AP Automation/Invoice-to-Pay Solutions

What are AP Automation/I2P solutions? 

AP (Accounts Payable) /Invoice -to-Pay (I2P)  automation software is designed to streamline accounts payable processes within organizations by automating the receipt, processing and payment of invoices through electronic means. This software significantly reduces reliance on manual, paper-based methods and enhances operational efficiency across finance and procurement functions.

AP automation software complements broader procure-to-pay (P2P) processes and can operate independently or alongside e-procurement systems. It leverages supplier network models to facilitate connectivity and provide additional value-added services, benefiting accounts payable departments by minimizing manual processes, improving efficiency and reducing costs associated with personnel required for invoice processing.

These solutions include robust supplier portal functionalities for efficient vendor onboarding and management, allowing for streamlined communication and information updates through alerts and self-service capabilities. They also offer advanced integration capabilities to manage transactions from suppliers of all sizes, enabling electronic submission and capture of invoices.

Moreover, AP automation software features sophisticated matching and workflow functionalities that support configurable validation rules based on contract terms, purchase orders, receipts and other criteria. This ensures compliance and efficiency in invoice processing, while comprehensive analytics and reporting tools provide insights into performance metrics like cost per invoice, process efficiency and working capital management.

In essence, AP automation software transforms accounts payable operations by digitizing invoice handling, reducing processing times, optimizing working capital and enhancing overall financial management within the organization. They serve as pivotal software solutions for achieving greater operational effectiveness, minimizing risks of non-compliance, and supporting broader procurement and finance objectives in the source-to-pay (S2P) journey.

How AP Automation/I2P solutions factor into the S2P process

AP  automation/I2P solutions are essential for boosting efficiency and effectiveness within the source-to-pay process. The S2P process encompasses all activities from sourcing goods and services to making payments and managing supplier relationships. AP automation solutions streamline financial operations by automating tasks such as invoice processing, payment approvals and expense management. By minimizing manual intervention and errors, AP automation significantly enhances operational efficiency throughout S2P cycles.

A key advantage of AP automation is improved vendor management. It facilitates seamless supplier onboarding, ensures contract compliance and expedites payment processes. These automated workflows not only strengthen vendor relationships but reduce financial risks associated with supplier interactions, thereby enhancing the vendor management aspects of the S2P process.

Accuracy and compliance are crucial in financial management. AP automation systems maintain precise financial data, manage invoice coding, approval routing and ensure adherence to regulatory standards. This capability enhances audit readiness and ensures compliance across financial operations, which is integral to the S2P process.

Integration with core systems such as ERP, e-procurement, and financial platforms (GL) supports seamless data flow and collaboration across departments. This integration allows for a unified approach to financial management, aligning procurement activities with organizational goals and ensuring consistency in financial processes within the S2P cycle.

Additionally, AP automation solutions offer advanced analytics capabilities that provide real-time insights into financial performance and vendor relationships. These analytics empower decision-makers to optimize financial strategies, monitor spending patterns and identify cost-saving opportunities within the procurement lifecycle, driving overall organizational savings and improving the S2P process.

In summary, integrating AP automation solutions into the S2P process optimizes procurement operations comprehensively. By automating tasks, improving vendor relationships, ensuring regulatory compliance and providing actionable insights through analytics, AP automation enhances operational efficiency, reduces costs and strengthens financial control across the organization. This holistic approach to S2P enables organizations to achieve streamlined processes, significant cost savings and enhanced financial oversight and control.

That’s why it’s so important to have an AP Automation solution, which brings us to …

Why AP Automation/I2P solutions are important

AP automation solutions provide substantial business benefits by automating and optimizing procurement processes. These systems streamline the purchase and receipt of goods and services through electronic interfaces, significantly enhancing operational efficiency and tightening control over expenditures. By simplifying requisition and purchase order processes using catalogs and electronic forms, organizations can achieve greater efficiency in procurement operations.

Furthermore, AP automation solutions improve ERP process automation and optimize key transactional purchasing activities. They increase spend under management, reduce maverick spending and improve cross-functional process and data integration, such as budget compliance and inventory management. This capability ensures that procurement activities align with organizational goals and financial guidelines, supporting better decision-making and operational transparency.

These solutions also support effective supplier and category management, facilitating improved sourcing decisions and negotiation of favorable terms with suppliers. By leveraging advanced functionalities like catalog management and supplier networks, organizations can achieve significant cost savings and operational efficiencies.

In summary, AP automation solutions are essential for businesses aiming to automate and optimize procurement processes. They drive enhanced operational efficiency, substantial cost savings, and improved control over procurement activities. Integrated with various systems and functionalities, they empower data-driven decision-making aligned with organizational goals, ultimately enhancing competitiveness and value across the organization.

