The Finance Category

Intelligent Trade Finance: The Confluence of Blockchain and the Internet of Things

Spend Matters welcomes this guest post from Biji John, product manager, trade finance, at Finastra.

The fundamentals of trade and trade finance have not changed in centuries: it’s process heavy, with bottlenecks and disputes everywhere. Characterized by paper and manual operations, the back office is ripe for next-generation transformation. In the middle and front office there is potential for far greater automation and use of real-time data, for example in the accounts receivables process, in SME credit underwriting, loan booking, and monitoring and indeed for relationship managers (human and virtual) to surface and analyze data to gain insights and provide more data-driven recommendations to corporate clients along the financial supply chain.

Debunking the Myths of Optical Character Recognition: What It Is and How It Affects Accounts Payable

e-invoicing

Spend Matters welcomes this guest post from Justin Holden, vice president of sales, Yooz North America.

OCR: Another one of those technical buzzwords that we’re hearing a lot about these days. It’s of particular interest in fintech (another new buzzword that stands for “financial technology”) and even more specifically in accounts payable. But what is it? More important, what isn’t it? And how does it make a difference in the accounts payable (AP) workflow?

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Working Capital Optimization: Why a Game-Changing Approach is Needed

Game changers are easy to spot. They are the ones who want to make sure that tomorrow is better than today. They are the dreamers, the innovators, the ones who think the impossible is a challenge waiting to be bested. And in today’s competitive marketplace, it will be the game changer, more specifically, the financial game changer, who will stand out from the crowd. How will they do this, you ask? They will understand that working capital optimization is so much more than jargon.

Fintech or House Bank for Early Payment Solutions: Key Differences

There are three buyer-centric solutions to facilitate early payment for suppliers: supply chain finance, dynamic discounting and commercial cards (p-cards, v-cards). Bank-developed solutions in this space rely heavily on companies using credit lines. The focal point tends to be on p-card solutions, not dynamic discounting. Why? P-cards generate much more in fee revenue than dynamic discounting, particularly if a client uses its own funds to facilitate early payment instead of a bank credit line. 

Program Management: The Missing Link in Procurement Technology Modules and Suites (Part 10: E-Procurement Components, Continued) [PRO]

In this series, we have been discussing the glue that binds together different areas of procurement workflow: the overall program management of both individual tasks and collective activities across the source-to-pay continuum, along with the technology components that support this end-to-end perspective. As a whole, this Spend Matters PRO series provides deep insight into what effective program management technology capabilities encapsulate from a design, platform and functional perspective.

We started this series by exploring design principles on which effective program management technology is based across the source-to-pay continuum. We then provided insights into the building blocks of effective program management technology components including best-of-breed project management, performance management, program compliance, program collaboration and other areas. We then highlighted specific examples of category management requirements and supplier management requirements before our series wrap-up with e-procurement and broader P2P.

In our last article (Part 9 — E-Procurement Components), we defined the P2P program counterparts to the sourcing-centric programs and began a deep dive into the platform components required to support the programs covered in our last entry. In this final installment on P2P, we conclude the platform components required to support modern procurement programs.

Why Platforms and Source-to-Pay Networks Need Finance

More and more procurement software platforms and source-to-pay networks are receiving RFPs from clients requesting way to help improve working capital. Companies, even middle-market companies, have global supply chains. Working capital is important and could manifest itself in the form of yield management, ROI and balance sheet improvement. This is a box on the RFP that vendors need checked. But the path is not easy.

Yooz: Vendor Snapshot (Part 2) — Product Strengths and Weaknesses [PRO]

improper payments

Yooz is a specialized middle-market software provider in the accounts payable automation sector with particular expertise in rapid deployment and broad-based support for payables processes. Its capabilities include invoice capture, ERP integration, AP workflow and payment integrations. (Given its focus on the middle market, areas such as supplier portal, global compliance and supplier financing are not yet a focus.)

