Managing accounts payable might not be the most glamorous part of running a business – but it’s one of the most important. From keeping track of invoices and making sure suppliers get paid on time to managing cash flow and avoiding costly errors, there’s a lot that goes into it.
The good news? You don’t have to do it all manually.
There’s a growing range of smart, easy-to-use tools designed to help businesses streamline every part of the accounts payable process, from invoice automation and payment scheduling to cross-border payments and fraud prevention.
In this article, we’ll run through a mix of accounts payable tools covering different areas of the AP process so you can find the right solutions to save time, cut out admin headaches and keep your finances running smoothly.
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Key takeaways:
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What is accounts payable software?
Accounts payable (AP) software is a category of tools that help businesses manage the money they owe to suppliers and vendors. There are a wide range of different tools out there tailored to different parts of the AP process.
The purpose of accounts payable tools is to help businesses save time, reduce manual errors, improve vendor relationships and gain better control over cash flow.
Whether you’re looking to automate payments, tighten spend controls or manage international transactions, there’s an accounts payable solution to fit your needs.
In short, if you haven’t explored what AP software can do for your business, now’s a good time to start.
Invoice automation
Invoice automation is an essential category of accounts payable software. It replaces manual, paper-based workflows with digital, automated systems to streamline the process of receiving, capturing, approving and processing supplier invoices.
With features like optical character recognition (OCR), automated approval workflows and seamless integration with accounting or ERP systems, invoice automation tools help businesses handle high volumes of invoices more efficiently, reduce data entry, approval delays and errors like duplicate payments or missed due dates.
1. Pleo
Pleo offers an end-to-end invoice management solution to capture, process, approve, pay and bookkeep your invoices, all in one place.
Pleo’s invoice management solution saves you time on tedious tasks, automates approval processes and tracks invoices in real time. The solution simplifies invoice management for everyone – finance teams, bookkeepers and employees alike.
Payment automation
Payment automation software simplifies and streamlines the process of scheduling, approving and executing payments to suppliers, vendors and service providers. Instead of relying on manual bank transfers, businesses can use payment automation to automate their entire payment cycle across multiple payment methods and currencies.
Basically, it reduces processing time, minimises error, improves cash flow visibility and strengthens supplier relationships by ensuring payments are made accurately and on time.
2. Tipalti
Tipalti is a great option for businesses that need to handle payments at scale, especially if you’re dealing with suppliers or partners around the world. It takes care of the entire payment process for you and works with all kinds of payment methods, including ACH, wire transfers and PayPal.
It’s built to handle international payments smoothly and even helps you stay on top of tax and compliance requirements.
3. Airbase
Airbase makes payment automation part of a bigger, all-in-one spend management setup. It helps finance teams automate bill payments, manage approvals and track spending in real time.
With Airbase, you can schedule payments, set rules for approvals and pay in multiple currencies, all whilst keeping a close eye on company spending. It’s especially useful for businesses that want to streamline how they pay vendors and manage expenses without having to jump between different systems.
4. Corpay One
Corpay One is designed to make payment automation easy for smaller and mid-sized businesses. It helps you quickly pay bills by ACH, virtual cards or checks, and you can even set up recurring payments to save time on regular expenses.
The tool also lets you build approval workflows, so payments don’t get stuck waiting for sign-off. It connects with your accounting system too, so everything stays organised and reconciled without extra hassle.
Analytics and spend management
Analytics and spend management tools go beyond invoice management and payment automation to help businesses understand, track and control where their money is going. They turn your AP data into actionable insights, revealing patterns, inefficiencies and opportunities to optimise spend.
In short, they move AP from a back-office, reactive function to a strategic, data-informed one.
5. Pleo
Not to toot our own horn again, but with more than 1,480 five star reviews, Pleo is Europe’s most loved and trusted spend management platform. From daily business expenses to software subscriptions, Pleo gives you instant visibility of all your company spend.
Pleo's analytics dashboard offers detailed reports on spending patterns to help you identify trends, monitor budgets and make informed financial decisions. And with real-time tracking, easy categorisation of expenses and automated expense reporting, your finance team can keep up with expenses as they happen – no need to worry about overspending.
Cross-border payment and FX management
Cross-border payment and FX management tools help businesses send and receive payments internationally whilst managing the challenges that come with different currencies, exchange rates and payment regulations.
These tools make it easier to pay overseas suppliers, freelancers or partners without the usual delays and high bank fees.
6. Wise Business
Wise Business is a popular choice for companies that need to send and receive international payments without the hefty bank fees. It lets you pay suppliers, freelancers and partners in over 70 countries, using real exchange rates with no hidden markups.
You can hold and manage balances in multiple currencies, and it makes converting between them quick and transparent.
7. Brite Payments
Brite Payments is a fast-growing fintech that makes cross-border payments simple and instant across Europe. Using open banking technology, it lets you send and receive account-to-account payments in real time – without the usual delays or high fees.
The platform supports multiple currencies and helps you manage FX conversions efficiently. It’s a great choice for businesses operating in multiple European markets that want fast, reliable and transparent international payments.
Fraud prevention and compliance
Fraud prevention and compliance tools are designed to help businesses protect their payment processes and stay on top of financial regulations. These tools work behind the scenes to spot suspicious transactions, prevent payment fraud and make sure you’re following tax laws, anti-money laundering rules and other financial regulations.
They often come with features like automated vendor checks, duplicate invoice detection, audit trails and real-time alerts for unusual activity.
8. Kyriba
Kyriba is a powerful treasury and finance platform that includes strong fraud prevention and compliance tools. It helps you centralise payments, monitor cash in real time and set controls that flag unusual activity before it becomes a problem.
The tool gives finance teams better oversight and helps reduce the risk of internal and external payment fraud – all whilst staying on top of evolving regulations.
9. Trustpair
Trustpair is a specialised platform built to help businesses prevent payment fraud, especially around vendor and supplier management. It continuously verifies banking details and company data to make sure you’re paying the right people – not fraudsters.
With automated checks and alerts, Trustpair helps reduce the risk of fraud caused by human error or fake account changes, giving teams more confidence when processing payments.
What to look for in an accounts payable tool
The tools we’ve covered tackle different parts of the accounts payable process – from invoice automation and payment scheduling to cross-border payments and fraud prevention. Together, they can help you save time, reduce risk and get better control over your company’s cash flow.
When it comes to choosing the right accounts payable tools for your business, here are a few essentials to keep in mind:
- Ease of use: An accounts payable tool should simplify your workflows, not complicate them. Look for solutions with a clear, user-friendly interface that works well for both finance teams and the wider business.
- Seamless integrations: To keep everything running smoothly, pick tools that integrate easily with your existing systems – whether that’s your accounting software, ERP, payroll platform or corporate card programme.
- Flexibility and scalability: Your AP needs might change as your business grows. Choose tools that can handle increasing invoice volumes, international payments and multi-currency transactions without a hitch.
- Good value for money: Make sure the features and benefits on offer are worth the investment. Compare pricing models, consider what’s included and weigh the long-term efficiencies and cost savings the tool could bring.
At the end of the day, it’s about finding the right mix of tools for your business – but hopefully this list has helped you get a clearer picture of what’s out there.
Final thoughts
And there you have it – a solid lineup of tools to help take the hassle out of managing accounts payable. Whether you’re looking to speed up invoice processing, simplify payments, stay on top of compliance or get better visibility over your cash flow, there’s a tool (or a mix of them) out there for you.
As finance processes keep evolving, having the right tech in place makes all the difference. It’s time to build an AP setup that works smarter – not harder.
