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You want a procure-to-pay (P2P) software that automates your procurement process and addresses issues like lack of visibility, double payments, and delayed approvals. However, since such a tool has multiple users at different hierarchies and a complex workflow, you often end up with a more complex process if you don’t choose the right software. 

With ad-hoc processes, many issues pop-up: employees wait weeks for approvals, procurement teams have no real-time visibility over purchase requests and don’t know how to prioritize, finance teams get minimal control over expenses, and the entire process is chaotic. Hence, choosing the right procure-to-pay solution requires a focus on ease of use and flexibility. 

In this post, we will share the best procure-to-pay software for businesses in the UAE. We will discuss how P2P software helps with procurement and which tools are worth considering. 

What is Procure-to-Pay Software?

Procure-to-pay software is a tool to automate the complete procurement process, which combines accounts payable (AP) and procurement software. 

Instead of having your procurement processes and data scattered across emails, Jira, different task management tools, and custom ERPs, you bring it onto a single platform. 

By moving from your legacy tools to an automated P2P software, you can:

• automate approval workflows, making the purchase request (PR) process easier and faster. Flexible approval workflows enable all stakeholders to approve requests with a trigger-based flow. 
• integrate with ERPs to maintain a preferred vendor list and manage order items. While most P2P software supports record-keeping only, some allow the conversion of PRs to purchase orders (PO) automatically after approval.
• match the goods received note (GRN) to enable two-way or three-way matching and ensure proper inventory and timely vendor payments. 
• process payments with multiple payment options to avoid delays and foster vendor relationships. It also helps avoid double payments, underpayment, or overpayment. 
• reconcile data faster via integrations with accounting software, enabling more visibility and control. Accounting teams get the right documents, and finance teams get visibility over expenses.

Since legacy ERPs aren’t enough to manage your entire procurement process, adding P2P software makes purchasing and payments easier. 

Top 9 Procure-to-Pay Software

Here is a procure-to-pay software list for companies in the UAE: 

1. Pluto

Pluto is an all-in-one procure-to-pay solution to transform your procurement and AP processes. It sits on top of your ERP as a layer to manage the multiple stages of the procurement process. From automating PRs to setting multi-layer approval workflows and managing vendors, it is the ultimate solution to transform a chaotic procurement process into a faster and more efficient one. 

Key Features:

• Features fully customizable workflows for raising PR and POs, requiring no technical expertise
• Offers a flexible approval engine capable of managing intricate hierarchies
• Enables multi-layer invoice approvals with policies to align with your company's structure
• Ability to upload invoices easily via WhatsApp images, eliminating the need to search for invoice details. Also facilitates invoice capture via emails directly to speed up the receipt capture process
• A centralized dashboard to gather bills in one place and track the status to avoid double payments
• Vendor-specific corporate cards to control budgets and detect irrelevant expenses
• Supports local and international wire transfers to make payments 
• OCR technology minimizes manual data entry by creating and populating bills from invoices
• Supports ERP integration to synchronize your vendors, POs, and bills and integrates with accounting software, such as Oracle, NetSuite, Zoho, Quickbooks, Wafeq, Xero, etc.
• Integrates with payment gateways and accounting software for seamless payments and reconciliation (a feature not available in other solutions)
• Raises alerts for upcoming payments and enables scheduling payments in advance and automate invoices 
• Provides a complete audit trail of the process to ensure visibility at each step
• Shows real-time analytics to facilitate deep insights for supporting budget control

Pricing: 

Request the sales team for a custom quote

Pros:

• More financial control with vendor-specific corporate cards 
• Better Forex rates than most local banks 
• Multiple integration options including Netsuite, Dynamics and more

Cons:

• Slightly longer on-boarding due to unlimited corporate purchasing card offering 
• Directly integrates with all other major ERPs except Tally

2. Order.co

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Order.co is a procure-to-pay platform that provides you access to over 15,000+ vendors in addition to your preferred vendors. It acts as an online marketplace like Amazon or eBay to help you procure items for your business. You add items to the cart, and it enables a rule-based approval system for POs with complete control and visibility. 

