Other Alternatives and Competitors to Bill.com
Plooto is a powerful accounts payable and receivable platform that helps a business gain total control and visibility into cash flow management. It supports 120,000+ vendors and suppliers, and 6000+ businesses, with enhanced financial controls that keep operating costs low. Plooto facilitates faster AR and AP cycles, reduces errors, and lowers costs per transaction.
- Automatic reconciliation with integrations that keeps your books consistent.
- Two-way sync eliminates data entry and manual inefficiencies.
- Custom approval tiers to review payments before any funds are transferred.
Small to medium businesses that want to facilitate AR/AP workflows and keep operating costs low.
- Real-time payment tracking so you never worry about where your money is.
- Simplifies payment workflows to reduce touchpoints for every transaction.
- $25 per month and $0.50 per domestic transaction after 10 free payments.
- $9.99 per international transaction.
- $1.99 per check payment.
- $3 CRA payments (in Canada).
Spendesk is an all-in-one spend management platform for modern accounting teams. Easily verify your business and load funds to your Spendesk wallet from any existing bank account. A one-click feature can export all payments and receipts to your preferred integration. Additionally, employees can request funds, submit receipts, and pay securely with the Spendesk app.
- Track spending in real-time to stay in control of budget.
- Empower teams with budgets and pay with virtual cards, expense reimbursements, and digital invoices.
- Smart subscription management visible in one central dashboard.
For fast growing start-ups to mid-sized businesses with complex spending needs and payment controls.
- A 7-in-1 solution with processes and payment methods that go hand-in-hand
- Built-in processes help to control all payments, from approval to accounting, in one central tool.
- Flexible pricing for companies of all sizes.
- You need to call for a custom quote or to book a free demo.
Docuware provides cloud document management and workflow automation that enables a company to digitize and secure business documents, then optimize processes. It also boasts self-learning intelligent indexing to match invoices with related P.O.’s. Docuware is a great solution to support your mobile workforce and securely archive critical forms.
- Reclaim early payment discounts to build a stronger position for negotiating prices.
- Automate workflow and exception handling with approvals based on amounts and custom data.
- Support self-service to empower employees, from basic searching to portal integration.
- Business of any size that wants to free up time to focus on work that drives productivity and profit.
- Strong enterprise feature set with impressive document importing and forms handling capabilities.
- Scalable subscription and licensing model ideal for staying on top of contracts.
- Used in over 70 countries, easily automate document-centric processes with just a few clicks.
- Quote-based with a free demo and 30-day trial.
- DocuWare Cloud is $300/month for a small business with up to four users and 20GB of storage.
Plate IQ is a foodservice industry platform that turns invoices into predictive insights, with every document searchable and secure in a digital filing cabinet. The system speeds up invoice data capture through OCR (optical character recognition) and allows managers to capture important business documents on their phones.
- Schedule payments with checks, ACH, and Plate IQ virtual cards (up to 1% cashback).
- Machine learning and workflow process to automatically detect/flag duplicate invoices.
- Sync corporate cards for real-time visibility on your spend.
Small to midsize companies in the foodservice industry that want a single platform to handle the entire process, from invoice digitization to bill pay, including mobile capabilities.
- Enable a remote accounting team to scan invoices and receipts without manual data entry.
- Data is quickly imported into the cost management cloud dashboard with smart bill pay insights.
- Quote-based and you need to call.
- Plate IQ integrates with Square and on their site, it’s listed as “Plate IQ Daily Sales costs $20 per month.”
Tipalti modernises financial operations while providing a payment gateway to help your business grow. The end-to-end solution functions seamlessly in a unified cloud platform with built-in tax compliance. From virtual payment services* to AP automation and digital marketplaces, it’s a robust solution that delivers a white-label experience across the globe.
- A 360-degree view of the AP process with an intuitive and user-friendly dashboard.
- Self-service supplier onboarding and tax compliance validation.
- Effective global mass payments and fraudulent payment risk reduction.
Small, medium, or enterprise companies looking to make the AP process faster, safer, and more efficient through automation.
