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  • Benjamin Elliott

Complete Libeo Review: Features, Pros & Cons. Is Libeo Worth It?



Libeo Review

As a small business, automating as many time-consuming manual tasks as possible is key to business efficiency.


This is where tools like Libeo are useful.


Libeo is a cloud-based solution designed to help businesses streamline their accounts payable and get paid through customer invoices. The software integrates with your accounting tools and bank account, making it easier to automate financial tasks and stay up to date with your expense management.


Is Libeo worth it though? And how does it compare to other accounts payable software tools?


Follow this Libeo review for everything you need to know.



What Is Libeo?

Libeo is a software platform that provides an accounts payable solution to help businesses and accountants with day-to-day operations.


The platform gathers, validates, and pays supplier and customer invoices from one central platform. Using this platform simplifies the purchasing lifecycle, as you can manage all steps from one place.


Libeo is a pretty straightforward platform that offers a variety of features to improve the accounts payable process.


This includes items like invoice scanning, secure payments, custom approval workflows, and collaboration management. The platform also offers a range of third-party integrations so that it can fit into your business’s existing finance workflow.


Libeo Main Features

Let’s unpack the key features offered by the Libeo software.


Invoice Centralisation

One of the main drawcards of using Libeo for your business is that the platform takes all of your invoices and centralises them into one place.


This automates a very time-consuming manual task, which can greatly assist finance teams.


Libeo can connect to over 200 supplier websites in order to collect invoices automatically. You can also bulk upload invoices to the platform, where they are all managed from a central dashboard.


Alternatively, you can email invoices to a Libeo email address for them to automatically appear in the dashboard.


Bulk Payments

Once all of your accounts payable invoices have been centralised and approved, you can pay for them directly through the Libeo platform. This helps to streamline bulk payment runs, and it helps to make these payments more secure.


You don't need to add banking or payment details with each payment. Just select the invoice and supplier and click to pay.


You can also schedule payments in advance, which Libeo will execute and update in real-time.


Invoice Collection

Libeo offers a handy customer invoice collection feature that makes it easier to get paid. The tool collects all of your accounts receivable invoices and automatically monitors the invoices when you send them to customers.


Instead of having to update customers and reach out to them, Libeo will monitor and update you on the status of all customer invoices. This is designed to speed up the way your business receives funds.


Cash Flow Monitoring

Libeo’s central platform offers some helpful insights into your business’s cash flow performance. The platform updates in real time and displays all payments your business is making and receiving. This makes bank reconciliation an easier process.


You can also customise these dashboards with payment deadlines to make invoice processing easier. You can generate cash flow reports when you need them and export them to your accounting software.



How Libeo Works

Libeo is designed for two different customers: businesses and accountants.


Businesses can integrate Libeo with their finance management tools, ERP, and accounting software to make the flow of financial information more efficient. Libeo’s third-party integrations include:


  • Quickbooks

  • Xero

  • Evoliz

  • MEG

  • Sage

  • EBP

  • Oracle Netsuite

  • Microsoft Dynamic 365


Businesses can also connect Libeo to their bank accounts. This synchronises banking flows for automated bank reconciliation. Libeo is compatible with over 5000 major banks.


Accountants can use Libeo to connect directly with the following accounting tools:


  • Cegid Loop

  • My Unisoft

  • Dext

  • My Company Files

  • Inqom

  • Welyb

  • Agiris

  • Fulll

  • ACD Groupe

  • Sage


This can help accountants automate data transfers and save a lot of time managing clients.



Libeo Pros And Cons

Libeo offers a solid solution to help businesses make payments and get paid. However, the platform isn’t without its downsides.


Here are some of the main pros and cons of using Libeo.


Pros Of Libeo

  • Libeo centralises supplier invoices and automates accounts payable processes, which can save businesses immense time

  • Payments can be easily controlled with one click

  • You can gain real-time visibility over your finances from any device

  • Libeo offers different user role options so that you have more control over financial management abilities within your team

  • The cloud-based platform integrates with a wide variety of accounting tools and banks

Cons Of Libeo

  • Although Libeo offers a good selection of tools for accounts payable, the platform is expensive for its abilities

  • No free trial is available

  • Customer service could be more responsive


Libeo Pricing

Libeo offers three different pricing plans for its software:


Essentials

€49 per month


Expert

€99 per month


Enterprise

Custom pricing on demand


The “Expert” plan is the most popular, as it offers important features like advanced automation rules and analytical accounting. Although it’s a solid solution, the “Essentials” plan may not be robust enough to handle all the financial processes most businesses want the software to cover.


Compared to other similar accounts payable and invoice management tools, Libeo does not offer a great deal of flexibility in terms of its pricing.



Conclusion

If you’re looking for a solution to streamline your accounts payable and customer invoicing, then Libeo could be an option for your business.


This platform is relatively easy to use and can take a lot of the pressure off of your finance team. From making bulk payments to centralised invoicing, Libeo offers a good variety of features to make your life easier.


However, it is important to take into consideration that the platform is quite expensive for what it offers, and it may not include all of the features your business needs (like automated expense management).


Finding the right, reliable and comprehensive tool is essential for optimal business functionality.


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