Key Features:

• Provides a custom, pre-approved Order.co catalog, including your current vendors and a vast network of 15,000+ vendors
• Supports purchases from multiple vendors regardless of their ordering methods (API, website, email)
• Sources the best prices for your needs to automatically generate POs and set up recurring orders to save time and reduce manual errors
• Offers real-time budgeting and reporting insights by the user, location, cost center, or vendor
• Simplifies payment processing by consolidating all orders from multiple vendors into one monthly invoice

Pricing:

Dependent upon locations and usage; contact hello@order.co for pricing information

Pros:

• Customizable product lists for ordering 
• Easy-to-create customizable workflows
• Ability to categorize purchases and run reports

Cons:

• Set up is confusing and requires customer support help
• Can not order from multiple vendors at the same time

3. Yooz

Yooz optimizes the procurement process by focusing on invoice management.  It is suitable for mid-size companies of all sectors wanting to automate procurement with a cloud-based procure-to-pay solution. It uses artificial intelligence (AI) and machine learning (ML) technologies to enhance security and control in AP automation.

Key Features:

• Enables online, real-time management of supplier relationships, improving communication and collaboration
• Provides mobile access for invoice approval and communication
• Maintains regulation-compliant traceability, ensuring adherence to relevant laws and standards
• Automates real-time general ledger (GL) coding and PO matching
• Captures all types of documents through various channels, such as email, drag and drop, mobile, scan, and secure file transfer protocol (SFTP)
• Integrates with accounting software and ERPs
• Allows users to approve and pay invoices in batches, offering multiple payment options, such as virtual credit card, ACH, e-check, and paper check
• Offers a range of services, including consulting, configuration, training, and user support

Pricing: 

Free trial for up to 15 days followed by a "pay-as-you-use" model. Also offers “gold edition” subscription pricing (based on the volume of documents) for an unlimited number of users and 4 hours of complimentary service

Pros:

• Integrates with Sage Intacct
• Ability to tag people in the comments and email them directly from the invoice
• Numerous criteria available for setting up the approval workflows

Cons: 

• Doesn’t offer payment services in the UAE, so you need to carry out payments on a different platform
• Doesn't have integrations with major vendors as a form of punchout
• Time-consuming to download and export files
• Hard for vendors to send the invoices through Yooz

4. Kissflow

Kissflow simplifies and enhances procurement processes while ensuring transparency and compliance. It helps users automate the entire process without requiring technical expertise or coding experience. It comes with 50+ ready-to-use applications, enabling unlimited automation applications.  

Key Features:

• Offers fluid forms to enable easy capturing, approval, and tracking of PRs
• Allows users to register and maintain vendors with access to multilingual catalogs
• Integration with accounting systems, ERPs, and finance systems like Quickbooks, SAP, and Microsoft Dynamics 
• Accelerates the invoice approval process with timely alerts and automated checks. Connect invoices to contracts, POs, and service entry sheets in a single dashboard
• Customizable reports to visualize data using charts, filters, and heatmaps
• Ability to define and manage budget restrictions with dynamic rules throughout the entire procure-to-pay lifecycle
• Customized approval workflows to ensure transparency with rule-based approval processes
• Smart alerts that provide real-time updates on the status of POs and invoices to keep stakeholders informed 

Pricing: 

Starts at $2499/month (billed annually). Pricing varies based on transaction volume and number of users

Pros: 

• Intuitive interface with a relatively short learning curve

Cons:

• Does not support payment flows in the UAE
• Cost of its license is high (particularly for SMBs)
• Can not handle intricate processes that require a high degree of customization or involve multiple conditional branches
• Customization options are limited, including specific integrations, advanced business rules, or more sophisticated automation capabilities

5. Coupa

Coupa is a cloud-based automation platform to manage procurement processes. It facilitates supply chain optimization by providing visibility and control. It brings consumer shopping ease to the procurement process. With a focus on user adoption, it provides an intuitive shopping experience for employees, making it easier to adhere to pre-approved spending guidelines.

Key Features:

• Simplifies procurement by allowing organizations to track pre-approved spending and get real-time visibility into POs and order lifecycle
• Maximizes pre-approved spend to offer complete visibility over the purchase-to-pay processes
• Promotes user adoption at all levels with an easy-to-use interface, creating value for both employees and vendors
• Provides a centralized platform within Coupa Procure, allowing easy comparison of items across multiple vendors
• Offers real-time budget management with budget meters, allowing organizations to assess budget sufficiency before committing to spending
• Employs AI and machine learning to detect errors and fraud across business spend
• Enables quick notifications of disruptions and allows vendors to confirm availability, minimizing unplanned downtime
• Provides real-time visibility into inventory availability, helping organizations reduce redundant and wasteful spending

Pricing: 

Request the sales team for a custom quote

Pros:

• Several categories and filters in the analytics section to streamline data
• Chat option enables approver and claimant to discuss issues with receipts
• Enables setting up of customized approval chains and including additional new approvers  

Cons:

• Lots of unnecessary notifications, making it difficult to select the ones that need action or comment
• Low receipt searchability, making retrieval time-consuming
• Inconsistent syncing of remit-to address from NetSuite
• Complex to implement and not intuitive, forcing admins to spend more time resolving employees' queries
• Slow customer service 

6. Esker

Esker is a cloud-based automation procurement software. It helps you optimize procurement processes and collaborate strategically with your vendors. With the ability to integrate across various company departments, it simplifies user adoption while facilitating visibility and control.

