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
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.
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.
SAP Concur
= 100 reviews
= 40 employees
= 100,000 visitors
Certify
= 100 reviews
= 40 employees
= 100,000 visitors
Sage Intacct
= 100 reviews
= 40 employees
= 100,000 visitors
NetSuite ERP
= 100 reviews
= 40 employees
= 100,000 visitors
Quickbooks Desktop Enterprise
= 100 reviews
= 40 employees
= 100,000 visitors
Bill.com Free trial available
= 100 reviews
= 40 employees
= 100,000 visitors
Spendesk
= 100 reviews
= 40 employees
= 100,000 visitors
OnPay
= 100 reviews
= 40 employees
= 100,000 visitors
DocuWare
= 100 reviews
= 40 employees
= 100,000 visitors
Odoo
= 100 reviews
= 40 employees
= 100,000 visitors
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 59% (15% 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% (6% 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 71% (13% 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.
Maturity
Number of Employees
Median number of employees that provide accounts payable software is 53 which is 1
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. 30 companies (19
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.
Customer 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 "Ease of use" that is used in 17% of the reviews.
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 Likelihood to Recommend.
Customers by
Industry
According to customer reviews, top 3 industries using accounts payable software solutions are Commercial Real Estate, Accounting and Real Estate. Top 3 industries consitute 98% of all customers. Top 3 industries that use any solution categories are Information Technology and Services, Computer Software and Marketing and Advertising.
Company Size
According to customer reviews, most common company size is 51-200 employees with a share of 40%. The median share this company size is 19%. The most common company size that uses any solution category is 1-10 employees.