payment tracking, and compliance, helping businesses maintain strong relationships with partners.

Features include support for multiple payout methods, including fiat and cryptocurrencies and global accounts that facilitate transactions in local currencies, reducing conversion costs and simplifying international payments. The platform also offers advanced invoicing tools that ensure precise and timely billing and comprehensive AP workflows that minimize errors and delays.

Integrations include PayPal, Venmo, Payoneer, impact.com, CJ Affiliate, Everflow, Zelle, Priority, Tune, System1, and NetSuite.

Nanonets is an AI-powered document processing and management platform. With AI and ML, it helps users transfer invoice data to their systems in order to cut down on manual data entry. It’s less of a full AP automation system, instead connecting with other systems to streamline invoice processing.

Why I picked Nanonets: Nanonet's OCR technology can capture unstructured data from more than just invoices. IDs, bank statements, and other important documents are viable, and it can do so from multiple channels.

Features that make Nanonets a top AP automation solution include advanced OCR for extracting unstructured data from an array of documents, expense category automation, customizable workflows, and automated exception handling. Nanonets let you either train an AI model from scratch or choose one of their prebuilt models depending on what kind of data you need to pull from documents.

Integrations include Dropbox, Gmail, Google Drive, Google Sheets, Quickbooks, Sage, SharePoint, Xero, and Yardi. It can integrate with many other ERPs and accounting solutions, and you can connect Zapier for even more integrations.

Centime is a comprehensive cash management and business banking software that provides automation for accounts receivable and accounts payable processes, along with cash flow forecasting and KPI tracking. It helps improve collections effectiveness, reduce past-due payments, and enhance working capital for businesses of all sizes.

Why I picked Centime: Centime is a unique accounts payable automation software because it integrates cash management into a single platform. This integration allows you to automate invoice processing, route approvals, make payments, track performance, and more. The software also allows for instant capture of invoice data using AI, streamlines invoice coding and routing, and integrates with accounting systems, which is crucial for maintaining financial accuracy and compliance with accounting standards.

Features include accounts payable automation, which streamlines invoice processing and payment planning. The cash flow forecasting tool provides businesses with a 13-week rolling forecast to aid in liquidity planning. Additionally, Centime's working capital credit feature allows companies to access short-term credit lines from leading banks.

Integrations include NetSuite, QuickBooks, and Sage Intacct.

Xero is a cloud-based accounting software designed primarily for small to medium-sized businesses, aimed at simplifying various financial tasks. It offers a comprehensive suite of features including online invoicing, bank reconciliation, expense management, payroll processing, and project tracking.

Why I picked Xero: It offers accounts payable automation that reduces manual data entry errors and prevents overpayments or underpayments. The system allows for the customization of approval workflows, enabling mobile authorizations and maintaining a clear audit trail, which enhances both security and operational efficiency. Additionally, Xero tracks early payment opportunities, helping businesses save money and strengthen supplier relationships. The real-time cash flow insights provided by Xero's integration with accounting software aid in strategic financial planning and decision-making.

Features include online invoices, bank connections, claim expenses, bank reconciliation, payroll, multi-currency accounting, contact management, sales tax calculation, and an accounting dashboard for a comprehensive view of finances, including bank balances and outstanding invoices.

Integrations include Hubdoc, Stripe, Xero Practice Manager, Shopify integration by Xero, HubSpot CRM integration, Xero Analytics Plus, Xero Inventory Plus, Xero Workpapers, Spendesk, and Dext.

Settle is a product designed to help small CPG businesses manage their payments and cash flow by automating the accounts payable process. It’s geared towards companies that want a simpler way to manage vendor payments, optimize working capital, and gain more control over their financial operations. 

Why I picked Settle: Settle gives you tools to schedule and pay bills automatically, allowing you to better manage your outgoing cash flow. The platform lets you choose when and how to pay vendors and even helps you access financing options if you need them. You can also easily track your payment history in one place, which makes managing multiple vendors a lot easier. For businesses that rely on tight cash flow management, Settle offers flexible payment terms to help improve financial stability.

Features include detailed cash flow forecasting, which helps you predict your financial needs based on upcoming payments. Additionally, it offers customizable approval workflows, ensuring your team can review and approve payments before they’re processed.

Integrations include QuickBooks Online, NetSuite, Shopify, Amazon, Cin7, Google, and Xero.

Melio is an online payment platform designed to simplify bill payments for small businesses. It allows you to pay vendors, suppliers, and contractors using bank transfers or credit cards.

Why I picked Melio: Melio makes it easy to manage your accounts payable by letting you pay bills online, even if your vendors prefer checks. You can choose to pay via bank transfer or credit card, but your vendors get paid the way they want without any extra hassle for them. 