Key Features:

• Facilitates approval mechanism and GRN matching for each PR and invoice 
• Offers real-time analytics, enabling you to maintain tighter budget controls
• Gives access to products from preferred vendors, aligning purchases with company procurement policies
• Provides a self-service portal, facilitating supplier onboarding, catalog management, and invoice status access
• Customizable dashboards to manage daily tasks, monitor productivity, and identify issues and opportunities as they arise
• Enables you to customize the interface with your company's corporate identity, enhancing the supplier's ability to identify and engage with your organization seamlessly

Pricing: 

Contact sales for pricing

Pros:

• Contains filtered views to allow for focused priorities 
• Auto-sends payment reminders

Cons:

• Gets expensive with each customization implemented
• Doesn’t allow unused/old customer accounts to be deleted
• Integration with accounting software isn't seamless 
• Approval workflow requires a manual trigger to start

7. PayEm

PayEm offers a procure-to-pay solution, covering everything in one place to replace your traditional procurement process. With a core focus on processing PR, it simplifies the creation of POs with custom forms and approval workflows. It facilitates collaboration between procurement and finance teams to enhance visibility and control. 

Key Features:

• Offers custom request forms equipped with conditional logic to ensure a user-friendly experience
• Provides fully customizable automated approval workflows based on factors like amounts, subsidiaries, and stakeholders
• Integrates with communication platforms like Slack and email, allowing request tracking and approvals
• Consolidates all the requests and approvals, simplifying discussions, document sharing, and creating an audit log
• Enables real-time updates and clear overviews of request statuses, minimizing the need for follow-up inquiries
• Offers OCR technology for invoice processing
• Syncs with your ERP and enables exporting reconciled transactions and uploading them to your ERP 
• Automates vendor management with payment scheduling, funds transferring, and limits setting for each vendor

Pricing: 

Request a custom quote

Pros:

• Multiple virtual credit cards for different vendors
• Supports global transactions 

Cons:

• Some vendors don't accept PayEm cards
• High transaction clearing time 
• Limits the user to either a virtual or physical card at one time 

8. Pipefy

Pipefy is an automation procure-to-pay tool to manage end-to-end procurement processes, from PR to paying vendors, to create a frictionless experience. It aims to break silos between teams to simplify purchase and AP. 

Key Features:

• Allows you to create and customize workflows, from purchase requisition to supplier management
• Provides secure portals where records and documents can be organized, ensuring that all information is easily accessible, especially during audits
• Ensures compliance with custom forms that include required fields to accelerate POs
• Enables access to real-time insights to help you forecast ideal quantities and vendors for requisitions
• Evaluates your processes, delivering reliable data to enable strategic and data-driven decisions
• Integrates with your existing ERPs and accounting systems, such as NetSuite, Oracle E-business Suite, QuickBooks, Sage Intacct, etc.  
• Enables deadline alerts, approval flows, and information exchange to prevent late fees and cashing in on early payment discounts
• Offers a customizable dashboard to streamline vendor registration, updates, onboarding, and contract management

Pricing:

Offers three packages starting with a free option for smaller teams, and a subsequent model that costs $20 per month per user and $34 per month per user. Also, offers an enterprise plan with custom pricing

Pros: 

• Offers templates for organizing processes

Cons:

• Complex sign-up process
• Workflows aren’t flexible with difficulty with respect to adding new users and making changes 
• Difficult to import data and search in the database for information

9. Procurify

Procurify speeds up the procurement process, enhances internal communication, and reduces financial risks. It is an easy-to-implement tool that saves time for finance and operations teams. From catalog management to custom user controls, it helps to track the procurement process in real time. 

