Comparative Analysis of Leading AP Invoice Approval Software
By Sheila Morgan | Published: 2025-03-11 | Category: Ap Invoice Approval Software
About Ap Invoice Approval Software
AP Invoice Approval Software automates and streamlines the process of receiving, validating, routing, approving, and often processing payments for vendor invoices. This software aims to reduce manual data entry, enforce approval workflows, and improve visibility into accounts payable liabilities.
Scoring Criteria
- → Ease of Use
- → Automation Capabilities
- → Integration Options
- → Approval Workflow Customization
- → Reporting & Analytics
- → Mobile Access
- → Value for Money
The Best Ap Invoice Approval Software
#10
Medius
By Medius
Enterprise-focused AP automation solution offering robust invoice processing, matching, and workflow capabilities.
Platforms & Use Cases
Platforms: Web
Best For: Enterprise AP Automation, Complex PO Matching, Manufacturing & Distribution AP
Key Features
- ✓Autonomous AP: Leverages AI for touchless invoice processing.
- ✓Advanced Matching Engine: Handles complex scenarios including partial receipts and line-level matching.
- ✓Flexible Workflows: Supports sophisticated approval rules and delegation.
- ✓Analytics Suite: Provides insights into AP performance and bottlenecks.
Scorecard (Overall: 7.6 / 10.0)
Pricing
Custom Pricing
Contact Vendor
- Modular Solution (AP, Payments, Sourcing, etc.)
- Advanced Integrations
- Analytics
Limitations: Quote-based, enterprise pricing model
Pros
- + Deep functionality for complex enterprise needs
- + Strong matching capabilities
- + Powerful automation potential
- + Good analytics features
Cons
- - Primarily targets large enterprises
- - Can be complex to implement and configure
- - Limited native mobile app presence reported
- - Higher cost expected
Verdict
"A robust, feature-rich solution suitable for large organizations with complex AP processes and requirements, particularly in manufacturing or distribution."
#9
Yooz
By Yooz
Cloud-based AP automation solution leveraging AI and machine learning for high levels of process automation.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: High Volume Invoice Processing, Automated Data Entry and GL Coding, Fraud Detection
Key Features
- ✓Smart Data Extraction: AI-powered OCR capable of handling diverse invoice formats.
- ✓Automated GL Coding & PO Matching: Learns coding patterns and performs matching automatically.
- ✓Dynamic Approval Workflow: Configurable routing based on amount, supplier, department, etc.
- ✓Search & Reporting: Full-text search capabilities and standard AP reports.
Scorecard (Overall: 7.6 / 10.0)
Pricing
Starts From
Contact Vendor
- Core Automation
- Unlimited Users
- Standard Integrations
Limitations: Quote-based, pricing often tied to invoice volume
Pros
- + Highly automated processing with strong AI focus
- + Potentially cost-effective for high invoice volumes
- + Fast processing times
- + Includes fraud detection features
Cons
- - User interface can be less intuitive than some competitors
- - Integration options might be less extensive than others
- - Reporting is functional but not best-in-class
Verdict
"A powerful option for organizations prioritizing maximum automation and efficiency in invoice processing, particularly those with high volumes."
#8
Quadient AP Automation (formerly Beanworks)
By Quadient
Cloud-based AP automation solution focusing on streamlining workflows from purchase order to payment.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: Mid-Market AP Automation, Purchase Order Management Integration, Payment Processing
Key Features
- ✓PO to Payment Workflow: Manages purchase orders, invoices, payments, and expenses in one flow.
- ✓SmartCapture: AI-driven data capture with high accuracy focus.
- ✓Custom Approval Channels: Flexible setup for routing invoices based on various criteria.
- ✓ERP/Accounting Integration: Connects with popular systems like Sage, NetSuite, QuickBooks, Microsoft Dynamics.
Scorecard (Overall: 7.7 / 10.0)
Pricing
Core
Contact Vendor
- AP Automation
- Standard Integrations
- Basic Support
Limitations: Quote-based
Advanced
Contact Vendor
- Includes additional modules (e.g., PO, Payment)
- Premium Integrations
Limitations: Quote-based
Enterprise
Contact Vendor
- Multi-Entity
- Custom Workflows
- API Access
Limitations: Quote-based
Pros
- + Clean user interface
- + Strong integration across PO, Invoice, and Payment modules
- + Good mobile app functionality
- + Focus on workflow efficiency
Cons
- - Pricing is not transparent
- - Some advanced features might require higher tiers
- - Reporting capabilities are standard
Verdict
"A strong contender for mid-market companies needing a well-integrated solution covering purchase orders, invoice approvals, and payments."
#7
Coupa Pay (Invoice Smash)
By Coupa Software
Part of Coupa's comprehensive Business Spend Management (BSM) platform, focusing on digitizing and automating the entire invoicing lifecycle.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: Enterprise Procure-to-Pay, Business Spend Management, Large Scale AP Automation
Key Features
- ✓InvoiceSmash: AI-powered invoice data extraction from various formats.
