“Have I paid that vendor yet?” you ask yourself as you sort through the dozens of invoices you’ve received this month. Definitely not the way you wanted to spend your Friday afternoon.
As your small business grows, manually managing accounts payable (AP) processes becomes more challenging, time-consuming and error-prone.
Enter accounts payable software. These platforms can automate processes like invoice management and payment processing while syncing to your accounting software to ensure nothing slips through the cracks.
This article offers an overview of the six best accounts payable software solutions for small businesses so you can find just the right platform for your needs. We’ll also give you a list of the features you should look for when choosing a platform, plus tips for how to make your decision.*
Financial admin eating up too much of your time? We can take it off your plate
Automate your accounts payable processes with Juni and free up your day for more impactful work.
*The information about all the platforms discussed in this article was collected between 9 January 2024 and 11 January 2024. This article was written and approved by Juni and is intended as marketing material.
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Whenever you’re researching software, whether that be an accounts payable solution or inventory management platform, you need to be clear on what functionalities your business needs. So before we get into our list, here are some features you should prioritise when selecting accounts payable software:
Let’s take an in-depth look at our list of software. For each platform, we’ll list its features (as well as its limitations), explain how pricing works and point out what kind of business it’s best fit for.
Juni’s platform for ecommerce entrepreneurs comes with automated accounts payable features that can help you run simpler, tighter and more accurate financial admin. With Juni, it takes just seconds to auto-collect, pay and even finance your invoices.
By collecting and scanning your invoices automatically, then pre-filling all the important payment details, Juni saves you time and reduces the risk of human error. You can also automatically import your receipts and invoices with your dedicated Juni inbox for effortless spend management, plus match receipts to transactions.
What’s more, if you need to reduce pressure on your cash flow cycles, Juni offers financing options for certain types of payments, giving you up to 120 days to pay.*
The platform goes beyond accounts payable features, also offering business accounts and cards, features to optimise cash flow management, powerful accounting automations, fast transfers and storefront integrations.
Most suitable for: Ecommerce entrepreneurs and small businesses
Juni has two plan options:
You can try our Scale plan for free for the first 30 days.
Based in Copenhagen, Pleo is a business spending solution with built-in AP automation software. Pleo’s invoice management features make it easy to capture, process, approve, pay and bookkeep invoices in a central location. With over 50 supported currencies, Pleo users can seamlessly pay vendors across the world.
Most suitable for: Companies that need to pay invoices in several currencies
Pleo has three plan options:
Spendesk is a spend management platform with accounts payable features like invoice automation and approval workflows, giving you greater control over the invoicing lifecycle and your AP processes. By using Spendesk, you can minimise (or eliminate) manual data entry for your invoicing processes, plus get real-time insights into your spending patterns.
Most suitable for: SaaS, tech and fintech companies
Spendesk doesn’t list its pricing options, so you’ll have to reach out to sales to get a quote
Sage Intacct’s cloud-based invoicing software helps small business owners and finance teams automate invoice management with the power of AI. For example, simply upload or email an invoice, and the software will automatically extract details and populate fields for your approval. The platform can also detect duplicate invoices, helping you stay in control of your expenses and avoid costly errors.
Most suitable for: Businesses that need powerful analytics tools
Sage Intacct has three plans for its accounts payable software. All plans come with three months free:
While SAP Concur isn’t specifically designed for small businesses, it’s still a good fit for solopreneurs and SMBs looking to automate their AP processes. The platform automates invoicing processes, meaning you can pay suppliers quickly without constantly having to double-check invoices and complete transactions yourself.
Most suitable for: Businesses with immediate plans to scale
SAP Concur doesn’t list its pricing options, so you’ll have to reach out to sales to get a quote.
Visma is the parent organisation for a number of accounting and invoicing solutions across Europe. It has designated products for 15 different EU countries, such as Visma eKonomi, its designated Swedish accounting platform. Visma eKonomi has basic AP features for paying vendors, but it has a range of other accounting features that can help you streamline your financial admin as a whole.
