Accounts payable, receivable and payments software: 11 vendors compared

What AP automation software does

From invoice capture to the payment run

Accounts payable automation is software that takes a supplier invoice from arrival to payment with as little manual keying as possible. It starts with invoice capture: the system reads invoices received by email, upload or e-invoicing network and extracts the supplier, dates, amounts and line items. It then checks the invoice against the purchase order and the goods receipt, a process known as three-way matching, so that the business pays only for what it ordered and received.

Invoices that match are routed for approval under the company’s own rules, by amount, department or cost center, and exceptions go to the person who can resolve them. Approved invoices move into a payment run, where the software pays suppliers in batches by methods such as ACH, check, card or international transfer, and posts the payments back to the ledger. Its measure of success is the cost and time taken to process each invoice.

Accounts payable software companies at a glance

The AP vendors covered on this page, with headquarters, target company size and core capability

Payables and receivables are where finance software touches money, and where the most venture capital has gone in 2025 and 2026. BILL and Tipalti are the established payables platforms; Zip owns procurement intake; and a wave of AI receivables companies, Stuut, Monk, Fazeshift, Paraglide and Kolleno, has raised more than $160 million to chase invoices with agents. Every vendor below has a full profile.

The vendors

Startups first, ordered by funding raised, then the established vendors they compete with

ZipStartup · $371m raisedEnterprise procurement and accounts payable platform that sits in front of the ERP, routing every purchase request through approvals, vendor onboarding and payment, now with AI agents across intake-to-pay.→StuutStartup · $103m raisedAI platform that runs accounts receivable for mid-market and enterprise companies: invoicing, collections, cash application and disputes, with agents doing the work rather than dashboards showing it.→MonkStartup · $29m raisedAI-native accounts receivable for B2B companies covering the full contract-to-cash cycle, from invoicing and collections to cash application and disputes, out of stealth since October 2025.→MimoStartup · $29m raisedPayments, cash flow and accounts payable platform for SMEs and their accountants, founded by three former iZettle staff in London and Stockholm, with embedded working capital from Froda.→FazeshiftStartup · $22m raisedAI agents that run accounts receivable end to end for enterprise finance teams, from invoice follow-up to cash application, drawing on the company's existing ERP, CRM and billing systems.→KollenoStartup · $5m raisedLondon order-to-cash platform for mid-sized businesses: credit control, collections workflows, payments and reconciliation, with about $9.5m in revenue and a Built for NetSuite integration.→Paraglide AIStartup · $5m raisedBritish-Swedish company building AI agents for accounts receivable: billing support, collections, disputes, deductions, credit and cash application for mid-market and enterprise finance teams.→CleavrStartup · $1m raisedParis startup automating accounts receivable with an AI agent that identifies overdue invoices, contacts debtors, answers their questions and records payment promises, aimed at European mid-sized companies.→CentimeStartupBootstrapped Boston platform combining accounts payable, accounts receivable, cash forecasting and business banking in one suite for mid-sized companies, embedded in NetSuite and other ERPs.→BILLAccounts payable, receivable and spend platform for small and mid-sized businesses, listed on the NYSE, with $1.7bn in annual revenue and a payments network of 9.2 million members that most US accounting firms route bill pay through.→TipaltiGlobal payables automation for mid-market companies: supplier onboarding, tax forms, invoice processing and mass payments in 196 countries, with about $200m in recurring revenue and $75bn in annual payment volume.→

Who the vendors are

Headquarters, founding year, ownership or funding, and where each payables vendor has offices

BILL. Headquartered in San Jose, US, and founded in 2006 as Cashboard. BILL is listed on the NYSE under the ticker BILL. Its annual report lists offices in San Jose, California, and Draper, Utah.

Tipalti. Headquartered in Foster City, US, and founded in 2010. Tipalti is privately held. Its last equity round was a $270m Series F in December 2021 at a valuation of $8.3bn, and it secured a $200m growth financing facility from Hercules Capital in September 2025. It has offices in London and Amsterdam, and research and development in Israel.

