If you run an organization, regardless of its size, one of the most important functions is its finance and AP team. Handling accounts payable manually has many downsides, not the least of which are huge time investment and a higher error rate, which delays vendor payments and takes away from valuable time that could instead be used for handling exceptions.
\nBut what if there was a better way, a more efficient way? A solution to help your organization streamline finances, automate the payment process, and also give you better control over expenses?
\nThat\u2019s what automated AP solutions do, and while BILL (formerly Bill.com) is a popular option, it\u2019s not the only solution. That\u2019s why we\u2019ve created this list of the best BILL alternatives for AP automation and vendor payments.
\nContinue reading this blog to shortlist the best solution for your organization.<\/p>\n
Zenwork Payments is a compliance-first automated AP solution. Zenwork Payments is built to streamline vendor onboarding, invoice and approval workflows, payment execution, and 1099 compliance in a single system. So, the platform helps reduce the need for constant manual intervention, which is a major driver of errors, rework, and repeated data entry, and keeps the records clean and consistent across payments and tax processes.<\/p>\n
Key features<\/strong><\/p>\n Pros<\/strong><\/p>\n Cons<\/strong><\/p>\n Tipalti focuses on streamlining financial workflows for mid-market and scaling organizations. Tipalti lets teams pay vendors in 200+ countries and territories in 120 currencies, and it helps with tax compliance by collecting and checking tax forms.<\/p>\n Key features<\/strong><\/p>\n Pros<\/strong><\/p>\n Cons<\/strong><\/p>\n Melio is often preferred by SMBs who make small and lightweight payments and are not looking for international payment features. The platform’s simple interface and workflow make it easily adaptable for teams that do not want a complex system.<\/p>\n Key features<\/strong><\/p>\n Pros<\/strong><\/p>\n Cons<\/strong><\/p>\n Stampli is an invoice-centric AP solution. The platform focuses on routing and its invoice collaboration feature. It is a good alternative to BILL for the teams who are looking for stronger and more advanced invoicehandling and faster invoice approvals workflows.<\/p>\n Key features<\/strong><\/p>\n Pros<\/strong><\/p>\n Cons<\/strong><\/p>\n AvidXchange is popular with mid-market organizations that handle high invoice volumes and need strong internal controls. The software is a good alternative for BILL because it supports cross-border payments and provides multi-entity support.<\/p>\n Key features<\/strong><\/p>\n Pros<\/strong><\/p>\n Cons<\/strong><\/p>\n Choosing the best AP automation software for your business should start with understanding exactly what your business needs. Generally, most businesses look for features like automation, scheduling, and support for multiple integrations, but priorities differ from team to team and depend on their size and workflows.<\/p>\n To find the best solution, go through this checklist as these features can impact your team\u2019s day-to-day work.<\/p>\n Confirm if the software has W-9 collection, TIN matching, and 1099 compliance as part of the onboarding process. This will reduce corrections and rework and help reduce tax-season issues.<\/p>\n Ensure the software supports your preferred payment methods, so there won\u2019t be any issues when making payments.<\/p>\n Integration support with your accounting or ERP is a must, so make sure you go through the supported integration list.<\/p>\n Some of the best BILL competitors are platforms that combine AP workflows with better and stronger controls, support multiple accounting software integrations, and provide compliance support.<\/p>\n When you are looking for an alternative to BILL, you should prioritize must-have features like payment approval workflows, accounting integrations, payment visibility, and native 1099 compliance, especially if you manage multiple vendors.<\/p>\n A vendor payment software or an accounts payable automation platform automates invoice capture, payment approvals, payment execution, and reconciliation. So, your team spends more of its time on strategic tasks like exception handling and oversight and less on repetitive data entry.<\/p>\n It\u2019s not a must, but a \u201cgreat-to-have”. Especially if you are paying U.S. vendors, features like built-in W-9 collection, TIN matching, and 1099 preparation are all important steps to reduce errors and support accurateyear-end filing.<\/p>\n The AP and vendor payment software you pick affects your cash flow controls, your audit readiness and the time that your AP team gets to spend on resolving exceptions. While BILL is a strong choice, it\u2019s clear that other options may be a better fit depending on your workflows and control requirements.<\/p>\n While some platforms are best suited for global payments and multi-entity controls, others focus on speeding up your invoice workflow and approval process, or on streamlining vendor payments for smaller teams with stronger visibility and internal controls. Each of the above-mentioned platforms has its own uses, so the right choice for you depends on your invoice volume, approval process, and whether you need tax compliance support.<\/p>\n When you are shortlisting options, carefully evaluate how each handles vendor onboarding, payment status tracking, and whether it integrates with your accounting software. Also review how it supports 1099 reporting. Zenwork Payments is built for teams that want AP processes that are more controlled, streamlined vendor payments, and 1099 workflows managed in one system.<\/p>\n Zenwork Payments manages your AP automation and 1099 compliance workflows in one system. Are you ready to try?<\/p>\n\n
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2. Tipalti<\/h2>\n
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3. Melio Payments<\/h2>\n
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4. Stampli<\/h2>\n
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5. AvidXchange<\/h2>\n
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How to Choose the Right BILL Alternative?<\/h2>\n
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FAQs<\/h2>\n
1. What are the best BILL competitors for AP automation?<\/h5>\n
2. What should I look for in alternatives to BILL AP automation?<\/h5>\n
3.What does a vendor payments software or accounts payable automation platform actually automate?<\/h5>\n
4. Do I need 1099 compliance and vendor onboarding software in my AP process?<\/h5>\n
The Bottom Line<\/h2>\n