MineralTree vs AvidXchange vs Stampli

Accounts payable (AP) automation helps businesses speed up invoice processing, eliminate late payments, control fraud and errors, and build better vendor relationships.

However, choosing an AP automation provider can be challenging. AP solution providers promise greater efficiency, cost savings, and streamlined financial processes, but how do you choose the right partner from the many offerings on the market?

The best accounts payable automation solutions have an AP-first philosophy. They make complex manual processes simple and intuitive for employees and vendors. Four criteria separate the best AP solutions from the rest:

• Ease of use
• Collaboration and communication
• Invoice approval confidence
• Product performance

Stampli, MineralTree, and AvidXchange are popular AP automation solutions with features like invoice processing and verification, ERP and accounting software integrations, approval routing, payment management, and more. 

Which is the best AP solution for you? In this article, we’ll compare the capabilities and features of all three solutions and help you decide which one meets your needs.

The comparison: MineralTree vs AvidXchange vs Stampli

Each of the three solutions we’re exploring brings a lot to the table. Let’s take a quick look at each one.

Who is Stampli?

Founded in 2015, Stampli is the leading accounts payable automation solution and the only solution designed for Accounts Payable. It’s ideal for AP departments who want to implement AP automation without reworking ERP workflows or AP processes. Stampli uses artificial intelligence (AI) and machine learning to learn your company’s AP processes and patterns and automate and streamline your workflows. 

Who is MineralTree?

MineralTree was founded in 2010 and is a centralized AP platform that can be used on any device. Now owned by Global Payments, MineralTree provides accounting automation solutions to help companies streamline AP processing and expense tracking. 

Who is AvidXchange?

AvidXchange was founded in Charlotte, North Carolina, in 2000. It’s a cloud-based accounting automation platform that streamlines accounts payable workflows for mid-market companies. They bundle automation software and services into tailored AP solutions for various industries, like real estate, financial institutions, and construction companies.

Continue reading to discover the features of each of these solutions.

MineralTree vs AvidXchange vs Stampli: Key features

Stampli key features

Stampli offers finance teams complete control over every step of the peer-to-peer (P2P) process by simplifying touchless invoice processing, coding, and verification, approval routing, and payment processing. It improves cash flow management and converts Accounts Payable into a strategic driver. For greater control over expenses, Stampli offers Stampli Direct Pay. This integrated payment automation solution centralizes all payment methods (ACH, check, wire transfer, and credit card) on a single AP automation platform.

• Supports all native functionality for more than 70 ERPs and accounting systems, including Sage Intacct, QuickBooks Online, SAP S/4HANA, NetSuite, and more.
• Stampli Insights gives real-time AP performance and financial data visibility through prebuilt reports and dashboards.
• Prevents errors and fraud with automated 3-way matching, duplicate invoice detection, and audit trail creation.
• Automatically learns and manages complex invoice approval workflows (multi-approver, multi-location, multi-category, and multi-subsidiary) with optional custom approval flows.
• International payments in USD or local currency to suppliers in over 150+ countries with integrated FX management tools.
• Advanced Vendor Management: Simplified vendor onboarding, management, and collection and maintenance of vendor information such as payment methods, bank account details, and address.
• Customized user roles with automated enforcement of internal controls and segregation of duties.
• Won’t contact your vendors to pressure them into accepting payment methods.

MineralTree key features

MineralTree’s software is designed around four key functions: invoice capture, invoice approval process, payment authorization, and payment completion. Its service offering consists of automation tools that simplify and streamline each function.

• TotalAP: A suite of AP solutions, including invoice scanning and verification, approval routing, and supplier payment automation.
• TotalPay: Invoice payment approval and automation.
• SilverPay: Virtual cards with a cashback program.
• Integrations: NetSuite, Microsoft Dynamics, QuickBooks Online, and others.

AvidXchange key features

AvidXchange’s cloud-based, end-to-end AP automation software is based on three core functions: purchase-to-pay automation, automated approval and payment processing solutions, and invoice management.

