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Best Invoice Processing Software: Top 10 for 2024

We tried every invoice processing software on the market to compile this list of the best invoice processing software. Read on to learn more.

10 Automated Invoice Processing Software

Here are the 10 best tools for invoice processing that you can consider:

1. Lido App

automated invoice processing software

Lido App is a top-tier OCR software designed for efficient invoice processing. It offers advanced features to automate and streamline the invoicing process, making it ideal for businesses of all sizes.

It also features a free plan, including 20 actions and 50 connected rows. This is perfect for experiencing the benefits of automation without upfront costs.

Main Features:

  • High precision in OCR data extraction
  • User-friendly and customizable interface
  • Automated workflows for invoice processing
  • Robust security features to protect sensitive information

2. Zoho Invoice

best automated invoice processing software

Zoho Invoice is a comprehensive invoicing software known for its robust automation workflows and mini-CRM capabilities. It's ideal for businesses looking for a flexible and full-featured invoicing solution.

Main Features:

  • Automated invoice scanning and data extraction
  • Seamless integration with other Zoho apps
  • Customizable templates and reporting
  • Multi-currency support

3. Square

software for invoice processing

Square provides a unified platform for invoicing, payments, and point-of-sale transactions, making it an excellent choice for businesses with both online and offline sales. Its robust inventory features streamline the invoicing process.

Main Features:

  • Simple and intuitive interface
  • Automatic invoice scanning and entry
  • Real-time tracking and notifications
  • Secure payment processing integration

4. Intuit QuickBooks Online

best invoice processing software

Intuit QuickBooks Online is a powerful accounting software with integrated invoicing features, perfect for small to medium-sized businesses. It simplifies financial management with its comprehensive suite of tools.

Main Features:

  • Automatic invoice capture and data extraction
  • Comprehensive financial reporting
  • Integration with a wide range of third-party apps
  • Multi-user collaboration with varying access levels

5. Wave

Wave is a free invoicing software designed for small businesses and freelancers. It offers a user-friendly interface with powerful features that make invoicing and accounting straightforward and efficient.

Main Features:

  • Free to use with no hidden fees
  • Automatic data capture from invoices
  • Customizable invoice templates
  • Integrated expense tracking and reporting

6. FreshBooks

FreshBooks is a highly user-friendly invoicing software that caters to small businesses and freelancers. It offers a range of features to streamline invoicing, time tracking, and expense management.

Main Features:

  • Automated invoice scanning and entry
  • Customizable and professional invoicing templates
  • Time tracking and expense management
  • Multi-currency and multi-language support

7. Xero

Xero is a cloud-based accounting software that includes robust invoicing capabilities. It is ideal for growing businesses that need scalable solutions for their financial management needs.

Main Features:

  • Automated data extraction from invoices
  • Real-time financial dashboard
  • Integration with over 800 third-party apps
  • Comprehensive inventory management

8. PayPal

PayPal is a trusted payment platform that also offers basic invoicing features. It is a great option for businesses looking for a simple, easy-to-use invoicing solution with integrated payment processing.

Main Features:

  • Quick and easy invoice creation and sending
  • Automatic invoice data entry
  • Secure payment processing
  • Detailed transaction history and reporting

9. Rho

Rho is an all-in-one finance platform that includes advanced AP automation for invoice processing. It is designed for businesses that require a scalable and integrated financial solution.

Main Features:

  • High accuracy in data extraction
  • Automated workflows and approval processes
  • Integration with major accounting software
  • Real-time financial insights and reporting

10. Airbase

Airbase is a spend management platform that combines AP automation, corporate cards, and expense reimbursements. It is designed for small to midsize companies looking for comprehensive financial control.

Main Features:

  • Automated invoice scanning and data capture
  • Customizable approval workflows
  • Detailed spend analysis and reporting
  • Integration with leading accounting software

Comparison of the Best Automated Invoice Processing Software

Here is a comparison of the best automated invoice processing software that you can consider:

What is Software for Invoice Processing? 

A software for invoice processing is a digital tool designed to automate the management of incoming invoices from receipt to payment. It simplifies tasks like data entry, validation, and reconciliation.

Example: Acme Corp employs QuickBooks Pro to automate their invoice processing, using its features to capture invoice data automatically from Invoice #12345 and ensure accurate payment to their suppliers. This system minimizes manual entry and speeds up the reconciliation of accounts payable.

We hope that our best invoice processing software list has helped you choose a solution for your business. Think, we missed a software? We would love to hear your opinion!