Top 10 Accounts Payable Solution Companies - 2019
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Top 10 Accounts Payable Solution Companies - 2019

Traditionally seen as mere cost center focused on strict processes, the accounts payable (AP) industry is currently unlocking the opportunity to reflect and assess areas with the potential to transform the manner in which AP teams operate in organizations. For one, AP automation is gaining steam. In the current fast-moving climate of the market, firms need to automate their payment processes not only for time savings and data accuracy but also for contactless invoice processing and profound data insights that accomplish better financial control and cost-cutting. Organizations are also embracing multi-cloud strategies to share and back up sensitive documents, emails and other applications, and also mitigate cyber-attacks and maximize security.

Considering the changing times, CFO Tech Outlook has compiled a list of top 10 accounts payable solution providers to guide organizations in harnessing the power of technology. We are glad to feature Basware on our annual list of accounts payable solution providers. Basware offers best-in-class e-invoicing solutions in an attempt to connect suppliers with consumers via cost-effective ease of use e-invoicing, thereby bridging the gap between accounts payable and receivable systems. This edition enlists EML, a payment processing company facilitating instant, secure payment solutions irrespective of location and time.

The list comprises INTEGRIM, which offers flexible end-to-end cloud-based platform, SenSaaS, to enable firms to achieve unprecedented efficiency by eliminating paperwork and reducing transactional errors. On the other hand, OnPay Solutions is on its way to revolutionizing accounts payable and receivable processes with the aid of its bank-level data security capabilities. For Professional Implementation Consulting Services (PICS), however, the trick lies in its ability to automate labor-intensive and error-prone accounts payable processes.

With several innovative technological capabilities and success stories up their sleeves, these solution providers are constantly proving their mettle in the accounts payable industry.

We present to you CFO Tech Outlook’s “Top 10 Accounts Payable Solution Providers - 2019.”

Top Accounts Payable Solution Companies

AvidXchange

AvidXchange

AvidXchange is the industry leader in automating invoice and payment processes for mid-market businesses. Founded in the year 2000, AvidXchange processed 9.5 million payments in 2018 across its network of more than 500,000 suppliers, transforming the way 5,500 customers in North America pay their bills. AvidXchange is distinguished as a global FinTech unicorn and one of the fastest-growing technology companies in the U.S. with 1,300 employees in seven office locations. Some of the solutions that AvidXchange offers are invoice management, payables automation, industry leader, electronic invoicing, accounts payable, accounting, visibility, best practices, portfolio, automation, paperless, change management, workflow, AP, payables process, and AP automation

www.avidxchange.com

Basware

Basware

Basware is the global leader in providing networked source-to-pay solutions, e-invoicing, and value-added services. The enterprise’s commerce and financing network connects businesses in over 100 countries and territories around the globe. Purchase-to-Pay, invoice automation, procurement, financial automation, e-invoicing, travel & expense management, supplier collaboration, accounts payable automation, b2b transactions, and financing services are some of the solutions that the business offers. As one of the largest open business network in the world, Basware provides scale and reach for organizations of all sizes, enabling them to grow their business and unlock value across their operations by simplifying and streamlining financial processes. Small and large companies around the world achieve significant cost savings, more flexible payment terms, greater efficiencies, and closer relationships with their suppliers

www.basware.com

Comdata

Comdata

For over 45 years, Comdata has been a leading provider of innovative B2B payment and operating technology. By combining their unique capabilities in technology development, credit card issuing, transaction processing, and network ownership, the business helps its clients build electronic payment programs that positively impact their bottom line and operate their businesses more efficiently. Comdata continuously evolves its products by focusing on customer’s needs to provide security, accessibility, and profitability. The enterprise's offerings include payment processing, virtual payment card, corporate card, a fuel card, pay cards, prepaid debit card, fleet card, Regulatory Compliance (Transportation), and Point-of-sale

www.comdata.com

EML

EML

With payment solutions from EML, organizations will be empowered with more control, transparency, and flexibility over the payment processes. Whether organizations serve businesses or consumers, the enterprise makes the payment process more efficient and secure from start to finish, while helping clients improve customer service and increase brand loyalty. EML’s portfolio offers innovative payment technology solutions for payouts, gifts, incentives and rewards, and supplier payments. The business also issues mobile, virtual and physical card solutions to some of the largest corporate brands around the world, process billions of dollars in payments each year, and manage more than 1,100 programs across North America, Europe, and Australia

