Struggling with time-consuming and error-prone accounts payable processes?
Accounts payable software is your tool for smoother finances and stronger vendor relations. It empowers you to cut costs, boost efficiency, ensure accurate financial tracking, seek scalability, and streamline invoice processing.
Table of Contents
Criteria to Choosing the Best Software Solution
When selecting the right accounts payable software for your business, several key factors should guide your decision.
Let’s explore these criteria:
Features
Consider the specific features offered by the software. Does it include automation capabilities, document management, reporting tools, and integration options with your existing systems?
User-Friendliness
The software should be intuitive and easy for your team to use. Complex software can lead to resistance and inefficiencies.
Scalability
Ensure that the software can accommodate your business’s growth. It should be capable of handling an increased volume of invoices and transactions.
Customer Reviews
Research what other users have to say about the software. Positive customer reviews and testimonials can provide valuable insights into its effectiveness.
Budget
Assess the pricing model of the software and how it aligns with your budget. Be mindful of any hidden costs, such as implementation fees or ongoing support charges.
Compatibility
Ensure that the software integrates seamlessly with your existing accounting and ERP systems. Compatibility issues can lead to data discrepancies and operational disruptions.
Top 10 Accounts Payable Software in 2023
1. KlearStack
KlearStack boasts an impressive 99% accuracy rate and cost savings of up to 70%.
With a hassle-free setup, this OCR software simplifies your tasks, making data extraction effortless from a wide range of formats, including receipts, invoices, bank statements, and more.
Free Trial: No
Features
- Exceptional 99% accuracy with AI-driven OCR.
- Up to 70% cost savings compared to manual entry.
- Quick and hassle-free setup with no templates required.
- Saves thousands of hours of manual effort and costs.
- Versatile data extraction from various document formats.
Pricing
Pricing varies between standard, premium and enterprise plans.
- Standard: 10,000 to 100,000 Pages/Year.
- Premium: 100,000 Pages/Year.
- Enterprise:1 Mn+
Easy setup, cancel anytime. Choose your plan.
User Satisfaction: 5 out of 5
Ready to take control of your invoices?
Unlock 99% Accuracy and 70% Cost Savings!
Schedule a Live Demo Session now!
2. QuickBooks Online
Streamline your small organization’s finances with QuickBooks Online.
This cloud-based accounting software offers seamless integration for accounts payable automation through the QuickBooks Apps Store.
You can also simplify national and global payments with QuickBooks Payments, accepting various methods like credit cards, Apple Pay, and more through Intuit Merchant Services.
Free trial: Yes (30 days)
Pricing
- Simple Start: $106.59/year
- Essentials: $39.43/year
- Plus: $22.68/year
Features
- Track income & expenses
- Send custom invoices & quotes
- Connect your bank
- Track VAT
- Insights & reports
- Capture & organise receipts
- Progress invoicing
- Manage bills & payments
- Track employee time
- Multi-currency
- Recurring transactions and bills
- Track inventory
- Track project profitability
- Manage budgets
- For five users, plus your accountant
User Satisfaction: 4.3 out of 5
3. Sage Intacct
Sage Intacct is a cloud-based ERP accounting solution backed by the AICPA. With automated payables workflows and third-party apps for added efficiency, it’s your go-to choice for streamlined accounts payable. Enjoy real-time tracking, payment views, approvals, and robust reporting features with Sage Intacct.
Free Trial: Yes
Features:
- Dashboard and reporting
- Dimensions
- Intelligent general ledger
- Accounts receivable
- Account payable
- Intelligent GL
Pricing: Custom pricing plans are available.
User Satisfaction: 4.3 out of 5
4. NetSuite
NetSuite, an Oracle-owned ERP cloud-based system, offers diverse business modules. Enhance its capabilities and efficiency with integrated accounts payable automation software. Streamline your accounts payable process seamlessly and efficiently with NetSuite.
Free Trial: Yes (14-days)
Pricing: Custom pricing plans are available.