Most suitable for: Small businesses in Sweden
Visma platform prices range depending on which country you operate in and the Visma product you select. Visma eEkonomi has three plans that come with supplier invoicing features:
You can have all the software comparison guides in the world available to you, but if you aren’t intentional about your decision, you may end up choosing software that falls short for your needs. Here are a few steps you can take to help you make the right decision when selecting an accounts payable platform for your small business.
By digitising the traditionally paper-intensive process of handling invoices and payments, AP software is not only more efficient than manual processes, but also minimises the possibility of errors, like a missed or incorrect payment. Having more visibility over invoices, due dates and your general spending patterns can help you maintain tighter control over your financial operations.
But to get the most out of a platform, you need to make sure you’re choosing the right one for your needs. For example, if you run an online storefront, you’ll want to choose a solution like Juni that has the specific needs of ecommerce entrepreneurs in mind.
By choosing a software solution that’s a good fit for you, you’ll make your business more agile, resilient and competitive. Meanwhile, you’ll get back more time in the day to focus on what you most love about running your company, whether that’s marketing your product, interacting with customers or finding ways to scale.
Financial admin eating up too much of your time? We can take it off your plate
Automate your accounts payable processes with Juni and free up your day for more impactful work.
*Juni Invoices is available for EU-based companies only. Media financing is available for companies registered in NL, SE, DE, FR, ES, IT, FI and NO, upon eligibility. Fees and terms and conditions apply. Click here for more details.
Accounts payable automation software helps businesses manage and track the money they owe to suppliers, vendors and other parties. Essentially, this type of software helps business owners and finance departments handle their payment processes by recording invoices, tracking due dates and organising information.
While you can manually manage your accounts payable process, this approach can be time-consuming and error-prone. A better way to keep track of accounts payable is by using specialised accounts payable software that tracks and pays your invoices for you.
You can automate accounts payable processes by using specialised software. These platforms handle a number of tasks, including:
"Only six more to go," you tell yourself as you upload yet another receipt to your accounting software. We all know the pain of searching for receipts across emails and platforms and trying to match them to expenses.
This becomes even more challenging the larger your business becomes and the more vendors you have to pay. You can avoid most of that frustration and wasted time with the right spend management software.
But not all spend management platforms will be a good fit for your business. For example, digital commerce companies need solutions that take into account sector-specific expenses like ad receipts and multiple platform payments, while small businesses need tools that simplify their financial admin, not complicate it.
This article takes a look at the six best spend management software solutions so you can find just the right platform for your needs. We’ll also give you a list of the features you should look for when choosing a platform, plus tips for how to make your decision.*
Spend less time on spend management
With real-time spend overviews, receipt matching automation and powerful integrations, Juni will make you forget what a hassle managing your expenses used to be.
*The information about all the platforms discussed in this article was collected between 17 January 2024 and 19 January 2024. This article was written and approved by Juni and is intended as marketing material.
Before taking a closer look at the tools on our list, here are six features your spend management software (also known as expense management software) should come with:
Bonus: Look out for spend management platforms that come with built-in accounts payable and invoice automation features, which will help you centralise your financial admin and save time.
Now, let's explore the solutions on our list in depth. For each platform, we’ll list its key features (as well as its limitations), explain how pricing works and point out what kind of business it’s best fit for.
Juni helps businesses in digital commerce manage their cash flow, track their expenses and optimise their profits with features that are specifically designed with ecommerce companies in mind.
While it’s not specifically expense management software, you can use the platform for your spend management needs. Juni's goal is to give everyone in digital commerce, from the CFO to the accounting team to marketing managers, everything they need to focus on business growth.
Juni’s expense management features are especially valuable for users who have multiple receipts coming from different media buying channels and online transactions. With Meta and Google Ads integrations, plus powerful receipt matching, expense management suddenly becomes easy. On top of that, you can also manage your unpaid invoices and accounts payable processes within Juni, bringing your financial admin under one roof.
All of this comes with easy access to media and inventory financing for up to 2 million EUR, helping you free up your cash flow and grow your business.*
*Juni Invoices is available for EU-based companies only. Media financing is available for companies registered in NL, SE, DE, FR, ES, IT, FI and NO, upon eligibility. Fees and terms and conditions apply. Click here for more details.
