In today’s fast-paced business landscape, the ability to manage payments efficiently is paramount. Enter Melio, a platform that has gained recognition for its prowess in simplifying payment processes for businesses of all sizes. However, in a world of ever-evolving technology and innovation, staying ahead often means exploring alternative solutions. In this blog, we will discover the top 5 Melio alternatives in the payment management space.
Whether you’re a small startup looking to streamline your vendor payments or a growing enterprise seeking a more comprehensive payment management solution, this exploration will provide you with valuable insights into the alternatives available.
These competitors have entered the fray with their distinct features, capabilities, and user-friendly interfaces, vying for the attention of businesses looking for a simple and efficient way to handle financial transactions. Discover the contenders that might just offer the ideal fit for your business needs.
Reasons Why You Should Consider Melio Alternatives
Melio is one of the best free web-based solutions to help you manage your accounts payable and pay your bills conveniently via bank transfers, checks, or credit cards. Melio also lets you easily automate payments with a payment scheduling feature, making it a perfect choice for busy entrepreneurs on the go.
However, Melio is currently available only to small businesses, limiting its utility primarily to startups and small ventures. As your business grows, you will need to look for alternatives to Melio payments that can meet your evolving business needs.
Many Melio competitors offer various plans, depending on the features and pricing structure. Comparing and contrasting these alternatives with your business needs can enable you to make a well-informed decision before purchasing. This can ensure you do not choose a solution incompatible with your needs.
Here are the top five Melio alternatives that you can explore for your payment processing needs:
- Bill.com: Best for managing accounts receivable, accounts payable, and cash flow
- Plastiq: Best for payables automation, accounting integration, and cash flow management
- Sage Intacct: Best for fast-growing small and medium-sized businesses
- QuickBooks Online: Best for overall accounting management·
- QuickBooks Desktop Pro: Best for analytics and reporting features
Melio Vs. Alternatives
Evaluating the comparable features of Melio and its top alternatives can give you an overview of the offerings of each solution. Although many may offer the same basic functionalities, there may be key differences when it comes to advanced functionalities or pricing. Here are some of the key comparable features of Melio and its alternatives to support a well-informed decision:
| Monthly Price | Payable Automation | Live Support | Mobile App | Training Resources | |
| Melio | Free | Yes | Yes | NA | Yes |
| Bill.com | Starting at $45 per use per month | Yes | Yes | Yes | Yes |
| Plastiq | Free | NA | Yes | NA | Yes |
| Sage Intacct | Custom | Yes | Yes | NA | Yes |
| QuickBooks Online | Starting at $15 per month | Yes | Yes | Yes | Yes |
| QuickBooks Desktop Pro | Custom | NA | Yes | Yes (only iOS) | Yes |
A Deeper Look into the 5 Best Melio Alternatives
You have various options when it comes to managing your accounting operations, accounts payable, accounts receivable, and cash flow. But if you are looking for alternatives to Melio payments, the five best options for you are:
Bill.com – Best for managing accounts receivable, accounts payable, and cash flow
Overview
Bill.com is one of the best software for small and medium-sized businesses looking for financial automation solutions. Bill.com has a host of features to help manage and automate your financial workflows to make your business future-ready. It allows you to connect with a vast member network to make and receive payments faster, simplify and better control your finances, and succeed.
In addition to managing accounts payables and receivables, cash flow, invoice processing, and billing, Bill.com also gives you access to a range of financial reports with real-time data updates. Its features like budgeting and forecasting, tax calculations, and third-party integrations make it one of the best alternatives to Melio.
pros
- Easy setup with no setup fee
- Mobile app for easy remote accessibility
- Easy bill payments
- Integration capabilities with major accounting software
- Extensive customer support resources
cons
- Payment processing may take time for base plans
- The third-party integration process is manual and clunky
Pricing
Bill.com offers four pricing plans:
- Essentials: $45 per user per month
- Team: $55 per user per month
- Corporate: $79 per user per month
- Enterprise: Custom pricing
Bill.com also offers a free trial to test its features before purchasing.
Plastiq – Best for payables automation, accounting integration, and cash flow management
Overview
Plastiq is a free payment platform that helps businesses manage their cash flow while also offering instant access to their working capital. It provides visibility into your working capital to help maintain a healthy cash flow and automate payables for more time-efficient invoice processing. Plastiq also enables you to make payments the way you want while allowing your suppliers to receive payment the way they want. Its features like accounting integration, activity dashboard, multi-currency support, analytics and reporting, and vendor management make it an ideal solution for small and medium-sized businesses.
pros
- Supports multiple payment options – check, bank transfer, or credit cards
- Intuitive and easy-to-use interface
- Supports international payments
cons
- No same-day transfer without a special request
- Access to customer support can be challenging
- Expensive premium plans
Pricing
Plastiq offers three pricing plans:
- Free: Supports up to 3 users
- Professional: $59 per user per month; Supports unlimited users
- Enterprise: $119 per user per month; Supports unlimited users
You can also opt for a free trial before purchasing Plastiq premium plans.
