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Which is the best accounts payable software large business firms should invest in?
Unless you have firsthand experience with multiple large business AP systems, it can be difficult to answer the above question.
But, we’re here to help.
We have compiled a list of the top six best accounts payable software for large organizations that address their specific pain points.
In a nutshell: The 6 best AP software for large & enterprise companies.
Here’s our pick of the top six best accounts payable software for large business firms.
- Airbase
- Corpay One
- Coupa
- NetSuite
- SAP Ariba
- Teampay
The top AP software solutions at a glance.
| AP software | Top features | G2 rating | Pricing | Best suited |
| Airbase | P2P | 4.8 | $$ | Modern finance operations where a comprehensive fully integrated AP process is desired. |
| Corpay One | Expenses | 4.2 | $$ | Large, complex global enterprises with high volumes of complex payment needs. |
| Coupa | P2P | 4.2 | $$$$ | Large businesses and enterprises with centralized spending and indirect spend models. |
| NetSuite | ERP | 4.0 | $$$ | NetSuite users that can rely on the less feature-rich solution offered by their ERP. |
| SAP Ariba | P2P | 4.1 | $$$ | Very large enterprises with huge volumes, and highly complex accounting and payment needs. |
| Teampay | Expenses | 4.4 | $$ | Smaller enterprise companies that are interested in an agile, less comprehensive solution. |
Considerations to make when selecting large business accounts payable software.
A recent PYMNTS survey highlights the primary motivations for undertaking AP automation — saving time and money, reducing errors, ensuring timely payments, enhancing competitiveness, eliminating manual work, and preventing payment fraud.
The best large business accounts payable software is one that allows you to realize these benefits of AP automation. Here are the top five considerations that come into play when selecting large business AP systems.
#1. Budget and ROI.
When choosing the best accounts payable software, large businesses should evaluate the cost versus the expected return on investment (ROI). Focus on potential savings from productivity gains, reduced errors, better visibility into spend, and improved cashflow management. The best accounts payable software for large business firms maximizes ROI by replacing multiple point solutions and outdated legacy software.
#2. Time savings.
Efficiency gains are a key consideration for large businesses adopting large business AP systems. Look for features that automate time-consuming tasks such as invoice processing, expense categorization, GL coding, approval workflows, and reconciliation. The best AP automation software handles high volumes of transactions quickly and accurately to reduce manual labor, allowing finance teams to focus on strategic initiatives.
#3. Advanced AP automation features.
The ideal large business accounts payable software not only eliminates manual work but also enhances accuracy in financial processes. Moreover, the software should facilitate scalability, accommodating growth and evolving business needs.
In addition to intelligent workflow routing capabilities, the ideal AP automation software should accurately capture invoice data using OCR, ML, and AI. Integration capabilities with a wide range ERPs are critical as are customizable reporting and granular spend analytics.
#4. Payment capabilities.
Payment capabilities are vital for large businesses managing global subsidiaries and diverse supplier relationships. Look for AP software that supports various payment types (such as, ACH, international wire transfers, virtual cards) and offers flexibility in grouping invoices, scheduling, and automating payments. Prioritize large business AP systems providers who are committed to fraud mitigation and prevention and to helping you stay compliant with financial regulations across subsidiaries.
#5. User feedback.
Last, but not least, is user feedback that offers valuable insights into the usability, reliability, and customer support of AP software solutions. Large businesses should refer to review sites, such as G2 to gauge user satisfaction and the software’s ability to meet specific business needs. Be sure to choose a vendor with a reputation for responsive support and continuous product innovation based on user input.
1. Airbase.
Airbase leads the pack as the best AP automation solution for both mid-market and large businesses. Rated highly for its intuitive interface and quick deployment, Airbase removes the hassles associated with accounts payable processes, be it month-end closing, accurate invoice capturing, or reconciliation.
Its AP automation features, including advanced approval workflows, OCR and ML-based invoice capturing, deep ERP integrations, and 3-way PO matching, allow large businesses to optimize their financial processes, ensuring efficiency and accuracy.
Apart from AP automation, Airbase provides holistic spend orchestration solutions integrating guided procurement, expense management, and corporate cards.
Airbase auto-categorizes transactions and fast-tracks syncing with ERPs
Top features.