Features:
- Advanced Manufacturing
- Real-time Analytics
- Dynamic Inventory Management
- Streamlined Order Processing
- Integrated Financial Management
- Comprehensive financial visibility across the business
User Satisfaction: 4.1 out of 5
5. Microsoft Dynamics 365
Microsoft Dynamics ERP offers accounts payable automation solutions across various industries. Users have the flexibility to manually input vendor invoices or receive them electronically, making it a versatile choice for streamlining accounts payable processes.
Free Trial: Yes (30 days)
Pricing:
- Professional: $65/month
- Enterprise: $95/month
- Premium: $135/month
Features:
- Reduce mundane tasks
- Focus on the right customers
- Stay in the flow of work
User Satisfaction: 4.5 out of 5
6. Epicor
Epicor offers both on-premises and cloud ERP solutions tailored for large-scale industries like manufacturing, wholesale, and distribution. With Internet-of-Things capabilities, it’s a valuable asset for supply chain and manufacturing. Epicor ERP includes efficient accounts payable software to streamline financial operations.
Free Trial: Yes (30 days)
Pricing: Begins at $175 per user per month
Features:
- Comprehensive ERP functionality
- Extensive documentation and training available
User Satisfaction: 4.1 out of 5
7. Oracle EPM Cloud
Oracle ERP is a high-end cloud-based software covering diverse business functions. You can enhance its capabilities by integrating with EnterpriseOne software using accounts payable automation software provided by partner company JD Edwards. Streamline your operations seamlessly with Oracle ERP.
Free Trial: Yes (30 days)
Pricing:
- Standard: $250/month
- Enterprise: $500/month
Features:
- Automates compliance with flexibility.
- Empowers in volatile markets.
- Streamlines departments for decisions.
- Simplifies audit trail tasks.
User Satisfaction: 4.6 out of 5
8. SAP
SAP, a cloud-based ERP system for various business processes, is a formidable competitor to ERP Oracle. It features accounts payable automation software tailored for enterprises with larger operational scales. Streamline your accounts payable processes effectively with SAP.
Free Trial: Yes (30 days)
Pricing: Custom pricing plans are available.
Features:
- Order Processing
- Quote Management
- Customer Relationship Management
- Sales Analytics, and
- Forecasting
User Satisfaction: 4.6 out of 5
9. FreshBooks
FreshBooks offers cloud-based accounting software with accounts payable and accounts payment systems, ideal for small and medium-sized enterprises (SMEs). Simplify your financial tasks and streamline payments with ease using FreshBooks.
Free Trial: Yes (30 days)
Pricing:
- Lite: $17 per month or $204 annually.
- Plus: $30 per month or $360 annually.
- Premium: $55 per month or $660 annually.
Features:
- Makes it easy to stay organized
- Keeps track of payments owed and expenses made
- Sends invoices and accept payments
User Satisfaction: 3.5 out of 5
10. Xero
Xero, a cloud accounting software, features built-in accounts payable and vendor payment systems. For enhanced payment capabilities, including global cross-border transactions, Xero seamlessly integrates with the accounts payable add-on, Bill.com. Simplify your finances with Xero’s versatile features.
Free Trial: Yes (30 days)
Pricing:
- Early: $3.25
- Growing: $9.25
- Established: $17.50
Features:
- Send invoices and quotes
- Enter bills
- Reconcile bank transactions
- Capture bills and receipts
- Analytics plus
- Track projects
- Use multiple currencies
- Bulk reconcile transactions
User Satisfaction: 4.1 out of 5
Comparative Analysis and Pricing Model for 10 Accounts Payable Softwares
| Accounts Payable Software | Free Trial | Pricing | Integration |
| KlearStack | No | Starts from 10,000 to 100,000 Pages/Year. | RPA, Quickbooks, API |
| QuickBooks Online | Yes (30 days) | Varied pricing tiers, starting at $106.59/year. | QuickBooks Apps Store with more than 750 apps. |
| Sage Intacct | Yes (30 days) | Custom | Tipalti, Expensify, Yooz, Fortis,Stampli, Emburse,ClickTime, and more. |
| NetSuite | Yes (14 days) | Custom | E-commerce storefronts, Point of sale (POS) systems, Online marketplaces and Third-party logistics providers |
| Microsoft Dynamics 365 | Yes (30 days) | Pricing starts at $65/month. | Facebook Lead Ads, Webhooks by Zapier , HubSpot, Mailchimp, Filter by Zapier, Unbounce, Google Sheets. |
| Epicor | Yes (30 days) | Pricing begins at $175 per user per month. | Shopify, BigCommerce, WooCommerce or Magento website |
| Oracle EPM Cloud | Yes (30 days) | Pricing starts at $250/month | EnterpriseOne software |
| SAP | Yes (30 days) | Custom | Other SAP applications and services |
| FreshBooks | Yes (30 days) | Pricing varies with Lite starting at $17 per month. | Google Drive, PayPal, Slack, Google Workspace, Trello, WordPress, Mailchimp, Salesforce Sales Cloud. |
| Xero | Yes (30 days) | Pricing starts with Early at $3.25. | Hubdoc, Stripe, HubSpot CRM integration, Mailchimp, Microsoft Outlook, Google Contacts, Xero Practice Manager, Shopify. |
Why Choose KlearStack?
