Which is better for your business – Space Invoices or Monite? Both platforms have a lot in common, including robust integration capabilities, continuous support, and features like comprehensive documentation, white-labeling, and multi-tenancy. However, there are differences.

Affordable Monite Invoicing API Alternative

Monite Invoicing API and Space Invoices Invoicing API offer very similar products, featuring many of the same capabilities and operating in comparable ways. However, there are a few key differences between them. To clarify these differences and provide a better understanding of both products, we have created a guide comparing Monite Invoicing API and Space Invoices Invoicing API.

 

In this article, we are going to cover:

Monite Invoicing API Review

Similarities Between Monite Invoicing API and Space Invoices Invoicing API

Key Differences Between Monite Invoicing API versus Space Invoices’ Invoicing API

Space Invoices API Review

Earn More and Pay Less with Space Invoices’ API

 

 

Monite Invoicing API Review

Monite Invoicing API is highly specialized for neobanks, fintechs, and B2B SaaS platforms. It provides comprehensive accounts receivable automation solutions that can be seamlessly integrated into such platforms, enhancing their ability to offer invoicing and financial automation functionalities to their clients. This API facilitates automation of payment reminders and reconciliation, and ensures full integration with accounting software, thus streamlining financial operations on a large scale. In addition to the issuance of compliant invoices, Monite Invoicing API offers:

Issuance and sending of offers and quotes

Creation of custom-designed invoices with embedded payment links

Sending of compliant automated follow-ups

Reconciliation of payments

Exporting payment data to accounting systems

 

 

Similarities

Monite Invoicing API and Space Invoices Invoicing API serve similar clientele and offer comparable services, making their products closely aligned. Here are the common features they share:

Developer-Focused Design: Both APIs are supported by comprehensive documentation and technical support;

Automated Invoicing Capabilities: Each API provides automation features for issuing invoices, sending payment reminders, and reconciling payments;

Integration with Payment Systems: Both APIs offer seamless integration with various payment gateways, enabling businesses to embed payment links directly within their invoices;

White-labeling: Both APIs can be integrated into your company’s dashboard, appearing as if they were built in-house, which is advantageous for upselling to clients;

Multi-tenancy: Both APIs support multiple organizations using a single system for their invoicing needs, while keeping individual data secure and inaccessible to other users;

Customizability: Each platform allows for the customization of invoices, including layout adjustments, addition of branding elements like logos, and content modifications to meet business branding needs;

Compliance and Security: Both APIs emphasize adherence to local tax laws and financial regulations, alongside prioritizing security measures to safeguard sensitive financial data.

 

Key Differences

As previously noted, Monite Invoicing API and Space Invoices API share more similarities than differences, which can make it challenging for clients to decide between the two. However, there are some notable differences that set them apart.

 

Niche Specification and Accounting systems

Both APIs are designed for Fintech, Neobanks, and B2B SaaS companies, yet there are notable differences in their product development and service offerings.

 

Monite Invoicing API focuses exclusively on building and enhancing its accounts payable and receivable solutions, integrating over 40 different accounting systems. This dedicated focus from Monite results in more advanced and specialized features that cater specifically to the needs of financial service platforms. Beyond invoicing, Monite includes capabilities for embedding broader financial services, such as BNPL (Buy Now, Pay Later) options and detailed payment reconciliations.

 

Space Invoices Invoicing API is designed for businesses seeking a straightforward and adaptable invoicing solution that does not require deep integration into extensive financial systems. It offers a broad and user-friendly API, providing a lighter version of accounts payable and receivable functionalities. This makes it ideal for companies that need efficient, scalable invoicing capabilities without the complexity of more comprehensive financial tools.

 

 

Countries Compliant for Invoicing

For an invoicing API to be usable in a specific country, it must comply with that country's invoicing regulations. The provider of the API is responsible for integrating these regulations, sometimes obtain certification, and continually monitor and update them since regulations often change. Maintaining a broad list of compliant countries is essential because it allows a company to utilize a single API for all its existing and prospective markets, serve customers globally, and conduct cross-border invoicing efficiently.

 

Monite API supports invoicing for entities from more than 32 countries, with 14 of these countries receiving additional specific support.

