Companies, freelancers and even private individuals sometimes receive confusingly large quantities of invoices that can only be managed with considerable effort. It can take a lot of time to enter, check, pay and finally archive invoices. However, an automated invoice management system can relieve you of many tasks and significantly streamline the processes.
Solutions such as Getmyinvoices and Invoicefetcher offer you as a user numerous practical functions that almost automate invoice management. However, both programmes have their own advantages and disadvantages, so a direct comparison is extremely important.
Invoice management software in comparison
Due to the different functions, services and prices, a comparison is only possible with a methodical approach. Therefore, you should first look at some basic aspects of the respective provider before you then include personal requirements.
Some points are particularly important:
- Does the software offer all the necessary functions?
- Is the operation and integration simple?
- Are the costs low and transparent?
- Is there helpful customer support?
- Does the solution fit in with one’s own workflow?
Of course, there are many other factors that can play an important role for you personally. Therefore, in the end, always check as precisely as possible which specifications the respective software fulfils.
What are the advantages of automatic invoice management?
Many companies today still spend far more time on invoice management than is actually necessary in the age of digitisation. There are smart solutions that can automate many tasks. The advantages are clear: the effort and costs of managing invoices are rapidly reduced. Employees then have all the more time to concentrate on the important tasks of everyday life.
For example, automatic invoice management helps you to record, pay and archive all invoices. The error rate is also reduced considerably, because manual and human errors are practically eliminated. Furthermore, such tools even offer the option of forwarding desired invoices directly to the tax advisor. Ultimately, this also simplifies communication and the annual financial statement.
Getmyinvoices vs. Invoicefetcher in comparison
In principle, both providers can easily fulfil all important requirements for smart invoice management. Nevertheless, there are some advantages and disadvantages with the respective solution – so a comparison can be extremely useful.
Getmyinvoices
Behind the popular solution Getmyinvoices is the provider fino data services from Germany. It is a young and agile FinTech company that mainly impresses with its high customer orientation.
Features
Getmyinvoices offers users an automatic invoice management system that can significantly streamline all processes around it. The automatic collection of receipts works directly via the respective customer portal that issues the invoice or via email receipt as well as the smart scan app. In this way, both digital and physical invoices can be easily captured.
In the next step, the software allows for the very simple and digital approval of invoices. No one has to collect signatures manually to pay an invoice. The processing is completely digital and therefore faster and more secure than ever before. In the end, all invoices & documents can then be easily saved and exported if required.
Integrations
But a good automated invoice management software must above all also be comprehensively integrated into the daily work routine. Getmyinvoices can shine with countless integrations to all popular accounting programmes, including for example lexoffice, sevDesk and DATEV. But also document management systems and e-commerce platforms are comprehensively covered.
Even your tax advisor can use Getmyinvoices to fully digitalise the collaboration with you and your company. In doing so, he gets access to all important invoices, which he can then use for an even faster year-end closing. Even your own bank account can be easily linked to create a transparent connection to the actual flow of money.
Prices
The provider relies on five different packages, essentially scaling up the number of users, portal connections and documents. This means that if you pay more, you can process more invoices. The cheapest package starts at 11 euros a month, in an annual offer it costs 95 euros (a discount of 37 euros after all).
At the other end, the enterprise version costs 59 euros a month or 559 euros a year. In principle, the various packages are simply structured and transparent throughout. With the optional add-on “Workflow Management”, all prices double and triple, depending on the package.
Invoicefetcher
Another popular programme for automated invoice management is Invoicefetcher. The eponymous company behind it is also based in Germany and has been in business successfully for almost 10 years. During this time, it has been able to win many well-known customers.
Features
Invoicefetcher primarily focuses on downloading and saving invoices from customer portals and emails. This is because as digitisation increases, other methods of invoicing are becoming increasingly unpopular. This costs a little flexibility in automating paper invoices, but in principle this also meets all requirements for most users.
The powerful software then stores all invoices in the cloud, which can then be easily accessed by several authorised people in the company at the same time, if required. This not only makes invoice management incredibly efficient, but also creates a transparent working environment.
Integrations
Invoicefetcher also integrates to numerous accounting programs to allow for automatic exchange, but other programs are generally not covered. So there is far less coverage than with competitor Getmyinvoices.
This still meets the basic requirement for automatic invoice management, but some additional applications may be denied. For example, it is only possible to upload invoices to your own system with some detours. Or you must at least set up a process that automates this beforehand.
Prices
When it comes to prices, however, Invoicefetcher can fully convince. There are six rates in total, the first of which is even completely free. In return, you still get two online portals that you can link to the system. The best direct comparison is the starter tariff with five online portals, which costs 8.99 euros per month.
Getmyinvoices, on the other hand, charges 11 euros a month for five portal connections on a monthly basis, which is about 20 % more. The largest package, called Professional, costs 33.99 euros a month at Invoicefetcher, which is also cheaper than the competitor’s comparable offer.
Comparison table
| Getmyinvoice | Invoicefetcher | |
|---|---|---|
| Functions | ++ | + |
| Integrations | ++ | + |
| Prices | + | ++ |
Conclusion: Getmyinvoice offers more – Invoicefetcher is cheaper
In conclusion, both programmes do an excellent job of meeting the most important requirements for automated invoice management. However, Getmyinvoice has the edge in these areas due to its more functions and better integration options, whereas Invoicefetcher can convince with its pricing and can even be used for free. In the end, you have to decide which is more important to you personally.
Would you like to try out both programmes with all their functions in advance? Of course you can. You can test Getmyinvoices free of charge for 14 days without a credit card. Or you can check out all the functions of Invoicefetcher by simply registering for the demo.