Top 10: AP Automation Platforms

Accounts Payable (AP) automation is crucial for the financial resilience of companies, especially as businesses are having to adapt and work faster in order to stay ahead of competitors.

Businesses today are consistently shifting to more online approaches, implementing automation, AI and machine learning into their procurement processes. 

As businesses are shifting their priorities to flexibility, sustainability and resilience, they are still looking at how they can cut costs while still going from strength to strength. 

Procurement Magazine takes a look at the Top 10 AP automation platforms which are helping transform business procurement.

10. Stampli

Employees: ~300​​​​​​
CEO and Co-Founder: Eyal Feldman
Founded: 2005

With Stampli’s AP automation software, businesses can gain complete visibility and control over their work. All communication, documentation and workflows go into a singular space providing a full, streamlined picture of the business.

With its AI employee, Billy the Bot, Stampli assists businesses throughout the whole invoice process, learning along the way to improve its knowledge base and reaction time. Billy adapts to each company’s unique AP processes in order to automate tasks.

9. Medius

Employees: 755
CEO: Jim Lucier
Founded: 2001

Medius AP software replaces stress and uncertainty with the confidence that processes can be simple. It links invoice capture, processing and payment together to ensure employees are at ease. 

With Medius, every invoice is treated with the same level of speed and accuracy, providing easy deployment and no risk. Fraud or duplicate payments can be automatically identified, avoiding risks before they can occur. Medius also helps companies manage local and cross-border regulations to ensure full compliance.

8. Centime

Employees: ~60
CEO and Co-Founder: BC Krishna
Founded: 2019

Centime offers unified financial automation in a single ERP-embedded platform. With Centime, businesses can automate every part of AP, from coding to supplier visibility. Since it is built directly into the businesses’ ERP, there are no syncing delays or plugins - just seamless workflows.

Centime can go live in as little as seven days, with dedicated onboarding specialists to ensure no issues come up. It includes a 13-week cash flow forecast, meaning significant visibility into payable cash impact.

7. Paylocity

Employees: ~6,700
President & CEO: Toby Williams
Founded: 1997

Paylocity is a cloud-based HR and payroll software solution provider, helping businesses automate and streamline processes, attract talent and build culture with employees. 

In 2024, it acquired Airbase, a finance and spend management software solution which combined AP automation with expense management and procurement capabilities. 

With these combined solutions, Paylocity now helps businesses manage the entire accounts payable lifecycle with automated invoice management and automatic approval workflows. It helps streamline global vendor payments and makes vendor onboarding much more simplistic – creating an efficient workflow.

6. Nanonets

Employees: 200-500
CEO: Sarthak Jain
Founded: 2017

With Nanonets, businesses can experience an AP automation platform that has AI embedded in every step. The platform uses machine learning models to deliver 99%+ accuracy on invoices, receipts, POs and bank statements. 

Nanonet syncs with all ERPs, CRMs and workplace apps, running business processes seamlessly. Data matching and decisions around purchasing, reconciliation and approval workflows can be automated – meaning more efficiency and less mistakes.

5. Yooz

Employees: ~500
CEO: Laurent Charpentier
Founded: 2010

To keep manual data entry and costs low, Yooz integrates more than 250 ERP and accounting systems worldwide, rather than its customers having to switch to a new ERP system. Yooz has a dedicated customer support team to provide technical and functional support. 

Its integrated AU can recognise relevant data in a document, drawing on information from 1 million suppliers and 200 million documents. Its smart data extraction technologies speeds up processes and reduces manual workload dramatically.

4. SAP Concur Invoice

Employees: ~6,700
CEO: Christian Klein
Founded: 1993

With SAP Concur Invoice, businesses can speed up the entire accounts payable process by automating and digitising each step. Concur offers a mobile-friendly cloud-based tool which helps it be user friendly.

Businesses can integrate Concur Invoice, Concur Expense, and Concur Travel to create a single spending solution, managing each cost on only one system. 

Companies can make more informed decisions with less errors and less tedious tasks, resulting in improved workflows and faster decisions.

3. Tipalti

Employees: ~1,250
CEO and Co-Founder: Chen Amit
Founded: 2010

Using Tipalti’s finance automation solution, companies can streamline their accounts payables and accelerate global payouts. With its AP automation, companies can benefit from OCR invoice scanning, meaning faster, more compliant work patterns using previously missed insights. 

Tipalti also offers automated approval flows and self-serve supplier onboarding. It also provides the tools to scale AP operations as the business grows, meaning there’s no risk of stagnation or outdated information. With automatic scale, businesses are not prevented from growth in any measure.

2. Coupa

Employees: ~3,400
CEO: Leagh Turner
Founded: 2006

Coupa’s AP automation saves businesses time and money, allowing finance teams to focus on more value-adding tasks. By replacing paper invoices and automating workflows, business leaders can see a full transformation in their operational excellence.

With AI-driven e-Invoicing capabilities, businesses can avoid regional tax hurdles to ensure compliance. 

Coupa also offers 2-way and 3-way matching and built-in approval workflows to save time with touchless invoicing. As a result, teams can focus on building supplier relationships to help build stronger supply chains. 

It also has AI driven matching, pairing and coding to help eliminate bottlenecks and decrease cost per invoice. It has full visibility into spend and accruals, meaning no surprise costs or financial issues.

1. Basware

Employees: 1,300+
CEO: Jason Kurtz
Founded: 1985

Basware’s AI/machine learning-powered solution makes touchless invoice processing a key feature for businesses who want to transform their AP solutions. Its AI/ML functionality can be applied to every part of the process, from invoice receipt to coding.

Through speeding up tasks and eliminating errors, value can be added throughout the business - with 30x faster payment authorisation and 100% spend visibility. 

Thanks to automated tax code handling and tax calculations, businesses can ensure compliance with regulations in more than 50 countries around the world. 

Its touchless invoice processing helps businesses access vital KPIs, insights into inefficiencies and recommendations for improvements, helping businesses reach their full potential.