Leaders

High Performers

Contenders

Niche

Market Presence

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G2 Grid® Scoring

Accounts Payable Automation Software Definition

Companies use accounts payable (AP) automation software to manage large volumes of invoices and financial transactions between a company and its suppliers. While most accounting solutions include AP features, many of them do not provide functionality to manage complex AP processes. Companies choose AP automation software to reduce manual work and avoid human errors. AP automation software is used by accountants and by members of the accounting department responsible for accounts payable. It can also be used by managers and executives to monitor AP processing activities. This type of software simplifies complex AP activities and helps accountants manage large volumes of supplier invoices. AP automation improves the efficiency and the accuracy of the AP department and helps with other accounting activities such as financial closing. AP automation solutions can be delivered as standalone products or as a part of accounting suites that also include AR automation, billing and invoicing, and payment processing features. This type of software is integrated with accounting solutions or with accounting modules of ERP systems.

To qualify for inclusion in the AP Automation category, a product must:

• Deliver customizable workflows to streamline repetitive accounts payable tasks such as data entry
• Include document capture and imaging features to convert paper invoices into electronic documents
• Process large volumes of supplier documents such as invoices or credit memos
• Provide a single repository for users to search and retrieve AP documents
• Match supplier invoices with corresponding purchase orders to accurately track the amounts owed
• Offer approval processes for payments, debits, or any modifications to AP transactions
• Comply with accounting standards and regulations for AP processing
• Integrate with accounting software, ERP, or advanced financial systems such as corporate performance management (CPM)

Mid-Market AP Automation Grid® Scoring Description

• Products in the Leader quadrant are rated highly by G2 users and have substantial Market Presence scores. Leaders include: Sage Intacct, Bill.com, Stampli, Nvoicepay, and DocuWare
• High Performing products have high customer Satisfaction scores and low Market Presence compared to the rest of the category. High Performers include: MineralTree, Beanworks AP Automation, Spendesk, and PaperSave
• Contender products have relatively low customer Satisfaction scores and high Market Presence compared to the rest of the category. While they may have positive reviews, they do not have enough reviews to validate those ratings. Contenders include: AvidXchange
• Niche products have relatively low Satisfaction scores and low Market Presence compared to the rest of the category. While they may have positive reviews, they do not have enough reviews to validate those ratings. Niche products include: Tipalti, Chrome River INVOICE, and Accounting Seed