 

Space Invoices' Invoicing API supports tax and invoicing compliance, as well as e-reporting, in over 70 countries. Additionally, Space Invoices offers a comprehensive guide for all currently and potentially supported countries, allowing clients to check compliance and regulatory requirements specific to each country, such as mandatory e-invoicing, real-time reporting, and more.

 

Integration length

Due to their different specifications, the integration timelines vary between the two.

 

Monite Invoicing API involves heavier integrations and a more detailed customization process for each client, requiring more developers and support during integration. This typically results in integration periods lasting a few weeks.

 

Space Invoices Invoicing API offers broader functionality, making it easier and faster to integrate, usually achievable with one developer in just a few days to a week.

 

 

Pricing Comparison

The pricing differences between the two APIs are one of the key distinguishing factors. Monite caters to more established mid-sized companies that can afford a higher-priced solution, whereas Space Invoices offers more affordable pricing, tailored specifically for startups and small to mid-sized companies.

 

Monite’s pricing strategy primarily revolves around a commitment fee with additional usage-based charges. The commitment spans a minimum of a few years, with a rising fee. While Monite's pricing is not publicly disclosed, industry standards suggest a base fee ranging between €2,000 and €10,000 per month, with additional costs for each additional organization and document.

Space Invoices' pricing focuses on saving you money and growing alongside your company. Many new customers have expressed surprise at the significant savings compared to their previous providers. Our pricing is transparent and primarily usage-based:

Commitment: No commitment fee for one organization with up to 10 invoices per month; after that, there is a base fee of €200 per month.

Usage-based pricing: A charge of €5 applies for each additional organization issuing documents, which includes the creation and issuance of 200 free documents. Each additional document beyond this quota costs €0.05.

 

Comparative pricing statements are based on our research and reflect our understanding as of 14.06.2024. For the most accurate and up-to-date pricing, please refer to the competitors’ official websites or contact their sales departments.

 

 

Space Invoices Invoicing API Review

Space Invoices API primarily caters to B2B SaaS companies, Fintech, and Neobanks, while also providing solutions for E-commerce and Marketplaces. This makes it a versatile solution well-suited for businesses that require rapid integration capabilities and support for global operations. As such, this API facilitates compliance and streamlines global (e-)invoicing, tax, and reporting, making it particularly beneficial for small and medium-sized enterprises. Additionally, Space Invoices features a user-friendly interface and includes tools for managing job estimates and receipts. Beyond invoicing and tax compliance, using Space Invoices allows you to:

Utilize a single API for current and future worldwide compliance;

Support and upsell your clients globally;

Position yourself as the one-stop shop for both current and future clients;

Streamline processes to save time and reduce costs, while also eliminating manual errors;

Ensure all documents are properly archived and reported to the relevant authorities;

Achieve rapid integration, typically completed in less than a week.

Having more questions about Space Invoices’ invoicing API?

We are here to assist.

 

Earn More and Pay Less with Space Invoices’ Invoicing API

With Space Invoices’ Invoicing API, platforms looking to enhance their product offerings with invoicing capabilities can achieve this in less than a week and at a very low cost. This allows for a quicker time to market, enabling faster client acquisition and revenue growth.

 

Neobanks, Fintech and B2B SaaS platforms looking to grow revenue can upsell their clients with invoicing feature integrated straight into their platform like it was built-in house. With lower costs you have the space for higher margins or more clients as you can easily compete with other service providers in the market.

The invoicing feature is usually billed in one of two ways:

Subscription-Based Billing: Platforms may charge their clients a fixed monthly fee for using the invoicing feature;

Usage-Based Billing: Platforms may charge their clients a fee for each invoice issued;

Combination of Both: Platforms may set a monthly fee for a specific number of invoices and then an additional fee for each invoice above that threshold.

 

For more information on using Invoicing as a New Revenue Stream, read our comprehensive guide or contact us via live chat.

 

Additional reading:

• 3 Best White-Label Invoicing APIs for B2B SaaS, Fintech, and Neobank Platforms
• Ask Your Developer: Key Insights for the Build vs Buy Debate in Invoicing API
• Bosnia and Herzegovina Implements VAT on Non-Resident Digital Service Providers