Most suitable for: SMBs and mid-market companies in digital commerce
Juni has two plan options:
SAP Concur helps you streamline processes to deliver efficiency savings, with a focus on eliminating manual data entry, lost receipts and unclaimed VAT refunds. As such, it’s best suited to larger organisations. The platform helps you reduce the risk of human error and compliance issues with automations, plus the software can identify potential mistakes and discrepancies in real-time.
Most suitable for: Larger and enterprise organisations
SAP Concur doesn’t list its pricing options, so you’ll have to reach out to sales to get a quote.
Zoho Expense is the business expense tracking app from the Zoho suite of business tools, which means it integrates with Zoho’s other financial management apps. It’s a reasonably priced platform suited to handling all aspects of expense management and reporting for SMBs. Zoho Expense automatically records expenses from receipts, simplifying and automating the expense reporting process.
Most suitable for: People already using other Zoho products (namely Zoho Books)
Zoho Expense has three plans for its spend management software:
Expensify is a spend management solution for keeping track of business expenses on the go. Most of the expense management functionality can be done on your phone, while a series of handy integrations help to automate and streamline processes around uploading and allocating receipts. Plus, it’s easy for employees to create and submit expense reports for quick reimbursement.
Most suitable for: Small businesses with lots of employee expenses
Expensify has two plans:
One of the many features of smart accounting software QuickBooks is its built-in expense management tool. There are obvious advantages to expenses being handled via your accounting platform, like how easy it is to claim business expenses for tax purposes. And when you connect your bank to the platform, QuickBooks automatically matches and organises your receipts to transactions.
Most suitable for: Businesses who want more comprehensive accounting tools built into their spend management software
Quickbooks has five plans:
Fortnox is a cloud-based accounting software platform based in Sweden that helps businesses manage their accounting and bookkeeping processes, as well as other financial admin like spend management. Users can take photos of receipts and instantly upload them via a mobile app, and the platform automatically fills in date, amount and VAT.
Most suitable for: Businesses that operate in Sweden
Fortnox has three plans:
The information in this guide can help you make your decision, but ultimately, you need to factor in considerations about your business and its needs when choosing a platform. Here are three things you can do to ensure you’re choosing an ideal solution.
As you’ll notice from the list above, different software solutions are more suitable for different business industries and sizes. For example, Juni is spend management software built with the needs of ecommerce companies in mind. So when researching a platform, pay close attention to what type of business (big or small, ecommerce or SaaS) it’s best suited for.
While it shouldn’t be the only factor that guides your decision, you can’t ignore pricing when choosing a solution. You need to find a healthy balance between a platform you can afford (and doesn't go over budget) that still gives you all the key features and functionalities you need to run smarter, more efficient financial admin.
You may be a small business now, but if you have plans of scaling in the future, you want to make sure your expense management solution can scale with you. Juni, for example, caters to both SMBs as well as mid-market companies, meaning we can provide the solutions you need from the time your business is founder-led to when it has 100+ employees.
While you can never remove expense management from your to-do list, you can find a platform that does most of the work for you. The best spend management software is one that not only simplifies financial operations but also contributes to strategic decision-making and the long-term financial health of your organisation.
To find a platform that does all that, you need to make sure you’re making your selection with the unique needs of your business in mind. For example, if you operate in digital commerce, you want to choose a solution like Juni that comes with ecommerce-specific capabilities, like features designed specifically for media buying and online transactions.
So take your time finding the right platform—doing so can lead to significant time savings and valuable insights into spending patterns, helping you improve the overall financial health and success of your business.
Spend less time on spend management
With real-time spend overviews, receipt matching automation and powerful integrations, Juni will make you forget what a hassle managing your expenses used to be.
Spend management software is a platform or tool that helps businesses manage and control their expenses. This type of solution usually includes features for receipt management, expense reporting and approval workflows. Plus, these platforms often integrate with accounting software, as well as sync with banks and credit cards.
