The top 5 invoice automation software for invoice management

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This eliminates the need for manual data entry and paper-based workflows. Instead of relying on spreadsheets or email chains, you use technology to capture invoices, match them to purchase orders, route them for approval, and schedule payments in one place.

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In short, the benefits of automated invoicing include:

• Time savings: Reduces manual data entry and processing time
• Fewer errors: Minimizes mistakes caused by manual input
• Faster approvals: Streamlines approval workflows to avoid delays
• Better cash flow management: Improves visibility into pending payments
• Audit readiness: Keeps detailed records for internal and external auditors

What features should you look for in invoice management software?

Different invoice management platforms offer different features and functionality. Here are five essential features to look for when evaluating your options:

1. Automated data capture: Modern invoice management software uses optical character recognition (OCR) and artificial intelligence (AI) to pull invoice details like vendor name, invoice number, due date, and amount without manual entry.
2. Three-way matching: Matching invoices with purchase orders and receipts improves accuracy in your financial records and prevents overpayments or fraudulent transactions.
3. Customizable approval workflows: A good solution should allow you to set up rule-based approvals. For example, invoices over a certain dollar amount might require approval from at least two individuals. Or, when the primary approver is on vacation or unavailable, you can designate a backup approver to ensure the business keeps going.
4. Seamless accounting and ERP integration: The software should sync with your accounting platforms, whether you use QuickBooks, Oracle NetSuite, Sage, or Xero. Integrations keep your financial records accurate and up to date.
5. Automated payment scheduling and processing: Built-in payment capabilities help you schedule payments, issue ACH or virtual card payments, and manage cash flow.

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With these features in mind, let’s dive into the top invoice management software options.

1. Ramp

Ramp is a modern AP automation platform designed to help businesses manage invoices, payments, and expenses efficiently. Its invoice automation features integrate within our AP solution, so you can capture, approve, and pay invoices seamlessly.

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Of course, we’re slightly biased, but you don’t have to take our word for it. Ramp has 4.8 out of 5 stars on G2, and customers praise our ease of use, customer service, and various features.

Key features

• AI-powered invoice capture automatically extracts key invoice details, eliminating the need for manual entry
• Customizable approval rules route invoices to the right team members for faster approval
• Seamlessly syncs with QuickBooks, NetSuite, Sage, Xero, and other popular accounting software platforms for real-time financial reporting
• Supports multiple payment types, including ACH, checks, virtual card payments, along with multi-currency support
• Flags duplicate invoices and potential fraud risks before you make payments
• Provides detailed reporting and analytics to track invoices in real time and optimize cash flow

Why customers choose Ramp

• Cost savings: Unlike competitors that charge per invoice or user, all your finance team members can use Ramp’s bill pay solution without charge for domestic payments.
• Unified accounts payable platform: You can organize invoices, manage payments, and use corporate cards from a single dashboard.
• Fast invoice processing: AI and automation reduce the time spent on manual invoice entry and approvals and help you avoid late fees, overpayments, and duplicate invoices.

Serviceable markets

Ramp serves a wide range of businesses, from startups to small and mid-market companies. Ramp also offers AP solutions for enterprises.

Pricing

Ramp’s unlimited free plan helps you automate invoices, set up basic approval workflows, and pay bills by ACH, card, check, and more. For finance teams with more complex operations, Ramp Plus plan is $15 per user, per month. A quote for Enterprise plans are also available.

2. FreshBooks

FreshBooks is cloud-based accounting invoicing software for self-employed people, freelancers, and small businesses. Its platform connects to your business bank account to track and automatically categorize transactions.

Key features

• Customizable invoice templates let you create professional-looking invoices with branded designs and custom fields
• Set up automated recurring invoices to send on a schedule
• Configure automatic reminders and apply late fees to overdue invoices
• Accept payments via debit or credit card, bank transfers, PayPal, Stripe, Apple Pay and Google Pay

Why customers choose FreshBooks

FreshBooks is a good option for freelancers and solopreneurs who need an easy-to-use solution for sending invoices and tracking expenses. Its user-friendly interface and basic automation features help customers streamline invoicing without a steep learning curve.

