AP solution comparison: Tipalti vs MineralTree vs Stampli

Are you trying to choose the best AP automation solution for your business?

Accounts payable automation helps businesses save time and money by speeding up invoice processing, eliminating late payments, controlling fraud and errors, and building better vendor relationships. The best accounts payable automation solutions are designed around four principles to make them powerful, simple, and intuitive:

• Ease of Use
• Collaboration and Communication
• Invoice Approval Confidence
• Product Performance

Choosing the right AP automation provider can be a challenge. Every AP solution provider promises greater efficiency, cost savings, and streamlined financial processes, but how do you know which one best fits your business?

In this article, we compare Stampli, Tipalti, and MineralTree. We’ll explore each provider’s capabilities, reputation, and features to help you decide on the one that meets your needs. 

The comparison: Tipalti vs MineralTree vs Stampli

Let’s start by learning more about each provider. 

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 Tipalti?

Tipalti was founded in 2010. It’s a cloud-based payment processing and AP solution with a wide range of invoice automation, expense tracking, tax compliance, and payment automation solutions. It’s designed to meet the needs of medium to enterprise-level businesses who want to streamline financial processes.

Who is MineralTree?

MineralTree was founded in 2010 and is a centralized AP and accounting 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. 

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

Tipalti vs MineralTree vs Stampli: Key features

Each solution offers AP features like invoice processing and verification, ERP and accounting software integrations, approval routing, and payment management. 

Stampli key features

Stampli provides accounting teams with total control of the entire AP process. It features touchless invoice processing, GL coding, approval routing, and payment processing. Stampli enhances working capital management and transforms Accounts Payable into a strategic driver for business. 

For more control over expenses, Stampli offers Stampli Direct Pay. Direct Pay integrates with Stampli’s AP solution to consolidate all payment methods (ACH, check, wire transfer, and credit card) within a single AP automation platform.

• Prebuilt, no-code integration with over 70 ERPs and accounting systems, including Microsoft Dynamics GP, Microsoft Dynamics 365 Finance, and Microsoft Dynamics Business Central. Sage Intacct, QuickBooks Online, QuickBooks Desktop, SAP S4/HANA, and Oracle NetSuite.
• Stampli doesn’t contact suppliers to pressure them into changing payment methods.
• Stampli Insights show real-time AP performance and financial data and analytics for improved visibility and control, cash flow management, and decision-making.
• Learns and manages complex invoice approval processes (multi-location, multi-category, and multi-subsidiary) and can use custom approval workflows.
• International payments in USD or local currency to suppliers in over 150+ countries with integrated FX management tools.
• Automatically detects and prevents errors and fraud with automated 3-way matching, duplicate invoice detection, and audit trail creation.
• Custom user roles with enforcement of internal controls and segregation of duties.
• Self-serve vendor onboarding, management, and collection and maintenance of vendor information such as payment methods, bank account details, and addresses.

Tipalti key features

Tipalti is a cloud-based payment processing platform that provides accounts payable automation features. It helps businesses streamline their financial processes with a customizable solution that offers a simple interface, internal financial controls, tax compliance, fraud detection, and electronic payment capabilities.

• Proactively engages vendors to promote payment methods.
• Automates invoice scanning and data entry, receipt and PO matching, payments, and reconciliation.
• Fraud controls include automated enforcement of policies and internal controls, audit trail, error detection, and role-based security.
• PO requisition management to help companies control department spending.

MineralTree key features

MineralTree’s software is designed around four key functions: invoice capture, invoice approval process, payment authorization, and payment completion. It offers automation tools that simplify and streamline each of these functions.

• 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 corporate cards with a cashback program.
• Integrations: NetSuite, Microsoft Dynamics, QuickBooks Online, and others.

Pricing Models

If you’re looking to choose the right AP automation solution for your business, it’s important to consider pricing as a major factor. However, many providers don’t publish their pricing models or only offer partial pricing information, making it challenging to make an informed purchase decision. It’s essential to have access to complete and transparent pricing information to make the best choice for your business.

• Stampli offers simple monthly or annual pricing with unlimited users, vendors, and training.
• Tipalti charges a monthly fee for access to its basic platform. It charges additional fees for added modules, features, and advanced functionality and requires customers to pre-fund a payment account before they can pay vendors.
• 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.

When evaluating different AP automation platforms for your business, it’s important to gather detailed information about their pricing structure. Consider asking the following questions:

• How is the pricing applied? Is it per month, per user, or per invoice?
• What are the contract options? Do they offer monthly or yearly contracts?
• How many users, locations, or entities are included in the pricing?
• Are there any additional services included in the package?
• What fees do they charge for any additional services?

Considering these factors will help you make an informed decision when selecting an AP automation platform for your business.

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 Tipalti, MineralTree, 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 and Time to Go Live, indicating it is the easiest solution to implement. Stampli also scored higher than the AP automation industry average for User Adoption – reinforcing its industry-leading reputation for fast deployment and implementation.

Usability Index

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

Relationship Index

Stampli scored highest in Likelihood to Recommend, Ease of Doing Business, and Quality of Support, indicating that Stampli is the industry leader in building strong customer relationships.

