Top Accounts Payable Solutions Companies

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Top 10 Accounts Payable Solutions Companies - 2023

Effective management of accounts payable (AP) is vital for the long-term success of any modern business. Managing AP goes beyond routine bookkeeping; it plays a strategic role. Adept AP management enhances accuracy, expedites invoice processing, and provides valuable insights for optimizing supplier payment timing and terms. Businesses that leverage AP management optimize their financial health and supplier relationships. Those who prioritize and excel in this aspect experience smoother operations, cost savings, and greater efficiency, leading to business growth and success.

According to market research, the accounts payable market is projected to expand from USD 1.22 bn in 2023 to USD 2.79 bn by 2032, at a CAGR of 10.90 percent. The digital revolution is a major factor driving this growth, reshaping how businesses and consumers interact. The increasing adoption of AI in AP processes is one of the main drivers of this market. AI is instrumental in automating invoice processing and fraud detection, streamlining operations, and enhancing efficiency. With features like separate roles, dual-factor authentication, and robust auditing capabilities, AP automation offers enhanced payment controls. Digital solutions are increasingly used for payment processing and invoice management to reduce invoice processing times and digitize payment processes. Finance leaders recognize the pivotal role of AP automation, making it a top priority for investment in automation.

This CFO Tech Outlook edition highlights key developments in the Accounts Payable 2023 space through thought leadership articles from Brad Agee, Vice President- Accounts Receivable Manager, Amegy Bank, and Michael McCoy, CFO, B. Riley Financial.

Brad Agee discusses accounts receivable financing as a way to increase cash flow by selling outstanding invoices to a third party for immediate cash. Michael McCoy addresses the Financial Accounting Standards Board's (FASB) framework for fair value measurements and defines fair value as the price in an orderly transaction between market participants.

This edition spotlights DocuPhase, a company dedicated to providing intelligent financial solutions to streamline and automate back-office operations, offering predictability and efficiency in financial processes. In this edition featuring Top Accounts Payable Solutions Providers in 2023, we hope you find the appropriate company suited to your business requirements.

 Let us know your thoughts.

    Top Accounts Payable Solutions Companies

  • DocuPhase
    DocuPhase

    DocuPhase offers a comprehensive suite of intelligent financial solutions that create predictability, visibility, and efficiency. Its solutions, including financial document management, invoice capture, forms & workflows, AP automation, and payments, are designed to optimize and automate back-office operations, allowing financial professionals to drive sustainable growth.

    www.docuphase.com

  • AP Matching
    AP Matching

    AP Matching specializes in aiding accounts payable departments to proactively detect and rectify errors like missing invoices, duplicates, miss-postings, and data inaccuracies. This leads to improved payment efficiency, minimized supplier inquiries, and enhanced financial accuracy, bolstering businesses’ bottom line.

    www.apmatching.com

  • PathQuest
    PathQuest

    PathQuest AP is a smart accounts payable automation solution that helps simplify and collaborate accounts payable documentation, communication and purchase order system on a one single platform. Thus, it enables best control and visibility over business expenses while getting rid of any late, duplicate, and fraudulent payments.

    pathquest.com

  • yooz

    yooz

    Yooz provides the smartest, most powerful and easiest-to-use cloud-based E-invoicing and Purchase-to-Pay (P2P) automation solution. It delivers unmatched savings, speed and security with affordable zero-risk subscriptions to more than 5,000 customers and 300,000 users worldwide.

  • Bottomline Technologies

    Bottomline Technologies

    Bottomline Technologies, a worldwide leader, simplifies and secures complex business payments for thousands of companies in 92 countries. They cultivate innovation, collaboration, and personal growth to surpass customer expectations, guided by their principles.

  • Corpay

    Corpay

    Corpay, a global payments leader, aids companies in expense tracking, management, and payments. They offer a suite of online payment solutions, including Bill Payment, AP Automation, Cross-Border Payments, Currency Risk Management, and Commercial Card Programs. As North America's largest commercial issuer of Mastercard, Corpay handles over three billion transactions annually and is under the FLEETCOR (NYSE: FLT) brand portfolio.

  • EZ Cloud

    EZ Cloud

    EZ Cloud offers a cutting-edge and fortified Accounts Payable (AP) automation platform that consolidates AP communication, invoice data, and up-to-the-minute analytics within a user-friendly portal. Seamlessly harmonizing with current workflows, EZ Cloud leverages state-of-the-art technology to provide AP and finance professionals with heightened transparency, responsibility, and management capabilities.

  • Intuit

    Intuit

    Intuit, a worldwide technology platform, stands steadfast in assisting its customers and communities in conquering their most pressing financial hurdles. With a global reach, Intuit empowers millions of customers through an array of essential tools, including TurboTax, QuickBooks, Credit Karma, and Mailchimp.

  • Shamrock Solutions

    Shamrock Solutions

    Shamrock Solutions is a go-to partner for a diverse array of financial department solutions, catering to accounts payables, accounts receivables, and remittance processing. These versatile solutions tackle a wide spectrum of tasks, encompassing invoice processing, audit management, account initiation, expense reporting, payment alternatives, customer interaction, and order entry.

  • Xero

    Xero

    Xero, the worldwide small business hub, boasts a staggering 3.5 million subscribers. Within its realm, it offers a central accounting solution, payroll management, workforce oversight, expense tracking, and project management. Xero further extends its influence through a vast network of integrated applications and established links to financial institutions.