Accounts Payable Automation Software

Accounts payable automation is the use of technology to streamline the entire AP process — from receiving an invoice to making the final payment. Instead of manually keying data into spreadsheets, chasing approvals via email, and reconciling payments by hand, AP automation handles these tasks digitally with AI, OCR, and smart workflows.

For growing businesses processing dozens or hundreds of invoices each month, the payables automation opportunity is significant. Manual invoice processing costs an average of €12.88 per invoice, while automated processing brings that down to approximately €2.78 — a saving of over 78% per invoice.

FinTask brings enterprise-grade accounts payable process automation to small and mid-sized businesses, with native support for Xero, QuickBooks, Shopify, and Stripe — the tools your business already uses.

Manual AP is one of the most time-consuming processes in finance. Here's what the numbers show:

Beyond cost savings, accounts payable automation delivers:

• Compliance and audit readiness — automatic audit trails, GDPR-compliant data handling, and VAT-ready reporting
• Better cash flow visibility — real-time dashboards showing outstanding liabilities and payment schedules
• Stronger vendor relationships — on-time payments and early payment discounts of 1-2% of invoice value
• Reduced fraud risk — automated three-way matching catches duplicate invoices and discrepancies before payment

FinTask's accounts payable automation systems handle your entire invoice lifecycle in four steps:

1. AI-Powered Invoice Capture
Forward invoices via email or upload PDFs. Our OCR and AI extraction technology reads invoice data — vendor name, amounts, line items, VAT — with over 95% accuracy. No manual data entry required.

2. Automated Matching and Validation
FinTask automatically matches invoices against purchase orders and delivery receipts (three-way matching). Discrepancies are flagged for review; clean matches flow straight through.

3. Smart Approval Workflows
Set up approval rules based on amount thresholds, department, or vendor. Approvers get notified instantly and can approve from their phone. No more chasing signatures.

4. Payment and Reconciliation
Approved invoices are scheduled for payment and automatically reconciled in your accounting software. FinTask syncs in real-time with Xero and QuickBooks, so your books are always up to date.

• AI-powered invoice data extraction — OCR plus machine learning for 95%+ accuracy on structured and unstructured invoices
• Three-way matching — Automatic PO, receipt, and invoice matching with exception handling
• Customisable approval workflows — Build rules by amount, department, vendor, or project
• Real-time dashboards and reporting — Track processing times, outstanding payables, and payment status
• Multi-currency support — Handle EUR, GBP, USD, and more with automatic exchange rate updates
• Xero and QuickBooks integration — Native two-way sync, not CSV exports
• GDPR-compliant — EU data residency, encrypted storage, and audit-ready trails
• Shopify and Stripe support — Reconcile e-commerce transactions alongside supplier invoices

FinTask is built for growing businesses that have outgrown spreadsheets but don't need (or want) enterprise-scale complexity:

• SMBs processing 50-5,000+ invoices per month — enough volume that manual processing is a real bottleneck
• Finance teams of 1-20 people — where every hour saved on data entry means more time for strategic work
• Businesses using Xero or QuickBooks — FinTask integrates natively, unlike enterprise tools built for SAP or Oracle
• E-commerce businesses — with Shopify, Stripe, or WooCommerce revenue to reconcile
• Irish and European companies — who need VAT handling, SEPA payment support, and GDPR compliance

The return on investment from accounts payable automation is well-documented:

• 80% reduction in invoice processing costs — from €12.88 to €2.78 per invoice
• 3x faster invoice approvals — from 17.4 days to under 5 days on average
• Capture early payment discounts — 1-2% savings on invoice value, which adds up to thousands per year
• Positive ROI within 6 months — most FinTask customers see returns within the first quarter

The AP automation market is projected to reach €11.17 billion by 2030, growing at 12.6% CAGR. Only 9% of AP departments are fully automated today — but two-thirds expect to be within the next few years. The businesses that automate now gain a lasting competitive advantage.

Want to see the full picture? Read our Complete Guide to Accounts Payable Automation for detailed implementation steps and best practices.