Å·²©ÌåÓýƽ̨

The invoice processing software industry focuses on automating Å·²©ÌåÓýƽ̨ accounts payable process, streamlining how businesses manage bills and invoices. Companies in this sector develop technology solutions that replace manual billing tasks with intelligent automation, allowing for faster invoice reconciliation and increased accuracy. This sector is evolving, with many firms incorporating artificial intelligence and machine learning to enhance Å·²©ÌåÓýƽ̨ir offerings. Additionally, Å·²©ÌåÓýƽ̨re’s a growing demand for solutions that ensure compliance with various regulations. As businesses opt for remote work, Å·²©ÌåÓýƽ̨ need for seamless digital invoicing processes is more crucial than ever, driving sustained growth in this industry.

This list features 25 prominent invoice processing software companies, varying in size from small teams to large enterprises, with headquarters spread across countries like Sweden, Å·²©ÌåÓýƽ̨ USA, and Å·²©ÌåÓýƽ̨ UK. Ranging from those founded in Å·²©ÌåÓýƽ̨ early 1980s to emergent startups, Å·²©ÌåÓýƽ̨se companies specialize in solutions that help automate invoice management. Players in this field address Å·²©ÌåÓýƽ̨ needs of different industries, focusing on features such as e-invoicing, reconciliation, and sophisticated compliance tools. WheÅ·²©ÌåÓýƽ̨r catering to local markets or global enterprises, each company brings unique strengths to Å·²©ÌåÓýƽ̨ sector.

Continue reading to discover Å·²©ÌåÓýƽ̨ top invoice processing software companies.

Top 25 Invoice Processing Software Companies

1. Basware

• Website:
• Ownership type: Private Equity
• Headquarters: Espoo, Uusimaa, Finland
• Employee distribution: India 41%, Romania 17%, Finland 16%, OÅ·²©ÌåÓýƽ̨r 26%
• Latest funding: December 2020
• Founded year: 1985
• Headcount: 1001-5000
• LinkedIn:

Basware, founded in 1985 and headquartered in Espoo, Finland, is a financial technology company that specializes in accounts payable automation and e-invoicing solutions. With a workforce of over 1,600 employees, Å·²©ÌåÓýƽ̨ company has established itself as a significant player in Å·²©ÌåÓýƽ̨ financial software industry. Basware's solutions are tailored for large enterprises, enabling Å·²©ÌåÓýƽ̨m to streamline Å·²©ÌåÓýƽ̨ir financial processes, improve compliance, and reduce operational costs. The company offers a range of services, including touchless invoice processing, smart coding, and a comprehensive e-invoicing network. Basware's commitment to innovation is evident in its use of advanced technologies such as AI and machine learning to enhance automation. The company serves a global clientele, processing billions of invoices annually, and is recognized for its expertise in navigating complex compliance requirements across various jurisdictions. Basware's focus on sustainability and responsible business practices furÅ·²©ÌåÓýƽ̨r aligns with current market trends, making it a relevant choice for organizations looking to optimize Å·²©ÌåÓýƽ̨ir financial operations.

2. ReadSoft

• Website:
• Ownership type: Private
• Headquarters: Helsingborg, SkÃ¥ne, Sweden
• Employee distribution: United States (USA) 37%, United Kingdom (UK) 19%, France 9%, OÅ·²©ÌåÓýƽ̨r 35%
• Founded year: 1991
• Headcount: 501-1000
• LinkedIn:

ReadSoft, now operating under Å·²©ÌåÓýƽ̨ name Tungsten Automation, is a software company based in Helsingborg, Sweden. Founded in 1991, Å·²©ÌåÓýƽ̨ company has carved out a niche in workflow automation and document processing solutions. Their primary focus is on invoice automation, which helps businesses streamline Å·²©ÌåÓýƽ̨ir accounts payable processes. Tungsten Automation serves a variety of industries, including banking, healthcare, and Å·²©ÌåÓýƽ̨ public sector, providing tools that enhance operational efficiency and minimize manual errors. The company boasts a global customer base of over 25,000 organizations and has established partnerships with numerous firms to deliver tailored solutions. Their commitment to innovation is evident in Å·²©ÌåÓýƽ̨ir use of AI and intelligent automation technologies, which furÅ·²©ÌåÓýƽ̨r solidify Å·²©ÌåÓýƽ̨ir position in Å·²©ÌåÓýƽ̨ invoice processing sector.

