The 7 Best Cash Management Tools for 2023 - (2024)

The 7 Best Cash Management Tools for 2023 - (1)

Managing cash flow efficiently is critical for any business, but many finance teams struggle with outdated, siloed systems that create friction and inefficiencies. Traditional payment and billing solutions often lack key features and integration that today’s finance leaders need to operate optimally. That’s why forward-thinking companies are exploring new cash management platforms designed for the digital era.

Legacy tools like paper checks and desktop software can’t keep up with the pace of modern business. They lack mobility, automation, and the ability to integrate with other business applications., Melio, Tipalti, AvidxChange, Stampli and built their products to solve these problems, but choosing the right one for your business is important. Modern finance teams need an intelligent hub to centralize cash processes and illuminate opportunities for revenue growth. The following article will highlight the top tools that offer a new, efficient approach to managing cash in the digital age.

The Best All Around:

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When it comes to effective cash management, stands out as the ideal solution. It’s a comprehensive platform that streamlines your cash flow by seamlessly managing payables, receivables, and financing. With, automating payables is effortless; simply forward invoices to a unique email address, triggering bank transfers without the need for manual processing through various bank portals.

On the receivables front, you can craft tailored payment plans, automate reminders, and ensure prompt payments with pre-authorized debits. This strategic approach optimizes your cash flow by eliminating delays in payments. also offers transaction-based financing, providing rapid approval and same-day funding for substantial customer orders.

Key Features

  • Automate and simplify: Streamline your entire process, from quote to cash. Send, receive and finance customer orders more efficiently than ever.
  • Bring your own payments: Quickly connect your own payment processor to start receiving digital payments with no disruption.
  • No integration costs: Get started quickly – for free. Pay as you grow.
  • Work from anywhere: Manage your business transactions on any device, using simple but powerful cloud-based tools.
  • Built for teams: Set permissions for each user in your team to ensure that they can access only what you want.

Streamline Payables for Efficient Cash Management

Managing payables effectively is crucial for cash management, and excels in simplifying this process. It consolidates and automates your payables through a single, user-friendly platform. Say goodbye to the hassle of logging into multiple bank portals for manual payments. With, you can forward invoices to a unique email address, triggering automatic bank transfers for vendor payments, saving time and reducing effort.

Read this if you want to know about How to Automate Accounts Payable

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Responsive Customer Support for Financial Peace of Mind offers dedicated customer support with knowledgeable representatives who respond promptly to your queries via phone, chat, or email. No more waiting hours for an email reply; ensures you receive fast and effective support when needed.

Optimize Cash Flow with Custom Payment Plans

Enhancing cash flow is a priority, and enables you to achieve this by creating custom recurring payment plans for each client. Additionally, you can use features like automated payment reminders and pre-authorized debits to ensure clients pay on time as per the agreed schedule. Prompt customer payments significantly boost your cash flow, allowing you to focus less on accounts receivable and more on reinvesting in business growth.

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Easy Access to Financing

Accessing financing swiftly is vital for cash management, especially for large customer orders. simplifies this process by offering near-instant approval and same-day funding directly through the platform. Say goodbye to lengthy applications and traditional banks. This integrated financing empowers you to confidently accept new business opportunities without worrying about capacity limitations.

Start, Customize, and Scale Effortlessly ensures a smooth onboarding process. You can connect your business bank accounts and payment processors at no cost. Furthermore, the platform is highly customizable, allowing you to tailor its features to suit your evolving business needs over time. grows with your company, providing convenient access to financing as you expand.

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Intuitive Tools for Time-Saving Cash Management simplifies cash management with intuitive, user-friendly tools. Its centralized dashboards condense your financial data into an accessible format on any device. This centralized hub for payables, receivables, and financing provides an intuitive snapshot, saving you valuable time. Plus, the user-friendly interface allows you to work seamlessly from your phone or tablet, ensuring efficient cash management wherever you are.

Robust Security for Your Financial Peace of Mind prioritizes the security of your financial data. It employs the highest standards, including AES-256-bit encryption, adhering to PCI and SOC compliance guidelines. Your data protection is paramount, and ensures that sensitive information is not directly stored. It operates via certified Level 1 PCI payment processors, providing peace of mind regarding your financial security.

Best Cost-Effective Software: Melio

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Melio is an accounts payable and cash management automation software that helps businesses optimize their bill payment workflow. It allows users to pay vendor bills electronically via bank transfer, virtual card, or check to maximize their cash flow. Melio syncs with accounting software like QuickBooks for seamless integration with any other key accounting tools.


  • Send ACH payments to vendors for free
  • Pay vendor bills with debit/credit card to optimize cash flow
  • Automatically sync Melio with QuickBooks Online and Desktop
  • Schedule future payments in advance
  • Mail physical checks on your behalf

Pay Bills with Cards

Optimize cash flow by paying vendors electronically with a virtual debit or credit card. The payment arrives as a bank transfer to the vendor while extending the cash float for your business. It is useful for managing cash flow crunches.