- Speed up financial close with instant payment reconciliation down to the transaction level, then synchronize data with an ERP.
- Reduces payment error rates by scrubbing data against 26,000 rules.
- Tipalti Express and Tipalti Pro.
- The Express version offers straightforward payment capabilities, while Tipalti Pro has features like tax forms, multi-entity payables, and international tax IDs.
- The pricing for each package will vary depending on needs, processing requirements, and the number of users.
Selecting a Bill.com Competitor
This is where teams employ a hybrid approach to AP automation by leveraging software technology in addition to manual accounts payable operations.
Bill.com vs Tipalti
What does Tipalti do?
Tipalti Product Capabilities Overview
Tipalti addresses everything from PO management, supplier onboarding and vetting to tax and regulatory compliance, invoice processing, 2&3-way PO matching, intelligent approval workflows, and payments to suppliers in various payment methods to 196 countries and 120 currencies, supplier payment status communications, payment reconciliation, and reporting.
Tipalti also offers advanced global AP capabilities, such as early payments, multi-entity AP, Multi-FX, and FX-hedging. Tipalti integrates with all major ERPs and accounting systems, syncing with subsidiary GL ensuring payables information is up to date and accelerating financial close by more than 25%.
TrustRadius’s #1 Accounts Payables Solution:
1st Place – Best Feature Set
1st Place – Usability
1st Place – Customer Support
What does Bill.com do?
Bill.com is a provider of cloud-based financial software for small businesses. Customers use the Bill.com platform to manage financial workflows and process payments. Bill.com’s financial software platform creates connections between businesses and their suppliers and clients. It helps manage cash inflows and outflows.
Features of Tipalti vs. Bill.com
Although Bill.com and Tipalti both help companies automate their accounts payable processes, each platform is designed with different features and solutions for finance teams. Here’s a look at some of the differences between Tipalti and Bill.com.
Tipalti vs. Bill.com—End to End AP Solution Competitive Analysis
Global ACH (eCheck), US ACH, Wire, PayPal, Check, and prepaid debit card
ACH, limited Wire, Check, Vendor Direct (virtual card)
|Global Payment Coverage||
Paying to 196 countries in 120 currencies
Only available for US companies to wire to 137 countries
|Touchless Invoice Processing||
OCR (Header and line level scan and capture), machine learning, managed services
Header level only OCR and basic managed services
No charge for bill approvers approve bills via email with no login required
No invoices approvers pay a fee of $39/m, login required, cannot approve via email
2 and 3 way PO matching
2 way PO matching
|Supplier Onboarding and Vetting||
Effortlessly onboard vendors with a client-branded portal, preferred payment method, currency, and payment thresholds. 26K+ rules validate payments, screen against OFAC/SDN lists
Limited customization, no tax and payment validation rules
Support for custom fields
No support for custom fields
|Multi-Entity Payables Reconciliation||
Manage multiple entities in a single instance with a consolidated view, instant reconciliation across entities and payables workflows
Multi-instance, no tax, branding integration sync
KPMG approved tax engine, collect W8 & W9 tax forms, collect and validate IRS and VAT tax ID, 1099 & 1042 prep reports and withholding. Validates against 3,000+ rules
Tax is managed via a separated app, no W8 collection, withholdings, validation
|Payee Fee Splitting||
Fee splitting allows payers to incent payees to adopt safer, more efficient payment methods
No fee splitting option
Knowing Which Solution is Best for Your Business
Selecting the AP Automation solution that fits your business’ needs is an important choice, especially for growing teams that need a solution that can scale with their business. Your business may also need specific features such as international payment capabilities, Multi-FX Multi-Entity, or tax and regulatory compliance. Evaluate these feature differences to help guide your decision.
When to Choose Tipalti?
You are running a hyper-growth business, whether you are scaling domestically or expanding internationally.