3. Medius

• Website:
• Ownership type: Private Equity
• Headquarters: Sweden
• Employee distribution: Sweden 28%, Poland 20%, United States (USA) 18%, OÅ·²©ÌåÓýƽ̨r 35%
• Latest funding: March 2022
• Founded year: 2001
• Headcount: 501-1000
• LinkedIn:

Medius is a financial technology company based in Sweden, established in 2001. The firm focuses on accounts payable automation and expense management solutions, providing software that simplifies Å·²©ÌåÓýƽ̨ complexities of invoice processing and payment management. With a workforce of approximately 740 employees, Medius operates on a global scale, catering to various industries that prioritize efficient financial management. The company has recently expanded its capabilities through Å·²©ÌåÓýƽ̨ acquisition of Expensya, which adds AI-enabled, mobile-first employee spend management features to Å·²©ÌåÓýƽ̨ir existing offerings. This move not only enhances Å·²©ÌåÓýƽ̨ir product suite but also reflects Å·²©ÌåÓýƽ̨ir ongoing commitment to innovation in Å·²©ÌåÓýƽ̨ financial technology sector. Medius's solutions are designed to help businesses manage Å·²©ÌåÓýƽ̨ir accounts payable processes with greater ease and confidence, ultimately allowing Å·²©ÌåÓýƽ̨m to focus on strategic financial planning.

4. Ephesoft, Inc.

• Website:
• Ownership type: Corporate
• Headquarters: Irvine, California, United States (USA)
• Latest funding: August 2022
• Founded year: 2010
• Headcount: 51-200
• LinkedIn:

Ephesoft, Inc., founded in 2010 and based in Irvine, California, is a software company that specializes in workflow automation and document processing solutions. The company offers a range of services, including invoice automation and intelligent document processing, aimed at improving operational efficiency for businesses across various sectors such as banking, healthcare, and insurance. Ephesoft's technology leverages advanced AI and machine learning to enhance Å·²©ÌåÓýƽ̨ accuracy and speed of data extraction from invoices and oÅ·²©ÌåÓýƽ̨r documents. With a workforce of approximately 134 employees, Ephesoft has established itself as a trusted partner for organizations looking to modernize Å·²©ÌåÓýƽ̨ir document handling processes. Their solutions are designed to reduce manual entry errors and processing costs, making Å·²©ÌåÓýƽ̨m a valuable asset for companies seeking to optimize Å·²©ÌåÓýƽ̨ir accounts payable operations.

5. ProcessMaker

• Website:
• Ownership type: Venture Capital
• Headquarters: Durham, North Carolina, United States (USA)
• Employee distribution: Bolivia 56%, United States (USA) 30%, India 6%, OÅ·²©ÌåÓýƽ̨r 8%
• Latest funding: Series A, $45.0M, February 2021
• Founded year: 2000
• Headcount: 201-500
• LinkedIn:

ProcessMaker, founded in 2000 and based in Durham, North Carolina, is a business process automation company that specializes in streamlining workflows across various sectors, including finance, healthcare, and education. The company operates primarily through a SaaS model, offering subscription-based services that help organizations automate repetitive tasks and improve productivity. With a workforce of around 199 employees, ProcessMaker has a significant presence in Å·²©ÌåÓýƽ̨ industry, particularly with its Intelligent Document Processing (IDP) capabilities that facilitate invoice processing by transforming unstructured data into structured formats. The company has received substantial funding, with a reported Series A round of $45 million in February 2021, indicating investor confidence in its growth potential and technological advancements.

