Top 10 Accounts Payable Solution Providers - 2018
Procurify: Building Proactive Spend Cultures

Top 10 Accounts Payable Solution Providers - 2018

Accounts payable (AP) is one of the most critical parts of any company as the complete profitability of the company relies upon it. Today, there has been a tremendous shift in the way accounts department operates, owing to the various technological up gradations. Accounting executives are opting for AP automation to get insights into the complete supply chain of the business, identifying growth trends and increasing efficiency and productivity by saving time and costs. With AP Automation, executives now have complete transparency of data to make accurate financial forecasting and budgeting decisions, reduce bottlenecks, and build strong customer relationship.

With the growing technological convergence, cloud-based AP automation has also made the accounts payable process much easier. The cloud-based systems can easily be integrated with the existing ERP system and reduce the time consuming manual work. Apart from AP automation, Artificial Intelligence (AI) and Chatbots have also contributed to optimizing the accounting process. With the new AI-powered invoice management systems, accounting professionals can now streamline the whole invoice processing. AI-powered chatbots are being used to solve all the account related queries of the customers in a much faster and efficient way. Similarly, Robotic Process Automation (RPA) coupled with machine learning have orchestrated enterprise operations, freeing AP staff to be more proactive and forward thinking on important issues like cash flows and fraud. Another benefit is that the work done by software robotics can be relegated to off hours for the tasks to be completed overnight.

To help all the accounting executives to adopt these accounts payable software for more feasible work, our distinguished panel comprising of eminent CEOs, CIOs, VCs and analysts, along with CFO Tech Outlook’s editorial board has assessed several AP automation service providers and shortlisted the best in the field.

We provide to you “Top 10 Accounts Payable Solution Providers- 2018.”

Top Accounts Payable solution companies

The accounts payable solution provider, Accrualify is a robust platform developed for enterprise-level accounting teams that function on the accrual method of accounting. Accrualify Purchaser saves the accounting department’s time and frustration by automating month/quarter-end accrual processes. They automatically tie in vendors to specific purchase orders, mass request accrual estimates, and invoices, manage purchase orders and send invoice payments all through a single platform. The mission at Accrualify is to leverage AI and ML to address the many pain points corporate finance organizations face daily

www.accrualify.com

Artsyl, the accounts payable solution provider, develops Smart Process Technology to Power Process Improvement. Smart Process Technology reduces business process costs, improves data accuracy, speeds workflows, integrates data with applications, enhances visibility, and ensures compliance. Artsyl has been solving complex customer business process problems with its robust, flexible, and intuitive technology. Global companies like World Vision rely on Artsyl to improve their operations. With powerful features such as Multi-Channel Capture, Automated Document Classification, Advanced OCR Extraction, Text Recognition, Rules-Based Validation, Approvals/Escalations, Notifications, and Data Integration Artsyl can streamline virtually any business process

www.artsyltech.com

AvidXchange revolutionizes the way companies pay their bills. It is an industry leader in automating invoice and payment processes for midmarket companies spanning multiple industries including Real Estate, Financial Services, Energy, Nonprofit, and Construction. When accounts payable processes are paper-based companies waste their time chasing approvals, cutting checks, and answering inquiry calls from vendors. AvidXchange gives them the power to automate manual tasks and spend your time doing more valuable tasks. The company was recognized as one of the 50 fastest-growing private companies in the Charlotte area for four consecutive years

www.avidxchange.com

For over 45 years, Comdata has been a leading provider of innovative B2B payment and operating technology. They combine the unique capabilities in technology development, credit card issuing, transaction processing, and network ownership. The combination helps the clients to build electronic payment programs that positively impact their bottom line and operate their businesses more efficiently. The company continuously evolves the products by focusing on their customer’s needs to provide security, accessibility, and profitability. As a division of FleetCor Technologies, Comdata is part of one of the largest payment companies in the world

www.comdata.com

EML

EML

With payment solutions from EML, companies can empower with more control, transparency, and flexibility over the payment processes. EML makes the payment process more efficient and secure from start to finish while helping to improve customer service and increase brand loyalty. The company’s portfolio offers innovative payment technology solutions for payouts, gifts, incentives and rewards, and supplier payments. They issue 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

As an accounts payable solution provider, OnPay Solutions automates, streamlines, and optimizes client’s accounts payable payments and processes. Their bank-level data security eliminates risks of fraud and data breach. Their accounts payable platform guarantees immediate ROI. With a single file upload, the company securely automates all the payments such as checks, ACH, wire transfers, and virtual cards. OnPay Solutions have a clear, transparent, and comprehensive, 4-tier pricing structure based on the volume of remittance lines. It allows users to create an account and start using our invoice clearing automation platform within minutes

www.onpaysolutions.com

P2D

P2D

P2D is a unique business services company specializing in document solutions that turn ‘paper to data.’ It is a UK-based business services company specializing in digitizing and exchanging commercial documents electronically such as invoices, purchase orders, and expense claims. The company performs by automating conventional business processes with a secure, HMRC, and tax compliant service. P2D customers can reduce cost, enhance profitability, increase efficiency, ensure compliance, optimize IT, and be sympathetic to the environment. The company’s solutions are entirely web-based and are provided to their customers on pay for usage basis allowing flexibility and control

p2dgroup.net

The vision at Procurify is to reinvent the way organizations spend. They strive to achieve the vision by helping companies and organizations across the world get more from their spending. The company works with organizations by assisting them in understanding and aligning their organizational spending with their core values and business objectives. They give ample amount of dedication to the customer experience through quality features, user-experience, and customer success. Clients receive personal and professional growth across all aspects of Procurify’s business. They continuously challenge destructive and unsustainable business practices to stand firm as an accounts payable solution provider

www.procurify.com

Sciomagis is a company that specializes in providing information business solutions as well as developing and maintaining custom information systems. Their expert competencies are in the field of document and process management systems. They have provided solutions in archiving, accounts payable, sales automation, client relationship management, and other areas. One of their products, Sky.Flow helps the client, business processes with the dynamic, no-coding platform. It enables them to create workflows, data, forms, and all other related properties of the business process and run them immediately using a simple and modern web interface

sciomagis.com

Corcentric

Corcentric

Corcentric is a leading provider of procurement and finance solutions that transform how companies purchase, pay, and get paid. Corcentric’s procurement accounts payable and accounts receivable solutions empower companies to spend smarter, optimize cash flow, and drive profitability. The company was named as one of the ’50 Providers to Know’ of 2019 by Spend Matters and a leader in IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Payable Automation 2019. Since 1996, more than 6,000 customers from the middle market to Fortune 1000 have used Corcentric to reduce costs and improve working capital