As the need for invoice issuance and invoice control increases, manual invoice processing is no longer a suitable solution, which has many potential errors, affecting cash flow and service users. Therefore, invoice processing software has become a lifesaver for businesses, helping to automate the process from data entry to approval and payment. In this article, DIGI-TEXX will help readers have an overview of the top 7 invoice processing software solutions that are trusted by many businesses, evaluated based on features, benefits and users.
Brex
Brex invoice processing software provides a unified financial management platform, where invoice processing is seamlessly integrated with the company’s accounts/cards and expense management. Brex’s USP is to make the invoice processing part of a comprehensive financial ecosystem, helping businesses manage all expenses from a single place, automating the approval and payment process intelligently.
Features:
- The software helps create a complete automation process from receiving invoices via email, extracting data using AI to approving and paying.
- Can be deeply integrated with corporate cards and expense management software in the Brex ecosystem.
- Customizable multi-level approval process and automatic synchronization with popular accounting software such as QuickBooks, Xero, and NetSuite.
- Supports global payments via multiple methods (ACH, wire transfer, check).
Pros/Cons:
- Pros: Simplifies all financial operations on a single platform, supports real-time visibility and control of expenses. Friendly and easy-to-use interface.
- Cons: Best suited for companies that already have or plan to use the entire Brex ecosystem. Businesses looking for a single invoice processing solution may find the other features redundant.
Price: Brex typically offers plans that include invoice processing. The basic plan is free, while the more advanced plans with more features and higher limits will cost $12 per month, as well as support for custom plans for businesses.
QuickBooks
QuickBooks has long been a household name in the accounting space for small and medium-sized businesses. Their invoice automation software is designed to integrate tightly into existing accounting systems and is popular among businesses. QuickBooks’ USP is to provide a familiar, accessible, and deeply integrated invoice processing solution right within the accounting software that millions of businesses use, making it possible to implement new financial processes seamlessly and without disruption.
Features:
- Allows users to create, send, and track invoices directly from the QuickBooks platform.
- Automate payment reminders and reconcile payments with corresponding invoices.
- OCR feature to scan and import data from paper invoices or PDF files more easily.
- Integrates with QuickBooks Payments so customers can pay online easily.
Pros/Cons:
- Pros: Perfect integration for businesses already using the QuickBooks ecosystem. Workflows are simplified, minimizing manual data entry between systems.
- Cons: Invoice automation features aren’t as customizable as other dedicated software. May require third-party apps for more complex processes.
Price: Invoice processing is typically included in QuickBooks Online subscription plans, with prices starting at around $30/month for basic plans.
PairSoft
PairSoft is a Procure-to-Pay automation solution, with a focus on inbound and outbound invoice processing. PairSoft’s USP is its deep and seamless integration with existing ERP systems (especially Microsoft Dynamics, Blackbaud, NetSuite), allowing businesses to automate complex invoice approval processes without disrupting existing workflows.
Features:
- Uses OCR technology to accurately extract line-level invoice data.
- Automatic 2-way and 3-way reconciliation (invoices, orders, and receipts).
- Flexible workflows to match company approval rules.
- Supports a secure electronic document repository that is easy to search and retrieve for audit purposes.
Pros/Cons:
- Pros: Great for automating complex financial processes and is highly scalable. Significantly reduces processing time and data entry errors.
- Cons: Can be complex and require more effort to implement than simple solutions. It can be more expensive than similar software, not suitable for very small businesses.
Price: PairSoft offers pricing based on a custom quote based on your business needs, invoice volume, and level of integration.
Astera
Astera specializes in no-code data management solutions, and their invoice processing software is no exception. Astera’s USP is its ability to extract data from structured, semi-structured, and unstructured invoices entirely using AI without the need for templates, allowing businesses to process all types of invoices flexibly and quickly. Suitable for accountants or businesses without coding expertise to deploy.
Features:
- ReportMiner uses AI to automatically identify and extract data from various invoice formats.
