Companies and contractors may believe that using one general accounting software solution, such as Foundation, to manage their day-to-day operations is sufficient. However, many companies still rely on additional process-oriented solutions to run their accounts payable (AP), job costing, and financial reporting departments more effectively.
That’s why using AP automation solutions that fully integrate with Foundation is key, as it eliminates the need to manually enter or exchange data between the systems. This step saves your team time and also ensures greater accuracy.
Since there are many AP solutions that integrate with Foundation, finding the right one for your company is challenging. For that reason, we’ve put together a list of the top AP automation solutions below, detailing their pros and cons and who stands to benefit from each one. We also share why integrated, automated solutions are key to better construction outcomes.
Importance of AP Automation in Construction
Integrated AP automation solutions pull data from different systems, giving you a comprehensive view of your construction finances. And with features that sync data automatically, you’ll always have accurate, real-time information at your fingertips. These steps ensure accurate construction data flows seamlessly between your AP, job costing, and other financial departments.
Automation software also streamlines these processes by handling repetitive administrative tasks on its own — improving workflows and allowing your team to focus on more important tasks. It speeds up your AP processing and approval time while helping reduce duplicate or missed payments. You’ll gain greater visibility into project finances and performance so your construction company can make informed decisions.
Key Criteria to Consider
When choosing an AP solution that integrates with Foundation software, you must consider several factors.
- Automation Features: One must-have feature is optical character recognition (OCR), which automatically converts images of text from invoices, receipts, and other documents into a machine-readable format to eliminate manual data entry. Also, look for automated accounting and financial workflows, especially for approval and payment processes.
- Ease of Use and Accessibility: To benefit from an integrated AP solution, it needs to be easy for your entire team to adopt and navigate. Consider solutions with simple, user-friendly interfaces accessible to less tech-savvy employees.
- Compliance and Audit Trails: For full financial transparency and to prevent fraud, the AP solution you select must verify and validate financial data and transactions through audit trails. This feature tracks the entire lifecycle of your invoices and payroll, ensuring you comply with all regulations.
Solution 1: hh2 Document Flow: AP Automation Built for Construction
Document Flow is a cloud-based AP automation solution designed to help construction companies simplify and speed up their AP process.
Overview and Key Features
hh2 designed their AP automation solution to meet the specific needs of construction companies, helping better connect your back office with the field. Document Flow lets you go paperless by automatically uploading invoices into your system as they appear. Along with centralizing your financial data, it allows you to create custom approval pathways to automatically route approvals and expenses to the right staffers at the right time.
Pros and Cons
Pros:
- Uses advanced OCR technology to automate invoice processing and turn hard copies into searchable data
- hh2’s app allows you to scan and code invoices and receipts from your mobile device at the point of purchase
- Seamlessly integrates with Foundation to streamline AP, job costing, and financial management
- User-friendly app and web-based software your whole team can use (even in the field)
Cons:
- The solutions are designed specifically for the construction industry, so it may not be the best AP automation option for other businesses.
Best For
Contractors and construction companies that want real-time access to invoices, purchasing documents, and other key accounting data.
Solution 2: AvidXchange: End-to-End AP Automation with Payment Processing
AvidXchange’s AP and payment automation integrate with Foundation so you can process invoices and make secure payments faster.
Overview and Key Features
Integrating AvidXchange with Foundation allows your business to eliminate manual data entry of invoices and payments. Other key features include flexible workflow options and purchase-to-pay AP process automation.
Pros and Cons
Pros:
- Lets you paperlessly process invoices and payments
- Automation features designed to reduce administrative work and optimize AP workflows through custom routing
- Increases visibility into AP processes to reduce errors and avoid delays in payments
Cons:
- Has a steeper learning curve than other solutions, with limited customer education resources
- Users also note that searching for specific invoices can be difficult and the platform occasionally has technical difficulties
Best For
AvidXchange is a great option for contractors and construction companies that want to send or receive payments through their AP solution.
Solution 3: Corpay: Streamlined AP with Payment and Expense Management
Another top solution is Corpay.
Overview and Key Features
Corpay’s all-in-one AP solution allows you to automate more of your AP lifecycle on a single platform, from invoice processing through approval and payment, for improved management, accuracy, and efficiency. It even allows you to streamline purchase order requests and pay vendors to reduce bottlenecks.
Pros and Cons
Pros:
- Offers a user-friendly interface that integrates with Foundation and many other accounting tools
- Streamlines AP operations and includes payment and purchase order functions
- Allows you to track and manage expenses in real-time to help control costs
Cons:
- This solution is pricier than others, and you’ll there are additional costs if you want to use Corpay’s full suite of tools and features
- Some users found it complex to implement, while others had occasional issues with delayed vendor payments
Best For
Companies that want purchase order automation included in their AP solution.
Solution 4: WorkMax by AboutTime Technologies: Time and AP Data Combined
WorkMax is a cloud-based time tracking and project costing solution acquired by Foundation software, ensuring seamless integration between the two systems.
Overview and Key Features
This solution includes time-tracking features and payroll, billing, and expense management. WorkMax’s automation is designed to accelerate payroll and billing processing time while increasing accuracy. It also offers project cost management features such as document and asset tracking.
Pros and Cons
Pros:
- Has a centralized control center where you can set up role and permissions-based approval paths
- Accurately captures time and expenses from the field for real-time job costing and financial reporting
- Easily integrates with Foundation and over 100 other payroll, accounting, and ERP solutions
Cons:
- It’s primarily a time tracking and payroll solution, so it may not offer the full AP lifecycle solutions you’re looking for
Best For
Consider WorkMax if you want modern time-tracking options or to automate job costing processes in addition to AP automation.
Solution 5: Stampli: AI-Driven AP with Intuitive Interface
This cloud-based AP automation solution uses an intuitive interface to take advantage of the integrated platforms.
Overview and Key Features
Stampli automates your AP process through its collaboration hub, which syncs invoice and payment data and offers communication tools. Its hub can also sync vendor lists, general ledger accounts, open purchase orders and line items, and custom coding fields. Stampli also offers integrated payments and vendor management options.
Pros and Cons
Pros:
- Its collaboration hub centralizes all your communication, documentation, and workflows for increased efficiency, visibility, and accuracy
- AI-powered and integrates with Foundation
- The intuitive, user-friendly solution can deploy in weeks and doesn’t require extensive IT knowledge
Cons:
- Users have run into some problems with Stampli’s invoicing functionalities, like flagging recurring invoices as duplicates
Best For
This solution is ideal if you want to be up and running with minimal training.
Want to see an AP automation solution in action? Book a demo of hh2 Document Flow to see how it simplifies your construction AP process and helps you stay in compliance.