Schedule Payments

Schedule bill payments in advance with just a few clicks. Melio lets you set payment dates for anytime in the future so you never miss a payment deadline. Useful for automating recurring payments.


Melio offers a free basic plan. Advanced features like faster payments, bulk payments, and API access require upgraded plans starting at $29/month. Transaction fees apply for non-ACH payments.

Best Real Time Tool: Tipalti

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Tipalti is a cash management software that streamlines global supplier payments and financial operations. It automates invoice processing, approvals, payment execution, reconciliation and tax compliance.


  • Automated supplier onboarding and validation
  • Multi-entity, multi-currency support
  • Real-time payment tracking and reconciliation
  • Robust tax compliance capabilities
  • PO and invoice automation
  • Supplier portal and communication

Automated Invoice Processing

Tipalti automatically captures and codes supplier invoices using OCR technology. It learns from historical data to auto-populate invoice details, reducing manual data entry by 80%.

Global Payment Execution

The platform enables supplier payments in over 190 countries, 120 currencies via bank transfer, check, or local payment methods. Tipalti can handle almost all regulatory and tax compliance situations as well.

Payment Visibility

Tipalti provides suppliers with a self-service portal to view invoice and payment status in real-time. It improves supplier communication and cash flow visibility.


Tipalti pricing starts at $149/month for basic features. Advanced plans with additional users, entities, and customizations are priced on request.

Best for Basic Automation: AvidXChange

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AvidXchange is an accounts payable automation software that eliminates paper and manual processes. It digitizes the entire invoice-to-payment workflow.


  • Email invoices directly into AvidXchange
  • Automated routing, matching, and approvals
  • Integrations with accounting systems
  • Secure digital repository
  • Online payments via AvidPay

Digital Invoice Processing

Vendors email invoices directly into AvidXchange for automated data extraction and coding. It reduces manual data entry by up to 80%.

Configurable Workflows

AvidXchange routes invoices to approvers based on rules and thresholds. It enforces compliance and financial controls.


Make electronic payments to suppliers via ACH, virtual card, or check. It optimizes cash flow and earns rebates.


AvidXchange pricing is customized based on monthly invoice volume. You would need to contact AvidXchange for an accurate quote.

Best for Integrations: Stampli

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Stampli is an accounts payable automation software that streamlines invoice processing and approvals. It integrates with over 70 leading ERPs, and is a versatile cash management tool.


  • Automated invoice capture and data extraction
  • Configurable invoice routing and approvals
  • Real-time reporting and analytics
  • Payment integration with major banks
  • Fraud detection and prevention

Intelligent Data Capture

Stampli uses AI and machine learning to automatically capture invoice data, reducing manual data entry by over 80%.

Invoice Workflow Automation

The platform routes invoices for automatic 2- and 3-way matching. It enforces compliance by automating approvals based on rules.

Analytics and Reporting

Stampli provides real-time dashboards, analytics, and reporting for full visibility into AP metrics like invoice cycle times, disputes, and more.


Stampli pricing is customized based on number of invoices processed per month.

Best for Multiple Users:

The 7 Best Cash Management Tools for 2023 - (10) is a financial operations platform for SMBs. Their platform automates payables, receivables, and expense management. Their specialty is small businesses with complex AP and AR needs, and they are a great cash management tool, especially if you are dealing with complex cash management needs.


  • Automated Bill Processing
  • Customizable Approval Workflows
  • Real-time Financial Insights
  • QuickBooks Desktop Integration


Automated Bill Processing

Reduce the time and effort required for bill processing, allowing your team to focus on strategic tasks while minimizing errors.

Multi-Approver Workflow

Customize approval workflows to match your organization’s needs, ensuring all bills go through the appropriate channels for review and approval.

Real-time Visibility

Access real-time financial data, providing you with the insights needed to make informed decisions and manage your finances effectively.

Integration with QuickBooks Desktop

Effortlessly sync with QuickBooks Desktop, streamlining your accounting processes and ensuring accuracy.

Pricing offers flexible pricing options tailored to the specific needs of their customers, but plans start at $45 per month.

Best for Larger Companies: Airbase

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Airbase is the premier modern spend management platform designed for businesses with 100-5,000 employees. It offers an integrated solution to control spending, expedite financial closing, and mitigate financial risk. Airbase combines accounts payable automation, expense management, and corporate cards into one cloud-based package.


  • Fast OCR technology for efficient data extraction.
  • User-friendly interface for easy adoption and reduced errors.
  • Integration with popular general ledgers.
  • Guided procurement from request to reconciliation, streamlining the purchasing process and ensuring oversight.
  • Robust reporting capabilities for in-depth financial analysis.

OCR Technology

Experience lightning-fast and mostly accurate data extraction with Airbase’s OCR technology, boosting efficiency in accounts payable processing.

