Top 25 Performers in Invoice Processing Software
Top 25 Performers in Invoice Processing Software
The invoice processing software industry is flourishing, offering sophisticated solutions for businesses in simplifying their payment processes. Companies in this industry are both innovative and diverse, serving a wide range of sectors from healthcare to construction. They provide powerful tools for automating accounts payable, streamlining workflows, and reducing errors, allowing businesses the invaluable advantage of focusing on their core operations. With real-time metrics, tailored payment solutions, and user-friendly interfaces, these businesses are revolutionizing finance management. The future of this industry is poised to witness even greater incorporation of AI and machine learning for advanced automation and precision.
Top 25 Invoice Processing Software Companies
1. AvidXchange, Inc.
- Website: avidxchange.com
- Headquarters: Charlotte, North Carolina, United States
- Founded: 2000
- Headcount: 1001-5000
- Latest funding type: Ipo
AvidXchange is a financial technology company that offers accounts payable automation solutions. Their software helps businesses cut costs, reduce errors, and streamline their payment processes.
2. Nexus
- Website: nexussystems.com
- Headquarters: Falls Church, Virginia, United States
- Founded: 1999
- Headcount: 1001-5000
- Latest funding type: Acquired
Nexus Systems is a leading international payments company that offers AP automation and vendor payments software. Their software automates invoices, streamlines workflows, and provides complete visibility of payment statuses. Nexus Systems serves customers in various industries including healthcare, retail, manufacturing, higher education, government, and construction.
3. Chrome River Technologies
- Website: chromeriver.com
- Headquarters: Los Angeles, California, United States
- Founded: 2007
- Headcount: 201-500
ChromeRiver is an innovative software company that offers solutions for invoice management and AP automation. With their technology, businesses can easily change their business rules, future-proof their operations, and grow organically. Their user-friendly apps are designed for the modern mobile lifestyle and come with implementation teams, customer support, and regular feature updates. They provide tailored payment solutions, real-time metrics, and efficient travel data management. ChromeRiver is committed to delivering the best end-to-end travel and expense management software with excellent service and support.
4. Circulus
- Website: circulus.io
- Headquarters: Plano, Texas, United States
- Founded: 1998
- Headcount: 501-1000
- Latest funding type: Undisclosed
Circulus.io is a software company that offers a fully customizable end-to-end solution for data extraction, approval workflow, and online forms. They provide 99.5% accuracy in data extraction for vendors invoices templates. Their solution streamlines processes, reduces time requirements, and improves record maintenance for clients.
5. MHC Software
- Website: mhcautomation.com
- Headquarters: Burnsville, Minnesota, United States
- Founded: 1980
- Headcount: 201-500
- Latest funding type: Private Equity
MHC Automation is a company that offers MHC NorthStar, a cloud-based platform for AP departments to manage their end-to-end AP invoice and payment processes. The platform enables digitization and automation of high volumes of invoices and payments, resulting in fewer exceptions, less data entry, and greater visibility and insights.
6. Ips
- Website: ipswrx.com
- Headquarters: Secaucus, New Jersey, United States
- Founded: 1991
- Headcount: 51-200
- Latest funding type: Acquired
IPS is an invoice processing solutions company that offers advanced AP technology and decades of expertise in various industries. They streamline the receipt, processing, and posting of invoices, digitizing and simplifying the entire AP workflow.
7. Yokoy
Yokoy.io is an automation software company that helps businesses save time and money by streamlining their financial processes. Through their AI-powered platform, Yokoy automates invoice processing, expense management, and corporate payments. They offer customizable approval flows, actionable insights, and seamless integrations with major third-party tools.
8. Plate IQ
- Website: plateiq.com
- Headquarters: San Francisco, California, United States
- Founded: 2014
- Headcount: 51-200
- Latest funding type: Series B
Plate IQ is an AP automation software that simplifies invoice processing for businesses. With industry-leading AI machine learning, invoices are automatically digitized, searchable, and secure in a digital filing cabinet. Plate IQ offers features like scan invoices without manual data entry, virtual and physical cards for real-time spend control, and automated invoice processing that learns your workflows.