www.emlpayments.com

INTEGRIM

INTEGRIM

Having been in the business automation space for over 27 years, INTEGRIM is at the forefront of offering a comprehensive range of business process automation services and solutions for all manner of paper and electronic documents. The company has supported businesses and organizations with digital business processing and management of corporate documents through the creation of connections to various ERP (Enterprise Resource Planning). Through SenSaaS, an end-to-end cloud-based platform, INTEGRIM helps companies achieve the highest level of efficiency, trim costs, and eliminate paper while enhancing the productivity of administrative resources and a great ROI (Return On Investment

www.integrim.com

OnPay Solutions

OnPay Solutions

OnPay Solutions automates, streamlines, and optimizes accounts payable payments and processes. The company's bank-level data security eliminates risks of fraud and data breach. OnPay's accounts payable platform guarantees immediate ROI. Companies can now pay vendors, receive payments, collect payment remittance information, and automate invoices all within the OnPay software environment. OnPay collects revenue each time a user sends a payment, receives remittance information or generates an automated invoice. OnPay's platform streamlines manual processes like snail-mailed paper checks and invoice spreadsheets, reduces costs and allows companies to keep control of their funds and vendor relationships

www.onpaysolutions.com

PICS

PICS

DocLib by PICS helps you manage the thousands of documents that your organization encounters every day. In many instances, these documents are the start of an outdated, insecure, manual business process including Accounts Payable (AP). DocLib automates the entire AP process, reduces labor costs, streamlines manual business processes and reconciles invoices to purchase orders. Besides Accounts Payable, every department can benefit including Sales, Marketing, Finance, Operations, Legal, and HR. Invoicing and accounts receivable, procurement, expense management, and product change documentation no longer need to be manual processes. We can help you automate your entire system or just the processes that you are ready to change. With over 24 years’ experience implementing complex business systems and with DocLib implementations in 17 countries and over 5,500 end users, our software is proven to be easy to implement and customizable to your needs. Let us help you remove manual processes to reduce costs and improve efficiencies in all areas of your organization

www.doclib.net

MineralTree

MineralTree

Headquartered in Cambridge, MA, MineralTree streamlines AP, giving customers unparalleled visibility and significant cost savings in an affordable, integrated platform that is guaranteed secure. MineralTree provides the easiest to use Accounts Payable (AP) and Payment Automation solutions for finance professionals. MineralTree is a privately held company founded in 2010 and deals with payments, security, AP automation, business payments, accounts payable, payment automation, invoice automation, payment platform, accounting applications. MineralTree’s AP and payments customers come from more than 1,000 mid-market companies, non-profits and accounting firms across a wide range of industries. Customers of the company include technology/software, healthcare/pharmaceuticals/biotechnology, consulting, food/beverage/hospitality, manufacturing, energy, media, retail and services

Procurify

Procurify

Established in 2012 Procurify is specialized in Procurement Process Management, Purchase Order Approval Workflow, Streamlined Purchasing Processes, Requester & Approver Management, Procure to Pay Cycle, Organization Spend Management, Budget Management, Real-time Spend Reporting, and Spend Management. A private company Procurify is a cloud-based procurement software solution that gives you control and visibility. Their main goal is to help the company to generate cost savings. With seven years of experience, the company is supporting spend culture across several industries like aviation, education, biotech, marketing, healthcare, technology, pharma, construction, hospitality, manufacturing, non-profits and many others

Sage [LSE: SGE]

Sage [LSE: SGE]

Sage Lawrenceville energize the success of businesses and communities around the world through the imagination of their people and smart technology. Sage provides every sized organization with a range of easy-to-use, online and cloud business management software and services - from accounting and payroll to enterprise resource planning, customer relationship management and payments. The company provides Business Software, Business Intelligence, Accounting, Payroll, Payment Solutions, Human Resources, Enterprise, Accountants, Accounting Software, Sage Foundation, Computer Software, Information Technology, People Management, Sage Business Cloud, Sage Software, Payroll Software, Cloud Accounting, Cloud Software , HR Software, EPR, and Software Applications