[ Approva... Reviews ](https://www.g2.com/products/approvalmax/reviews) [ Approva... Reviews ](https://www.g2.com/products/approvalmax/reviews) # ApprovalMax Features ##### ## Data Management (5) Consolidation Consolidate information from multiple sources or multiple entities Classification Classify information by category, supplier, or supplier External Sources Integrate with external sources for market intelligence Integration Integrates with ERP systems general ledgers for transfering of AP transaction data Cleaning Ability to cleanse and consolidate AP data Show More ##### ## Analytics (11) Benchmarking Provide benchmarking options for comparison with peers KPIs Include standard spending KPIs that can be customized Compliance Deliver reports for compliance purposes Errors Analysis that identifies errors in AP processes such as duplicate payments, anomalies, and fraud Due Dates Track invoices based on due dates to identify overdue payments Benchmarking Ability to compare AP automation metrics with other companies KPIs Monitor KPIs such as time to process an invoice or erroneous payments Due Dates Track invoices based on due dates to identify overdue payments Cashflow Analyze variations between incoming and outgoing cash KPIs Monitor KPIs such as time to process an invoice or erroneous payments Payment Tracking Track different types of payment such as deposits or partial payments Show More ##### ## Invoice Management (3) Capture Provide features to capture invoices such as import or scanning Supplier Portal Allow suppliers to submit invoices using an online portal Repository Deliver a central repository of AP documents, such as POs and invoices Show More ##### ## Invoice Processing (8) Matching Ability to match AP invoices to POs, contracts, or payments Payments Identify incomplete or late supplier payments Workflows Include workflows for approvals and invoice processing Tax Compliance Comply with local and global tax regulations for collections Approvals Include workflows for approvals of invoices or payments Batch Processing Process multiple invoices without human intervention Consolidation Allow users to consolidate multiple invoices into one Match Invoices Match invoices with purchases and sales orders, as well as with payments Show More ##### ## Integration (7) Accounting Provide integration with accounting and financial management software Payment Integration Integrate with payment gateways and enterprise payments software ERP Deliver integrations with accounting modules of ERP systems Accounting Provide integration with accounting and financial management software Payments Integrate with payment gateways and enterprise payments software ERP Deliver integrations with accounting modules of ERP systems Account Sync Sync with company accounts to transfer payments for approved invoices Show More ##### ## Invoice Generation (3) Templates Provide standard invoice templates that can be customized by users Digital Invoices Ability to convert invoices to digital formats such as PDF Recurring Invoices Automatically generates invoices at pre-defined time intervals Show More ##### ## Risk (3) Analysis Reduces future risks through root cause analysis and process improvement Identification Reduces frequency of errors, identifies risk and improves efficiency Scoring Scores suppliers and employees based on risk factors Show More ##### ## Recovery (4) Recoup Identifies and recoups funds and prevents errors from happening again Reporting Offers reporting to aid in minimizing future lost profits and process breakdown Historical payments Approve, reject, or query historical payment transactions to identify anomalies Overpayments Recover overpayments, duplicate payments, or unused credits from suppliers Show More ##### ## Audit (4) Filters Includes a library of audit-tested filters to identify AP outliers that are outside company policy Post Audits Conducts a post-audit analysis of large volumes of data to identify historical payment errors and automatically generate claims Overpayments Detects and prevents a wide range of overpayment errors Duplicates Detects and prevents a wide range of duplicate payments Show More ##### ## Fraud (3) Vendor Checks Enables automatic checks of new vendors being set up in the system to combat potential billing schemes Data Generation Generates comprehensive data needed to conduct a thorough investigation Monitoring Provides continuous, proactive fraud monitoring across multiple systems and data formats Show More ##### ## AP Data Processing (3) Workflows Constantly evaluate AP transactions to optimize workflows Transparency Improves management oversight by reconciling external data against internal transaction data Controls Strengthens process controls by using analysis to proactively reduce errors before they happen and detect fraud risk Show More ##### ## Operating System (3) PC Operating System Supports Microsoft Windows operating system Mac Operating System Supports macOS operating system Linux Operating System Supports Linux operating system Show More ##### ## Document Processing (5) File Type Supports a variety of file types (E.g. DOC, XLS, PPT, PDF, JPG, PS, TIFF, etc.) Data Extraction Processes data from unstructured and semistructured data sources Mobile Capability Allows for mobile upload of documents and images Intelligent Processing Provides AI and machine learning tools to accelerate data analysis Image Enhancement Provides image enhancement before processing (E.g. rotation, image cropping, removing noise, enhancing contrast, etc.) Show More ##### ## Platform Additional Functionality (3) Integration Integrates with other applications to support document storage, document management, process automation and/or workflow management File Conversion Supports the conversion of uploaded documents to other file types Windows and Mac Supports operations on both Windows and Mac Show More ##### ## Reporting (3) Status Reports on