Top Invoice Processing Automation Software in 2024
Accounts payable software encompasses tools that capture, process, and record vendor invoices for transactions and services with trade credit terms. These tools handle approvals, post to the general ledger, match documents, process bill payments, and more. This article explores the best invoice automation software across various categories.
Best Invoice Automation Software in 2024
1. Docsumo
Docsumo is an intelligent document processing solution that extracts data with 99% accuracy from any invoice, regardless of layout. It features a customizable, pre-trained Invoice capture API and enables users to convert extracted data into formats like Excel, JSON, CSV, and TXT. This seamless integration supports feeding data into databases or third-party software for enhanced efficiency.
Features
- Intelligent data capture and transfer
- Document fraud detection in real-time
- 3-way matching
- Data validation
- Accurate key-value pair and table extraction
- Cloud data protection
Pricing
Three price segments -
- Growth — Starts at $500 per month.
- Business — Contact sales
- Enterprise — Contact sales
Docsumo offers a 14-day free trial. Check it out!
2. ABBYY Flexicapture
ABBYY FlexiCapture is a robust data capture and document processing solution that converts layout documents into business-ready data. It offers paperless document capture, automatic classification, and scalable architecture, streamlining business processes, enhancing efficiency, and reducing costs.
Features
- Data Verification
- Document Imaging
- Forms Management
- Distributed Capture
- CRF Tracking
Pricing
$29.99 a month for 500 pages, with the price proportionally increasing with the number of pages processed monthly.
3. HubSpot Payment
HubSpot’s Payments tool simplifies online transactions with an intuitive interface, enhancing customer experience and driving revenue growth. It integrates seamlessly into HubSpot stores, eliminating third-party plugins, and allows customizable checkouts to match your brand and optimize conversions.
Features
- Automated invoicing
- Customizable checkout
- Seamless integration with Hubspot’s platform
- Multiple payment methods accepted, providing convenience for your customers
- Secure transactions with built-in encryption and industry standards compliance
- Reporting and analytics, helping you make informed business decisions
Pricing
Payments are available as part of the commerce hub subscription. Pricing varies based on the selected plan and the volume of transactions.
4. Xero
Xero is a cloud accounting platform for small and medium businesses, offering accounts payable, vendor payments, bank integration, online payment acceptance, and account reconciliation. Users can track financial metrics, analyze cash flow, file GST returns, and back up documents electronically.
Features
- Simplistic UI provides a clear financial view.
- Seamless accessibility from anywhere.
- Automated daily bank feeds.
- Interactive credit control to manage outstanding sales invoices.
Pricing
Xero offers three pricing segments -
- Early — $11 per month
- Growing — $32 per month
- Established — $62 per month
5. Sage Intacct
Sage Intacct is a cloud-based ERP accounting platform endorsed by the AICPA. It provides accounts payable software with automated workflows and integrates with Salesforce, ensuring seamless data flow between CRMs and financials.
Features
- Approval Process Control
- Cash Management
- Duplicate Payment Alert
- Electronic Funds Transfer
- ACH Payment Processing
Pricing
Ask for price
6. Google Doc AI
Google Doc AI automates document processing with minimal human input, extracting and cleaning data for faster AP, compliance, and efficiency.
Features
- Features ‘Human in the Loop’ AI feedback.
- Specialised parsers for processing invoices, receipts, etc.
- Processes and validates documents from a unified console.
Pricing
Pricing starts at $65 for AP data prediction services and $50 for parsing 1000 pages.
Why Choose Docsumo?
Automate data extraction for invoices, receipts, and various documents using pre-trained APIs and intelligent data parsing rules. It integrates seamlessly with ERP systems, requires no manual setup, supports numerous invoice layouts, and provides excellent customer support. Docsumo adapts to different document templates and unstructured data, enabling faster decision-making through AI-driven insights from the extracted data.
Docsumo offers a 14-day free trial. Check out our blog for all the tools!