Key Features:

• Tailors POs to match your internal processes and vendor expectations
• Creates, tracks, and maintains an audit trail of all procurement transactions for transparency and compliance
• Enhances financial controls by enabling PO-based purchasing
• Ensures that requested items are approved against budgets before procurement
• Syncs PO with your accounting system or ERP, whether via API, CSV, flat file, or direct integration
• Integrates with trusted vendors through punchout catalogs to streamline the ordering process
• Enables blanket PO, which involve making multiple purchases against a single PO, even when details of future purchases may be unknown
• Provides PO workflows to save on shipping costs, unlock vendor discounts, and reduce paperwork 

Pricing: 

Starts at $2000/month with a custom pricing tier

Pros:

• Easy-to-make amendments in the original PO
• Enables ordering from multiple websites for resources, including Amazon
• Makes it easy to upload documents to support expense and order reports

Cons:

• Doesn’t offer payment services in UAE, so you will need to carry out payments on a different platform
• Doesn’t cater to the UAE market, and does not support UAE-specific workflows such as VAT management
• Cannot edit orders once they are approved
• Cannot see the order history for a catalog item without running a report
• Physical inventory has to be tracked outside Procurify

Which Procure-to-Pay Software Should You Pick?

Don’t choose a platform that offers the maximum functionality. Instead, choose the one that is user-friendly and flexible. 

Procurement is already a complex process that requires visibility by different stakeholders. Choosing a tool that offers visibility and accommodates complex business needs will help you transform your chaotic procure-to-pay process. 

If you want to get started, book a demo, and our team will help you identify the bottlenecks and make the entire process simpler and manageable.

Processing bills is the most difficult part of procurement. 

Bill payments are often mistakenly duplicated, goods aren’t received as per purchase orders, or there are delays in the approval workflow. 

An automation tool makes the process hassle-free by automating approvals and payments and giving more visibility and control over your accounts payable (AP). It also enhances reconciliation and improves vendor relationships. 

While the core job to be done by an AP manager is to ensure good vendor relationships, manage between timely payments & cash flow, ensure compliance in payments, what you need is a solution that supports your organization’s finances in one place and ends the chaotic back and forth. 

What is Accounts Payable Software?

Accounts payable (AP) software is a tool that helps businesses automate invoice and vendor payments via a centralized platform. It brings together all the key information into a single source of truth and enables teams to do the following:

• Tracks bills and their statuses to avoid double payments
• Enables two-way and three-way goods received note (GRN) & PO matching 
• Supports customizable approval workflows for complete visibility
• Supports local and international payments via various payment methods

Thus, AP software simplifies the payment processes and reduces unnecessary friction between finance, procurement & other teams. 

What are the Benefits of Accounts Payable Software?

Adopting AP software helps you in the following ways: 

• Gives real-time visibility into the status of invoices and payments
• Provides insights into spending patterns, vendor performance, etc.
• Streamlines payment and approval workflows, leading to smoother payment processes and vendor relationships

Top 7 Accounts Payable Software in the UAE

Here are the top 7 AP platforms for businesses in the UAE. 

Based on your company size and needs, you can pick one of these to support your accounts payable.

1. Pluto

Pluto is an accounts payable software that transforms your AP processes by simplifying bill processing. From enabling GRN matching to setting fully customizable multi-layer approval workflows, it is the best accounts payable solution to manage your vendor payments and relationships. 

Key Features:

• Facilitates three-way GRN matching with purchase orders and item-based matching
• Consolidates approved invoices in a single window to highlight pending bills and avoid delays
• Offers a flexible approval engine capable of managing intricate hierarchies without requiring technical expertise
• Enables multi-layer invoice approvals with policies to align with your company's structure
• Ability to upload invoices easily via WhatsApp images and emails directly to speed up the receipt capture process
• A centralized dashboard to gather bills in one place and track the status to avoid double payments
• Vendor-specific corporate cards to control budgets and detect irrelevant expenses
• Enables creation of a preferred vendors list for quick payments 
• Supports local and international wire transfers to make payments 
• OCR technology minimizes manual data entry by creating and populating bills from invoices
• Supports ERP integration to synchronize your vendors, POs, and bills and integrates with accounting software such as Oracle, NetSuite, Zoho, Quickbooks, Wafeq, Xero, etc.
• Raises alerts for upcoming payments, enables scheduling payments in advance and automates invoices 
• Provides a complete audit trail of the process to ensure visibility at each step
• Shows real-time analytics to facilitate deep insights for supporting budget control

Pricing:

‍Request the sales team for a custom quote.