How do I know my organization is ready for an AP Automation/I2P solution?

Several signs indicate that your organization might benefit from implementing an AP automation solution:

Manual invoice processing: If your organization still relies on manual, paper-based invoice processing, it’s a sign that you could benefit from AP automation. Automating the receipt, processing and payment of invoices reduces errors and speeds up the payment cycle.

High volume of invoices: If your organization handles a large volume of invoices, managing them manually can be overwhelming and inefficient. AP automation solutions can handle large volumes efficiently, ensuring timely payments and reducing late fees.

Frequent errors and discrepancies: If your organization frequently encounters errors and discrepancies in invoice data due to manual processing, AP automation can help. These solutions use sophisticated matching and validation rules to minimize errors and ensure accurate processing.

Strained vendor relationships: If your organization is experiencing delays in payment and poor communication with vendors, it may be time for AP automation. Automated invoice processing and timely payments can improve vendor satisfaction and trust.

Need for improved compliance: If adhering to regulatory standards and maintaining precise financial data is a challenge, AP automation systems can enhance compliance. They ensure accurate invoice coding, approval routing and adherence to regulatory standards.

Desire for cost savings and efficiency: If your organization aims to reduce costs and improve operational efficiency, AP automation is a good solution. It streamlines processes, reduces manual intervention and frees up resources for more strategic tasks.

Integration with core systems: If your organization needs seamless integration of AP processes with ERP, procurement and financial platforms, AP automation solutions can help. They ensure smooth data flow and collaboration across departments.

Readiness for data-driven decision making: If your organization seeks to leverage real-time insights into financial performance and vendor relationships, AP automation solutions provide advanced analytics capabilities. These insights empower decision-makers to optimize financial strategies and monitor spending patterns.

Need for enhanced security: If protecting sensitive financial data is a concern, AP automation solutions offer robust security features. These features safeguard financial information and ensure compliance with relevant regulations.

Scalability: If your organization is growing and your current system is struggling to keep up with increasing volumes of invoices and expanding supplier networks, it’s time to consider AP automation. These solutions can scale with your organization’s needs.

If any of the above describes your organization, it’s time to begin looking for an AP automation solution. 

Some factors to consider when beginning the journey are:

• Scalability: Ensure the solution can seamlessly handle increasing volumes of invoices and scale with the organization’s growth trajectory.
• Integration capabilities: Look for a solution that integrates smoothly with existing ERP, finance and procurement systems, ensuring efficient data flow and collaboration across departments.
• User-friendliness: Prioritize a solution with an intuitive user interface and exceptional user experience, facilitating quick adoption and minimal training requirements for employees.
• Customization and flexibility: Choose a solution that can be tailored to meet specific AP processes and business requirements, offering configurable workflows, approval processes and forms.
• Vendor support and training: Evaluate the level of vendor support and training available to ensure successful implementation and continuous support for users.
• Cost and ROI: Assess the total cost of ownership, including implementation, maintenance and potential savings from operational efficiencies and reduced error rates.
• Security and compliance: Ensure the solution adheres to industry regulations and standards, with robust security features to protect sensitive financial data from unauthorized access and breaches.
• Analytics and reporting: Look for advanced analytics capabilities that provide real-time insights into invoice processing metrics, payment statuses and financial performance, empowering proactive decision-making.
• Mobile accessibility: Consider solutions that offer mobile access, enabling AP staff to manage tasks, approve invoices and monitor financial processes remotely, enhancing operational flexibility and responsiveness.
• Supplier management: Ensure the solution supports seamless onboarding and management of suppliers, with features for invoice management, payment tracking and compliance monitoring, fostering strong vendor relationships and reducing payment delays.

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Common features of AP Automation/I2P technology

Invoicing

AP automation systems streamline the invoicing process by automating the receipt, processing and validation of invoices. They support various methods for invoice capture, including electronic submission via supplier portals, OCR technology for scanning paper invoices, integration with electronic data interchange (EDI) systems for efficient B2B transactions, and handling of email PDF invoices. These systems employ intelligent data extraction and validation algorithms, including Natural Language Processing (NLP) technologies, to ensure accuracy and reduce manual errors in invoice processing.

Advanced AP automation platforms feature configurable workflows for invoice approval, integrating rules-based matching against purchase orders, contracts and established business rules. This automation accelerates invoice processing times, enhances compliance with financial regulations and internal policies, and fosters better vendor relationships through timely payments and efficient dispute resolution.

