Accounts Payable Software

Accounts payable software (also called invoice processing 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
    • Popularity
    Satisfaction
    Maturity
    Pricing
    Country

    Compare Accounts Payable Software
    Results: 51

    AIMultiple is data driven. Evaluate 51 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.

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    49.31021137816691
    0.015070244082138412
    0
    4star
    Accounting Seed
    4.30
    89%
    23%
    0%
    = 20 reviews
    = 30 employees
    = 100,000 visitors

    0
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    0
    0
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    Nvoicepay
    0%
    0%
    0%
    = 20 reviews
    = 30 employees
    = 100,000 visitors

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    19.93957587380766
    60.808530309335
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    top5 , top10
    5star
    OnPay
    4.81
    100%
    0%
    100%
    = 20 reviews
    = 30 employees
    = 100,000 visitors

    0
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    0
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    0.021768130340866595
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    Melio
    0%
    33%
    0%
    = 20 reviews
    = 30 employees
    = 100,000 visitors

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    0
    0
    0
    0.16465637052706783
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    top10
    MediusFlow
    0%
    100%
    0%
    = 20 reviews
    = 30 employees
    = 100,000 visitors

    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 62% (14% less than 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 67% (10% less than average solution category) of the online visitors on accounts payable software company websites.

    Satisfaction

    Accounts payable software is highly concentrated than average in terms of user reviews. Top 3 companies receive 74% (17% more than average solution category) of the reviews on accounts payable software company websites. 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.

    Leaders Average Review Score Number of Reviews

    Maturity

    Number of Employees

    Median number of employees that provide accounts payable software is 53 which is 7 less than the median number of employees for the average solution category.

    In most cases, companies need at least 10 employees to serve other businesses with a proven tech product or service. 28 companies (21 less than average solution category) with >10 employees are offering accounts payable software. Top 3 products are developed by companies with a total of 101-500 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.

    Oracle
    Intuit
    Kofax
    AvidXchange