- ✓Automated Matching: 2-way and 3-way matching against POs and receipts.
- ✓Dynamic Approval Chains: Complex workflow configuration based on business rules.
- ✓Coupa Pay: Integrated module for managing various payment types globally.
Scorecard (Overall: 7.7 / 10.0)
Pricing
Platform Pricing
Contact Vendor
- Modular access to BSM platform components
- Integration
- Analytics
Limitations: Quote-based, enterprise focus, typically high cost of entry
Pros
- + Part of a very comprehensive BSM platform
- + Strong automation and AI features
- + Excellent analytics and spend visibility
- + Scalable for large, global organizations
Cons
- - Significant investment required (cost and implementation)
- - Can be overly complex for companies only needing AP approval
- - User experience can be dense
Verdict
"A leading choice for large enterprises seeking a unified platform to manage all aspects of business spend, including sophisticated invoice processing."
#6
SAP Concur Invoice
By SAP
Part of the SAP Concur suite, offering enterprise-grade invoice management integrated with travel and expense.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: Enterprise Invoice Management, Integrated Travel, Expense, and Invoice, Global AP Operations
Key Features
- ✓Invoice Capture: Multiple methods including OCR, email, supplier network (potentially).
- ✓Configurable Workflows: Rule-based routing for complex approval chains.
- ✓Integration with SAP ERP: Tight integration with SAP S/4HANA and other SAP products.
- ✓Concur Pay: Integrated payment processing capabilities.
Scorecard (Overall: 7.4 / 10.0)
Pricing
Standard/Professional
Contact Vendor
- Core Invoice Processing
- Mobile App
- Standard Reporting
- Integration
Limitations: Quote-based, often bundled with T&E
Enterprise
Contact Vendor
- Advanced Configuration
- Premium Support
- Global Capabilities
Limitations: Quote-based
Pros
- + Powerful enterprise features and controls
- + Seamless integration within the SAP ecosystem
- + Combines invoice with travel and expense management
- + Strong mobile capabilities
Cons
- - Can be complex and expensive
- - User interface may feel dated compared to newer solutions
- - Best suited for companies already using SAP products
- - Implementation can be lengthy
Verdict
"A robust solution for large enterprises, particularly those heavily invested in the SAP ecosystem, needing integrated T&E and invoice management."
#5
AvidXchange
By AvidXchange
AP automation and payment solution primarily serving mid-market companies, with strong industry-specific focuses.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: Mid-Market AP Automation, Real Estate AP, Construction AP, HOA AP, Supplier Payment Network
Key Features
- ✓Invoice Automation: OCR data capture, PO matching (2-way and 3-way), and approval workflows.
- ✓Payment Automation (AvidPay): Large network for facilitating electronic payments to suppliers.
- ✓Industry Specialization: Tailored features and integrations for specific sectors.
- ✓Integration Services: Offers integration with numerous accounting systems and ERPs.
Scorecard (Overall: 7.4 / 10.0)
Pricing
Custom Pricing
Contact Vendor
- Invoice Automation
- Payment Services
- Integration
- Support
Limitations: Quote-based, often involves implementation fees
Pros
- + Strong focus on mid-market needs
- + Large supplier payment network
- + Industry-specific expertise and features
- + Robust automation capabilities
Cons
- - User interface sometimes considered less modern
- - Pricing can be complex
- - Implementation might be longer than simpler tools
Verdict
"A solid choice for mid-market companies, especially those in AvidXchange's target industries, needing both invoice processing and payment automation."
#4
Airbase
By Airbase
Comprehensive spend management platform combining corporate cards, bill payments, and expense reimbursements.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: Unified Spend Management, Corporate Card Management, AP Automation, Expense Reimbursement
Key Features
- ✓Guided Procurement: Manages purchase requests before spending occurs.
- ✓Bill Payments Module: Includes invoice capture, approval workflows, and payment processing.
- ✓Corporate Cards: Issues physical and virtual cards with built-in controls.
- ✓Real-time Reporting: Consolidated view of all company spend.
Scorecard (Overall: 7.9 / 10.0)
Pricing
Standard
Contact Vendor
- Core Spend Management Modules
- Basic Integrations
Limitations: Quote-based, often targets specific company sizes
Premium
Contact Vendor
- Advanced Controls
- Premium Integrations
- Dedicated Support
Limitations: Quote-based
Enterprise
Contact Vendor
- API Access
- Custom Configurations
- Multi-Entity
Limitations: Quote-based
Pros
- + Holistic approach to spend management
- + Combines cards, invoices, and expenses
- + Strong reporting across all spend types
- + Modern user interface
Cons
- - AP approval features might be less deep than dedicated AP solutions
- - Can be overkill if only needing invoice approval
- - Pricing tailored to growth-stage/mid-market companies
Verdict
"Best for companies looking for a single platform to manage all non-payroll spend, including invoice approvals."