This Spend Matters PRO Vendor Snapshot explores Yooz’s strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether they should consider the provider. Part 1 of our analysis provided a company and detailed solution overview and a recommended fit list of criteria for firms considering Yooz. The third part of this series will offer a SWOT analysis, user selection guide, competitive alternatives, and additional evaluation and selection considerations.

Yooz: Vendor Snapshot (Part 1) — Background and Solution Overview [PRO]

e-invoicing

Primarily targeting the middle market, Yooz is a specialized accounts payable automation software provider that also offers adjacent capabilities in e-invoicing. It supports 2,000 customers in a subset of the broad-based procurement software category Spend Matters describes as invoice-to-pay (I2P). Yooz competes in the diverse, sometimes confusing and overlapping procure-to-pay (P2P), e-invoicing and accounts payable automation ecosystems — with an emphasis on the latter.

This Spend Matters PRO Vendor Snapshot offers an introduction to Yooz, providing facts and expert analysis to help accounts payable and procurement organizations make informed decisions about whether they should explore this software provider within these ecosystems. Part 1 of our analysis offers a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Yooz as a complement to other procurement and finance solutions. The remaining parts of this research brief will cover product strengths and weaknesses, competitor and SWOT analyses, and insider evaluation and selection considerations.

Using Information Advantages to Finance B2B Transactions

We've all heard the stories around how supply chains are digitizing. A real transformation is underway, no doubt. But transformations don’t happen overnight. Likewise, traditional forms of financing supply chains still dominate. Many new models of lending have emerged over the last few years that rely on the approved invoices and third-party money, and while some models have generated volume, these pale in comparison with total B2B transactions. This is not to say there are not failures. In fact, the innovations that have been tried and failed lead to further innovation, piggybacking off of lessons learned. 

Using Contract Management to Drive Cross-Functional Digital Transformation

contract

Contract management is a critical enabler to digital transformation. By digitizing a business’ contracts, procurement organizations can unlock numerous benefits, from spurring enterprise agility to reducing compliance risks to improving working capital metrics. But achieving such improvements won’t happen alone. Procurement will need to enlist its cross-functional partners in sales, legal and finance to expand a digital contract transformation from a confined functional capability to an enterprise-wide program.

APEX Analytix: Vendor Snapshot (Part 3) — Summary and Competitive Analysis [PRO]

data analytics

APEX Analytix is far more than just a recovery audit and spend analysis software provider. It’s also a specialist in supplier management. This third and final installment of our Vendor Snapshot covering APEX Analytix’s supplier management solution provides a SWOT analysis of the company along with a competitive segmentation analysis and comparison. It also offers recommended shortlist candidates that can serve as alternative vendors to APEX, complete with solution selection guidance. Finally, this research brief provides summary analysis and recommendations for organizations considering APEX for supplier management. 

For background on APEX, we encourage you to review Part 1 of the series, which provided an in-depth look at APEX and its supplier management solution, and Part 2, which gave a detailed analysis of product strengths and weaknesses, as well as a review of the its user experience.

APEX Analytix: Vendor Snapshot (Part 2) — Product Strengths and Weaknesses [PRO]

spend analytics

Better known for its broader portfolio of recovery audit, overpayment and self-audit software, APEX Analytix also offers a specialized supplier management solution. APEX provides unique, out-of-the-box capabilities that support core supplier information management (SIM), validation and financial controls, as well as working capital optimization solutions. In addition, its supplier management solution delivers the broader configurability, workflow, rules, analytics, supplier portal and associated capabilities one would expect from supplier management software.

This Spend Matters PRO Vendor Snapshot explores APEX Analytix’s strengths and weaknesses in the supplier management area specifically, providing facts and expert analysis to help procurement and finance organizations decide whether they should consider the provider. Part 1 of our analysis provided a company and detailed solution overview and a recommend fit list of criteria for firms considering APEX Analytix. The third part of this series will offer a SWOT analysis, user selection guide, competitive alternatives, and additional evaluation and selection considerations.