Stampli. Headquartered in Mountain View, US, and founded in 2015 by brothers Eyal and Ofer Feldman. Stampli is privately held. Funds managed by Blackstone led its $61m Series D in October 2023, with Insight Partners, SignalFire, Bloomberg Beta and NextWorld Capital also investing. Its development center is in Tel Aviv.

Zip. Headquartered in San Francisco, US, and founded in 2020. Zip is privately held. It raised a $190m Series D in October 2024 at a valuation of $2.2bn, led by BOND. It opened a London office in 2024 to serve customers in the UK, Germany and France.

Centime. Headquartered in Boston, US. Centime is bootstrapped and has raised no outside capital. Its banking products are provided through a US bank partner.

Mimo. Founded in 2023 with offices in London and Stockholm. Mimo is a venture-backed startup with about $29m in equity funding, including an $8.5m round in March 2025 led by Project A with Northzone and Seedcamp. It serves customers in the UK and the Nordics.

AP and AR in one platform or two

When a combined suite beats separate tools such as Tipalti plus an AR specialist

Tipalti is a payables platform. A company that uses it for supplier payments and wants automated collections has to add a second product for receivables, such as Stuut, Kolleno or HighRadius. Each tool then needs its own connection to the ERP, its own customer and supplier records, and its own reconciliation of payments posted back to the ledger.

A combined suite removes that second connection. BILL runs both payables and receivables and syncs both with NetSuite, Sage Intacct, QuickBooks and Xero. Centime runs payables, receivables and cash forecasting as one SuiteApp inside NetSuite, so open invoices and open bills sit in the same cash view. Sage Intacct also includes payables automation in its own financials, which can make a separate AP tool unnecessary.

A combined suite is the better choice when the finance team has fewer than a handful of people, when cash forecasting needs payables and receivables in one place, or when the ERP integration is the main source of errors. Separate tools win when one side of the ledger is far more complex than the other. A business paying contractors in dozens of countries needs a specialist payables platform such as Tipalti, and a business with high invoice volumes, deductions and disputes needs a dedicated receivables engine. Accept the cost of two integrations only when each tool is clearly stronger than the suite at its own job.

Shortlist by company size

Named options and the ERPs each says it connects to

SMEs. BILL is the default shortlist entry. Its payables and receivables products sync two ways with Xero, QuickBooks, NetSuite and Sage Intacct. Mimo targets SMEs and their accountants with payments, cash flow and payables in one product.

Mid-market. Tipalti offers certified connections for NetSuite, Sage Intacct and Xero, and suits companies with international supplier payments. Centime is built as a SuiteApp for NetSuite users who want payables, receivables and cash forecasting together. Stampli connects by API to NetSuite, Sage Intacct and QuickBooks Online, and is Built for NetSuite verified. Kolleno covers receivables for NetSuite companies.

Enterprise. HighRadius sells receivables automation with prebuilt connectors for SAP, Oracle, Microsoft Dynamics and NetSuite. Zip sits in front of the ERP and handles procurement intake through to payment. Stuut and Fazeshift run AI-led receivables for mid-market and enterprise finance teams on top of the existing ERP.

Which AP vendors sell to which company size

The 11 vendors grouped by the company size each one targets

SME fit. BILL sells to small and mid-sized businesses and the accounting firms that serve them. Mimo sells to SMEs and their accountants.

Mid-market fit. Tipalti, Stampli and Centime target the mid-market, and Centime defines it as companies with $10m to $250m in revenue. Kolleno targets mid-sized businesses, and Cleavr targets European mid-sized companies.

Mid-market and enterprise fit. Stuut and Paraglide AI sell to both mid-market and enterprise finance teams.

Enterprise fit. Zip and Fazeshift target enterprise. Monk sells to B2B companies and does not name a company size.

Of the 11, Zip, Tipalti, Stampli, Centime, BILL and Mimo handle payables. Stuut, Monk, Fazeshift, Kolleno, Paraglide AI and Cleavr focus on receivables.

AP vendors by region

Where the payables vendors are based, and which one documents e-invoicing for ViDA and Peppol

US. BILL, Tipalti, Stampli, Zip and Centime are all headquartered in the US, and BILL’s accounting firm network is centered there. Centime’s payments run through US banking partners.

