In a recent poll of A/P professionals conducted by IAPP (International Accounts Payable Professionals, Inc.), 58% of respondents said that approval processing and workflow is their biggest headache. Corporates spend a significant effort and time on their invoice receipt-to-pay cycle (as shown in Figure A). Many organizations are using some kind of imaging solution to capture information from unstructured and semi-structured invoices, but most struggle to build a seamless workflow model of approval processing for those invoices and cannot tie it to their existing payment and analytical reporting tools.

Figure A:

PayStream Advisors is preparing a vendor analysis report and buyers guide for Accounts Payables professionals who are seeking information regarding imaging and workflow solutions. This 25-30 page report is intended to help Accounts Payable, Purchasing, and IT buyers make vendor and technology selection decisions as they evaluate new Accounts Payable automation strategies and solutions.

The report will review vendors either in the Business Process Management (BPM) space or in Enterprise Content Management (ECM) space (as shown in the Figure B) who have developed a targeted product portfolio for A/P automation. Figure B represents a map of the key features that BPM and ECM vendors offer as part of their products/services. We will focus on imaging and workflow automation solutions that have strong capabilities and vendors with dynamic product strategies to meet the needs of medium and large corporate accounts payable automation efforts.

Figure B:

Evaluation Criteria

The report will supply provider and solution insights by evaluating the leading Imaging and Workflow vendors for A/P automation and their products/services according to seven criteria:

Product/Service Criteria

• Scope & functionality: What elements of Invoice receipt-to-pay cycle does the solution handle? Does the system support robust imaging technology for wide range of formats and channels?
• Security & scalability: How well does the solution handle data integrity, reliability, and encryption? Does it have robust authentication and authorization capabilities? Can it handle large transaction volumes, demand spikes, and client growth?
• Total cost of solution: What are the set-up and recurring maintenance costs of the solution for A/P departments? What is the typical cost of the solution over a 1- and 3-year installation period for a typical Fortune 1000 A/P operation?
• Ease of integration: How easily does the solution integrate with existing ERP applications, accounts payable and purchasing systems?

Vendor Criteria

• Firm's focus on A/P Imaging and Workflow Automation: Are Imaging and Workflow services for A/P a core offering or a sideline product? Does the management team have a clear strategy to continue services and enhance the offering? Does the company have plans to continue to expand and improve the A/P functionality?
• Ability to execute & provide support: How viable is the provider’s development strategy, operational plan, financial strength, management vision, and industry influence and reputation? What is the number of live customers using the solution in an A/P setting?

Pricing & Availability

PayStream Advisors expects this Buyer's Guide to be available for purchase on the website in Q2 2004. The report is tentatively priced at $495 for clients who wish to preorder the report. Please contact for more information on pre-ordering the report.