If you run a hyper-growth business, whether scaling rapidly domestically or expanding internationally, you need a payable solution with built-in scalability to help future-proof your payable operations. As your company grows, your AP workflow complexities increase, including paying global suppliers, handling multi-subsidiary business payables, and processing many payments. You also need to offer a vast range of localized payment methods to pay your domestic and global suppliers in their preferred payment methods and local currencies.
Tipalti’s end-to-end accounts payable platform future proofs your payables operations, so you don’t have to keep throwing more resources as you grow. Tipalti’s Multi-Entity capability enables payers to manage a large number of entities within the same instance of Tipalti, enabling centralized controls and financial reporting.
Tipalti’s advanced capabilities also include KPMG-approved tax capability for IRS compliance, collecting and validating IRS and maintaining W-9, W-8 series forms, VAT details, generating 1099 / 1042-S preparation reports, and calculating any necessary withholdings.
While Bill.com can only be funded in USD, Tipalti can be funded in 28 currencies instead of only in USD. Tipalti executes fast global payments to 196 countries in 120 currencies. Payments can be made in multiple international payment methods—global ACH (eCheck), wire transfer, PayPal, and prepaid debit card. You can also streamline your FX conversation workflow with advanced FX capabilities such as Multi-FX, FX hedging, and Payee FX optimization.
You want to automate your entire workflow and accelerate financial close.
Accounts payable processing comes with many potential inefficiencies that increase the workload of your AP team, as manual operations increase complexity and slow down the financial close process.
Tipalti makes AP processes invisible by cutting out the manual work and wiping out 80% of the workload managing payables, so you can align your resources to focus on mission-critical activities instead of back-office financial operations. Tipalti enables a complete touchless invoice processing workflow with machine learning (ML) powered OCR technology that captures both the header and line-level details. 2-way and 3-way PO matching allow automated syncing of POs and GDRs from your ERP to Tipalti to complete the PO match flow, helping eliminate overspending and strengthen financial controls.
Tipalti also helps streamline the supplier onboarding process with a self-service, white-labeled portal, enabling faster, more accurate payee data collection and verification. Provide visibility into payment status via a 24×7 multi-language partner portal and proactive automatic payment status emails. Tipalti automatically validates supplier payment data in real-time using 26,000 global banking rules to eliminate payment errors proactively.
Bill.com has payment limits, so larger payments are processed slowly. For Tipalti, there are never limits on individual payments regardless of the volume and amounts of the payment, as Tipalti has a complete compliance screening process upfront and a separate Tipalti funding account that you wire or ACH funds into.
You can accelerate financial close by more than 25% as payment methods, currencies, subsidiaries, and geographies are combined and reconciled in real-time for instant visibility. Detailed transaction and reconciliation reports are integrated with your ERP system to provide a consolidated view of all payable accounts.
You want to strengthen compliance and controls and reduce Tax fraud and audit risk.
Since AP involves direct access to cash reserves, it’s critical to institute proper controls and governance. Tax compliance is another crucial aspect as manually collecting and validating tax forms from suppliers is fraught with legal and financial risk.
Tipalti provides granular controls over payables and payment operations to increase the security of sensitive financial data, ensure ongoing OFAC compliance, and improve management oversight of key AP processes. Tipalti enables you to strengthen control with built-in Artificial Intelligence, and Machine Learning constantly improves performance for invoices approvals routing, including the ability to incorporate Fixed Approval Roles.
Tipalti solves the complex, highly-manual process of collecting tax information through digital capture directly during the onboarding flow, ensuring information is validated before payment is ever processed. Help ensure IRS tax compliance with KPMG-approved tax form data validation and withholding calculations. Collect W-9, W-8 tax forms, validate IRS and VAT tax IDs, automatically calculate withholdings and generate 1099 / 1042-S tax prep reports with automated filing.
When to Choose Bill.com?
You are a domestic, small and slower growth business, and you are OK with managing some workflows manually.
Bill.com is suitable for slower-growth small businesses with low payment volumes and limited remittances capabilities. The average revenue per customer of Bill.com is $1,500. Therefore, many AP automation capabilities are not available via Bill.com, so you need to manage them manually or outside of Bill.com.
