Accounts Payable Software

Accounts payable software (also called invoice processing, p2p, procure to pay or purchase to pay software) automates invoice processing. Since invoices submitted through Electronic Data Interchanges (EDI) can be processed by simple, rules based systems, we will focus on software that can process invoices shared outside of EDIs.

Accounts payable process (also called invoice processing) includes

  • extracting data from invoices. We explained document capture in detail here. Invoices are a type of semi-structured document
  • performing validations as determined by the jurisdiction and the company's internal compliance rules
  • in case of physical good purchases: matching invoices with goods received
  • in case of service purchases: ensuring that services were indeed received
  • creating the necessary accounting entities

To be categorized as an accounts payable software a product must be able to

  • automatically extract data from invoice images in various formats.
  • perform the necessary validations and create the necessary accounting entities
  • How are vendors scored in this category?

    Invoice extraction performance is a key metric for these solutions. We have run a benchmark on the free trial/community edition software. In addition, we asked our clients for similar benchmarks.

    • The vertical (Y) axis is a normalized measure of correctly extracted fields per invoice.
    • The horizontal (X) axis is a normalized measure of extraction accuracy.
    Popularity
    Satisfaction
    Maturity
    Pricing
    Country
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    Compare Accounts Payable Software
    Results: 52

    AIMultiple is data driven. Evaluate 52 products based on comprehensive, transparent and objective AIMultiple scores. For any of our scores, click the icon to learn how it is calculated based on objective data.

    Sort by:
    = Rating
    = 30 Reviews
    = 10 Employees
    = 300 Branded Queries
    34.47661737279696
    34.22926490576066
    1.671641791044776
    36.35212245430907
    0.2706848326265452
    34.72396983983326
    5star
    Hypatos
    Rating
    4.71
    Reviews
    13%
    Employees
    71%
    Popularity
    100%

    Hypatos offers deep learning skills to automate document-based back office tasks to improve work and make organisations more efficient. The largest consumers of financial data including global manufacturing and retail leaders, the Big 4 and other Fortune 500 and technology companies rely on us. Hypatos outperforms industry standards by >10x and focuses on automation beyond data capture. Hypatos provides an enterprise grade automation module with on-prem, cloud deployment options and integrations to enterprise systems.

    69.60769315930293
    90.71551692536984
    0.21890547263681592
    96.27196820540536
    7.109988270323919
    48.49986939323599
    top5 , top10
    5star
    Certify
    Rating
    4.50
    Reviews
    100%
    Employees
    100%
    Popularity
    37%

    62.63539012024948
    83.23865487657005
    51.542288557213936
    86.90679385090812
    0
    42.0321253639289
    top5 , top10
    4star
    Sage Intacct
    Rating
    4.30
    Reviews
    100%
    Employees
    0%
    Popularity
    100%

    61.1403121008446
    95.4820895522388
    49.40298507462686
    100
    0
    26.79853464945039
    top5 , top10
    4star
    SAP Concur
    Rating
    4.00
    Reviews
    100%
    Employees
    0%
    Popularity
    100%

    58.39280297000146
    77.89018125906173
    0.5870646766169154
    79.65166948804598
    100
    38.89542468094119
    top5 , top10
    4star
    Quickbooks Desktop Enterprise
    Rating
    4.20
    Reviews
    100%
    Employees
    100%
    Popularity
    100%

    56.99421496539764
    75.57025048302734
    0
    80.34262615193597
    1.6060633402508346
    38.41817944776794
    4star
    NetSuite ERP
    Rating
    3.90
    Reviews
    100%
    Employees
    100%
    Popularity
    0%

    50.9895953325066
    66.38335222197837
    0
    70.62058747018976
    0
    35.59583844303483
    true
    4star
    Bill.com Free trial available
    Rating
    4.20
    Reviews
    100%
    Employees
    0%
    Popularity
    0%

    50.52788934987312
    70.73810540161217
    30.09950248756219
    74.09917033985136
    6.063340250834612
    30.31767329813405
    top5 , top10
    top10
    4star
    Odoo
    Rating
    4.18
    Reviews
    100%
    Employees
    100%
    Popularity
    100%

    50.00611690061906
    64.80680822500399
    100
    65.72715886106181
    0.7759631868627628
    35.20542557623413
    top5 , top10
    5star
    Stampli
    Rating
    4.80
    Reviews
    78%
    Employees
    100%
    Popularity
    100%

    49.26997298937685
    63.75106372921876
    0.7164179104477612
    67.72715329015367
    2.201569972029234
    34.78888224953495
    5star
    Spendesk
    Rating
    4.70
    Reviews
    100%
    Employees
    100%
    Popularity
    100%

    Market Presence Metrics

    Popularity

    Searches with brand name

    These are the number of queries on search engines which include the brand name of the product. Compared to other product based solutions, Accounts Payable Software is less concentrated in terms of top 3 companies' share of search queries. Top 3 companies receive 73%, 4% less than the average of search queries in this area.

    Web Traffic

    Accounts Payable Software is a less concentrated than average solution category in terms of web traffic. Top 3 companies receive 64% (14% less than average solution category) of the online visitors on accounts payable software company websites.

    Satisfaction

    Accounts Payable Software is highly concentrated than the average in terms of user reviews. Top 3 companies receive 66% (this is 6% for the average solution category) of the reviews in the market. Product satisfaction tends to be the same for more popular accounts payable software products. Average rating for top 3 products is 4.3 vs 4.3 for average accounts payable software product review.

    Maturity

    Intuit
    Hyland Software
    AvidXchange
    Tradeshift
    Emburse

    Number of Employees

    82 employees work for a typical company in this category which is 32 more than the number of employees for a typical company in the average solution category.

    In most cases, companies need at least 10 employees to serve other businesses with a proven tech product or service. 33 companies (17 less than average solution category) with >10 employees are offering accounts payable software. Top 3 products are developed by companies with a total of 501-1,000 employees. However, 1 of these top 3 companies have multiple products so only a portion of this workforce is actually working on these top 3 products.

    Insights

    Top Words Describing Accounts Payable Software

    This data is collected from customer reviews for all accounts payable software companies. The most positive word describing accounts payable software is "user friendly" that is used in 9% of the reviews. The most negative one is difficult with being used in 5% of all accounts payable software the reviews.

    user friendly
    9%
    customer service
    9%
    ease of use
    8%
    difficult
    5%
    features
    5%
    robust
    4%
    inexpensive
    3%
    works well
    1%
    easy to learn
    1%
    reliable
    1%
    Positive
    Overall
    Negative

    Customer Evaluation

    These scores are the average scores collected from customer reviews for all Accounts Payable Software companies. Compared to median scores of all solution categories, Accounts Payable Software comes forward with Ease of Use but falls behind in Value for Money.

    Customers by

    Industry

    According to customer reviews, top 3 industries using Accounts Payable Software solutions are Computer Software, Information Technology and Services and Accounting. Top 3 industries consitute 25% of all customers. Top 3 industries that use any solution categories are Computer Software, Information Technology and Services and Marketing and Advertising.

    Company Size

    According to customer reviews, most common company size is employees with a share of 19%. The median share this company size is 23%. The most common company size that uses any solution category is employees.

    Vendors by

    HQ

    Use Cases

    Publicly Traded Beverage Producing Company - Customer Case Study
    Cognitive Invoice Data Capture Enables Invoice Automation Within DMS
    Molson Coors Implements Cognitive Invoice Data Capture Tool
    Automating Invoice Posting in Accounting Platforms with Dativery One-Click Integration
    Rossum and EY Next Generation End-to-End Invoice Processing