Integrating third-party AP automation software with Acumatica Cloud ERP produces even more efficiencies and benefits than using Acumatica core accounts payable functionality alone.
This article describes Acumatica ERP (enterprise resource planning) software, the minimal AP automation Acumatica ERP provides alone, how to further automate AP and invoice processing for Acumatica, and top AP automation integrations for Acumatica that may fit your business needs.
A Quick Overview of Acumatica
Acumatica was founded as a company in 2008 and is based in Kirkland, Washington. Acumatica ERP integrates with AP automation, eCommerce, and other third-party add-on software.
The Acumatica solution is scalable, modern Cloud ERP software that serves small and mid-sized companies in these and other industries:
- Retail and eCommerce
- Distribution
- Manufacturing
- Services
- Construction
Acumatica provides industry-specific software editions. Its Retail edition integrates with Shopify, BigCommerce, and other eCommerce platforms to set up online stores for conducting business and operates backend processes like orders, fulfillment, invoicing, and inventory control. Acumatica’s manufacturing ERP software adds features that companies producing their own products for sale need.
Acumatica product solutions by functionality include:
- Financial Management
- Multi-Entity and Intercompany Accounting
- Project Accounting
- Payments
- CRM
- Payroll
- Reporting, Dashboards, and BI
- Inventory Management
- Warehouse Management System (WMS)
- Order Management
- Commerce Connectors
- Point-of-Sale (POS)
- Construction Management
- Manufacturing Management
- Service Management
Acumatica provides user dashboards with KPIs that are customizable by user role. The Acumatica SaaS pricing model is unique because it doesn’t charge by the number of users.
Does Acumatica Have AP Automation?
Acumatica Accounts Payable has some basic AP automation features but doesn’t provide the robust capabilities of integrated third-party add-on AP automation software. Acumatica’s basic accounts payable automation features are:
- Automating receipt of invoices into the system
- Attaching source documents to invoices
- Streamlining and automating invoice approval processes
- Providing Acumatica Self-service Portal for viewing invoices, making payments, and storing credit cards
With Acumatica alone, accounts payable is still the most time-consuming function in finance because humans are still needed to complete and expedite tasks in the payables processing cycle.
Automate AP and Invoices for Acumatica
AP automation software streamlines workflows in the accounts payable process and replaces time-consuming, paper-based, manual data entry processes with digital transformation and automated invoice processing. AP automation is often powered by artificial intelligence/machine learning and RPA (robotic process automation) technologies.
Third-party AP automation software with Acumatica integration completely fills gaps in accounts payable automation compared to using Acumatica ERP alone. Tipalti outlines the additional features that Tipalti integration with Acumatica ERP adds to let Acumatica users achieve holistic AP automation. Read the details in Tipalti’s eBook, “The Last Mile of Acumatica.”
Third-party AP automation solutions are cloud-based software integrated with your ERP or accounting system. AP automation may add a supplier portal with self-service vendor onboarding and W-9/W-8 collection and supplier payments tracking, invoice data capture by line item and headers (using OCR), an electronic documents repository, added automated fraud risk and error detection, 3-way or 2-way invoice matching, automatic GL account coding, automated approvals routing (like Acumatica), global regulatory and tax compliance features, global payments, supplier payment status notification, spend management, real-time dashboard and analytics, and automated payment/AP reconciliation.
An AP automation solution will help your company save time and money via cost savings, reduce AP team hiring and operational costs of payables processing, and improve your company’s cash flow.
Save more time for strategy and spend less on manual tasks.
Add efficiency and controls to Acumatica with AP automation. Learn how Tipalti can help.
Top 4 AP Automation Integrations for Acumatica
Some top Acumatica AP automation integrations are:
#1 Tipalti
The cloud-based Tipalti AP automation software integration with Acumatica is scalable, meeting the needs of fast-growing companies expanding globally. Tipalti fits the needs of multi-entity mid-size and larger companies seeking an end-to-end accounts payable process solution from digital invoice data capture to global payments. Small businesses poised for a rapid, high-growth path also benefit from using Tipalti AP automation.
Tipalti AP automation provides a scalable end-to-end payables/touchless automated invoice processing solution that will meet your business needs for becoming a growing multi-entity, global company.
Features
- Self-service supplier portal for onboarding, W-9/W-8 IRS tax form collection, and payment information, with supplier validation
- Supplier visibility into payment status
- AI-driven/OCR invoice data capture with line items and headers via email or portal upload.
