Compare the top five invoice processing software with AP automation in Canada (2025)

Key takeaways

• The best invoice processing software integrates automation, approvals, and transfers into a single system. That helps Canadian finance teams reduce manual work and maintain control.

• Canadian SMEs should look for software with robust accounting integrations, batch transfers, and real-time visibility of spending. Invoice capture alone isn’t enough.

• Airwallex offers a unified solution with AI-powered invoice processing, integrated accounting tools, and powerful controls for managing spend across currencies and entities – all built for growing global businesses.

Processing invoices manually is slow, error-prone, and expensive. Yet, for many Canadian finance teams, it remains the default. You receive bills by email, route them for approval through Slack or spreadsheets, then log into your bank to make payments one by one. Meanwhile, reconciliation becomes a monthly headache.

Many Canadian businesses face similar challenges as they scale and outgrow manual systems. That’s where invoice processing software comes in. The right platform can automate data capture, enforce approval workflows, and streamline how you manage bills, vendors, and reconciliation – all while syncing with your accounting software.

This comparison looks at five widely used invoice processing and global payment platforms for growing businesses, selected for their product capabilities and availability in the Canadian market. You’ll learn what to look for, how each platform compares, and why more teams are choosing integrated AP automation to speed up the close, reduce errors, and improve visibility.

What is invoice processing software?

Invoice processing systems are software tools designed to handle invoices and streamline businesses' accounts payable processes. The top invoice processing software minimizes manual data entry and reduces human errors, enhancing efficiency, speeding up payment cycles, and improving vendor relationships.

Other features of automated invoice processing systems include automated data extraction, invoice validation, approval workflows, and flagging errors in bill payments. Robust controls and approval processes can help ‌boost company spend compliance.

Many invoice processing solutions integrate with existing accounting software systems, providing real-time visibility of spending and reporting capabilities. The best invoice processing software will include a full suite of spend management tools, allowing you to process invoices and track, manage, and control your global spend from a centralized location.

How does an invoice processing software system work?

Think about how your team currently handles invoice processing. Do they use a single system for uploading and tracking invoices and another for internal approvals? Once approved, do they have to switch back to the financial system to pay the invoice before manually reconciling everything in your business's accounting software?

Invoice processing software consolidates these processes. With the proper invoice processing software, you’ll be less likely to miss invoice due dates or fall behind on approvals and more likely to find the reconciliation process much smoother.

Here’s how it generally works:

1. Bills are uploaded, and invoice information is entered into the invoice processing system. The best invoicing process software will enable you to do this via direct upload or by simply emailing the bills to a specific address. All relevant invoice data will be automatically captured and recorded using optical character recognition (OCR) technology.

2. Invoice details are verified against purchase orders and then routed to approval. The top invoice processing software will allow a multi-layer, custom-designed approval workflow tailored to your business needs.

3. Once approved, the invoice is queued for payment. Many companies still do this on an external financial system, separate from their invoice processing software. However, unified platforms that combine software with financial infrastructure are now available, allowing teams to manage bills and financial workflows within the same system, eliminating the need to toggle between banking portals and spreadsheets.

4. Paid bills are then reconciled in accounting software against invoices and purchase orders. Often, this is a manual and time-consuming process. However, top providers will have integrations that automatically sync paid bills to your accounting software.

5. Ultimately, you can derive unique and valuable insights from your invoice processing software to gain a deeper understanding of your company's spending and identify areas for improvement.

The top invoice processing software providers in Canada (2025)

All five platforms below support invoice processing and AP automation to varying degrees. However, they differ in global capabilities, accounting integrations, general ledger (GL) automation, and native payment workflows. Here's how they stack up.

Airwallex

Airwallex is an end-to-end financial platform with a suite of spend management tools, including Bill Pay, its automated invoice processing solution. 

Bill Pay enables businesses to gain greater control over accounts payable by allowing them to upload, approve, and manage bills across multiple currencies. Because it’s connected to Airwallex’s global financial infrastructure, businesses can manage and approve bills in multiple currencies, streamline reconciliation, and ensure global readiness as they scale. 

With batch transfers, teams can also pay up to 1,000 vendors at once. Integrations with leading accounting software enable faster reconciliation by automatically syncing payments and account data.

"Having all our global SaaS subscriptions in one place has streamlined our finance processes and enabled better tracking and control of expenses. It’s even better knowing that Airwallex isn’t hitting us with any international transaction fees." - Warren Durling, Chief Operating Officer of Dovetail

Tipalti

Tipalti is a well-established AP automation platform that supports invoice processing, mass payouts, and global compliance. If you’re a larger Canadian business managing hundreds of cross-border payments a month, Tipalti’s breadth of payment options and tax handling tools might appeal.

It offers AI-driven invoice matching, multi-tiered approval workflows, and integrations with systems like NetSuite, QuickBooks, and Sage. You can also pay in over 190 countries, though fees and FX rates vary.

Tipalti’s implementation process may require more resources compared to other platforms, which can be a consideration for smaller teams. Local support is also limited, and the platform’s user experience (UX) doesn’t match that of more modern alternatives.

Float

Float is a Toronto-based provider built for Canadian businesses. It combines corporate cards, expense management, and invoice processing in a single platform, with a simple setup and fast onboarding.

For AP, Float offers core automation features, including OCR-based invoice capture, bill approvals, general ledger (GL) coding, and batch payments. Its integrations with QuickBooks and Xero are strong, and because it’s locally focused, there’s full support for CAD and USD transactions without workarounds.

