5 Best Competitors and Alternatives To Libeo
Libeo offers B2B software for both accounts payable, accounts receivable, and payments. Geared towards smaller organisations, Libeo claims a customer base of 150,000 start-ups, SMEs, and book-keeping/accountancy firms, largely in the B2C sector.
Based in Paris, France, Libeo primarily serves the French market, with the software itself available in French language, but Libeo also sells in the UK and wider European markets with its English language solution.
When compared to many alternatives on this list, Libeo is relatively unique in the sense it offers solutions for both payables and receivables. Offering invoice collection, approvals, and outbound payments, as well as automated payment reminders to chase unpaid bills.
Libeo Top Features
– Mass Invoice Import
Utilising OCR data extraction, Libeo reduces the manual keying of invoices by enabling bulk imports from both desktop and mobile devices.
– Bank Integrations
As part of the outbound payment process, Libeo enables you to unify multiple bank accounts within their single platform. View balances for all your accounts within Libeo and schedule the payment of invoices via an intuitive calendar selector.
– Payment Reminders
With a range of integrations to connect your invoicing tool, Libeo enables you to automate the communications required to chase overdue invoices and receive alerts when payments hit your bank account.
There are a range of reasons why businesses choose Libeo. Some advantages include:
- Full French language support, including the software itself, product support, and sales/marketing materials.
- At a fixed monthly cost of £29 per month, Libeo is one of the most affordable solutions for smaller businesses.
- Ideal for businesses utilsing an external accountant or bookkeeper alongside a small internal finance team.
- Unlike some alternatives, Libeo works with your existing bank accounts rather than replacing them. Meaning you remain limited with the payment methods you can offer payees.
- While Libeo’s subscription fees are certainly affordable, by utilising your existing bank accounts, you will continue to be subject to your bank’s own fees on payments, which are likely to prove uncompetitive for large volumes of global payments.
- Comparatively immature automation features means Libeo doesn’t alleviate manual steps to the same extent as many competitors.
Libeo in Summary
Libeo offers an affordable, entry level solution for small businesses, startups, and bookkeepers. However, the flexibility and level of automation means Libeo will struggle to meet the needs of more complex organisations, or those with large volumes of invoices.
5 Alternatives To Libeo
Beginning in Ireland as a storage and record centre and later focussing on document shredding services, Kefron has evolved to offer both digital and physical document management, including invoice management.
Their AP automation offering focuses on alleviating finance teams of paper processes with OCR invoice scanning and online document storage.
Kefron Top Features
– Flexible Invoice Formats
If you receive invoices by email, Kefron enables you to forward these on to their platform. For paper invoices, Kefron offer scanning services. Alternatively, an online AP hub enables you to grant access to chosen suppliers allowing them to upload their invoices directly.
– Managed Learning
While some OCR solutions rely on you “teaching” the solution by manually correcting errors, Kefron’s managed services team are able to manage corrections for you.
– Multiple Integrations
Kefron’s AP solution offers numerous integrations to a range of finance systems and ERPs, allowing you to sync supplier lists, supplier codes, and some tax information.
- Managed services allow you to outsource the manual tasks that Kefron isn’t able to automate.
- Limitless users for the AP hub allow you to encourage as many suppliers as you wish to begin uploading invoices directly.
- In addition to its AP solution, Kefron also offers a number of complementary solutions, such as secure digital mailroom and document scanning, which may be useful for paper heavy organisations.
- Kefron’s solution lacks the more comprehensive procure to pay features offered by some alternative systems, focussing solely on the invoice management stage of the payables process.
- Based in Ireland and with offices in the UK, Kefron currently has very little market presence throughout mainland Europe.
Kefron in Summary
Focuses specifically on invoice management, but lacks the depth of payables functionality offered by many alternatives.
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With a wide range of solutions that cover procure to pay, order to cash, and document delivery, Esker primarily sells to enterprise businesses that include Siemens, PepsiCo, and FujiFilm. Their range of procure to pay solutions cover supplier management, contract management, procurement, AP automation, expense management and payment, and supply-chain financing.
Headquartered in France, Esker also has bases in Belgium, The Netherlands, Germany, Italy, and Spain, as well as North America, South America, and Asia.
Esker Top Features
– Accounts Payable Dashboards
Bold, intelligent dashboards give you access to key AP metrics in an intuitive format. Customisable, these dashboards can be tailored to the specific needs of finance teams, AP workflow staff, and business leaders.