UK and EU. Mimo has offices in London and Stockholm, and its partnership with Froda gives UK SMEs access to embedded working capital. Tipalti publishes UK and EU e-invoicing pages and has a Dutch entity, Tipalti B.V., registered in Amsterdam.

E-invoicing for ViDA and Peppol. Peppol is a non-profit network that lets businesses and public bodies exchange e-invoices and other documents electronically. Tipalti says its customers can receive e-invoices through Peppol once they register with the network, and its EU guide covers requirements in Italy, France, Germany, Poland, Belgium, Spain, Greece and the Netherlands. The EU adopted its VAT in the Digital Age package, known as ViDA, in March 2025. It requires e-invoicing and digital reporting for cross-border B2B transactions within the EU from 1 July 2030, using the EN 16931 standard.

Recent consolidation in AP software

Acquisitions and launches we have covered at Tipalti, Bottomline and BlackLine

Tipalti. Tipalti acquired the treasury startup Statement, announced in June 2025, with terms undisclosed. On 26 October 2026 it launched Tipalti Treasury, an add-on module that shows bank balances across entities and currencies and builds a rolling 13-week cash forecast from bank transactions, ERP data, open invoices and scheduled payments. Tipalti Adds Treasury Management Software to Its AP Platform covers the launch. Days earlier, on 22 October, Tipalti announced AP Agent, an AI agent that runs payables from invoice capture to reconciliation, along with tools that connect its payables data to Claude Enterprise. Our report is Tipalti Unveils AI Agent for Accounts Payable and MCP Tools.

Bottomline. On 14 October 2026 Bottomline said it would embed two Paymode payment types, virtual card and Premium ACH, in the MassPay payout platform. MassPay customers can pay US vendors through them from November 2026, using Paymode’s network of more than 635,000 verified businesses. This is a distribution partnership, not an acquisition. See Bottomline Extends Paymode to MassPay Users via Embedded Payments. Bottomline’s company profile is in our directory.

BlackLine. BlackLine announced its acquisition of NetNow, a Canadian credit risk software company founded in 2022, on 21 September 2026, and has since closed the deal. NetNow automates credit approval before a sale, which extends BlackLine’s Invoice-to-Cash product to start earlier in the receivables cycle. Price was not disclosed. Our report is BlackLine Closes NetNow Acquisition, CFO Prioritizes Integration. On 29 October 2026 BlackLine also said it will host its platform on PREMI3NS, the sovereign cloud from S3NS, a Thales-controlled joint venture with Google Cloud, with Thales as the first customer. That announcement is covered in BlackLine Enters Sovereign Cloud Market With Thales-Google Venture.

Integration checklist

What to confirm with Xero, NetSuite and Sage before buying

Xero. Confirm that the connection is a certified or listed integration, not a file import. Tipalti is certified for Xero, and BILL syncs with it two ways. Ask how the vendor handles transactions that have no supplier: BILL has said that both Xero and NetSuite require a vendor on every transaction. Check how customer payments reach Xero if invoices are paid by card, since Xero offers Stripe for that. Xero completed its purchase of the US payments company Melio in October 2025, so US buyers should ask which bill pay product Xero expects them to use alongside a third-party tool.

NetSuite. Ask whether the product is Built for NetSuite verified, as Stampli and Kolleno are, or runs as a SuiteApp inside NetSuite, as Centime does. Tipalti is verified for NetSuite and NetSuite OneWorld, so multi-subsidiary groups should confirm how payments map to each subsidiary. Check that sync is two-way and covers vendors, customers, purchase orders, bills, invoices and payments, and ask what happens to a payment that fails to post.

Sage. Sage Intacct already includes payables and receivables functions, so confirm which gaps the new tool fills before paying for overlap. Tipalti is a Sage Tech Partner Plus and Stampli is a Sage Recommended Solution. Ask each vendor which direction documents sync: BILL has said document sync from Sage Intacct into BILL is one-way, while QuickBooks Online is two-way.

For all three ERPs, ask for a reference customer on the same ERP and the same edition, a written list of the fields that sync, and who owns fixing a failed sync.

Common questions

Related

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