ApprovalMax vs Finmatics
ApprovalMax
approvalmax.comFinmatics
finmatics.comSide by side
| Figure | ApprovalMax | Finmatics |
|---|---|---|
| Price from | — | €750/mo |
| Free plan | — | — |
| Free trial | Yes | — |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| API | Yes | Yes |
| Plans published | 10 | 5 |
| Spec score · Invoice Approval Software | 8.8 (#3) | 8.5 (#8) |
| Approval workflows | Yes | Invoices can move through configurable one-step or multi-step approval workflows, including from a phone or computer. |
| Browser requirements | Supported browsers are the latest two Chrome, Firefox, Edge and Opera versions, plus Safari 11 or later, with JavaScript enabled. | The help center recommends current versions of Google Chrome or Microsoft Edge and does not guarantee full functionality in other browsers. |
| Company size | LinkedIn lists ApprovalMax as a privately held company with 51–200 employees. | LinkedIn lists Finmatics at 51–200 employees, while Visma's acquisition announcement said it employed more than 120 people across Austria, Germany, and Hungary. |
| Documentation | The Help Centre lists hundreds of articles, including 678 account-management articles, 426 Xero articles, 219 QuickBooks articles and 145 NetSuite articles. | The help center includes topic guides for integrations, API setup, workflows, administration, troubleshooting, security, and IT. |
| Founded | LinkedIn lists ApprovalMax as founded in 2016. | Finmatics says it has developed accounting software in Vienna since 2016; LinkedIn lists 2017 as the founding year. |
| Headquarters | ApprovalMax Limited lists its registered office in London, United Kingdom. | The company lists its address as Lindengasse 41, Vienna 1070, Austria. |
| Purpose | ApprovalMax automates accounts payable and receivable approvals and gives businesses control over financial processes. | Finmatics provides AI-powered accounting automation for accounting firms and companies. |
| Rating on Apple App Store | 4.9 out of 5 from 35 ratings | 4.4 out of 5 from 21 ratings. |
| Rating on Capterra | 4.7 out of 5 from 30 reviews | 4.5 out of 5 from 2 reviews. |
| Rating on G2 | 4.6 out of 5 from 100 reviews | 0 out of 5 from 0 reviews. |
| Rating on GetApp | 4.7 out of 5 from 30 reviews | 4.5 out of 5 from 2 reviews. |
| Security | ApprovalMax states it is ISO 27001 certified and provides single sign-on, two-factor authentication, and automatic logout after 15 minutes of inactivity. | Finmatics hosts data in European ISO 27001 and ISO 9001 certified data centers with regular IT-security audits. |
| Self-hosting | TrustRadius describes the deployment type as SaaS and lists no self-hosted deployment option. | Finmatics is described as cloud software, and the company names external cloud and data-center subprocessors rather than offering a self-hosting option on the opened pages. |
| Support | The Xero pricing page lists customer support 24/5 and describes a knowledge base, how-to videos, and guides. | Finmatics directs technical questions to email support and its help center; the GetApp listing also identifies phone, email, knowledge base, chat, and training support options. |
Plans
ApprovalMax
- AdvancedPrice not published
- Advanced (QuickBooks Online)Price not published
- Advanced (Xero)Price not published
- NetSuite planPriced on request
- PremiumPrice not published
- Premium (QuickBooks Online)Price not published
- Premium (Xero)Price not published
- StandardPrice not published
- Standard (QuickBooks Online)Price not published
- Standard (Xero)Price not published
Finmatics
- Onboarding & Setup€1.99, paid once
- Basis Fin€750 a month
- Plus Fin€900 a month
- Pro Fin€1,050 a month
- Enterprise Fin€1,200 a month
In their own words
ApprovalMax
ApprovalMax automates accounts payable and receivable approvals and gives businesses controls for financial processes. Its accounts payable workflow covers capture, verification, approval, and payment, with multi-step workflows and configurable approval rules. Xero plans list unlimited workflows and approvals. Accounting integrations include Xero, QuickBooks Online, and Oracle NetSuite, with two-way data sync listed; Airwallex, Dext, and Slack are also supported. From Slack, users can approve, reject, or comment on documents. Plans range from unlimited workflows, users, and approval steps with a full audit trail to options adding bill-to-PO matching, budget checks, supplier onboarding, journal approvals, custom workflows, API access, and AI capture. iPhone and Android apps support submitting and approving requests, and web and API access are listed. ApprovalMax says it is ISO 27001 certified and offers single sign-on, two-factor authentication, and automatic logout after 15 minutes of inactivity. Customer data is processed in Microsoft Azure data centres in Ireland, with backups in the Netherlands. It is a paid service with no free plan, a 14-day trial, and pricing on request.
Finmatics
Finmatics is accounting automation software for accounting firms and companies. Its system, Fin, captures invoices from paper, scans and electronic files, then separates, sorts and extracts their data. It creates traceable booking suggestions based on booking history and tax logic, and learns from past bookings, user feedback and configured rules. Supported inputs include PDF, TIFF, JPEG, PNG, ZUGFeRD 2.0, XRechnung, ebInterface, UBL and IDoc FI. Integrations include DATEV, BMD, RZL, Agenda, Microsoft Business Central and SAP; a REST API is available, with limits of 1,000 general requests and 100 authentication requests per minute. Conditional routing, delegated approvals, an approval audit trail, mobile approval and invoice comments are listed capabilities. Finmatics supports Android, iOS and web. The listed Basis Fin plan is €750 a month, billed annually in advance; monthly payment is available with a 20% surcharge. A demo is limited to 30 days before a paid contract. Finmatics states that it processes data under GDPR Article 28 and uses encryption, role-based permissions, optional two-factor authentication and SSO.