– Esker Pay
Unlike Libeo, Esker is able to process outbound B2B payments via a number of integrated payment methods that includes direct debit, cards, and bank transfer.
– Extensive Product Offering
More than just payables, Esker offers a huge range of tools that covers much of your financial processes. This includes supplier management, procurement, employee expenses, order processing, and accounts receivable.
- With such a wide range of solutions, implementing Esker alongside your ERP is likely to cover the full spectrum of your finance teams needs.
- Based throughout Europe and worldwide, with product support in a large number of European languages.
- An enterprise level solution that’s both complex and costly.
- While Esker does integrate with a number of ERP systems, they do not sell standard integrations for a number of common systems such as NetSuite, Intacct, and Quickbooks.
Esker in Summary
An extensive, rich solution for enterprise businesses, but is likely too complex and expensive for the majority of mid-market organsiations.
Taking a modular approach to each stage of the accounts payable process, Medius offers a range of solutions that they categorise under “spend management”.
Founded in Sweden the company has a significant presence within Scandinavia, but now also serves the Netherlands, Poland and the UK, as well as North America and Australia.
Medius Top Features
– 3 Way PO-matching
Using automation to quickly cross check invoice details against both POs and delivery notes helps mitigate risk of error and fraud.
– Sourcing, Contract Management and Supplier Management
In addition to AP automation tools, Medius includes solutions for sourcing new suppliers, managing, negotiating and renewing vendor contracts, and detailed analysis to determine your most valuable supplier relationships.
– Cross-border Payments
With support for 170 countries and 140 currencies, Medius offers same day money movement without bank charges for most international payments.
- Well suited to organisations making large numbers of cross border payments.
- As a Microsoft Gold Partner, Medius offers extensive integrations to a number of Microsoft systems.
- Tools to source and manage new suppliers and supplier contracts that go beyond what’s offered by many standalone AP automation solutions.
- Lacks pre-packaged integrations for NetSuite, Quickbooks, Intacct, and a number of other key ERPs.
- Requires licensing and implementation of a large number of individual modules in order to cover the full end-to-end payables process.
Medius in Summary
Well suited for organisations needing to make large volumes of international payments, but limited ERP integrations may rule Medius out for many.
A Finnish company selling enterprise software across procure-to-pay, accounts payable automation, and e-procurement. Basware serves large organisations across 70 countries, with offices in 10 European countries, an extensive network of European resellers, and additional offices in India, the US, and Canada.
Basware Top Features
– Committed to France’s E-Invoicing Mandate 2024
As a member of the FNFE, the official French National Forum for Electronic Invoicing, Basware is committed to providing a compliant solution with France’s E-Invoicing Mandate 2024. Essential for French VAT paying businesses in the future.
– Basware Discount
Enables you to develop an early payment program to offer your suppliers, and capture early payment discounts.
– E-Invoicing Network Interoperability
Partnered with 220 global e-invoicing networks, the Basware Network is the largest open commerce network of buyers and suppliers. Basware is also connected to the PEPPOL and Norwegian EHF networks, offering suppliers extensive choice in how they deliver invoices.
- Offers extensive P2P functionality.
- Ideal for French businesses subject to the e-invoicing mandate 2024.
- An enterprise level solution, not suited to businesses processing <50,000 invoices.
- Payments limited to just 4 payment methods, excluding both SEPA and PayPal.
Basware in Summary
For enterprise level businesses processing in excess of 50,000 invoices a year, Basware may be a suitable solution. Particularly those in France with concerns managing future e-invoicing regulations.
Tipalti offers end-to-end payables automation, covering everything from supplier onboarding, procurement, PO management, and invoice processing, to tax compliance and global payments. Tipalti typically serves both traditional invoice-based AP workflows, as well as digital businesses looking to automate invoice-less mass payments to partner networks.
Tipalti Top Features
– Touchless Invoice Processing
Tipalti includes a range of features designed to automate the entire invoice management process. Invoices can be uploaded directly by suppliers, either via email or an online Supplier Hub. OCR scanning then inputs and auto-codes the invoice at both header and line level, while automated validation rules, machine learning and managed services continually adjust and improve the scanning process. Extensive workflows then route approvals according to your own customisable rules, for fast electronic approval.