• Automatically performs OFAC (Office for Foreign Asset Control) checks on vendors during onboarding and before each payment run.
• Expedited supplier payments to US vendors in the AvidPay membership network.
• Integrates with industry-specific business systems like Rent Manager, MIP Fund Accounting, and Yardi and with QuickBooks Online, Sage Intacct, NetSuite, and MRI Software.
• Contacts vendors to enroll them in AvidXchange’s payment network.

Pricing models

Pricing is a major part of deciding which AP automation solution fits your business best. Most providers don’t publish their pricing or only publish prices for certain products or components without disclosing the full cost of their solution. 

• Stampli offers simple monthly or annual pricing with unlimited users, vendors, and training.
• MineralTree charges a per-invoice volume-based fee with two pricing tiers:
  • Summary information: includes vendor name, date, and amount.
  • Line-level information: includes summary information plus all line-level details.
• AvidXchange doesn’t post pricing information on its website. Its prices are by quote only.

When you’re deciding on an AP automation platform for business, ask for details about their pricing, including how the pricing is applied (per month/user/invoice), the length of the contract (monthly vs yearly), how many users, locations, or entities are included, what services are included, and what fees they charge for additional services. 

Customer satisfaction

The G2 Satisfaction Score for AP Automation measures customer satisfaction with AP automation solutions based on user reviews. It evaluates how well solution providers satisfy users’ needs. The score measures customer satisfaction in four categories:

• Implementation: How easily can you implement the solution?
• Usability: How easy is the solution to use?
• Relationship: How well does the solution provider build customer relationships?
• Results: How well does the solution deliver results?

By comparing each AP automation provider’s Satisfaction Scores, you can quickly identify the product that provides the best customer experience based on feedback from actual AP automation users.

Let’s dig into the scores for MineralTree, AvidXchange, and Stampli.

Implementation Index

The Implementation Index consists of three scores: Ease of Setup, User Adoption, and Time to Go Live.

Of the three competitors, Stampli scored significantly higher in Ease of Setup, indicating it is the easiest solution to implement. Stampli also scored higher than the AP automation industry average for User Adoption and Time to Go Live – reinforcing its industry-leading reputation for fast deployment, implementation, and user adoption.

Usability Index 

Stampli is also a leader in the Usability Index, scoring higher than MineralTree and AvidXchange for Ease of Use and Ease of Admin, another indication of Stampli’s popularity among AP teams.

Relationship Index

Stampli earned the overall “Best Relationship” score for its industry-leading ratings in Quality of Support, Ease of Doing Business, and Likelihood to Recommend (the probability a current user would recommend Stampli to a colleague).

Results Index 

Stampli scored higher than MineralTree and AvidXchange in the Meets Requirements category and above average in the estimated ROI category, reflecting how well Stampli’s AP automation consistently delivers results for customers.

When to choose Stampli

If you are looking for a powerful and user-friendly accounts payable solution that does not require any rework of your ERP, then Stampli is the ideal choice for you. It offers exceptional customer service, automation capabilities, industry expertise, seamless integration with business systems, and transparent pricing. These features make Stampli the leading choice for AP automation and a perfect fit for small, mid-sized, and enterprise businesses.

You need seamless integration with your ERP

Stampli’s philosophy of ERP integration stands in contrast to its competitors: It builds its integrations in-house, with support for the full range of functionality. As a result, Stampli has the flexibility to support a wide range of businesses across all industries, including complex multi-entity corporate structures and those in highly regulated industries such as healthcare. This configurability allows it to be deployed in days, not weeks, with no need to hire developers, adjust existing processes, or reconfigure the ERP. It also allows Stampli to support customers that migrate from one ERP to another with no disruption of service.

Stampli provides quick implementation with live setup assistance and 24/7 customer support from AP and ERP experts. It integrates with ERP in three ways:

Pre-built integration: Fast and easy no-code integration via an application programming interface (API) that’s great for cloud applications. 

File integration: Uses customized file templates (created by Stampli) to import and export files easily with any on-premise or cloud ERP or accounting system.

Process integration: Support for existing processes requiring manual data entry or other specialized workflows.

You want best-in-class customer support

An industry leader in Accounts Payable automation software, Stampli consistently receives top scores in the G2 Grid® for AP Automation software. Stampli has been awarded for customer service, corporate citizenship, and excellence, including: 

• No. 2 in the G2 list of Best Accounting and Finance Products for 2023.
• Recognized By Forbes as one of America’s Best Startup Employers of 2023.
• Best Accounts Payable Automation Solution, 2022 Fintech Awards.