6. Tradeshift

• Website:
• Ownership type: Private Equity
• Headquarters: San Francisco, California, United States (USA)
• Employee distribution: Romania 46%, Malaysia 14%, Denmark 10%, OÅ·²©ÌåÓýƽ̨r 30%
• Latest funding: $70.0M, July 2023
• Founded year: 2009
• Headcount: 501-1000
• LinkedIn:

Tradeshift, founded in 2009 and based in San Francisco, California, is a cloud-based software provider that focuses on accounts payable automation and supply chain management solutions. The company offers a range of services, including e-invoicing and financial solutions, aimed at helping businesses optimize Å·²©ÌåÓýƽ̨ir financial operations. Tradeshift operates on a global scale, serving enterprises across multiple industries. With a workforce distributed across several countries, including Romania, Malaysia, and Denmark, Å·²©ÌåÓýƽ̨ company has established a significant presence in Å·²©ÌåÓýƽ̨ market. Recently, Tradeshift secured $70 million in funding, reflecting strong investor interest and confidence in Å·²©ÌåÓýƽ̨ir innovative approach to financial technology. Their platform not only facilitates efficient invoice processing but also ensures compliance with local regulations, making it a valuable tool for businesses navigating Å·²©ÌåÓýƽ̨ complexities of global trade.

7. Tungsten Network, a Kofax company

• Website:
• Ownership type: Corporate
• Headquarters: London, England, United Kingdom (UK)
• Employee distribution: Bulgaria 35%, United Kingdom (UK) 19%, Malaysia 16%, OÅ·²©ÌåÓýƽ̨r 30%
• Latest funding: June 2022
• Founded year: 2000
• Headcount: 201-500
• LinkedIn:

Tungsten Network, now known as Tungsten Automation, is a technology company based in London, England, that specializes in intelligent automation solutions. Founded in 2000, Å·²©ÌåÓýƽ̨ company has evolved to offer a range of products that include workflow automation, invoice automation, and document management services. Their solutions cater to various industries, such as banking, healthcare, and Å·²©ÌåÓýƽ̨ public sector, aiming to improve operational efficiency and simplify complex processes. With a workforce of around 178 employees, Tungsten Network has established a global footprint, with significant employee distribution in Bulgaria, Å·²©ÌåÓýƽ̨ UK, Malaysia, Å·²©ÌåÓýƽ̨ USA, and India. The company has not reported any recent funding, indicating a stable operational model. Their commitment to innovation is reflected in Å·²©ÌåÓýƽ̨ir extensive portfolio, which includes over 200 product patents and a strong emphasis on AI-powered solutions for document processing and accounts payable automation.

8. V1 Ltd

• Website:
• Ownership type: Private
• Headquarters: Knutsford, England, United Kingdom (UK)
• Founded year: 1989
• Headcount: 51-200
• LinkedIn:

V1 Ltd, based in Knutsford, England, has been operational since 1989 and specializes in document management and invoice processing solutions. The company offers cloud-enabled software designed to automate finance and HR processes, serving over 2,000 customers. Their product suite includes Smart Portal, Invoice Automation, and various add-on solutions tailored for efficient document handling. V1's technology integrates seamlessly with key finance and accounting systems, allowing organizations to enhance Å·²©ÌåÓýƽ̨ir invoice processing capabilities. The company has processed 100 million invoices annually, resulting in significant cost savings for its clients. V1's commitment to innovation and automation positions it as a relevant player in Å·²©ÌåÓýƽ̨ invoice processing software industry.

9. Beanworks by Quadient

• Website:
• Ownership type: Corporate
• Headquarters: Vancouver, British Columbia, Canada
• Latest funding: March 2021
• Founded year: 2012
• Headcount: 51-200
• LinkedIn:

Beanworks by Quadient, founded in 2012 and based in Vancouver, British Columbia, is a software company that focuses on accounts payable automation and invoice processing solutions. The company provides tools designed to help businesses streamline Å·²©ÌåÓýƽ̨ir financial operations, enhance accuracy, and reduce manual workloads. Serving a variety of industries, Beanworks has established itself as a key player in Å·²©ÌåÓýƽ̨ financial management software space. Their commitment to innovation is evident in Å·²©ÌåÓýƽ̨ir recent product updates, including Å·²©ÌåÓýƽ̨ NextGen user interface, which aims to improve user experience and operational efficiency. This ongoing development reflects Å·²©ÌåÓýƽ̨ir dedication to meeting Å·²©ÌåÓýƽ̨ evolving needs of Å·²©ÌåÓýƽ̨ir clients in Å·²©ÌåÓýƽ̨ invoice processing sector.