Tipalti is easily configurable for managing multiple subsidiaries, divisions, global business units, or brands with different AP processes and workflows, while still providing simple, consolidated views and reporting.
– Supplier Onboarding
Reducing the manual work involved with onboarding new suppliers and payees, Tipalti offers a white-labeled supplier portal customisable to your brand. This puts the responsibility of onboarding in the hands of suppliers.
- Well suited to businesses making global payments, with 120 currencies supported, and 6+ international payment methods.
- Customisable multi-entity structures allows for the flexibility of unique payables workflows across entities.
- Extensive ERP integrations include NetSuite, Quickbooks, and Intacct.
- Some issues syncing certain integrations.
- Doesn’t include a reporting dashboard.
Tipalti in Summary
Tipalti is an ideal solution for mid-market organisations experiencing hyper-growth (especially those doing so internationally) but may not suit small or low-growth businesses. It is also well-suited for digital businesses looking to offer exceptional payment experiences in order to maintain and grow their partner network.
Features of Libeo vs Tipalti
Although Libeo and Tipalti both help companies automate elements of their accounts payable processes, each platform is designed with different solutions for varying requirements. Here’s a look at some of the differences between Tipalti and Libeo. Libeo may be appropriate for SMBs with lower volume and lower growth. Tipalti is purpose built for high velocity companies and will efficiently scale with you as your needs grow in volume and complexity.
Onboard payees with a client-branded portal and choice of preferred payment method, currency, etc. 26K+ rules validate payments and reduce errors by 66%. Payees receive proactive, white-labelled payment status email updates and have 24/7 portal access to reduce supplier enquiries
Suppliers receive first payment remittance email with a link to upload IBAN which is verified separately by partner SEPAmail. Payment email notifications. No white-labeling. No choice of payment methods. No 24/7 accessible supplier portal to reduce enquiry
Tax and Regulatory Compliance
Collect and validate VAT tax IDs & details against 3K+ rules, and calculate withholdings
Integrated procurement and payable solution, helping streamline company purchases, improve spend controls, and reduce AP processing time
OCR with header & line level data capture; change logic applied to future invoices using ML; optional managed services to correct exceptions + improve OCR; auto GL coding, 2- & 3-way PO matching, smart / predictive approval routing, direct from email bill approvals / updates & unlimited approvers
Header-level OCR. No machine learning or managed services. GL coding via memorization of prior vendor invoices. No PO matching. Rules-based approval routing. No direct from email approval actions. Unlimited approvers
A UK and EU licensed financial services provider, Tipalti directly handles payments, covering 6 payment methods, 196 countries and 120 currencies. Screen payees against OFAC/SDN lists before every payment
Focus is EUR payments via the SEPA network. USD & GBP payments available via Wise partnership. No screening before payments
Currency conversions without the complications – save time and money on currency conversions. Advanced FX solutions such as Intercompany Bank Transfers, FX Hedging
Reconciliation & Reporting
API integrations with major ERPs (NetSuite, Intacct, QBO & Xero). Seamless integration with all other ERP’s via pre-built connectors using no-code, drag-and-drop interface. PO and GRN reconciliation. Instant payables reconciliation via Tipalti virtual account
Pre-built integrations with QBO & Xero. Payments can be executed via a Libeo wallet or connected customer bank account(s)
Manage multiple entities in a single instance with a consolidated view, instant reconciliation across entities and payables workflows
No support for multi entities, only multi instance setup possible
Early Payments and Fee Splitting
Early payment options allow suppliers to get paid early while earning the payer discounts. Fee splitting allows payers to incent partners to adopt safer, more efficient payment methods
No early payment or fee splitting capabilities
Knowing Which Solution is Best for Your Business
Selecting the right AP and PO management solution that work for your business is an important choice, especially for growing organisations that need to scale their payables function away from manual processes. Your business may also need specific features such as multi-entity capabilities, international payments, fraud prevention, etc. Making these features a priority during the decision-making process will ensure a successful integration.
“I wish we’d known about Tipalti probably a year earlier because we probably would have started (automating) even earlier. It would have saved me a year of every month-end racing around and trying to just make payments, which is not a very useful use of time, particularly if you’re a more senior person.“
– Alex Rogers
CFO, Design Cuts
“It was to a point where either we get someone else in, or we look at a better way of doing something. So, the choice was to invest in Tipalti and not in headcount.“
– Maria Liston