Pros:

• Enables branch- and subsidiary-level spend tracking (not offered by other platforms)
• Offers up to 2% cashback on all non-AED transactions 
• Independent PCI DSS Level 1 certification
• SSO/SAML Capabilities for Enterprises
• Integrates with Netsuite, Microsoft Dynamics
• Better Forex rates than most local banks 
• Multiple integration options

Cons:

• Integrates with all other major ERPs except Tally
• Slightly longer on-boarding due to corporate card offering 

2. Tipalti

Tipalti is an automation tool that supports end-to-end AP processes. It helps you streamline accounts payables and make global payments in local currencies for various recipients, from suppliers to freelancers. The cloud-based platform helps finance teams manage payments without losing visibility and control. 

Key Features:

• Supports supplier onboarding and vetting to ensure supplier reliability and trustworthiness
• Integrates with ERP and accounting systems to help with reconciliation reporting
• Uses OCR to scan, capture, match, and process invoice data to reduce manual errors
• Provides built-in approval workflows and payment scheduling 
• Offers invoice processing, including two-way and three-way PO matching and approval to avoid overpayments
• Assists AP processes for subsidiaries and entities

Pricing:

Starts at $129 per month per user for the platform fee and charges for additional features separately.

Pros:

• Can manage supplier bank account details in a secure environment

Cons:

• Cannot use it for prepayment invoices on inventory purchases with the ERP system
• High foreign currency exchange fees
• Tax forms can be difficult to fill out and very difficult if you do not speak English

3. Airbase

Airbase is an automation solution for managing global AP processes. It focuses on ensuring compliance and syncing with your accounting tool to streamline the payment process. 

Key Features: 

• Offers OCR to populate details, including general ledger (GL) category, date, amount, and purpose
• Supports onboarding with a self-service vendor portal and custom questionnaires
• Has a centralized dashboard with all key information about the invoice to avoid friction 
• Accepts invoices from email or vendor portal across all subsidiaries
• Offers automated approval workflows based on multiple parameters, such as vendor, amount, GL category, etc.
• Enables three-way invoice matching to ensure compliance and reduce wasted spend
• Facilitates payments and approvals, including multi-subsidiary support, international currency, and real-time GL sync
• Real-time audit trail with receipts, notes, and documentation for transparency

Pricing: Request a custom quote.

Pros:

• Intuitive and easy to use; no training or previous knowledge required
• Seamless approval workflows

Cons:

• The mobile app is slow and takes time to load pages 
• SSO-based login is not smooth
• Not suitable for complex branch-level approvals and expenses

4. Ramp

Ramp is an accounts payable solution designed to manage payments and business expenses. It automates bill entries, approvals, and payments while offering complete visibility and control. By tracking each AP step from data recording to approvals, it simplifies payment processing and takes the burden off teams. 

Key Features:

• Uses AI to automatically extract key details from invoices to offer accuracy and eliminate data-entry errors
• Identifies duplicate invoices and helps with two-way matching to purchase orders
• Offers custom approval workflows to minimize errors and ensure timely payments 
• Provides a unified dashboard with visibility into the status of invoices
• Consolidates multiple payment options, such as check, card, same-day ACH, or international wire
• Integrates with accounting solutions, such as QuickBooks, Xero, Oracle NetSuite, Sage, etc. for auto-sync bill pay transactions
• Supports international payment processing in multiple currencies 
• Tracks vendor data and transactions for easy reporting and data-driven decisions

Pricing:

Three pricing packages—free or basic features, $15 per user per month for Ramp Plus, and custom quote for enterprises with features like enterprise ERP integration, custom implementation, and local card issuance. 

Pros:

• Works with multiple subsidiaries
• Offers cash back on credit card purchases made using VISA cards

Cons:

• Can’t unmatch an incorrectly matched invoice (invoice to credit card)
• Approval routing can only be set on the vendor level, not department level
• Limitations in syncing repayments

5. Bill

Bill is a spend management solution for SMBs to control payables, receivables, expenses, and all corporate expenses. It allows businesses to streamline scattered AP processes into a single platform and gain more control over their finances. 

Key Features:

• Enables tailored approval processes to facilitate approvals with minimal hassle
• Streamlines purchase order workflows with the option for automated two-way and three-way matching
• Simplifies expense reconciliation through quick coding and integration with accounting systems
• Automates receipt matching, categorization, and expense reporting, decreasing administrative tasks
• Syncs with all major accounting systems like QuickBooks, Sage, Intacct, and NetSuite
• OCR auto-populates invoices for data entry
• Provides bulk payments of approved invoices with payment choices, such as ACH, credit cards, checks, and international wire transfers
• Offers audit trail of any changes or actions related to the invoice on a single page

Pricing: Provides a free trial and essentials pack starting at $45 for six standard user roles. Its team and corporate pack are for $55 and $79, respectively. Enterprises need to request a custom quote.