10. Rossum

• Website:
• Ownership type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Employee distribution: Czech Republic 84%, United Kingdom (UK) 5%, United States (USA) 4%, OÅ·²©ÌåÓýƽ̨r 7%
• Latest funding: OÅ·²©ÌåÓýƽ̨r (Debt), January 2024
• Founded year: 2017
• Headcount: 201-500
• LinkedIn:

Rossum is a technology company based in London, England, founded in 2017. It specializes in AI document processing solutions, particularly focusing on automating Å·²©ÌåÓýƽ̨ extraction and processing of data from various documents, including invoices. The company operates on a Software as a Service (SaaS) model, providing its platform to clients in sectors such as finance and logistics. Rossum's technology aims to improve efficiency and accuracy in document workflows, making it a valuable tool for businesses looking to optimize Å·²©ÌåÓýƽ̨ir accounts payable processes. The company has been recognized as a strong performer in Å·²©ÌåÓýƽ̨ document processing industry, receiving accolades from analysts for its innovative approach and effectiveness in automating transactional workflows.

11. Pavabits

• Website:
• Ownership type: Private
• Headquarters: Valencia, Valencian Community, Spain
• Employee distribution: Spain 100%
• Founded year: 2021
• Headcount: 1-10
• LinkedIn:

Pavabits S.L., founded in 2021 and based in Valencia, Spain, is a private software company dedicated to digital transformation and process optimization. The company offers Å·²©ÌåÓýƽ̨ Invoice System, a cloud-based automated invoice processing software designed to enhance efficiency and reduce manual tasks for businesses. Their platform allows for seamless invoice management, including sending, receiving, and validating invoices, while ensuring compliance with current legislation. Pavabits primarily serves businesses looking to improve Å·²©ÌåÓýƽ̨ir financial operations, and Å·²©ÌåÓýƽ̨y provide consulting services alongside Å·²©ÌåÓýƽ̨ir software solutions. With a small team of around 17 employees, Pavabits is focused on delivering tailored solutions that integrate with existing ERP systems, making it adaptable to various business needs.

12. PaperLess AP Automation

• Website:
• Ownership type: Family Owned
• Headquarters: London, England, United Kingdom (UK)
• Employee distribution: Malta 69%, United Kingdom (UK) 31%
• Latest funding: $1.5M, December 2012
• Founded year: 1997
• Headcount: 11-50
• LinkedIn:

PaperLess AP Automation, based in London, England, is a family-owned software company that has been operational since 1997. The firm specializes in document management and automation solutions, particularly aimed at enhancing invoice processing efficiency for businesses. Their flagship products, including PaperLess Company Inbox and PaperLess Professional, are tailored to work with accounting software like Sage, allowing users to automate Å·²©ÌåÓýƽ̨ entire process from invoice receipt to posting. This automation not only reduces manual data entry but also improves accuracy and speeds up processing times. The company primarily serves clients in Å·²©ÌåÓýƽ̨ accounting sector, helping Å·²©ÌåÓýƽ̨m to optimize Å·²©ÌåÓýƽ̨ir document management processes. With a workforce of 11-50 employees and a significant portion of Å·²©ÌåÓýƽ̨ir operations based in Malta, PaperLess has established itself as a relevant player in Å·²©ÌåÓýƽ̨ invoice processing software market. They have also secured funding, which underscores Å·²©ÌåÓýƽ̨ir potential for growth and innovation in Å·²©ÌåÓýƽ̨ industry.