For invoice processing, Bill.com’s OCR technology only captures header-level details but not line-level detail. Bill.com also requires invoice approvers to be registered Bill.com users, which carries a user fee of $39 per month. Bill.com doesn’t support 3-way PO matching.
Bill.com doesn’t have built-in tax compliance capabilities and tax rules validation to help ensure IRS compliance. You need to manage tax compliance via a separate app outside of Bill.com and require an additional upgrade.
There are other limitations to Bill.com’s AP capabilities—No payment approval workflow, no support of custom fields, and no payment validation rules to reduce payment errors proactively.
You do not run any operations outside of the US.
Bill.com has very limited global capabilities to help support your operations outside of the US.
Bill.com lacks Multi-Entity capability. Payers need a separate instance of Bill.com for each entity, so payers can’t instrument centralized controls and will have to reconcile payable data manually for each entity.
Bill.com also does not support multi-entity branded communication. If you manage multiple brands across regions, your payees might not be familiar with the managing entity, which can create confusion.
International payment options are limited. Bill.com only offers wire transfers for US-based companies to pay to 137 countries but does not offer other lower-cost options such as PayPal and global ACH (eCheck).
You are processing smaller supplier payments and your suppliers do not demand prompt payments.
With Bill.com, payments delivered to your payees are delayed and slow because it relies on pulling funds one by one from the client’s accounts as an ACH pull. Your payees have to wait several days for funds to clear while Bill.com sends instructions to their bank partners to pay. For larger payments (over $5,000 for regular ACH), it takes two additional business days to process. This is a burden on suppliers who are already subject to Net 30/60/90 terms and have their own cash flow issues to overcome.
A slow or delayed payment processing time is not ideal if your business is growing and you want to create a world-class supplier experience to support your business. If you want your payments to arrive earlier, you need to pay an extra $9.99 per payment to use the Same-day/Next-Day ACH option. But it does not allow payments of more than $25,000.
Early payment options are not available with Bill.com.
4 Signs You’ve Outgrown Bill.com for Accounts Payable
For many small businesses, Bill.com offers an adequate means to pay their supplier bills and maintain some lightweight bookkeeping. This is important because many smaller businesses don’t have the headcount to spend on a fully staffed accounts payable operation.
But what if your business is growing? Shouldn’t your accounts payable process grow with you? Here are the four most important signs that your business is outgrowing Bill.com.
Struggling to Pay Global Suppliers
Bill.com can pay internationally via wire transfers, but some growing businesses need to manage and remit payments to more countries across more payment methods. Tipalti makes payments to 196 countries and in 120 local currencies for worldwide coverage.
Overwhelmed by Volume of Payments
Imagine making over 100 payments at a time with Bill.com. Difficult, to say the least. You employed AP automation to make paying suppliers easier, but growing businesses need to scale more efficiently. It’s time for a solution that’s built to pay thousands.
Demanding Deeper Financial Controls
Bill.com has a limited accounts payable workflow. Access permissions are not granular. Growing organizations need more levels of control and auditability when more people are part of the payment lifecycle. Tipalti brings enterprise-level financial controls to ensure security and flexibility.
Increasing Number of Reconciliation Headaches
When it comes to clean payment reconciliation, you don’t want to chance it. Data sync issues with banks and gaps in knowledge affect your ability to close your books. Tipalti knows the true payment status because payments are drawn from a managed account.
“In our old system, Bill.com, it was difficult to create all of our payments. We work with a lot of international partners & suppliers, and we need to pay these people in different markets. If we can’t pay them effectively, it limits our reach. We used to spend three hours a week making payments. Now, it’s down to minutes, which has allowed us to reduce our payables workload by 95%”
– Leslie Pesante
Head of Finance, SkillShare
“Having all our payments processed on time has alleviated the manual work for my team. Now, they can grow in their career and build longer relationships with the company. When a company is scaling, you need smart systems in place. We don’t want our team to get stuck in a role they can’t grow out of.”
– Courtney Santry