Pros:

• One-click swift payments
• Minimum training required
• Easy-to-use mobile app

Cons:

• Customer support is difficult to initiate, slow, and unresponsive
• Frequent changes in the interface create confusion for users
• Limited customization options for reporting 

6. Melio

Melio is a bill payment tool that enables businesses to pay via bank transfer and debit cards. Even when the vendor accepts only checks, it pays checks on your behalf to facilitate bill processing. It processes payments and issues checks without the payee having to use the platform. It is a tool suitable for small businesses to process payments without hassle. 

Key Features:

• Enables payments via credit card even when the vendor doesn’t accept the card to support deferred payments
• Allows inviting additional users (such as accountants) to set up roles and permissions and manage approvals easily
• Supports two-way sync with QuickBooks and Xero
• Facilitates bulk payments and split payments (splitting bills into multiple payments) 
• Offers international payments across the border 
• Raises duplicate payment alerts to assist in fraud detection

Pricing:

Free to process ACH payments to vendors; charges a fee for other payment modes (check Melio pricing)

Pros:

• Offers a free-to-use payment module (only with QuickBook)

Cons:

• Lack of integration with accounting software
• Turnaround time on a check is three business days 
• Support is very limited
• Limits payments to two checks per month 

7. Spendesk

Spendesk automates the AP process by bringing together purchase orders and invoices to facilitate budgets, payments, and approvals. It creates a single source of truth to cut hours of manual work and detect errors better. It is a cloud-based software that improves budget control and financial reporting. 

Key Features:

• Offers a centralized platform for tracking payments right from the purchase order stage 
• Supports invoice capture via email and image/file upload
• Uses OCR to extract key information from the invoice, such as supplier name, amount, dates, and purchase details
• Enables budget changes in real time without a manual data-entry system
• Allows scheduling of payments and matching of purchase orders with the invoice for effective GRN matching
• Provides customizable and built-in approval workflows and controls to monitor spending 
• Raises alerts for duplicate invoices to enable teams to avoid overpayments and defect frauds

Pricing:

‍Request a custom quote.

Pros:

• Super convenient for ad-hoc expenses 
• Intuitive and interactive interface
• Easy manual upload in case OCR doesn’t support receipt capture  

Cons: 

• Glitchy virtual card payments with delayed notifications and declined transactions
• OCR-based receipt capture only works for emails
• Basic features like memorizing accounting patterns for vendors are only available in the paid module

How to Choose a Good Accounts Payable Software

Image Prompt: Create a checklist

Ease of Use

The AP software must be flexible to accommodate complex hierarchies without making it difficult to follow the workflows. It should offer trigger-based workflows and a clean user interface. Your team shouldn’t struggle to learn how to use the product and rely on the support team to get basic invoices cleared. 

Multiple Payment Options

From local transactions to international wire transfers and other digital payment options, AP software must support multiple payment options. It becomes easier with vendor-specific cards that make payments safe and fast. Pluto helps you set up vendor-specific cards, even for public relations officers. This is something most platforms on the market do not support.

Accurate Data Capture

AP software with OCR capabilities makes invoice processing faster and reduces errors. The ability to process invoices from different platforms and sources, such as emails, Slack, and WhatsApp, is required. Moreover, moving these captured invoices into the centralized database and syncing with accounting software eliminates the manual data entry task.

Approval Workflow

Approval workflows are key for timely and accurate payments. An AP software must have a simple no-code workflow builder, even for complex hierarchies. This is especially useful for large organizations where this process can be intricate and long. 

Integration

Vendor payments need to be recorded across accounting systems for effective reconciliation. The AP software must integrate with your accounting systems and platforms to automate data entry and facilitate a synchronized record-keeping system.

Centralized Dashboard

The AP software should offer a dedicated dashboard with all the key information such as vendor, invoice number, status, description, etc. Also, it must give a separate centralized view for expense tracking. This gives you visibility into where you spend the most and helps you optimize resource allocation. 

Supports GRN Matching

The AP software interface must be designed in such a way that it supports GRN matching, both two-way and three-way matching. Be it in the form of OCR invoice capture or offering item-based matching capabilities. This will avoid any under- or over-payments and support a healthy vendor relationship. Also, this eliminates complications in the reconciliation process.   

Reporting 

Reporting capabilities of AP software help to identify the spending patterns and other key insights related to department-specific expenses, budgeting, etc. Hence, AP software must provide a dedicated reporting dashboard with the option to export the reports for enhanced analytics and reporting. 