There are a number of benefits to using spend management software to control your expenses, including:
The price of expense management software varies depending on the size of your business and what industry you operate in, as this will impact which platform you choose. Prices range from as low as £7 per month to almost £100, and some spend management systems also offer free plans to certain users.
As your business grows, you need an account that offers you the features and services that can help you run smoother financial operations and grow your business, like integrations with your accounting software and financing options.
But not all business bank accounts are built the same, which is why you need to take your time to determine your company’s unique needs and research your options before making a decision.
This article covers:
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The information about all the tools discussed in this article was collected between 16 April 2024 and 18 April 2024. This article was written and approved by Juni and is intended as marketing material.
Choosing the right business bank account is crucial to running your business efficiently, and there are certain things you want to make sure you can do with your funds when you decide to open a new bank account for your business.
Business bank accounts typically offer tools and services specifically designed to manage company finances efficiently. These include higher transaction limits, invoicing features, and the ability to integrate with accounting software, helping you keep track of cash flow, expenses and revenue more effectively.
A dedicated business bank account allows you to monitor incoming and outgoing transactions in real time. This visibility is crucial for effective budgeting and financial planning, as it helps identify spending trends, manage cash flow more efficiently and make informed financial decisions quickly.
A designated business bank account simplifies the process of tax preparation. These accounts often come with pre-accounting features and connect to accounting platforms, reducing the complexity of, and time spent on, financial reporting.
Business bank accounts often give you access to benefits such as lines of credit, business loans and credit cards with better terms. These financial products can be crucial to funding business growth and operations, making a business bank account an invaluable tool for long-term development.
Many business bank accounts will integrate with your existing finance tech stack, which allows for automatic updates and synchronising financial data across platforms like accounting, payroll, and expense management systems. As a result, you get a cohesive and automated financial ecosystem that reduces manual errors and saves you time.
Each bank may have slightly different guidelines for the documentation you’ll need to provide when opening a business bank account, but here are some common requirements. Note that these will also vary by country:
Some banking providers offer ecommerce business bank accounts, others have accounts designed specifically for startups or sole traders. So when choosing a bank account for your business, the most important thing to consider is the nature of your business and its specific needs.
This will help you choose an account that comes with the specific features that your business needs, whether that’s access to financing or integrations with your finance software.
Here are some other considerations to keep in mind when choosing an account for your business.
Review the fee structure of potential business bank accounts. Look for monthly fees, transaction fees, ATM usage fees, and any other charges that may apply. Some banks offer fee waivers under certain conditions, so it's worth investigating if your business qualifies.
Consider the interest rates offered on balances in your business bank account. While not all accounts will offer interest, those that do can provide an additional income stream. This is especially applicable for businesses looking to open a savings account.
Ensure that the bank offers robust online banking services that suit your business needs. This should include mobile deposits, fund transfers, bill payments, and real-time account monitoring capabilities.
Evaluate the quality of customer service, including availability. It’s important to have access to support whenever needed, particularly for urgent financial matters.
Opt for a bank known for its reliability and financial stability. Research its history, how it has handled economic downturns and read reviews from other business customers.
Some banks offer additional services like credit lines, loan options, and business credit cards. These can help enable growth by easing cash flow.
Here’s our selection of business bank accounts, followed by an overview of Juni, a financial service provider for ecommerce businesses.
The Swedbank Business Bank Account is available to large corporations and institutions in Sweden. The account allows you access to industry-specific teams including real estate, healthcare, retail, shipping and offshore, telecom, media and technology.
The account’s industry-specific advice and support is aimed at helping businesses manage change and growth, and provides tools for strategic financial planning.
The Nordea Business Bank Account is designed for companies in Sweden. The account includes a business card Mastercard, a business savings account with free withdrawals, and online and in-app finance tracking.
The company package costs 1,300 SEK per year with an initial connection fee of 2,500 SEK.
The SEB Business Account is available to European businesses and is in particular targeted towards small businesses and startups. There’s no monthly fee for the first six months with this account, after which you’re looking at a monthly fee of 130 SEK.