Numerous case studies from happy customers and independent user reviews recognize Stampli for excellence in areas such as:

• Easy to use, intuitive interface.
• Fast implementation and onboarding.
• Good AI/OCR for extracting invoice data.
• Integration with accounting software like NetSuite and QuickBooks.
• Streamlined workflows and approvals.
• Audit trail providing transparency.
• Reporting capabilities.
• Excellent customer support.

You want simplified, centralized invoice management

Stampli’s AI assistant, Billy the Bot™, learns your AP processes and reduces tedious manual tasks to assist across the entire invoice lifecycle, including invoice capture, coding, matching, approvals, and fraud detection. Stampli centralizes all communications, documents, and tasks on top of the invoice for more control over AP processes.

For enhanced functionality, Stampli complements its AP automation solution with a suite of integrated services. These include virtual and physical card programs (Stampli Card), domestic and international payment solutions (Stampli Direct Pay), and employee expense management (Stampli Expenses).

When to choose MineralTree

MineralTree is a user-friendly solution for automating the accounts payable process. It provides tailored AP solutions for different industries and integrates with ERPs and accounting systems. With MineralTree, small to mid-sized businesses can access flexible service offerings and volume-based pricing, making it a good option for businesses looking to simplify their accounting processes.

You need a low-cost AP solution for a small business

MineralTree’s per-invoice pricing may be advantageous for small or medium-sized businesses that want to realize the advantages of AP automation but process small volumes of invoices. However, per-invoice pricing may not be ideal for growing businesses, as the monthly cost to process a growing volume of invoices may exceed the cost of a per-month service plan.

You need a user-friendly interface for non-finance employees

Users report that MineralTree’s interface is simple and easy to use for non-financial employees, potentially making it a good solution for small businesses or businesses where employees share financial functions. Some reviewers report that it can take longer for users to implement and learn to use MineralTree, however, especially in complex accounting and IT environments.

When to choose AvidXchange

AvidXchange’s mission is to increase efficiency, visibility, and control in financial processes. They provide a range of custom-built AP solutions catering to specific industry sectors. As one of the oldest AP automation companies, AvidXchange brings experience and flexibility to help businesses manage AP expenses.

You want an industry-specific solution for your business

AvidXchange provides a range of customized solutions to meet the needs of diverse industries, especially real estate ( AvidSuite for Real Estate) and financial services (AvidAccess). It also provides add-on modules to help manage specific spending areas, such as utilities and office supplies. These end-to-end solutions may be good solutions for these sectors, but businesses may prefer a more integrated solution that supports third-party solutions such as payment automation.

You want access to an existing supplier payment network

AvidXchange offers access to its AvidPay supplier network, which claims it can expedite payments to over 900,000 suppliers in the US. AvidPay may be attractive for businesses that deal with suppliers in the network. However, it only offers payments to suppliers in the US, so there might be better solutions if you want more freedom in how you pay suppliers. Note that, as per their terms of service, AvidXchange can reach out to your suppliers to enroll them in the payment network.

Stampli: The #1 choice for AP automation

Tired of dealing with workarounds, spreadsheets, or manual ERP work for your accounts payable needs? If so, Stampli is the comprehensive solution you need. Stampli provides an efficient, AI-powered solution that automates your AP workflows and enhances your existing processes. 

With Stampli, you don’t have to change your AP workflows, as all the AP-related tasks are centralized in one user-friendly interface, simplifying communication, documentation, and workflows and making them easy to manage.

Artificial intelligence automation features like Billy the Bot™ streamline manual tasks and provide real-time visibility and control over your AP processes. This way, you can stay on top of your finances and effortlessly manage your AP tasks.

Stampli’s versatile suite of integrated products and compatibility with over 70 ERPs make for swift deployment, helping companies like Becker Studios achieve 4X ROI on labor costs.

Want to learn more about how Stampli can help your invoice and payment management workflow? Contact us today for a free demo and see why Stampli is the best choice for AP automation.