the status of invoices or payments Customer Credit Run reports on customer credit History Tracks all transactions, from issuing invoices to payment reminders to receiving payment Show More ##### ## Integrations (3) Accounting Integrates with accounting or similar platforms ERP Integrates with ERP systems CPM Integrates with Corporate Performance Management platforms Show More ##### ## Transactions (3) Credits Manages credit limits based on customer credit scores, payment history, or other financial metrics Invoices Creates or imports invoices Payments Collects different payment types and manages payment terms Show More ##### ## Workflows (2) Approvals Offers customizable approval processes for all types of transactions Reconciliation Reconciles payments to invoices to ensure matching Show More ##### ## Agentic AI - Accounts Payable (AP) and Spend Analysis (1) Decision Making Makes informed choices based on available data and objectives Show More ##### ## Agentic AI - OCR (1) Autonomous Task Execution Capability to perform complex tasks without constant human input Show More ##### ## Agentic AI - Invoice Management (3) Cross-system Integration Works across multiple software systems or databases Adaptive Learning Improves performance based on feedback and experience Proactive Assistance Anticipates needs and offers suggestions without prompting Show More ##### ## Agentic AI - AP Automation (3) Autonomous Task Execution Capability to perform complex tasks without constant human input Proactive Assistance Anticipates needs and offers suggestions without prompting Decision Making Makes informed choices based on available data and objectives Show More ##### ## Agentic AI - Accounts Receivable Automation (1) Autonomous Task Execution Capability to perform complex tasks without constant human input Show More ##### ## AI - Accounts Receivable (3) Generative Sends automated messages and reminders, resolves disputes, or does proactive outreach. Responses Responds to basic questions from inbound emails. Predictive Analytics Analyzes past transactions to make a prediction of when future payments are likely to be paid. Show More ## Top-Rated Alternatives [ ![BILL AP/AR](https://images.g2crowd.com/uploads/product/hd_favicon/5732d9e5c8486308f5159e2ec584bcfb/bill-ap-ar.svg "BILL AP/AR") BILL AP/AR 4.4/5(1,809) ](https://www.g2.com/products/bill-ap-ar/reviews) [ ![Tipalti](https://images.g2crowd.com/uploads/product/hd_favicon/8b734965fa74873a977ac575367958dd/tipalti.svg "Tipalti") Tipalti 4.5/5(417) ](https://www.g2.com/products/tipalti/reviews) [ ![Coupa](https://images.g2crowd.com/uploads/product/hd_favicon/50cb69ef8557af98812aefcdf08a77fb/coupa-software-coupa.svg "Coupa") Coupa 4.2/5(569) ](https://www.g2.com/products/coupa-software-coupa/reviews) [ View All Alternatives ](https://www.g2.com/products/approvalmax/competitors/alternatives) ApprovalMax Comparisons ![Product Avatar Image](https://images.g2crowd.com/uploads/product/image/small_square/small_square_6017dd7c5b4c458510fe509e42082d95/lightyear.png "Product Avatar Image") Lightyear 5/5(15) [ Compare Now ](https://www.g2.com/compare/approvalmax-vs-lightyear) ##### Categories on G2 [ AP Automation ](https://www.g2.com/categories/ap-automation)[ Invoice Management ](https://www.g2.com/categories/invoice-management)[ Accounts Receivable ](https://www.g2.com/categories/accounts-receivable) [ Procurement Spend Analysis ](https://www.g2.com/categories/procurement-spend-analysis)[ OCR ](https://www.g2.com/categories/ocr) Show More ##### Explore More [ What's the best low-code platform for custom app creation ](https://www.g2.com/discussions/what-s-the-best-low-code-platform-for-custom-app-creation)[ Which cloud security monitoring platforms help you catch and remediate issues before they turn into actual threats rather than alerting after the fact? ](https://www.g2.com/discussions/which-cloud-security-monitoring-platforms-help-you-catch-and-remediate-issues-before-they-turn-into-actual-threats-rather-than-alerting-after-the-fact)[ Which feature management tools reduce production risk through instant rollback capabilities when issues arise? ](https://www.g2.com/discussions/which-feature-management-tools-reduce-production-risk-through-instant-rollback-capabilities-when-issues-arise) [ Best SEO platform for boosting e-commerce sites ](https://www.g2.com/discussions/best-seo-platform-for-boosting-e-commerce-sites)[ Which freelance platforms have the strongest talent pool with high user adoption, based on reviews? ](https://www.g2.com/discussions/which-freelance-platforms-have-the-strongest-talent-pool-with-high-user-adoption-based-on-reviews)[ Pros and Cons Details ](https://www.g2.com/products/approvalmax/reviews?qs=pros-and-cons) Show More [ What's the best low-code platform for custom app creation ](https://www.g2.com/discussions/what-s-the-best-low-code-platform-for-custom-app-creation)[ Which cloud security monitoring platforms help you catch and remediate issues before they turn into actual threats rather than alerting after the fact? ](https://www.g2.com/discussions/which-cloud-security-monitoring-platforms-help-you-catch-and-remediate-issues-before-they-turn-into-actual-threats-rather-than-alerting-after-the-fact)[ Which feature management tools reduce production risk through instant rollback capabilities when issues arise? ](https://www.g2.com/discussions/which-feature-management-tools-reduce-production-risk-through-instant-rollback-capabilities-when-issues-arise) [ Best SEO platform for boosting e-commerce sites ](https://www.g2.com/discussions/best-seo-platform-for-boosting-e-commerce-sites)[ Which freelance platforms have the strongest talent pool with high user adoption, based on reviews? ](https://www.g2.com/discussions/which-freelance-platforms-have-the-strongest-talent-pool-with-high-user-adoption-based-on-reviews)[ Pros and Cons Details ](https://www.g2.com/products/approvalmax/reviews?qs=pros-and-cons)