SEB offers customers personal 24/7 phone support, startup insurance options and a convenient mobile app. You also get access to a regular debit card, plus the option to apply for a free credit card with 45 days of a 0% interest rate.
The Handelsbanken Business Account is suitable for businesses and sole traders in Sweden. It provides online banking, mobile banking, Bankgiro, and a corporate card.
The account also provides you with a personal bank contact who can reach you via phone, email and in person. The annual fee for this package is 1,250 SEK.
The Banco Santander Business Account is designed for freelancers, businesses, and SMEs in Spain. It offers day-to-day financial services and digitization solutions at no extra cost.
There are no charges for depositing or withdrawing cash from over 30,000 Santander ATMs across the world. This account is a non-interest-bearing current account with no monthly account maintenance fees for the first 12 months.
The Metro Bank Business Account is designed specifically for small businesses, including start-ups and sole traders. This account is for businesses located in the UK, and you get access to local business managers when you visit a Metro Bank store.
With Metro Bank’s business account, you get access to a debit card that comes with free card purchases and cash withdrawals in Europe and the UK. Plus, Metro Bank offers the ability to borrow up to £60,000 with Business Overdraft services.
The HSBC Kinetic Current Account is built for sole traders or single director shareholder businesses in the UK. This account supports international payments to and from over 200 countries, though note that fees apply.
You can manage all your financial operations via the HSBC Kinetic app, where you can get insights into your cash flow and spend, apply for up to £30,000 overdraft and apply for a HSBC Kinetic Credit Card.
The Starling Business Account is available to UK sole traders, limited companies and LLPs. Starling offers account options with no monthly payments and zero fees on UK transactions, as well as international transfers with 34 countries.
This account integrates with QuickBooks, Xero, FreeAgent and other business software like BrightHR, Slack and Zettle. Plus, when you sign up, you have the option to opt-in to Starling’s Business Toolkit, which helps with financial processes like invoicing and tax prep.
The Banca Intesa Sanpaolo Business Account is available to businesses in Italy with over 2.5 million euros in annual turnover. This business current account offers tailored financial products.
The account provides a single monthly cost that includes the account fee and the connected monthly fee products and services. You can get discounted rates if you have multiple operations.
Juni is a financial service provider designed specifically for ecommerce businesses—with features that help digital commerce businesses run smoother financial operations and free up cash flow.
Juni’s business accounts are available in a number of currencies (SEK, GBP, EUR, USD and NOK) and come with low FX fees capped at 0.5%. Plus, you can create multiple digital cards in USD, SEK, EUR and GBP which give you access to up to 1% cashback on eligible debit spend.
Juni cards give you control over your spend, allowing you to assign them to specific employees or suppliers. You can also set customisable limits and instantly freeze spending to ensure your team is spending wisely.
Juni also offers flexible financing options, both on cards and invoices, to help you extend your runway and grow your business.* What’s more, the platform comes with many other features that simplify your banking and financial processes, like accounts payable tools, accounting automations and integrations with storefronts and ad networks, like Meta and Google Ads.
Whether you’re just starting to scale your business or you’ve been around for years, having the right business bank account can be a determining factor in your company’s financial success.
You need to find an account that comes with features that help you run smoother, quicker and more accurate financial processes while protecting your bottom line.
When making a decision, consider the unique characteristics of your business, including:
These factors will help you choose an account that fits your business needs. Juni, for example, is designed specifically for ecommerce businesses, offering features like accounts payable automation and flexible access to financing, that help simplify financial admin and promote growth.*
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*Juni Capital for cards is available for companies registered in UK, NL, SE, DE, FR, ES, IT, NO and FI, upon eligibility. Capital for invoices is available for companies registered in SE, DE, NL, FR, ES, IT, NO and FI, upon eligibility. Fees and terms and conditions apply. Click here for more details.
Opening a business bank account typically involves providing your business documentation, including personal identification and your company registration number. Most banks offer the convenience of applying online.
Some banks offer free business bank accounts with no monthly maintenance fees, but it's important to note that other charges, such as for transactions over a limit or for additional services, may apply. Shopping around and comparing different bank options can help you find the best balance between value and helpful features.
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