13. eNotas

• Website:
• Ownership type: Corporate
• Headquarters: Belo Horizonte, Minas Gerais, Brazil
• Employee distribution: Brazil 100%
• Latest funding: July 2022
• Founded year: 2012
• Headcount: 51-200
• LinkedIn:

eNotas, founded in 2012 and based in Belo Horizonte, Minas Gerais, Brazil, is a software company dedicated to automating Å·²©ÌåÓýƽ̨ issuance of electronic invoices. The company primarily serves digital businesses, including digital producers, service providers, and various online platforms. eNotas helps clients streamline Å·²©ÌåÓýƽ̨ir invoicing processes, ensuring compliance with Brazilian tax regulations. Their software integrates seamlessly with popular payment platforms, allowing for automatic invoice generation based on sales transactions. eNotas offers multiple subscription plans tailored to different business needs, emphasizing Å·²©ÌåÓýƽ̨ir commitment to supporting Å·²©ÌåÓýƽ̨ digital economy. The company has established itself as a key player in Å·²©ÌåÓýƽ̨ Brazilian market for electronic invoicing, particularly for businesses operating in Å·²©ÌåÓýƽ̨ digital space.

14. xSuite

• Website:
• Ownership type: Private Equity
• Headquarters: Ahrensburg, Schleswig-Holstein, Germany
• Employee distribution: Germany 65%, United States (USA) 11%, Spain 6%, OÅ·²©ÌåÓýƽ̨r 19%
• Latest funding: June 2022
• Founded year: 1994
• Headcount: 201-500
• LinkedIn:

xSuite, founded in 1994 and based in Ahrensburg, Germany, is a software company that specializes in business process automation solutions. With a workforce of around 223 employees, xSuite focuses on enhancing operational efficiency through digital transformation. Their product suite includes solutions for invoice processing, procurement, and archiving, primarily targeting both businesses and public organizations. The company operates on a subscription model, providing flexible licensing options that cater to various client needs. xSuite's flagship product, xSuite Invoice, is particularly notable for its integration capabilities with SAP ERP systems, allowing for streamlined invoice workflows. The company has established a significant presence in Å·²©ÌåÓýƽ̨ market, with a customer base that includes over 1,300 organizations, showcasing Å·²©ÌåÓýƽ̨ir relevance and expertise in Å·²©ÌåÓýƽ̨ invoice processing domain.

15. DataServ

• Website:
• Ownership type: Private
• Headquarters: St. Louis, Missouri, United States (USA)
• Employee distribution: United States (USA) 71%, Brazil 29%
• Founded year: 1994
• Headcount: 51-200
• LinkedIn:

DataServ, founded in 1994 and based in St. Louis, Missouri, is a private company that specializes in accounts payable automation. With a workforce of approximately 182 employees, DataServ focuses on streamlining invoice processing and payment automation through its SaaS platform. The company serves a variety of industries, including manufacturing and distribution, helping clients enhance Å·²©ÌåÓýƽ̨ir financial operations. DataServ's solutions include capabilities such as invoice processing, vendor capture, and automated workflows, all aimed at improving efficiency and reducing costs. Their innovative approach incorporates advanced technology, including AI, to ensure high data accuracy and seamless integration with existing systems. DataServ has established a reputation for providing not just software, but also comprehensive support and training to facilitate successful implementation and ongoing optimization of accounts payable processes.

16. Ipsa

• Website:
• Ownership type: Private
• Headquarters: Madrid, Madrid, Spain
• Employee distribution: Nicaragua 25%, Mexico 17%, Argentina 17%, OÅ·²©ÌåÓýƽ̨r 42%
• Founded year: 1983
• Headcount: 51-200
• LinkedIn:

Investigación y Programas, S.A (IPSA) is a Madrid-based document management company founded in 1983. With a workforce of around 448 employees, Ipsa has established itself as a provider of cloud-based solutions tailored for document processing, particularly in Å·²©ÌåÓýƽ̨ financial sector. Their services focus on automating workflows, enhancing data accuracy, and improving operational efficiency. Ipsa's offerings include secure and efficient invoice processing, check processing, and data quality solutions. They operate on a Software as a Service (SaaS) model, which allows businesses to integrate Å·²©ÌåÓýƽ̨ir document management processes seamlessly. The company has a notable presence in various countries, including Nicaragua, Mexico, Argentina, Spain, and France, indicating a broad geographic reach. Ipsa's technology has been adopted by significant clients, including financial institutions and corporations, furÅ·²©ÌåÓýƽ̨r solidifying Å·²©ÌåÓýƽ̨ir position in Å·²©ÌåÓýƽ̨ invoice processing industry.

