Accounts Payable Software Research
The accounts payable (AP) department of an organization essentially acts as the gatekeeper to corporate spend. It’s where the POs, invoices, and receipts get matched up and bills get paid. Beyond handling invoicing and payment functions, AP professionals hold the keys to:
• Effective cash flow management
• Optimized payment methods
• Fraud prevention
• Vendor relations and vendor discounts
• Government compliance
Challenges to Accounts Payable Success
According to our recent research on invoice automation, many organizations struggle with decentralization in their AP departments, as well as manual invoice routing and lengthy approval cycles. It’s clear that a lack of invoice workflow automation can lead to major roadblocks in a smooth AP process, including late payments and frequently missed discounts.
Recent years have seen a significant increase in the number of automation solutions that promise to streamline the invoicing process. With so many voices guiding companies towards different areas of AP automation, it is difficult for organizations to determine what delivers the highest ROI. Our analysts have conducted exhaustive accounts payable research on various solutions in the marketplace designed to automate all or portions of the process.
We consider 4 core attributes when evaluating each solution, including:
• Invoice Receipt, Capture, and Data Recognition
• Invoice Workflow, Matching, and Reconciliation
• Working Capital Optimization
• Payment Processing
Accounts Payable Tools and Education
PayStream Advisors provides Accounts Payable change agents with the resources they need to transform processes at their organizations. These include:
• Research Reports
• Educational Webcasts
• Case Studies, Articles, & Info graphs
• ROI & TCO (Total Cost of Ownership) Calculators
• In-Depth Video Reviews
Our research is available on demand for our members and membership is completely free.