#3
Stampli
By Stampli
Interactive AP automation software emphasizing collaboration and communication around invoices.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: Collaborative Invoice Approval, Mid-Market AP Automation, Improving AP Communication
Key Features
- ✓Invoice-Centric Collaboration: Communication tools built directly on top of the digital invoice.
- ✓Billy the Bot AI: AI assistant for invoice capture, coding, duplicate detection, and approval routing.
- ✓Flexible Approval Workflows: Supports complex, dynamic approval structures.
- ✓Direct ERP Integration: Seamless integration with major ERP and accounting systems.
Scorecard (Overall: 8.1 / 10.0)
Pricing
Custom Pricing
Contact Vendor
- Core AP Automation
- AI Features
- Unlimited Users (often)
- ERP Integration
Limitations: Quote-based pricing, requires vendor contact
Pros
- + Highly intuitive user interface
- + Excellent collaboration features
- + Strong AI capabilities for core tasks
- + Flexible approval setup
- + Fast implementation times reported
Cons
- - Pricing is not transparent
- - Reporting could be more advanced
- - Primarily focused on the AP process, less on payment execution (though partners exist)
Verdict
"A top contender for companies prioritizing ease of use, collaboration, and flexible approval workflows within the AP process."
#2
Tipalti
By Tipalti
End-to-end global accounts payable automation platform, strong in handling mass payments and complex international transactions.
Platforms & Use Cases
Platforms: Web
Best For: Global Mass Payments, Enterprise AP Automation, Supplier Onboarding, Tax Compliance
Key Features
- ✓Touchless Invoice Processing: OCR and AI for data capture, validation, and PO matching.
- ✓Supplier Management Portal: Self-service portal for suppliers to manage info and track payments.
- ✓Global Payment Infrastructure: Supports payments in numerous countries and currencies with various methods.
- ✓Built-in Tax Compliance: Automated collection and validation of W-9/W-8 forms, FATCA compliance.
Scorecard (Overall: 7.7 / 10.0)
Pricing
Platform Fee
$149.00 / month
- Core AP Automation
- Supplier Management
- Basic Integrations
Limitations: Minimum monthly fee, Transaction fees may apply
Custom/Enterprise
Contact Vendor
- Advanced Features
- Multi-Entity Support
- API Access
- Dedicated Support
Limitations: Quote-based pricing
Pros
- + Comprehensive end-to-end AP solution
- + Excellent for global payments and compliance
- + Robust supplier onboarding and management
- + Strong automation and validation features
Cons
- - Can be more complex to implement and use than SMB solutions
- - Pricing structure can be less transparent
- - Limited mobile app functionality focused on approvals
Verdict
"Ideal for mid-market and enterprise companies with significant global payment volume and complex compliance needs."
View Top Ranked Software
Watch a short ad to unlock the details for the #1 ranked software.
#1
Bill.com
By Bill.com
Popular AP automation platform focused on SMBs, offering invoice capture, approval workflows, and payment processing.
Platforms & Use Cases
Platforms: Web, iOS, Android
Best For: SMB Accounts Payable Automation, Digital Bill Payment, Invoice Management
Key Features
- ✓Intelligent Virtual Assistant (IVA): AI-powered data entry and invoice coding suggestions.
- ✓Automated Approval Workflows: Customizable multi-step approval routing based on rules.
- ✓Digital Payments: Supports ACH, check, virtual card, and international wire payments.
- ✓Sync with Accounting Software: Integrates with QuickBooks, Xero, NetSuite, Sage Intacct, etc.
Scorecard (Overall: 8.1 / 10.0)
Pricing
Essentials
$45.00 / per user/month
- AP Automation
- Basic Approvals
- Standard Integrations
Limitations: Limited users, Basic reporting
Team
$55.00 / per user/month
- Custom User Roles
- Sync with specific ERPs
Limitations: Higher cost per user
Corporate
$79.00 / per user/month
- Advanced AP/AR Automation
- Full ERP Integration
Limitations: Requires higher volume
Enterprise
Contact Vendor
- API Access
- Multi-entity Support
- Dedicated Support
Limitations: Quote-based pricing
Pros
- + User-friendly interface
- + Strong integration ecosystem, especially for SMBs
- + Combines AP approval with payment execution
- + Good mobile app functionality
Cons
- - Can become expensive with multiple users
- - Approval workflow customization could be more granular
- - Reporting features are less robust than some enterprise solutions
Verdict
"Excellent choice for SMBs seeking an easy-to-use, integrated AP automation and payment solution."
Final Thoughts
The AP Invoice Approval software market offers diverse solutions ranging from SMB-focused tools like Bill.com to comprehensive enterprise platforms like Coupa and SAP Concur. Key differentiators include the depth of automation (OCR, AI, matching), integration capabilities, workflow flexibility, user experience, and whether the tool is a standalone AP solution or part of a broader spend management suite. Solutions like Stampli excel in collaboration, while Tipalti leads in global payments, and Yooz focuses heavily on AI-driven automation.