- No-code platform, allowing business users to design and manage data processing flows.
- Integrate data validation and cleaning rules to ensure output data quality.
- Ability to connect and export data to various output formats and systems.
Pros/Cons:
- Pros: Extremely good and flexible in data extraction. Reduces time to set up and maintain invoice templates. Empowers non-technical users.
- Cons: Focuses primarily on data extraction and conversion, may need to integrate with other systems to manage end-to-end approval and payment processes.
Pricing: Astera’s service packages operate on a custom pricing model, depending on the scale of the deployment and the specific features that the customer requires.
Rossum
Rossum is a leading intelligent platform focused on AI-powered document data capture. Rossum’s USP is its self-learning AI technology that can understand the layout of any invoice without manual setup or prototyping, reducing data entry by up to 98% and adapting quickly to the latest invoice formats today.
Features:
- Cloud-based platform with a single AI model that learns from all processed documents to become more accurate over time.
- Intuitive validation interface, allowing users to easily review and quickly correct errors.
- Automate cross-validation of data with external systems.
- Provides API configurations for seamless integration into existing workflows and ERP systems.
Pros/Cons:
- Pros: Very high data extraction accuracy even with complex invoices. Self-learning capabilities allow the system to continuously improve over time. Significant savings in time and operational costs.
- Cons: As a dedicated data extraction tool, approval and payment workflow management features may not be as comprehensive as all-in-one platforms like the ones above.
Pricing: Rossum’s pricing is based on monthly invoice volume, typically starting with packages for medium and large businesses. A quote is required to receive a suitable consultation.
Rho
Similar to Brex, Rho provides users with a unified financial platform for businesses. Rho’s USP is the seamless integration of business banking, credit cards, and accounts payable (AP) processing into one place, allowing for free invoice automation and payments right from your banking platform.
Features:
- Automate accounts payable: Forward invoices to Rho, which automatically scans, encodes, and prepares payments.
- Custom approval process with flexible rules.
- Free payments via ACH, domestic and international transfers.
- Automatic sync and reconciliation with QuickBooks.
Pros/Cons:
- Pros: Rho is a comprehensive and free financial solution for invoice processing, saving costs. Manage cash flow and accounts payable on the same interface.
- Cons: To get the most out of Rho, businesses need to use it as their primary banking platform. And Rho’s features may not be as deep as software that focuses solely on invoice processing.
Price: Rho AP Automation’s core features are typically offered free to customers using Rho’s platform.
Airbase
Airbase is one of the most modern and comprehensive expense management platforms. Airbase’s USP is that it provides a single system to manage all types of corporate spending—from corporate cards, employee reimbursements, to invoice processing—with automated approval processes and tight controls before spending occurs.
Features:
- A comprehensive invoice management system that allows invoice entry, approval, and payment on the same platform.
- Automate general ledger coding (GL) with customizable rules.
- Provides detailed visibility into all company spending commitments in real-time.
- Deep integration with leading ERP and accounting systems.
Pros/Cons:
- Pros: Provides superior spend visibility and control. Helps finance teams effectively enforce spending policies.
- Cons: May be too complex and expensive for small businesses that only need basic invoice processing.
Pricing: Airbase offers service plans based on company size and needs, operating on a custom pricing model.
If you’re aiming for broader digital transformation, exploring automation document processing can help integrate invoice workflows into a more comprehensive document management strategy.
Conclusion
Choosing the best automated invoice processing software depends largely on the size, budget, existing technology system and complexity of your business processes. And businesses can also understand that investing in software is not the only option. If the business does not have a specialized processing department, outsourcing the invoice processing process brings higher efficiency without the initial investment in technology or personnel.
At DIGI-TEXX, we provide professional invoice processing services, combining advanced AI technology and supervision by experienced experts. The DIGI-TEXX team helps you digitize and process invoices in bulk with high accuracy, freeing your team from manual work to focus on strategic activities. Contact us now to get advice on a solution package that suits your needs.
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