Results Index

Stampli earned one of the highest “Best Results” scores for its estimated return on investment. Stampli also scored higher than Tipalti and MineralTree in the Meets Requirements category, reflecting how well Stampli’s AP automation consistently delivers results for customers.

When to choose Stampli

Stampli is the industry leader in accounts payable automation and the only solution designed for AP. If you’re looking for a flexible and powerful AP automation solution that doesn’t require any rework of your ERP, consider Stampli’s advantages. It provides outstanding customer service, automation capabilities, industry expertise, seamless integration with business systems, and transparent pricing. 

You need seamless integration with your ERP

Stampli takes a refreshing approach to ERP integration that sets it apart from its competitors. Instead of relying on third-party solutions, Stampli builds its integrations in-house, ensuring support for natural functionality and data sharing. This unique approach gives Stampli the flexibility to support diverse businesses – including complex multi-entity corporations or companies operating in a highly regulated sector like health care.

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:

Prebuilt 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.

What sets Stampli apart is its remarkable configurability. With Stampli, ERP implementations and migrations take just days instead of weeks, with no need to hire developers, revamp existing processes, or reconfigure your ERP. 

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:

• Will never pressure vendors into changing payment methods.
• 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 visibility into transactions.
• Reporting capabilities.
• Excellent customer support.

You want simplified, centralized invoice management

Stampli’s AI assistant, Billy the Bot™, is designed to learn your business patterns and simplify your AP processes. By eliminating manual tasks and streamlining the invoice lifecycle, Billy automates invoice capture and data entry, coding, PO matching, approval routing, and fraud detection. 

To enhance the functionality of its core AP automation solution, Stampli offers a range of integrated services. This includes virtual card programs (Stampli Card), domestic and international payment solutions (Stampli Direct Pay), and employee expense management (Stampli Expenses). 

When to choose Tipalti

Tipalti provides payment processing and AP automation solutions. It offers a straightforward user interface, automated internal control enforcement and regulatory compliance, and payment management to help businesses improve their accounting workflows.

You are expanding into global markets

Tipalti’s global mass payments product facilitates B2B payments to international suppliers in 196 countries. The product offers a centralized payment platform, financial controls, anti-fraud features, and a variety of international payment methods. To assist clients in managing currency exchange risk and minimizing exposure to currency fluctuations, Tipalti also provides an FX hedging service. This service helps customers mitigate potential currency exchange risks and maintain greater control over their international payment transactions.

It’s important to note that Tipalti requires customers to pre-fund their payment accounts before making vendor payments. However, for customers who prefer to avoid tying up their funds or seeking more flexibility in managing their FX exposure, an alternative solution like Stampli International Payments may be worth considering. Stampli International Payments offers a flexible approach to managing FX risk, allowing businesses more control over their money.

You want a customizable AP automation solution

Tipalti provides a customizable solution that includes a brandable, white-label supplier portal, automated vendor communications, ERP integration, and customized approval routing. However, some customer reviews on independent software review sites like G2 and Capterra mention concerns regarding slow implementations, a steep learning curve, and challenges in integrating ERP and business systems with the platform. If user-friendliness is your top priority, it may be worth considering solutions with higher customer satisfaction ratings.

When to choose MineralTree

MineralTree provides tailored accounts payable automation solutions for small and mid-sized businesses and enterprises looking to simplify their accounting processes. With MineralTree, businesses can access flexible service offerings, volume-based pricing, and integration with ERPs and accounting systems.

You need a budget-friendly AP solution for small businesses

MineralTree charges a per-invoice fee for its services. This pricing model may be attractive to small businesses that want an AP automation solution but process a relatively small number of invoices. However, as your business grows, the volume of invoices may grow too. In that case, per-invoice pricing may not be as competitive as a per-month or custom pricing model. 

You need an intuitive interface for non-finance employees

Customer reviews report that MineralTree has a simple interface that is easy to use for non-financial employees. This could make it a good solution for companies where the business owner or employees share financial and accounting responsibilities. However, some reviews suggest that it can take longer for users to learn to use MineralTree in complex accounting and ERP environments. Consider a solution that combines user-friendliness with ease of implementation for the best user experience.

Stampli: The #1 choice for AP automation

Transform your accounts payable workflows and unlock the full potential of your accounts payable process with Stampli’s innovative AP automation solution. Say goodbye to manual data entry and time-consuming tasks, and hello to streamlined, efficient AP operations. 

Stampli offers a scalable and flexible platform that adapts to your business needs. Experience the benefits of easy implementation that takes weeks, not months, and start maximizing your ROI with Stampli as your trusted Accounts Payable Automation partner.

The industry leader in AP automation

With Stampli, you’ll immediately see the impact of AP automation on your bottom line. 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.

With Stampli, you don’t have to change your AP workflows. All AP-related tasks are centralized in one user-friendly interface, simplifying communication, documentation, and workflows, helping satisfied customers like Beyer Mechanical reduce the invoice lifecycle from 5 days to 48 hours.

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.