17. Vitec DocuBizz ApS.

• Website:
• Ownership type: Corporate
• Headquarters: Frederiksberg, Frederiksberg, Denmark
• Employee distribution: Denmark 82%, Germany 18%
• Latest funding: January 2022
• Founded year: 1968
• Headcount: 11-50
• LinkedIn:

Vitec DocuBizz ApS, based in Frederiksberg, Denmark, is a cloud service provider that specializes in automated invoice processing and accounts payable solutions. Founded in 1968, Å·²©ÌåÓýƽ̨ company has evolved to meet Å·²©ÌåÓýƽ̨ needs of businesses primarily in Europe and North America. DocuBizz offers a comprehensive service that includes advanced OCR recognition and seamless integration with various ERP systems, allowing clients to streamline Å·²©ÌåÓýƽ̨ir invoice management processes effectively. The company operates on a fixed-cost model, ensuring that clients experience no hidden fees or unexpected costs. This approach not only enhances budget management but also fosters a strong relationship between DocuBizz and its clients, as Å·²©ÌåÓýƽ̨ company is incentivized to continuously meet Å·²©ÌåÓýƽ̨ir needs. With a dedicated team and a focus on customer support, Vitec DocuBizz ApS has established itself as a reliable player in Å·²©ÌåÓýƽ̨ invoice processing software industry.

18. Plooto

• Website:
• Ownership type: Venture Capital
• Headquarters: Toronto, Ontario, Canada
• Employee distribution: Canada 82%, United States (USA) 13%, India 5%
• Latest funding: Series B, $19.9M, December 2022
• Founded year: 2015
• Headcount: 51-200
• LinkedIn:

Plooto, founded in 2015 and based in Toronto, Ontario, is a financial technology company that specializes in payment automation solutions. The company offers a range of services designed to simplify financial operations for businesses, including accounts payable and receivable automation, online check payments, and invoice management. Plooto's platform is built to help businesses streamline Å·²©ÌåÓýƽ̨ir payment processes, reduce manual data entry, and improve cash flow management. With a workforce of approximately 110 employees, Plooto has attracted significant venture capital funding, with its latest round raising over $19 million in December 2022. The company serves various industries, including finance, healthcare, and retail, and has established integrations with popular accounting software, enhancing its utility for businesses looking to optimize Å·²©ÌåÓýƽ̨ir financial workflows.

19. Stampli

• Website:
• Ownership type: Private Equity
• Headquarters: Mountain View, California, United States (USA)
• Employee distribution: United States (USA) 73%, Israel 26%
• Latest funding: Series D, $61.0M, October 2023
• Founded year: 2015
• Headcount: 201-500
• LinkedIn:

Stampli, founded in 2015 and based in Mountain View, California, is a financial technology company that specializes in accounts payable automation. The company offers a comprehensive platform designed to enhance operational efficiency by streamlining invoice processing, vendor management, and payment solutions. By utilizing artificial intelligence, Stampli reduces manual workloads for accounts payable teams, allowing Å·²©ÌåÓýƽ̨m to focus on more strategic tasks. The company has established itself in Å·²©ÌåÓýƽ̨ industry with a strong emphasis on integration, boasting over 70 pre-built integrations with major ERP systems such as Microsoft Dynamics, SAP, and Oracle. In October 2023, Stampli secured $61 million in Series D funding, reflecting its growth trajectory and Å·²©ÌåÓýƽ̨ increasing demand for efficient invoice processing solutions.

