12 of the Best Invoice Automation Software

What is invoice automation software?

Invoice automation software removes much of the manual labor involved with accounts receivable and payable processing. By automating your invoicing life cycle, you’ll reduce costs and increase efficiency. Many companies are turning to invoice automation software to remain competitive.

There’s a long list of providers offering invoice automation software. Narrowing down the choices can be a daunting task. Luckily, you don’t have to worry about that. After a lot of research, we’ve come back with 12 of the best invoice automation software companies.

You’ll find a quick introduction to each offering, feature list, pricing info if available, whether the company offers a free trial or demo, and in some cases, which devices the software will work on (i.e., desktop, mobile, web-only).

1. Resolve

Resolve helps B2B companies automate and manage the extension of credit to customers. By offering automated credit terms at the point of sale, Resolve customers can increase their average order size as well as increase repeat customers. There’s also a higher probability that old and new customers will convert into buyers.

Features include:

Automated credit analysis
Allow customers to apply for new credit at checkout
Website integration using Resolve’s API
Process orders manually as well
Risk-free payment terms to your customers
Instant deposit of funds into your account upon customer purchase
Hands-off invoicing, billings, and collections
Integrates with Magento2

Demo available upon request. Pricing information is not publicly available.

2. Yooz

Yooz is a cloud-based service that automates the accounts payable process. Specifically, it focuses on purchase to payment automation. It is designed for mid market companies with revenues between $30 million to $500 million and about 100 invoices per month.

Features include:

Integrates with 200 financial management systems
Approval Process Control
Duplicate Payment Alert
Fraud Detection
Invoice Processing
PO Reconciliation
Vendor Management
Cash Management

The system can be monitored through the Yooz website, iOS device, or Android device. It comes with a 15-day free trial. Yooz pricing is based on volume. At 100 invoices per month, the estimated annual cost is $2388.

3. Stampli

If you’re looking for some of the most AP automation control available in the industry, Stampli can deliver. It is focused on invoice approvals. It allows you to resolve invoice approval issues 5x faster. Stampli integrates with existing P2P processes and has support for both PO and non-PO purchases. It is geared towards companies with 200-20,000 invoices per month.

Features include:

Approval Process Control
Duplicate Payment Alert
Fraud Detection
Vendor Management
Invoice Processing

Stampli is cloud-based and does not have a desktop or mobile interface, which means you’ll have to access it from a web browser. Pricing information is not publicly available.

4. Docuware

Docuware provides broad-based document management and workflow automation. This includes Invoice automation. Docuware will extract data from paper or electronic invoices, process them, and provide all relevant information needed for invoice approval. Docuware is focused on productivity and allows approval from mobile devices.

Features include:

Collaboration Tools
Compliance Tracking
Document Archiving
Document Indexing
Document Retention
Electronic Signature
Optical Character Recognition
File Type Conversion
Offline Access
Version Control

A free demo is available but public pricing information is not. Docuware is available via its website, iOS device, Android device, or as a Windows desktop installation.

5. DocuPhase

DocuPhase claims to lower AP processing by up to 93%. Docuphase AP services go well beyond invoice automation. They are a full accounting automation platform. DocuPhase will scan key components of an invoice and route them to the right people for approval.

Features include:

PO automation and reconciliation
Invoice process automation
Automated data entry
Automated 3-way match
Automated GL coding
Expense report processing
Approval routing
1099 Preparation
Aging Tracking
Approval Process Control
Check Writing
Data Extraction
Duplicate Payment Alert
Electronic Funds Transfer
Fraud Detection
Recurring Payments
Vendor Management

A free demo is available. Pricing information is not publicly available. DocuPhase can be installed on both Mac and Windows desktops, iOS devices, Android devices, and is available via a web browser.

6. Proactis

Proactis targets Fortune 100 or mid-market companies. It provides full AP-automation services. Proactis also helps companies streamline their source-to-pay processes.

Features include:

Reduce Invoice Errors
Speed Up Invoice Matching And Approval
Enable Early Payment Revenues
Better Cash Flow
Duplicate Payment Alert
PO Reconciliation
Vendor Management

A free demo is available. Pricing information is not publicly available. Proactis can be installed on Windows desktops, iOS devices, Android devices and is available via a web browser.

7. MineralTree

MineralTree is an end-to-end automation solution for invoice processing. This includes entry to payment collection (accounts payable). MineralTree claims that it can reduce costs by up to 75%. MineralTree is targeted at mid-sized companies.

Features include:

Approval Process Control
Cash Management
Check Writing
Duplicate Payment Alert
Fraud Detection
Invoice Processing
Vendor Management

A free demo is available. Pricing information is not publicly available. MineralTree is available via a web browser only.

8. Beanworks

Beanworks targets companies with volume between 50 - 10,000+ invoices monthly. It is able to work with small to enterprise-size companies. Beanworks is accounts payable focused but helps streamline the full invoice life-cycle. It also helps teams work remotely.

Features include:

Aging Tracking
Approval Process Control
Cash Management
Check Writing
Data Extraction
Duplicate Payment Alert
Electronic Funds Transfer
Fraud Detection
Invoice Processing
PO Reconciliation
Vendor Management

A free trial is available. Pricing information is not publicly available. Beanworks is available via a web browser, iOS, and Android.

9. Tipalti

Focused on simplifying and automating complex accounts payable for larger firms. Specifically, those with invoice-based supplier and vendor payments. Tipalti claims to reduce 80% of the workload in managing the entire global supplier payment operations.

Features include:

Approval Process Control
Cash Management
Check Writing
Duplicate Payment Alert
Electronic Funds Transfer
Fraud Detection
Invoice Processing
PO Reconciliation
Vendor Management

A free trial is available. Pricing information is not publicly available. Tipalti is available via a web browser, iOS, and Android.

10. Bill.com

Bill.com automates accounts payable and accounts receivable. It reduces errors in the process by utilizing artificial intelligence (AI) and machine learning. The more you use the system, the more it will learn your behaviors, which helps improve the overall efficiency of bill management.

Features include:

Approval Process Control
Cash Management
Check Writing
Duplicate Payment Alert
Electronic Funds Transfer
Fraud Detection
Invoice Processing
PO Reconciliation
Recurring Payments
Vendor Management

A free trial is available. Pricing starts at $39 per user/month. Bill.com is available via a web browser, iOS, and Android.

11. Spendesk

Spendesk is a spend management solutions service. They also do accounting automation.

Features include:

Automate VAT extraction
Automate expense account allocation
Receipt reconciliation
Reduce closing time
Prepare and export payments in 2 steps
Export to popular apps such as Xero, Datev, Netsuite, and Sage

A free demo is available. Pricing information is not publicly available.

12. Sage Intacct

Sage Intacct is a full suite of accounting and financial management software. It is a popular best-in-class cloud ERP software. Its target audience is small and mid-sized organizations. Sage Intacct is able to do in-depth analysis and has lots of functionality for tackling complex tasks.

Features include:

Approval Process Control
Cash Management
Check Writing
Duplicate Payment Alert
Vendor Management

A free demo is available. Pricing information is not publicly available. It is available via a web browser.

Conclusion

In today’s fast-moving, technologically-driven business environment, whether to automate your invoice life-cycle is no longer the question. It’s become more about when and who. Most of your competitors have probably already answered both of those questions.

Choosing an invoice automation software provider isn’t a quick decision. It takes time to do the proper research and speak with potentials. Hopefully, the list we’ve provided in this article helps you get a little further along in the decision-making process.