Transforming Accounts Payable with the Right Software

Accounts payable is not just about clearing bills and vendor payments. It is the basis for vendor relationship management and proper order in financial processes. From getting approvals to matching GRN, you need software that offers ease of use with the right blend of functionality. 

Too complex of a product will leave your employees confused, leading to double work. Lack of customization will have teams work harder to adopt the product. Limited integration will have the accounting department working twice as much on data entry and syncing. 

Make the right decision and choose software that gives you control, customization, security and speed, all while embracing automation capabilities. 

Book a demo and discover how a simple automation tool transforms your AP process.

P-cards can replace your corporate credit cards. 

If you rely on credit cards, you would have 2-3 cards issued to the executives, which are shared with the employees. Though it seems a great method to ensure approval and budget control, it has many loopholes.

The finance teams are running after employees for receipts, employees are waiting on OTPs and approvals, and the CFO is not satisfied with the numbers.

You look for alternatives and land on p-cards. 

P-cards (or purchase cards) are corporate cards you issue to your employees for business expenses. Then, be it purchasing a SaaS or making vendor payments, employees use it for all work-related spending. 

What Is the Difference Between a Credit Card and a P-Card? 

While both cards are used exclusively for business expenses, there are many differences.

Credit cards make expense management difficult, with no visibility into where the money is going. An executive shares a single card with their team, creating a chaotic financial situation. 

The card owner struggles to manage a constant stream of payment requests. Employees are left hanging with delayed payments, waiting for approvals. Especially in bigger companies, finance teams struggle with reconciliation and zombie spending (which is when a company continues to pay for something that isn’t used anymore, or when it pays for services that former employees had used).  

On the flip side, if you use p-cards, you can issue each employee a separate card for corporate expenses. Each card has a specific budget and restrictions to ensure control and facilitate approval without delays. 

For instance, you issue a card with a $500 monthly limit, restricted to office supply vendors like "Office One."

In this way, you manage budget control and approvals without losing visibility or having to micromanage. 

What Is the P-Card Process?

Moving from a credit card to a P-card isn’t complicated. Here is a step-by-step process of how you can provide your employees p cards and start using them:

Step 1: Generate Corporate Cards

The first step is to choose the type of card you want for your employees: physical or virtual. While a virtual card can be set up in under a minute, a physical card takes about 2-3 days to get delivered.

‍

Physical cards work well for those who travel or have on-site jobs, making petty cash management easy. Contrarily, virtual cards support secure online purchases, such as buying SaaS tools or paying for digital advertising campaigns.

Once you decide whom to give a card and what type, set the budget and policies. You can incorporate the following policies to customize the cards:

• Specify the budget and replenishment frequency of the budget on the card- daily, monthly, or yearly.
• Define the purpose of cards by enabling only specific general ledgers (GL), labels, and tax codes.
• Switch on/off the ATM withdrawal option.
• Enable auto-lock for cards in case of receipt policy violation, where if the receipt isn’t attached in 7 days, the card is frozen. 

All these customization options offer you better control without having to chase employees later. Deciding the budget, frequency, and vendors ensures that the card is used rightfully. 

For instance, you would switch off ATM withdrawal for virtual cards that are meant for buying SaaS tools. Likewise, you can establish a monthly replenishment schedule to maintain sufficient funds while preventing excess spending.   

Apart from this method, your employees can also request to activate the P-cards. They explain the card's purpose, after which the admin can approve/reject the request. 

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Now that the employees have cards in their hands, let’s see how you can better manage corporate spending with them. 

Step 2: Manage Expenses Via Centralized Dashboard

Every expense on the corporate p-card is visible in real time on a centralized transactions dashboard. You get key information such as merchant name, expense category, card information, amount, and approval status.

Along with this dashboard, you get a dedicated tab for each expense where all its information is available. 

You can review the key information such as receipt, department, merchant, date/time, expense category, etc. you can also download the receipt, approve/reject the expense, and check the activity log. 

The activity log keeps track of all the conversations that have been happening with a particular transaction. Traditionally, companies use email and Slack, which makes communication messy. With this log, they can keep all their conversations and important information in one organized place. 

Step 3: Create Approval Workflows

Approval workflows ensure that each expense follows a defined hierarchy for approval by the right stakeholders. You can customize them depending on different amounts, departments, and other factors. 

It is a simple no-code system where you create workflows based on if-then rules.