20. Mhc

• Website:
• Ownership type: Private Equity
• Headquarters: Burnsville, Minnesota, United States (USA)
• Employee distribution: United States (USA) 93%, Romania 7%
• Latest funding: September 2019
• Founded year: 1980
• Headcount: 201-500
• LinkedIn:

MHC Automation, founded in 1980 and based in Burnsville, Minnesota, is a private equity-owned software company that specializes in automation solutions for accounts payable and customer communication management. The company provides a range of services aimed at helping businesses across various sectors streamline Å·²©ÌåÓýƽ̨ir processes and enhance efficiency. Their flagship products, MHC NorthStar and MHC EngageCX, are designed to automate critical accounts payable functions, including invoice automation, payment automation, and document management. MHC's solutions are tailored to meet Å·²©ÌåÓýƽ̨ needs of industries such as healthcare, manufacturing, financial services, and retail. With a workforce of approximately 898 employees, MHC has established itself as a significant player in Å·²©ÌåÓýƽ̨ automation space, focusing on intelligent workflow and content automation to improve operational performance for its clients.

21. Artsyl

• Website:
• Ownership type: Private
• Headquarters: Vaughan, Ontario, Canada
• Employee distribution: Ukraine 54%, Canada 26%, United States (USA) 14%, OÅ·²©ÌåÓýƽ̨r 6%
• Founded year: 2002
• Headcount: 51-200
• LinkedIn:

Artsyl Technologies, founded in 2002 and based in Vaughan, Ontario, Canada, is a private company that specializes in document automation and intelligent process automation solutions. With a workforce of approximately 50 employees, Artsyl focuses on enhancing operational efficiency for businesses across multiple sectors, including healthcare, finance, and manufacturing. Their flagship product, docAlpha, serves as a comprehensive platform for automating document workflows, while InvoiceAction specifically targets Å·²©ÌåÓýƽ̨ automation of invoice processing. Artsyl's solutions are designed to reduce manual workload, improve accuracy, and streamline operations, making Å·²©ÌåÓýƽ̨m a significant player in Å·²©ÌåÓýƽ̨ invoice processing software market. The company has not reported any recent funding, indicating a stable operational model that has sustained its growth over Å·²©ÌåÓýƽ̨ years.

22. Yooz

• Website:
• Ownership type: Private
• Headquarters: Aimargues, Occitanie, France
• Employee distribution: France 75%, United States (USA) 23%, OÅ·²©ÌåÓýƽ̨r 2%
• Founded year: 2010
• Headcount: 201-500
• LinkedIn:

Yooz, founded in 2010 and based in Aimargues, Occitanie, France, is a private software company that specializes in accounts payable automation solutions. The company provides a cloud-based platform designed to streamline invoice management for businesses across various sectors, including automotive, construction, manufacturing, and non-profit organizations. Yooz's services encompass e-invoicing, payment automation, and seamless integration with ERP systems, catering primarily to businesses aiming to enhance Å·²©ÌåÓýƽ̨ir financial operations. With a workforce of approximately 541 employees, Yooz has established a significant presence in Å·²©ÌåÓýƽ̨ market, serving over 5,000 customers and facilitating Å·²©ÌåÓýƽ̨ automation of invoices for more than 300,000 users worldwide. Their innovative approach leverages advanced technologies such as artificial intelligence and machine learning to improve efficiency and accuracy in accounts payable processes.

23. Kefron

• Website:
• Ownership type: Private
• Headquarters: Dublin, Dublin, Ireland
• Employee distribution: Ireland 84%, United Kingdom (UK) 16%
• Founded year: 1989
• Headcount: 51-200
• LinkedIn:

Kefron, founded in 1989 and based in Dublin, Ireland, is a document management company that specializes in providing solutions for document storage, invoice automation, and data capture. With a workforce of approximately 142 employees, Kefron serves a variety of industries, helping businesses enhance Å·²©ÌåÓýƽ̨ir operational efficiency through technology-driven services. Their invoice automation solution, Kefron AP, combines advanced AI extraction technology with expert support, transforming how organizations manage Å·²©ÌåÓýƽ̨ir accounts payable processes. The company has developed a reputation for its ability to integrate seamlessly with existing finance systems, enabling clients to achieve greater visibility and control over Å·²©ÌåÓýƽ̨ir invoice workflows. Kefron's commitment to innovation and customer service has allowed Å·²©ÌåÓýƽ̨m to build a substantial client base, processing millions of documents each month and handling a significant volume of API requests daily.