9. Candis
- Website: candis.io
- Headquarters: Berlin, Berlin, Germany
- Founded: 2015
- Headcount: 51-200
- Latest funding type: Series C
CANDIS.io is a cloud-based software that empowers finance teams by automating financial processes such as invoice processing, approval, and payment. It offers features like automated invoice import, sorting and payment reminders, seamless export to accounting systems, and a centralized digital archive. With CANDIS, companies can streamline their financial operations, improve efficiency, and reduce manual errors.
10. Rillion
- Website: rillion.com
- Headquarters: Stockholm, Illinois, Sweden
- Founded: 1993
- Headcount: 51-200
Rillion is an invoice automation company that provides AP automation solutions for businesses. They offer functionality such as importing invoice data, invoice processing, approval workflow, PO matching, contract management, and detailed reporting.
11. Ascend
- Website: ascendsoftware.com
- Headquarters: Portland, Oregon, United States
- Founded: 2018
- Headcount: 51-200
Ascend Software is a company that offers multi-source invoice capture and accounts payable automation solutions. Their flagship product, ELEVATEAP, achieves high touchless processing rates, eliminating 80-90% of invoice processing work. They provide resources, support, and certified ERP integrations to help businesses automate their accounts payable process.
12. Cevinio
- Website: cevinio.com
- Headquarters: Rotterdam, South Holland, Netherlands
- Founded: 2014
- Headcount: 51-200
- Latest funding type: Series Unknown
Cevinio.com is an invoice automation software company that offers super smart Invoice-to-Pay solutions. Their technology automates the accounts payable process, ensuring accuracy, productivity, and on-time payments. With their self-learning ability, Cevinio improves accounts payable productivity and provides consistency in cost allocation. They have connections with >350 ERP systems, allowing for seamless integration. Cevinio's cloud solution increases productivity by 3-5 times and offers a clear insight into the status of invoices. They aim to streamline invoice processing through human-machine collaboration.
13. V1 Ltd
- Website: wearev1.com
- Headquarters: Knutsford, Cheshire, United Kingdom
- Founded: 1989
- Headcount: 51-200
V1 Limited is a software company specializing in financial automation solutions. Their software integrates with various finance and accounting suppliers, streamlining purchase-to-pay processes and automating tasks. They offer invoice automation and document management solutions, helping finance teams save time and money. With over 2,000 customers, V1 is a trusted vendor for finance and HR teams, providing cloud-enabled software that securely automates processes. They work closely with partners to seamlessly integrate their solutions and offer support for businesses in various industries.
14. Zenvoices
- Website: zenvoices.com
- Headquarters: Bennekom, Gelderland, Netherlands
- Founded: 2016
- Headcount: 11-50
Zenvoices is an innovative company that provides automated invoice processing solutions. Their software allows users to easily scan and recognize different types of invoices and receipts, automatically extract relevant data, and integrate with various accounting software. With Zenvoices, businesses can streamline their invoice processing workflows, reduce manual data entry, and improve efficiency.
15. Hermes - AP Automation
- Website: automateinvoices.com
- Founded: 2004
- Headcount: 501-1000
The number one challenge in AP Invoice processing that we heard from CFOs was a high volume of non-standard invoices in multiple formats received from hundreds of vendors mostly via email round the clock. Other concerns and challenges the Accounts Payable team faced were the need to verify and process these invoices manually, checking for multiple validations for accuracy and validity of the invoice. Apart from the huge manual data entry effort of manually keying the invoice into the AP software, there was also a lot of manual effort to validate the invoice against PO, Contract, Vendor Master, and Tax calculations. Hermes - AP Automation was built keeping this in mind.