It's also simple to schedule payments, helping you avoid late fees and better manage your cash flow. With quick bill syncing, you and your team can keep track of everything in one place.

In my opinion, it’s a good option for small businesses or even sole proprietorships that need to keep their costs low and don’t need much more than the basics.

Features include 1099 report generation, the ability to create approval workflows in a few clicks, and OCR for invoice data capture. It notably lets businesses pay vendors with credit cards, even if the vendors don’t accept cards. Plus, Melio can grab relevant data from synced accounting software if needed.

Integrations include Amazon Business, Freshbooks, Quickbooks, and Xero. It also integrates with Microsoft Dynamics Business Central.

Klippa Invoice Processing is a cloud-based solution designed to automate your accounts payable tasks. By leveraging advanced Optical Character Recognition (OCR) technology, it extracts data from invoices, reducing manual entry and minimizing errors. 

Why I picked Klippa Invoice Processing: One key feature of Klippa Invoice Processing is its ability to handle invoices in multiple languages and currencies. This is particularly beneficial if your business operates internationally, as it ensures accurate data extraction and processing regardless of the invoice's origin. Additionally, the platform offers customizable approval workflows, allowing you to set up multi-level authorization flows that align with your company's policies. This flexibility helps maintain control over expenditures and ensures compliance with internal procedures.

Features include automatic detection of duplicate invoices and potential fraud, automatic currency conversion based on daily rates or custom settings, and various export formats for invoices, accommodating different organizational needs.

Integrations include AFAS Software, SAP, Exact Online, Odoo, Twinfield, Oracle Netsuite, Xero, Okta, QuickBooks, and Microsoft Entra ID.

Stampli is an AP automation solution that helps teams communicate with each other and work together on AP matters. Aside from the usual AP automation capabilities, Stampli has several features designed specifically to help streamline collaboration with other team members and even suppliers and vendors.

Why I picked Stampli: Experiencing some organizational siloing? Stampli’s communications hub is a neat way to knock those walls down. Anyone with Stampli access, including suppliers, can comment on invoices and respond to those comments.

Stampli’s also quite upfront about its ERP integrations. This software’s theme is about connecting teams and stakeholders within your organization.

Features that set Stampli apart include a central communications hub where all stakeholders in the system can comment on invoices and respond to comments like a social media post. The main advantage is offering transparency to vendors and suppliers and strengthening relationships through open communication. Stampli also lets you customize roles, permissions, and vendor onboarding.

Integrations include Abila MIP, Blackbaud Financial Edge NXT, Dealertrack DMS, Epicor, FinancialForce, Microsoft Dynamics 365, Oracle, Quickbooks, Sage, and SAP, plus integrations with tons of other ERP systems.

Airbase is a cloud-based spend management platform that helps businesses control employee spend and management payments. The platform supports customized spend management policies and corporate card use and monitoring.

Why I picked Airbase: Airbase is a spend management platform, which means AP automation—but it leans more toward expense management.

If you have employees with corporate cards, this software has features that help you manage their spending and make sure they aren’t running up unnecessary expenses on the company’s dime.

Features that suit Airbase to startups include mainly its corporate card management. You can create virtual cards for employees, integrate with Amex cards, monitor spend, and sync card transactions to your accounting software with detailed rule-setting. Airbase pays cashback on card use, too. Other features include contract amortization, customizable expense approval rules for different departments, spend and invoice communications, and reporting and analytics.

Integrations include several accounting systems, like Oracle NetSuite, Quickbooks, Sage Intacct, and Xero. Airbase can also integrate with HR systems, like BambooHR, HR Partner, Namely, OneLogin, PayChex, and Zenefits. It also integrates with Amex and Silicon Valley Bank credit cards.

BILL is a cloud-based business financial management tool. The platform supports accounts payable and receivable automation and helps businesses analyze their cash flows and other financial metrics.

Why I picked BILL: BILL’s biggest selling point to me was how easy it is to find most things. If you need AP and AR, BILL lets you switch between both using the main menu on the left, assuming you get the plan that offers both. I also like that BILL supports international payments in more than 130 countries.

Features BILL offers include user roles, vendor and supplier management, and custom approval policies. It also has a mobile app where you can do most of the AP and AR things the online portal lets you do, such as reviewing and approving bills, creating and sending invoices, and getting payment notifications.

Integrations include Earth Class Mail, Hubdoc, Microsoft Office, Oracle NetSuite, Quickbooks, Safe, Tallie, Tax1099.com, and Xero. Furthermore, BILL lets you import and export data between it and any accounting system or ERP platform that can import these files.