- Touchless, automated invoice processing with AI-automated GL account coding
- Automated 3-way or 2-way invoice matching
- Guided approval routing and anywhere approvals
- Fraud risk detection, duplicate invoices, and error exceptions flagging, using 26,000+ payment rules
- Global payments in over 190 countries and 120 local currencies, with a choice of available electronic payment methods
- Multi-entity capabilities
- AI-driven business intelligence for business spend, real-time dashboards, and analytics
- Automatic real-time payment reconciliation with the Acumatica general ledger
Pricing
Tipalti subscription pricing starts at $129 per month for the basic AP automation platform, letting your company add features as needed. The entire Tipalti finance automation platform for Tipalti software products is a unified system that works with your Acumatica ERP system (and other ERPs). Get a custom quote from the Tipalti sales department.
#2 CoreChain Pay
CoreChain Pay is a secure cloud-based AP automation solution with the first embedded B2B payments network built on the blockchain, with its digital xRP platform. CoreChain Pay, the direct-to-customer automated embedded payments processing solution for the AP process, launched in April 2023. The CoreChain company was founded in September 2020.
Features
- Distributed ledger technology (DLT) using blockchain trust network
- Onboard suppliers
- Import payment instruction file (PIF) from ERP
- Pay vendors
- Choose a digital payment method, including the CoreChain virtual card, ACH+, and virtual check.
- View payment status of invoices, with change history
- Supply chain financing with working capital solutions for suppliers and companies, including a line of credit based on the payments volume and PO activity
- Dashboards with KPIs and spend analytics
Pricing
CoreChain Pay pricing is based on custom quotes.
#3 Yooz
Yooz is AP automation software for the entire Purchase-to-Pay (P2P) process. Yooz uses AI and RPA technology for automation.
Features
- Multichannel document capture
- Yooz Fake Detection of forged documents and authentication of original document
- Automated GL coding
- Automated goods receipt and purchase order (PO) matching of invoices (with AP document recognition)
- Email and notes for collaboration
- Digital filing cabinet for documents
- Automatic detection of inconsistent data and duplicates
- Smart workflows to approve or reject purchases, invoices, and payments
- Audit trail, legal archiving, timestamp
Pricing
Yooz offers a free trial and a SaaS pricing plan called Gold Edition. Pricing is for an unlimited number of users and the volume of documents processed. Subscription pricing is via a custom quote.
#4 Timberscan Titanium (by AvidXchange)
Timberscan Titanium is a cloud-based platform for the construction industry that automates the entire AP/purchase-to-pay cycle when combined with AvidXchange’s payment automation solution called AvidPay. The following features list relates to using these combined AvidXchange products.
Features
- Digital invoice data extraction with OCR technology
- Match POs with invoices (two-way or three-way matching by adding receiving report matching)
- Automated vendor invoice routing for approvals
- Automated vendor payments
- Real-time status of invoices and payments
- Integrated job-cost coding
- Custom workflows and routing rules
- Lien waver management
- Centralized electronic documents
Pricing
Pricing for Timberscan is by custom quote.
Which AP Automation Integration Suits Your Business?
When deciding on the best AP automation integration to fit your business needs, consider these factors:
- Top 5 must-have features and desired features list
- Fraud risk and error reduction
- Enterprise-grade security
- Scalability to meet business growth
- Customer service satisfaction and customer retention rates
- Money transmitter licenses
Your company’s must-have and desired features may include:
- Self-service supplier portal for supplier onboarding, payment information, and payment communications status
- Supplier tax compliance simplicity
- Automated invoice processing, including invoice capture, 3-way or 2-way matching, guided approvals, and global payments with fraud and error detection
- Multi-entity, multi-currency, and optional advanced FX capabilities, including a centralized virtual global payment account and payables hedging
- AI-driven real-time business intelligence and analytics
- Global regulatory compliance automation
The needed and desired features list should be summarized from results obtained through employee stakeholder collaboration throughout your business. Ensure that the AP and accounting automation solution is being used in your industry. Review customer testimonials in case studies and consider directly contacting other users in your industry.
Tipalti AP automation and advanced FX products likely provide the necessary solutions. Tipalti has a 98% customer service satisfaction rate, with 7/24 availability. Tipalti has a 98% customer retention rate and provides its unified finance automation software products to over 3,500 customers. Request a demo to find the best solution to your company’s AP automation needs.