Serviceable markets

FreshBooks focuses on freelancers and service-based small business owners who need an all-in-one invoicing and accounting solution.

Pricing

FreshBooks offers tiered pricing plans based on the number of billable clients you have, starting at $19 per month for basic invoicing of up to five clients. Higher-tier plans have more advanced features and reporting options.

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3. SAP Concur

SAP Concur is a comprehensive spend management platform that can help you automate invoice processing, expense management, and travel bookings. Its invoice management software streamlines the accounts payable process, from invoice capture to approvals and payments. 

Key features

• Uses OCR and AI to scan invoices, extract data, and categorize expenses automatically
• Matches invoices to purchase orders and receipts to prevent overpayments and fraud
• Supports multiple currencies for international operations
• Connects with SAP, NetSuite, QuickBooks, and other ERP systems

Why customers choose SAP Concur

SAP Concur is best suited for mid-sized to large enterprises that need a scalable invoice management solution. Companies with complex approval processes, global operations, and strict compliance needs can benefit from SAP Concur’s automation capabilities and integrations with ERP systems.

Serviceable markets

SAP Concur serves mid-market and enterprise businesses across industries, including healthcare, education, manufacturing, and global corporations with multi-entity operations.

Pricing

SAP Concur customizes pricing based on business size, features and service needs. You must request a quote to receive tailored pricing.

4. Stampli

Stampli is accounts payable automation software designed to simplify invoice management by facilitating collaboration between finance teams and approvers. Unlike many other invoice management solutions, Stampli focuses heavily on communication, allowing teams to discuss and resolve invoice issues directly within the platform. 

Key features

• Uses AI to extract invoice data and suggest general ledger codes for faster processing
• Built-in communication tools allow teams to discuss invoices and resolve issues in one place
• Automates routing based on company policies and approval hierarchies
• Matches invoices with purchase orders and receipts to prevent duplicate payments

Why customers choose Stampli

Stampli is a good pick for finance teams that want an interactive AP solution with strong collaboration features. It can speed up invoice approvals while preventing errors and reducing the back-and-forth over email.

Serviceable markets

Stampli serves mid-sized to large businesses across industries, particularly those needing custom workflows and multi-user collaboration in their invoice management processes.

Pricing

Stampli offers custom pricing based on company size, invoice volume, and feature requirements. You must request a quote to get pricing details.

5. BILL AP/AR

BILL AP/AR is an accounts payable and accounts receivable platform designed to help businesses streamline processing invoices, bill payments, and cash flow management. Its AI-powered features and integrations with accounting software platforms make it a good option for finance teams handling high volumes of transactions.

Key features

• Uses AI and machine learning to scan and input invoice details
• Customizable approval routing helps review and approve invoices efficiently
• Supports payments via ACH, check, virtual card, and international wire transfers
• Syncs with ERPs like QuickBooks, NetSuite, Zero, and Sage Intacct

Why customers choose BILL AP/AR

BILL AP/AR is best suited to mid-size businesses and growing companies that need a scalable, automation-driven AP/AR solution.

Serviceable markets

BILL serves small to mid-sized businesses that need an end-to-end AP and AR automation solution.

Pricing

BILL AP/AR offers tiered pricing starting at $45 per user per month for AP and AR automation, with higher tier plans including advanced automation, payments, and accounting integrations.

Automate your invoice process with Ramp

Manual invoice processing is time-consuming, prone to errors, and can impede cash flow. That’s why modern businesses use invoice management software that eliminates data entry, speeds up approvals, prevents duplicate payments, and integrates seamlessly with their accounting software.

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Ramp is an excellent platform for invoice automation because it combines AI-powered invoice capture, automated approvals, and seamless vendor payments within a single, cost-effective AP solution. Unlike many competitors, Ramp offers a free version to get you started automating invoices to save time, reduce costs, and get better visibility into your finances.

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If you’re looking for a smarter way to manage vendor invoices, try Ramp's invoice management software and experience a faster, more efficient accounts payable process.