Kloo vs. Airbase: Comparing Procure-to-Payment Capabilities

Choosing the right financial management solution is pivotal for modern business functions. Accounts Payable (AP) is a crucial aspect of financial management but suffers from the need for manual processing. AP Automation arises as the go-to solution to this problem. 

Referring to the technology and software used to streamline and automate the accounts payable (AP) process, it does this by digitising and automating tasks such as invoice processing, data entry, payment approvals, and vendor management. This ultimately eliminates manual and time-consuming tasks, reduces errors, improves efficiency, and enhances visibility and control over financial processes. Overall, AP automation simplifies and accelerates the AP process, leading to cost savings and increased productivity. 

In this guide, we will compare two key innovators in the AP automation sphere: Kloo’s AI-driven AP automation capabilities with Airbase, known for its comprehensive spend management, to help you determine the best fit for your company. 

What Does Kloo Do? 

Kloo is an AI-powered AP automation platform that streamlines the procure-to-payment process. Whether you are working towards smart invoice processing or automated purchase order workflows, Kloo delivers smart automation across a range of functions by leveraging AI throughout the platform. 

Kloo Product Capabilities Overview 

Kloo shines with its innovative AI capabilities, transforming the landscape of your AP workflows. Its notable product offerings include: 

• AI-Driven Invoice Processing: Kloo's use of OCR and AI for no-touch invoice processing ensures invoices are automatically read, understood, and matched to purchase orders, minimising manual errors and processing time. 
• Predictive Purchase Requests: Kloo takes purchasing a step further with AI-driven predictive purchase requests, using historical data and spending patterns to anticipate and streamline future purchases. 
• Smart Invoice Matching: Employing AI and OCR technology, Kloo excels in precise invoice matching, including complex cases where fuzzy logic and contextual reasoning are required. 
• Automated Approval Flows: Streamlining the approval process, Kloo facilitates approvals directly from email inboxes, enhancing efficiency and user experience. 
• Integrated Payment Solutions: Kloo offers a range of in-platform payment options, allowing for efficient and flexible payment processing. 

What Does Airbase Do? 

Like Kloo, Airbase is a viable solution for businesses and finance teams looking to automate their spend management and procure-to-payment processing. AP automation stands at the forefront of their platform’s offering, with a focus on guided procurement for users. 

Airbase Product Capabilities Overview 

Airbase, while a comprehensive platform, has a different approach to AP automation through its capabilities: 

• Guided Procurement: Airbase guides employees through efficient, compliant, and approved spending, offering full visibility of procurement and compliance policies. 
• AP Automation: Airbase offers automation for invoice processing, PO creation and approval workflows, but lacks Kloo's specialised AI-driven invoice processing efficiency. 
• Spend Management: Airbase provides robust management of physical and virtual cards but does not integrate AI-driven invoice processing like Kloo. 
• Corporate Cards: Airbase offers both physical and virtual cards for flexible spend management and visibility of managing budget control. 
• Integration and Reporting: While Airbase integrates well with major accounting systems and provides real-time reporting, it does not offer the AI-enhanced data insights and predictive capabilities of Kloo.

Feature Matrix of Kloo vs. Airbase