- 360-degree P2P solutions: A user-friendly platform to optimize the entire procure-pay-close spectrum, combining guided intake, AP automation, smart expense management, and flexible corporate card programs.
- Advanced AP and accounting automation: Touchless invoice processing using OCR, ML, and AI, seamless ERP integration, and automated reconciliation.
- Granular approval workflows: No-code builder to create complex approval workflows, sequential and parallel approvals, approval management via Slack, Jira, Ironclad, and other popular tech stacks.
- Comprehensive audit trail: Automatic capturing of transactions, POs, requests, invoices, approvals, payment details, and expense reports.
- Multi-currency payments: Fast-tracks payment to vendors in 200+ countries and 145+ currencies through ACH, check, virtual card, international wires, or vendor credits.
Airbase G2 rating: 4.8/5.
Which large businesses are a good fit for Airbase?
- Large businesses that have established procurement and AP processes or are looking to optimize them are a good fit for Airbase. Airbase is also the best choice for large businesses that:
- Have multiple global subsidiaries.
- Require complex approval workflows.
- Process a large volume of invoices and payments.
- Need advanced AP features, such as amortization, accrual accounting, audit trail, and multiple payment methods.
2. Corpay One.
Corpay One is a spend management platform and is part of Corpay, a platform that combines procurement and payment automation. In January 2024, the features of Corpay One and Corpay were integrated into Corpay Complete that offers a single platform to manage invoices, POs, payments, card transactions, and accounts payable.
Although Corpay primarily targets mid-sized businesses, it is a suitable accounts payable software for large business firms based on its global payment and advanced invoice automation capabilities.
Workflow builder to create custom approval flows
Top features.
- Invoice capturing: A centralized platform to capture invoice data using ML and AI.
- Approval workflows: Workflow builder to create custom flows based on actions and triggers, such as amount, keywords, vendor, and currency.
- Vendor payment options: Offers API to expand payment capabilities in addition to supporting payments to 200 countries via multiple payment options, including SWIFT, ACH, international wire, check, and virtual card.
Corpay One G2 rating: 4.2/5.
Which large businesses are a good fit for Corpay One?
Large businesses that are a good fit for Corpay One include those with a high volume of B2B payment needs, high transaction volumes, and a requirement for integrated spend management solutions. Companies operating in multiple regions or countries needing a single card to manage fuel, travel, and business expenses can also opt for Corpay One.
3. Coupa.
Coupa is an all-encompassing spend management platform that combines tools to streamline procurement, accounts payable, and expense management. In addition, it offers solutions for sourcing, contract management, budgeting, and supply chain collaboration.
While Coupa’s AP automation features facilitate touchless invoice processing, the platform does not directly integrate with ERPs unlike the other large business accounts payable software listed here. Instead, Coupa offers ERP Accelerators to connect with major ERPs.
AI-powered insights on invoice spend.
Top features.
- Touchless invoice processing: InvoiceSmash converts invoices sent via email into relevant field formats.
- Approvals and PO matching: Built-in approvals and 2-way and 3-way PO matching.
- Mobile-based approvals: Admins can set thresholds for invoice review while approving invoices from mobile devices.
- Spend insights: AI-powered Spend Guard flags non-compliant invoice spend while trend analysis helps businesses identify ways to minimize cost-per-invoice.
- Compliance as a Service (CaaS): Coupa supports e-invoicing requirements in 50 countries and helps manage local regulatory complexities by automatically updating invoice presentation and providing additional tax functionalities through CaaS.
Coupa G2 rating: 4.2/5.
Which large businesses are a good fit for Coupa?
Coupa is the best fit for large businesses and enterprises that are looking for sourcing, contract management, procurement, and spend management solutions. Specifically, businesses with indirect spend models and centralized spending can benefit from Coupa.
4. NetSuite.
As a cloud-based ERP (enterprise resource planning) platform, NetSuite offers a wide range of business management solutions for large businesses and enterprises. Its capabilities extend to customer relationship management (CRM), supply chain, e-commerce, inventory, and human capital management.
NetSuite is also an accounts payable software large business firms should consider to streamline their accounts payable and receivable processes. It supports global business operations with multi-currency, multi-language, and multi-subsidiary capabilities, ensuring compliance with various regulatory requirements.