KlearStack is considered as the best accounts payable software for its features like 99% accuracy, budget-friendly, and 70% cost saving.
- High Accuracy: KlearStack boasts an impressive 99% accuracy rate with AI-driven OCR.
- Budget-Friendly: KlearStack offers flexible pricing to fit your budget.
- Effortless Setup: Its hassle-free setup saves time and resources.
- Versatile Data Extraction: Extracts data from a wide range of document formats with ease.
- Cost Savings: Can lead to significant cost savings, up to 70%, compared to manual entry.
- No Templates Required: Quick and hassle-free setup with no need for templates.
How to Integrate KlearStack into Your Business?
Here’s a step-by-step guide to integrating KlearStack as your accounts payable software:
Step 1: Assess Your Needs
Begin by evaluating your specific accounts payable requirements. Identify the types of documents you handle and your data sources.
Step 2: Choose a Plan
Select the KlearStack pricing plan that best fits your budget and document volume. Consider your business size and needs.
Step 3: Integration Planning
If you have existing accounting or ERP systems, collaborate with KlearStack’s integration team to ensure a seamless connection. Discuss data transfer and compatibility.
Step 4: Data Input
Start inputting your invoices, receipts, and relevant documents into KlearStack. You can choose between manual entry or automated data capture, depending on your preference.
Step 5: Data Processing
Allow KlearStack’s AI-driven OCR to process and extract data accurately from your documents. Review the extracted data for completeness.
Step 6: Verification and Approval
Verify the accuracy of the extracted data and validate invoices. This step ensures that your payments are error-free.
Step 7: Payment Execution
Utilize the processed data from KlearStack to execute payments to vendors and suppliers. This simplifies the payment process.
Step 8: Reporting and Analytics
Explore KlearStack’s reporting and analytics features to gain insights into your accounts payable operations. Use these insights for decision-making and process optimization.
Conclusion
Ready to take control of your invoices?
Unlock 99% Accuracy and 70% Cost Savings!
Schedule a Live Demo Session now!
FAQs on Accounts Payable Softwares
What is account payable software?
Accounts payable software simplifies invoice processing, automating tasks like data entry, approvals, and payments, streamlining financial operations in organizations. It enhances efficiency and reduces errors.
How much does AP software cost?
AP software costs vary based on features and scalability. Small businesses may pay monthly fees, while larger enterprises may have custom pricing. It’s essential to choose a plan that aligns with your budget.
What is the AP process in ERP?
In ERP, the Accounts Payable (AP) process involves managing vendor invoices, approvals, and payments, ensuring efficient financial operations within an organization. It centralizes financial data for better control.
What is accounts payable automation software?
Accounts payable automation software uses technology like OCR and AI to streamline invoice processing, reducing manual effort, errors, and enhancing efficiency. It revolutionizes how invoices are managed.
What are some of the features of accounts payable automation software?
Key features include automated invoice capture, approval workflows, vendor management, reporting, integration capabilities, and support for various document formats. These features enable end-to-end AP automation.
How much does AP automation cost?
AP automation costs vary based on the provider and the scale of the implementation. It can range from a monthly subscription fee to custom pricing for larger enterprises. The cost depends on your specific requirements.
