What is Invoice Management Software?

Invoice management software is responsible for processing, managing, and paying invoice documents from suppliers and vendors. This software helps to automate the processes of extracting invoice information, verifying and validating the information, approving or processing payments, and securely storing all relevant information either in the cloud, or on the vendors’ servers. It is important to have this data easily accessible for audits, compliance, and forecasting. Invoice management software sometimes provides features of finance and accounting software, including billing, procurement, accounts payable (AP) automation, and accounting software; integration with these other software types is also common. Key Benefits of Invoice Management Software Extracts relevant data from invoices, such as amount due, supplier names, invoice and PO numbers, and due dates Provides standard approval workflows that can be customized by users Consolidates multiple invoices or splits one into multiple invoices Matches invoices with purchases and sales orders as well as with payments Syncs with company accounts to transfer payments for approved invoices Stores invoice files along with approval and payment history

Why Use Invoice Management Software?

Faster invoice processing — Invoice management systems can speed up invoice processing times, reduce accounts payable expenses, and minimize human error. This can lead to lower costs per invoice, improved supplier relations, and fewer vendor payments issues. This can be accomplished by digitizing invoice processing, such as scanning or emailing invoices, and automatically matching purchase orders (POs) to invoices. Quicker approvals — When an invoice is digitized and added to a predetermined workflow, invoice management software can confirm which manager has the authority to approve the payment. This cuts down on wasted time from invoices being sent to supervisors who aren’t authorized to approve them and streamlines the approval process. Real-time reporting — Another value-added feature of invoice management software is its ability for managers to create and view analytical reports for further visibility into the volume of invoices, statuses, and any bottlenecks in the process. These reports can give teams insight into overdue payments, productivity, supplier payment tracking, and audit-related information. Rapid PO reconciliation — Invoice management technology tracks down missing invoices, receipts, shipping orders, etc., making it easier to reconcile multiple invoices, credit memos, and receipts from the same supplier. This software can also flag fraudulent invoices and incorrect pricing. Document capture and storage — This software sometimes allows the user to scan, fax, or take pictures of invoices for documentation and storage. It is helpful to have all documents digitized before any processing takes place, allowing easy access to all stakeholders. Security — Cloud-based invoice management software stores all documents and data in the cloud so everything is accessible from anywhere and data is not lost or misplaced. User access is customizable, ensuring only authorized employees can view confidential documents.

Who Uses Invoice Management Software?

Invoice management software can be used by any employee or team involved with receiving, approving, or paying invoices. This software can also be used by teams associated with items or services that the invoices are referencing. The teams that use this invoice the most are listed below. Accounting/finance departments — Accounting departments usually receive invoices and put them through an approval process, which includes matching the invoice information with the correct sales and purchase orders as well as making the payment. Invoice management software helps this workflow by scanning invoices, analyzing and importing data into the system, and transferring payments electronically. It also eliminates the need for paper records, manual data entry, and mailing checks. Procurement — Procurement teams are involved in purchasing items for their company, and therefore need to be involved with approving POs related to their purchases. Invoice management software helps to reduce the time and effort spent managing tasks such as receiving and matching orders and invoices, making payments and improving relations with vendors. Accounts payable teams — Sometimes part of the accounting team, AP teams are involved in managing invoices and financial transactions between a company and its suppliers. These teams can deal with large volumes of invoices, and invoice management software can assist them in not only monitoring AP processing activities, but also in reducing manual work and avoiding human errors.

Page 2 | Best Invoice Management Software: User Reviews from September 2026

Melio

Melio is a software designed to help businesses of any size streamline B2B accounts payable and accounts receivable payments from a single platform. The software provides vendor payment management, invoice tracking, and cash flow control by leveraging flexible payment methods including bank transfers and cards alongside automated approval and scheduling workflows. It automates reconciliation and payment scheduling and reduces administrative tasks so finance teams can focus on business growth. Melio addresses the operational complexity of managing vendor and customer payments by syncing in real time with QuickBooks and Xero to keep financial records consistently up to date. The software supports scheduled payments, multi-method payment flexibility, and a free 30-day trial period, making it accessible for small businesses managing high volumes of vendor transactions.

Average Rating: 4.4/5.0

Total Reviews: 247

How Do G2 Users Rate Melio?

Has the product been a good partner in doing business?: 8.9/10 (Category avg: 8.9/10)
Accounting: 8.7/10 (Category avg: 8.8/10)
Cashflow: 8.4/10 (Category avg: 8.4/10)
Payments: 8.7/10 (Category avg: 8.8/10)

Who Is the Company Behind Melio?

Seller: Xero
Company Website:
Year Founded: 2006
HQ Location: Wellington
Twitter: @Xero
77,493 Twitter followers
LinkedIn® Page: www.linkedin.com
6,086 employees on LinkedIn®

Who Uses This Product?

Who Uses This: Owner, CEO
Top Industries: Accounting, Marketing and Advertising
Company Size: 93% Small, 6% Medium

What Do G2 Reviewers Say About Melio?

AI-generated summary from verified user reviews

Pros

Users appreciate the convenience and ease of use of Melio, streamlining payments and integrating well with QuickBooks.
Users value the easy payment process of Melio, enjoying the convenience and speed of transactions.
Users enjoy the easy integrations of Melio, simplifying payment processes and enhancing overall efficiency.
Users find Melio's easy setup and integration with QuickBooks Online to be incredibly beneficial for managing payments.
Users find Melio's simplicity in processing vendor payments remarkably efficient and user-friendly for business needs.

Cons

Users experience frustrating delays in payment processing, often waiting over a week for vendors to receive funds.
Users express frustration with Melio's poor customer support, citing lack of resolution and unproductive communication efforts.
Users report payment issues with Melio, highlighting missed transactions and poor customer support without clear resolution.
Users face payment delays with Melio, often experiencing unresolved issues and inadequate communication regarding missing funds.
Users find the high fees associated with Melio cumbersome, especially for businesses with frequent or large transactions.

What Are Recent G2 Reviews of Melio?

"Easy-to-Use Accounts Receivable Tool with Competitive Rates"

Rating: 5.0/5.0 stars

— Ana S.

Best Invoice Management Software - Page 2

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Category Stats (Sep 2026)

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G2 Grid® for Invoice Management Software

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