Real-time data on financial metrics
Top features.
- General ledger features: Multi-book accounting, the ability to define custom segments and GL impact lines to transactions, distribute shared transactions based on predefined rules, automated journal-entry workflows, depreciation and amortization calculations.
- Accounts payable: Configurable dashboards to track invoices and POs, vendor management tools, invoice data extraction, PO matching, reconciliation, and embedded banking services to manage payments.
- Cash management: Real-time view of cash status on Cash 360 Dashboard, automated importing of credit card and bank data, intelligent rules engine to reconcile bank data to existing transactions.
- Compliance: Automatic tax calculation for each transaction and jurisdiction, and vendor VAT registration validation.
- Financial close: Standardized close checklist and automated consolidation of accounts at subsidiary levels.
NetSuite G2 rating: 4.0/5.
Which large businesses are a good fit for NetSuite?
Fast-growing businesses and enterprises that are looking to expand internationally can benefit from NetSuite’s capabilities, such as:
- Multi-currency transactions.
- Supply chain management.
- Asset management.
- Regulatory compliance.
- Integrated, versionless ERP solution.
5. SAP Ariba.
SAP Ariba caters to the procure-to-pay needs of large businesses by combining sourcing, procurement, and supplier management solutions. Apart from spend management solutions, SAP Ariba offers a range of invoice management tools, including the ability to define invoicing and local business rules in multiple countries.
A central platform to capture and process invoices from multiple sources
Top features.
- Invoice management: Smart invoicing rules, extraction of data from digital and paper invoices including non-PO and complex service invoices, PO matching, routing of exceptions back to suppliers, and automated reconciliation.
- Approval routes: Best-practice workflow templates that can be configured using a drag-and-drop tool, the ability to define work queues based on spend category, supplier group, invoice type, and other criteria.
- Multi-dimensional reporting: Overview of KPIs, transaction-level details, and the ability to generate financial reports for accruals, processing cycles, and cash forecasting.
- Global compliance: In addition to defining up to 40 business rules for each country, businesses can carry out compliant transactions in over 190 countries and 70 currencies.
SAP Ariba G2 rating: 4.1/5.
Which large businesses are a good fit for SAP Ariba?
Large businesses seeking a procurement platform in addition to invoice automation, sourcing, and contract lifecycle management will find SAP Ariba a suitable solution.
6. Teampay.
Teampay is one of the accounts payable software large businesses should evaluate based on its ability to streamline invoice management and automate reconciliation.
Apart from accounting automation, Teampay integrates purchase management, expense management, and corporate cards into a unified platform. In April 2024, Teampay announced its acquisition by Paystand, a B2B payment solution provider that can potentially enhance the software’s payment management capabilities.
Admins can define custom approval workflows based on various criteria
Top features.
- Invoice capturing: Captures invoice data using OCR technology and matches invoices to purchase orders with smart matching technology.
- Approval workflows: Allows creation of custom approval workflows by defining spend limits by vendor, amount, department, and other criteria.
- Automated reconciliation: Teampay software applies the correct coding to reconcile transactions automatically.
- Invoice status visibility: Complete audit trail and visibility into invoices and purchase orders including payment status, partial closes, and bill payments. Multiple payment methods: Teampay supports domestic and international payments via ACH, wire, check, and cards.
Teampay G2 rating: 4.4/5
Which large businesses are a good fit for Teampay?
Businesses that rely on Slack for managing approvals can opt for Teampay in addition to companies looking for simple:
- Spend management features.
- Purchase assistance.
- Upfront purchase approvals.
In summary.
While these are the top six choices when it comes to large business accounts payable software, selecting the right one depends on your business’s specific needs and goals.
Remember that the hallmarks of the best accounts payable software for large business firms are advanced automation, touchless invoice processing, robust payment capabilities, fraud prevention, and seamless ERP integration — features that define Airbase.
By improving financial process efficiency and replacing point solutions and legacy systems, Airbase optimizes the time-to-value to deliver a high ROI of up to 272%!
Airbase is also the only platform that consistently ranked on G2 for its user-friendliness, innovativeness, reliability, and responsive customer support.