User-Friendly Interface

Enjoy an intuitive platform that requires minimal training, enhancing user adoption and reducing errors.

Seamless Integration

Integrate Airbase effortlessly with popular general ledgers, ensuring accurate and efficient financial management.

Guided Procurement

Simplify procurement from request to reconciliation, fostering ease of use and providing oversight for all stakeholders.


Airbase offers flexible pricing plans, including Standard, Premium, and Enterprise options. For detailed pricing information and custom plans, you have to contact them directly.

Explore this guide to learn How to Simplify B2B Payments through Automation

What is the Best Cash Management Tool in 2023?

To summarize, excels across essential criteria such as automation, customization, reporting, support, and affordability. It provides comprehensive process automation, extensive customization options, centralized reporting dashboards, and responsive customer support. With its potent features, flexibility, and cost-effectiveness, stands out as the top choice for payment and financing management when compared to other alternatives.

Cashflow.ioFull automation for payables, receivables, financingHighly customizableCentralized dashboardsQuick responsive support via phone, chat, emailAffordable plans9/10
AirbaseFull automation across the AP process, approvals, invoicing, and moreModerate customizationStrong reporting and analyticsDecent supportCustom pricing based on business size7/10
MelioFull accounting automation including invoicing, reporting, and AR/APModerate customizationRobust analytics and insightsGood supportStarts at $20/month8/10
BILL.comFull financial automation including payables, receivables, cashflowModerate customizationRobust reporting and forecastingGood supportStarts at $79/month7/10
StampliAdvanced automation focused on AP and invoicingModerate customizationStrong reporting insightsDecent supportPaid subscription required7/10
TipaltiComprehensive automation for payables, global payments, expensesLimited customizationExtensive reporting and analyticsGood supportStarts at $149/month7/10

In Conclusion emerges as the best solution for modern businesses seeking to streamline their cash management processes. In a digital era where traditional systems fall short, offers a comprehensive approach that covers payables, receivables, and financing in one unified platform.

With its key features, including the ability to automate and simplify complex financial tasks, seamless integration with your preferred payment processors, and a user-friendly interface accessible from any device, stands out as the go-to choice for businesses of all sizes.

In a world where efficient cash management is vital, offers a complete solution that simplifies your financial operations, enhances cash flow, and propels your business forward. Say goodbye to the limitations of outdated tools and embrace the future of cash management with Check out their homepage to get started.

I am a finance expert with a deep understanding of cash management tools and their applications in modern businesses. My experience includes working with various financial platforms and staying updated on the latest trends in the industry.

Now, let's delve into the concepts mentioned in the article about managing cash flow efficiently for businesses:

  1. Challenges with Outdated Systems: The article highlights that many finance teams struggle with outdated, siloed systems that create inefficiencies. Legacy tools like paper checks and desktop software lack mobility, automation, and integration capabilities. This sets the stage for the need for modern cash management solutions.

  2. Introduction to New Cash Management Platforms: Companies are exploring new platforms designed for the digital era to overcome the limitations of traditional payment and billing solutions. The mention of, Melio, Tipalti, AvidxChange, Stampli, and as tools built to address these challenges indicates a shift towards more advanced and integrated solutions.

  3. Importance of Choosing the Right Tool: The article emphasizes the importance of choosing the right cash management tool for efficient operation. It acknowledges that each platform has unique features and integrations, making the selection crucial for a business's specific needs.

  4. as the All-Around Solution: is highlighted as the best all-around solution. The key features of include comprehensive automation, customization, centralized dashboards, responsive customer support, and affordability. It addresses payables, receivables, and financing in a unified platform.

  5. Detailed Features of

    • Streamlining Payables: simplifies payables by consolidating and automating payments through a user-friendly platform.
    • Responsive Customer Support: Dedicated customer support ensures prompt responses to queries via phone, chat, or email.
    • Custom Payment Plans: The platform enables the creation of custom recurring payment plans for clients, optimizing cash flow.
    • Access to Financing: provides near-instant approval and same-day funding for large customer orders, simplifying the financing process.
    • Easy Onboarding and Scalability: The platform ensures a smooth onboarding process, offering customization as the business grows.
  6. Security Measures of prioritizes the security of financial data, employing high standards of encryption and complying with PCI and SOC guidelines. This ensures robust protection of sensitive information.

  7. Comparison with Other Tools: The article compares with other tools like Melio, Tipalti, AvidxChange, Stampli, and based on criteria such as automation, customization, reporting, support, and affordability. emerges as the top choice across these parameters.

  8. Recommendation and Conclusion: The conclusion reiterates as the best solution for businesses seeking to streamline cash management processes. It emphasizes the platform's ability to simplify financial operations, enhance cash flow, and cater to businesses of all sizes.

In summary, the article provides a comprehensive overview of the challenges in cash management, introduces modern solutions, and highlights the specific features that make a leading choice in the digital era.

The 7 Best Cash Management Tools for 2023 - (2024)


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