Float’s usability makes it accessible for teams without dedicated finance systems resources. That said, it’s not built for complex, global operations. Larger businesses or those scaling internationally may find limitations around FX handling, tax compliance, and cross-border payment infrastructure.

Stampli

Stampli stands out for its collaborative approach to AP. It consolidates invoice approvals, conversations, and documentation into a single interface, making it easier for teams to track progress and resolve issues efficiently.

It utilizes AI to extract invoice data and flag duplicates, supports custom approval workflows, and provides batch payments with general ledger (GL) coding. Accounting integrations are available with QuickBooks, NetSuite, and other systems; however, setup can be complex.

The main catch for Canadian businesses is Stampli’s US focus. It doesn’t offer native support for CAD wallets, and cross-border payments rely on integrations with third-party platforms. For companies with global ambitions or a need for a comprehensive end-to-end payment infrastructure, it may not provide the necessary level of infrastructure.

Ramp

Ramp focuses on accounts payable solutions, including corporate cards and expense management, designed to streamline financial operations. It utilizes AI tools to help businesses automate invoice processing, including capturing invoice details, matching them with purchase orders, and scheduling payments. Ramp supports payments via ACH, checks, and wires and provides tools for tracking expenses, setting spend controls, and integrating with accounting software for seamless reconciliation.

The limitation for Canadian companies is availability. Ramp isn’t designed for Canadian entities and doesn’t support CAD natively. There’s no local tax handling, no French language support, and limited relevance unless your business has a US presence.

Top features to look for in invoice processing software providers

When researching the right choice of invoice processing software for your business, here are some of the top features and capabilities you should look for.

• Time-saving automation features that are seamless to set up. Your invoice processing software should give your team back hours each week by offering a variety of automation features to eliminate the tedious manual data entry tasks associated with the accounts payable process.

• The ability to create multi-layer approval workflows unique to your business. Ensure you can create multi-layer approval workflows tailored to specific roles within your business, aligning with company spending policies and preventing invoices from slipping through the cracks.

• New levels of visibility and control through real-time categorization, tracking, and reporting. Your invoice processing software should ideally be part of a larger, comprehensive spend management platform that features real-time spend visibility, making it easy to stay on top of your due invoices.

• Unified software with financial infrastructure to avoid manual data duplication across systems. Choose invoice processing software that lets you manage bills in multiple currencies from a single platform, with minimal duplication and seamless data flow across systems.

• Flawless integrations with your existing accounting software. You should be able to automate your reconciliation process by integrating it with your existing accounting software. Ensure you can import data, such as your chart of accounts, and synchronize bills and payments for smoother processing. 

• Platforms built on global financial infrastructure. While many invoice processing and spend tools are built around cards or expense workflows, platforms that start with a global wallet foundation can offer more flexibility and control. These solutions enable businesses to collect, hold, convert, and spend funds in multiple currencies, thereby reducing unnecessary foreign exchange conversions, simplifying global payments, and enhancing operational efficiency as they scale.

Compare the top invoice processing software providers in Canada

Here’s a quick feature comparison of widely used invoice processing and global payment platforms serving the Canadian market.

What questions should you ask when onboarding an invoice processing software provider?

• What automation capabilities does your software have? Invoice processing software with AI and automation capabilities can save your team a lot of time and ensure data consistency and accuracy. Understand the software's approval workflow capabilities and the level of customization available. Are notifications available to remind your team when payments are due? AI can also be helpful in invoice processing software, supporting data extraction from invoices and transferring information to payment systems.

• Are there other spend management software products available with your solutions? Invoice processing solutions that are part of a larger suite of spend management tools can simplify your financial management by providing a more comprehensive view of your cash flow across the business.

• What integrations do you offer? Most popular invoice-processing software providers offer integrations with major accounting and ERP tools to help streamline your operations. Choose a provider that integrates seamlessly with your existing software.

Why businesses choose Airwallex for invoice processing and AP automation

For many finance teams, accounts payable is where momentum stalls. It’s the part of the workflow that gets delayed, delegated, or bogged down in admin tasks. But the businesses that grow fastest tend to think differently. They treat AP not as a back-office burden, but as a strategic lever for visibility, speed, and control.

One Airwallex customer described the shift as “getting things done at ten times the speed”. Airwallex gives Canadian companies a way to reimagine what’s possible. Instead of stitching together invoices, payments, and reporting across multiple tools, you get a single platform that scales with your ambitions. When everything from approvals to payouts is connected, finance moves from reactive to proactive, from routine to resilient.

If you’re ready to stop patching over problems and start building a modern finance function, this is your next step.

FAQs

What is invoice processing software?

Invoice processing software is a tool that helps businesses automate the receipt, approval, and management of invoices. It replaces manual data entry and email threads with a central system that connects with your accounting software and payment workflows.

How does invoice processing software save time?

By capturing invoice details automatically, routing them for approval, and syncing with your finance tools, invoice processing software reduces repetitive tasks. It means fewer errors, faster payment cycles, and less time chasing paperwork.

Which features should Canadian businesses prioritize?

Look for tools that support CAD invoicing, batch processing, and local accounting integrations like QuickBooks and Xero. If your business operates across borders, support for multi-currency wallets and international payouts is essential.

Can invoice processing software work with my existing systems?

Most leading platforms integrate with common ERPs and accounting tools. This means you can sync your chart of accounts, automate reconciliation, and avoid manual data entry between systems.

Why choose Airwallex for AP automation?

Airwallex offers a full suite of AP features powered by global financial infrastructure. You can manage multi-entity approvals, streamline multi-currency workflows, and track everything from one platform, with infrastructure built to support global payments, expense management, and reconciliation at scale.

Sources 

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