16. Taulia
- Website: taulia.com
- Headquarters: San Francisco, California, United States
- Founded: 2009
- Headcount: 201-500
- Latest funding type: Acquired
Taulia is a company that offers supply chain finance and dynamic discounting solutions for businesses. Through their platform, they provide funding flexibility, allowing companies to switch between self-funded dynamic discounting and third-party funded supply chain finance based on their working capital needs. Taulia's multi-bank financing model reduces risk and dependency on a single financial institution.
17. Beanworks by Quadient
- Website: beanworks.com
- Headquarters: Vancouver, British Columbia, Canada
- Founded: 2012
- Headcount: 51-200
- Latest funding type: Acquired
Beanworks is an AP automation solution that helps organizations reduce risk, cut costs, and gain greater visibility over their entire accounts payable process.
18. Kefron
- Website: kefron.com
- Headquarters: Dublin 12, Dublin, Ireland
- Founded: 1989
- Headcount: 51-200
Kefron is a company specializing in information management solutions, including document storage, records management, and data capture. They offer secure and efficient offsite storage, digitization services, and online document management software.
19. Empronc Solutions
- Website: empronc.com
- Headquarters: Mumbai, Maharashtra, India
- Founded: 2004
- Headcount: 201-500
Empronc is a company that provides software solutions for spend management, procurement, and budget management. They help businesses improve their financial controls, reduce costs, and streamline their processes.
20. InStream
- Website: instreamllc.com
- Headquarters: Nashville, Tennessee, United States
- Founded: 2004
- Headcount: 51-200
InStream LLC is a company that specializes in streamlining workflow processes and providing automation solutions for businesses. They offer services such as Robotic Process Automation, Project Management, Document Technology, and Electronic Content Management. Their aim is to eliminate costs and overhead for their clients and improve efficiency.
21. Aavenir
- Website: aavenir.com
- Headquarters: Plano, Texas, United States
- Founded: 2019
- Headcount: 11-50
- Latest funding type: Series A
Aavenir is a provider of AI-driven source-to-pay solutions on the ServiceNow platform. They offer a range of products including AP automation, vendor management, contract management, and sourcing management. Their solutions streamline processes, improve efficiency, and help businesses reduce costs.
22. Snowfox.AI
- Website: snowfox.ai
- Headquarters: Helsinki, Uusimaa, Finland
- Founded: 2018
- Headcount: 11-50
Snowfox.AI is an AI-powered automation company that specializes in handling non-PO invoices. Their technology integrates with existing systems, learns from historical data, and automates the invoice process. With Snowfox.AI, businesses can save time and reduce costs while improving efficiency.
23. Itemize
- Website: itemize.com
- Headquarters: Wilmington, Delaware, United States
- Founded: 2012
- Headcount: 11-50
- Latest funding type: Angel
Itemize.com is a company that offers document inbox and management solutions. They provide tools for enhancing visibility, accelerating invoice approval workflows, and fueling data-driven decision-making. Their AI-powered solution extracts, categorizes, and enriches intelligence from invoices and other B2B payables documents. With out-of-the-box integrations, they simplify and automate the AP process, ensuring teams can focus on high-value activities. Itemize.com transforms back-office operations, providing deep insights into documents and data to drive decisions on high-value transactions.
24. NFE.io
- Website: nfe.io
- Headquarters: São Paulo, Sao Paulo, Brazil
- Founded: 2016
- Headcount: 11-50
- Latest funding type: Seed
NFE.io is a technology company that offers solutions to automate and simplify the issuance and management of electronic invoices, helping businesses save time and reduce errors, improving the efficiency and accuracy of the process.
25. iPaidThat
- Website: ipaidthat.io
- Headquarters: Paris, Île-De-France, France
- Founded: 2017
- Headcount: 11-50
- Latest funding type: Series Unknown
iPaidThat is a financial management and accounting tool that simplifies, automates, collaborates, and centralizes various financial processes. Its features include pre-accounting, cash flow management, expense tracking, invoice creation, and payment facilitation. With iPaidThat, businesses can streamline their financial operations, save time, and improve collaboration with partners and employees.
Want to find more invoice processing software companies?
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