A custom approval workflow ensures timely and effective approval without having to run after dedicated team members. Each of them receives a notification as soon as the expense takes place, and they can approve it easily. 

Approvals and employee reimbursement become easy with a frictionless workflow like this. 

Step 4: Report and Reconcile Expenses

Integrating your cards with your accounting systems becomes the last step to facilitate reporting and reconciliation. 

Once you integrate with your accounting software, you can enjoy complete visibility and control over your corporate expenses. 

You get a dedicated insights window to track expenses and identify trends. You can add custom filters and export these for further analysis. 

To understand the entire process better, book a demo and see how you can benefit from switching to a corporate p card. 

Why Shift From Traditional Methods to Corporate P Cards?

Credit cards seem simpler, where a bank gives a few credit cards to share among the teams. But here’s why it doesn’t work:

• It is difficult to track who spends what, how much, and why.
• Employees wait for OTPs and approvals, delaying payments and reimbursements.
• The chances of zombie spending increase because the same card is shared. This also becomes one of the loopholes which leads employees to misuse the cards.
• The admins have to chase employees for receipts during reconciliation.

While these are just a few, relying on credit cards can cause chaos in expense management. Here are some reasons corporate p-cards are a more suitable option today:

No More Shared Cards

You ditch the whole system of sharing credit cards, which is the root cause of limited visibility. With corporate p cards, you can issue any employee a dedicated card for specific expenses. 

So, if you issue Rashid from the marketing department a virtual corporate card for running Ads, he can not use it otherwise. He will be accountable for any unnecessary expenses beyond the specified budget.

This means more visibility and control over corporate expenses.  

Easy Receipt Management

Corporate cards make receipt management easier with OCR technology in the following ways:

• Submitting expense reports at the end of the day becomes easier as it auto-populates all the information
• Uploading receipts in bulk upload with OCR handling the rest makes the process faster
• Detecting duplicate receipts becomes simpler as OCR eliminates the risk of manual errors 

Apart from OCR, you also get the option to split the transactions to make the accounting process easier. Here, for each transaction, you can split the amount into a separate category, GL account, tax code, etc. 

For instance, a $300 expense can be split into $200 for software purchases and the remaining $100 as consulting fees. Each will have a specific category, GL account, and corresponding tax code.

Budget Control

Corporate cards give more visibility and control over finances. 

Although both credit cards and p-cards can have specific budgets, p-cards enable you to set specific policies and rules. 

For instance, you give an employee a $1,000 monthly budget but restrict them to using the card only for office supplies purchases. 

Similarly, you can set a $500 monthly limit for marketing expenses and restrict the card to "Ad Campaigns" and "Promotions," ensuring focused spending.

Another benefit is to assign monthly, yearly, and weekly budgets.

For instance, you can allocate an annual budget of $500,000 for the marketing department but assign a weekly budget of $10,000 for ad campaigns. 

This facilitates flexibility for the teams to function better and gives the finance team more control over resource planning and allocation.

WhatsApp Integration

Receipt uploading becomes simpler when all you have to do is click a picture on WhatsApp and hit send. 

After each transaction, employees get a notification to upload the receipts via WhatsApp. With this simple integration, receipt capturing becomes simple and fast. 

Not only is the receipt captured, but stored under the relevant transaction tab with all its information intact. OCR makes it easier to extract key details and populate expense reports. 

Admins can approve these expenses, and reconciliation becomes a breeze. 

Eliminate Corporate Card Fraud

P-cards give you more control and security. From setting custom policies to raising alerts in case of duplicate receipts, p-cards ensure that employees don’t misuse the cards.

Additionally, the custom approvals workflows and dedicated activity logs reduce the chances of oversight. This system helps prevent unauthorized spending. 

For instance, an employee tries to use the card for a personal expense, like an expensive dinner. 

The custom approval setup will alert the admins. The active activity log with documented conversations will further ensure that no personal expense is charged on corporate cards. 

Get the Most Out of Your Corporate Cards 

Transitioning from credit cards to corporate p cards can be an exciting move. But to make the most of it:

• Set an expense policy outlining the guidelines that will govern the corporate cards. This practice will also become the pillar for a healthier financial environment to support internal control over financial reporting (ICFR) efforts.
• Understand the hierarchies in the company to create approval workflows accordingly. Find a balance between control and micromanagement. Managers should be informed about expenses without being excessively involved in them. 

Do this right, and you will have better visibility and control over your finances. The employees will not be left hanging for approvals. The finance team will be at peace, and the CFO will have more faith in the numbers.