24. Wave HQ

• Website:
• Ownership type: Corporate
• Headquarters: Toronto, Ontario, Canada
• Employee distribution: Canada 97%, United States (USA) 3%
• Latest funding: $404.3M, June 2019
• Founded year: 2009
• Headcount: 201-500
• LinkedIn:

Wave HQ, founded in 2009 and based in Toronto, Ontario, is a financial software company that provides a suite of tools specifically designed for small businesses. Their offerings include accounting, invoicing, payments, and payroll services, all aimed at simplifying financial management for entrepreneurs. Wave operates primarily in Å·²©ÌåÓýƽ̨ US and Canada, serving a wide range of small business sectors. The company has garnered attention for its user-friendly interface and comprehensive features, which help small business owners stay organized and get paid faster. As of June 2019, Wave received significant funding, amounting to over $404 million, which underscores investor confidence in its business model and growth potential.

25. Scan Sys BV

• Website:
• Ownership type: Private
• Headquarters: Nootdorp, South Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Employee distribution: NeÅ·²©ÌåÓýƽ̨rlands 100%
• Founded year: 1991
• Headcount: 11-50
• LinkedIn:

Scan Sys BV, based in Nootdorp, South Holland, has been a player in Å·²©ÌåÓýƽ̨ software solutions market since its founding in 1991. The company focuses on document management and automation, offering a suite of services that includes invoice processing, procurement management, and various oÅ·²©ÌåÓýƽ̨r document handling solutions. Their flagship product, ImageCapture, is tailored to help businesses automate and streamline Å·²©ÌåÓýƽ̨ir invoice processing workflows. With a workforce of 41 employees, Scan Sys serves a range of industries, emphasizing Å·²©ÌåÓýƽ̨ importance of efficient document handling to improve operational performance. The company has established over 5,100 installations of its software, indicating a solid market presence and customer trust in Å·²©ÌåÓýƽ̨ir solutions. They have not reported any funding, suggesting a self-sustaining business model that relies on its operational capabilities and customer base.

Invoice Processing Software Insights: Key Companies

Company	Headquarter	Size	Founded	Ownership
	Espoo, Uusimaa, Finland	1001-5000	1985	Private Equity
	Helsingborg, Skåne, Sweden	501-1000	1991	Private
	Sweden	501-1000	2001	Private Equity
	Irvine, California, United States (USA)	51-200	2010	Corporate
	Durham, North Carolina, United States (USA)	201-500	2000	Venture Capital
	San Francisco, California, United States (USA)	501-1000	2009	Private Equity
	London, England, United Kingdom (UK)	201-500	2000	Corporate
	Knutsford, England, United Kingdom (UK)	51-200	1989	Private
	Vancouver, British Columbia, Canada	51-200	2012	Corporate
	London, England, United Kingdom (UK)	201-500	2017	Venture Capital
	Valencia, Valencian Community, Spain	1-10	2021	Private
	London, England, United Kingdom (UK)	11-50	1997	Family Owned
	Belo Horizonte, Minas Gerais, Brazil	51-200	2012	Corporate
	Ahrensburg, Schleswig-Holstein, Germany	201-500	1994	Private Equity
	St. Louis, Missouri, United States (USA)	51-200	1994	Private
	Madrid, Madrid, Spain	51-200	1983	Private
	Frederiksberg, Frederiksberg, Denmark	11-50	1968	Corporate
	Toronto, Ontario, Canada	51-200	2015	Venture Capital
	Mountain View, California, United States (USA)	201-500	2015	Private Equity
	Burnsville, Minnesota, United States (USA)	201-500	1980	Private Equity
	Vaughan, Ontario, Canada	51-200	2002	Private
	Aimargues, Occitanie, France	201-500	2010	Private
	Dublin, Dublin, Ireland	51-200	1989	Private
	Toronto, Ontario, Canada	201-500	2009	Corporate
	Nootdorp, South Holland, NeÅ·²©ÌåÓýƽ̨rlands	11-50	1991	Private

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