Sage Intacct – Best for fast-growing small and medium-sized businesses
Overview
Sage Intacct is one of the industry-leading and best-in-class cloud ERP solutions that can help you improve the productivity and efficiency of your finance operations. Its features include accounting, contract management, revenue recognition, vendor management, financial consolidation, and financial reporting.
These advanced features offer your business visibility for process automation, time-efficient financial processes, and better business transparency. This ability to facilitate data-driven decisions makes Sage Intacct an ideal solution for every business, big and small alike.
pros
- Flexible configuration to suit your business needs and consistent results
- Easy-to-understand dashboard for non-finance professionals
- Access to extensive customizable financial reports
- Excellent customer support
cons
- Integration with third-party accounting solutions can be challenging
- Significant learning curve before using Sage Intacct
Pricing
Sage Intacct offers custom pricing plans based on your business requirements, the number of users, and the features you need. You can also opt for a free trial before deciding to purchase.
QuickBooks Online – Best for overall accounting management
Overview
QuickBooks Online is one of the best cloud-based software solutions for comprehensive finance and accounting operations management. With features like custom invoice management, cash flow management, and extensive financial reporting, it is a robust solution for all your payables and cash flow management needs.
QuickBooks Online stands out as an excellent choice for freelancers, small and medium-sized enterprises, or large corporations, thanks to its combination of a robust mobile app and access to QuickBooks’ expert-assisted bookkeeping services.
pros
- User-friendly and intuitive interface
- Excellent customer support
- Powerful bank reconciliation and income and expense tracking features
- Customizable and scalable to suit your growing business needs
- Easy integration with other accounting software
cons
- More expensive plans
- Access to live customer support only with higher-tiered plans
- Each plan supports a limited number of users
Pricing
QuickBooks Online offers five pricing plans:
- Self-Employed: $15 per month, supports one user
- Simple Start: $25 per month, supports one user
- Essentials: $40 per month, supports three users
- Plus: $70 per month, supports five users
- Advanced: $150 per month, supports 25 users
You can avail of a free trial before selecting the right plan. New QuickBooks Online users can also get a 50% discount for the first three months.
QuickBooks Desktop Pro – Best for analytics and reporting features
Overview
QuickBooks Desktop Pro offers you a host of core accounting features along with analytics and reporting features. It also allows you to automate your billing and invoice management to help simplify accounts payable and receivable management. Additionally, features like payroll management, business expense tracking, time tracking, and report generation make it a comprehensive accounting management solution for any business. It is available as an on-premises and SaaS solution – along with an iOS mobile app – for better accessibility and real-time insights into your accounts.
pros
- User-friendly and easy-to-use interface
- One-stop-shop for all business accounting needs
- Easy integration with other accounting solutions
cons
- Expensive compared to its counterparts
- Quality of customer support can be lacking
- Has a significant learning curve, especially for non-finance professionals
- Only the iOS mobile app is available
Pricing
QuickBooks Desktop Pro has custom pricing plans depending on the number of users and features you need.
Our Methodology for Selecting Best Melio Alternatives
We have considered various factors when listing the best Melio alternatives for your accounts payable, receivable, and cash flow management needs. We have considered factors like access to general and advanced accounting features, affordability, scalability, ease of use, and learning curve. Additionally, we have also taken into account access to live customer support and the ready availability of training resources to identify the five best alternatives to Melio payments.
Conclusion
Having the right accounting software solution for your business needs is critical for a business’s survival, success, and growth. Although Melio is an excellent free accounts payable management solution, it may lack functionality crucial for your business. Or Melio may also fail to support your evolving business needs as you continue to grow.
Looking at the top Melio competitors, it is crucial to compare your business needs with features of every alternative to make sure it can not only support your business but also grow with your business. So, understand the features and prices of each Melio alternative and make a well-informed decision about what solution best suits your business.
Check out our accounting category page to unlock our accounting resources for small businesses.
Frequently Asked Questions
What payment methods does Melio accept?
Melio supports several payment options, including bank transfers (ACH), credit and debit cards, and checks. Melio takes care of delivering your checks to the vendors at no extra cost. You can also make ACH payments for free, while credit card transactions charge a 2.9% transaction fee. Melio also offers you the feature of using credit cards to pay vendors that do not support credit card payments.