Payments

AP automation solutions encompass comprehensive capabilities for payment processing, optimizing the entire payment lifecycle. They support multiple payment methods such as electronic funds transfer (EFT), virtual cards and integration with third-party payment providers. These systems provide visibility into payment statuses, automate approval processes and enforce financial controls to prevent fraud and errors.

Supplier payments are streamlined through AP automation with features like batch processing, automated reconciliation and seamless integration with ERP AP modules. This integration ensures smooth data flow between procurement, finance and payment systems, enhancing transparency and operational efficiency across the organization.

Financing

AP automation platforms extend functionality to include supplier financing options that support liquidity management and cash flow optimization. They facilitate dynamic discounting, supply chain finance and invoice factoring programs, offering suppliers early payment options based on negotiated terms and financial agreements.

Organizations gain visibility into available financing programs directly within invoicing and payment workflows, optimizing working capital, improving cash flow predictability and strengthening supplier relationships by offering flexible payment terms and financing options tailored to business needs.

Supplier Network Management

AP automation systems provide robust features for managing supplier relationships and collaboration through dedicated supplier portals. These portals serve as centralized platforms for onboarding new suppliers, maintaining supplier information and facilitating document exchanges such as invoices and purchase orders.

They streamline communication and collaboration between buyers and suppliers, focusing on efficient document management and transactional transparency. AP automation platforms also support e-invoicing capabilities, enabling electronic submission, processing and validation of invoices to enhance efficiency and compliance with digital invoicing standards.

Tax compliance is integral to AP automation systems, ensuring adherence to regulatory requirements related to VAT, tax calculations and reporting. These systems incorporate built-in validation checks and automated processes to ensure accurate tax calculations and compliance with local tax laws, thereby reducing audit risks and penalties.

Analytics

Analytics capabilities in AP automation systems provide organizations with actionable insights into invoice processing, payment trends and supplier performance. These platforms offer real-time reporting, dashboards and data visualization tools that enable stakeholders to monitor key performance indicators (KPIs), track spending patterns, and identify opportunities for cost savings and process optimization.

Advanced analytics facilitate data-driven decision-making by providing visibility into financial metrics, compliance adherence, and procurement efficiency. Organizations can leverage these insights to negotiate favorable terms with suppliers, mitigate financial risks and continuously improve operational workflows across the procure-to-pay cycle.

AP Automation/I2P use cases

AP automation solutions can have varying use cases, but commonly they are made to:

• Automate invoice processing: AP automation solutions streamline invoice processing by automating data extraction, validation and approval workflows. This reduces errors and speeds up payment cycles, enhancing operational efficiency and vendor relationships.
• Ensure accurate and timely payments: Automation ensures payments adhere to terms and schedules, minimizing errors and late payments. This reliability strengthens vendor trust and negotiation power, improving cash flow predictability.
• Optimize cash flow management: Real-time visibility into liabilities and payment obligations improves cash flow forecasting and management. Predictable payment cycles reduce financial uncertainty and support strategic financial planning.
• Enhance compliance and risk mitigation: AP automation solutions enforce compliance with financial regulations and internal controls through audit trails and secure document management. This reduces the risk of non-compliance penalties and fraud.
• Streamline vendor management: Automated processes for vendor onboarding, performance tracking and communication enhance operational efficiency. Improved vendor relationships lead to better service and pricing terms, benefiting overall financial health.
• Reduce operational costs and processing times: By automating manual tasks like data entry and approval workflows, AP automation reduces operational costs and speeds up processing times. This results in direct cost savings and efficiency gains.
• Provide actionable financial insights: Robust analytics capabilities offer insights into spending trends, invoice aging and vendor performance. These insights support informed decision-making and strategic cost management initiatives.

Do I need a service-based or do-it-yourself solution?

When deciding between a managed service-based or do-it-yourself (DIY) approach for AP automation and payment processing, it’s essential to understand the distinct advantages each offers and their impact on your organization.

Managed service for AP automation: A managed service solution, typically provided by specialized firms, encompasses the full spectrum of AP automation. These providers handle everything from implementation to daily operations, including payment processing and compliance management. This approach ensures rapid deployment, scalability, and robust security measures. It reduces the internal workload, allowing your team to focus on strategic initiatives rather than routine tasks. However, it involves higher costs and reliance on the service provider for ongoing support and customization.

DIY AP automation solution: A DIY approach under a Software as a Service (SaaS) model provides the technology platform for AP automation while leaving implementation and management to your internal team. This option offers greater control over customization and integration with existing systems, catering to organizations with specific operational needs and in-house expertise. While it promotes internal skill development and cost-effectiveness, it requires substantial internal resources for implementation and ongoing maintenance.

Choosing the right solution: Evaluate your budget, internal capabilities and strategic objectives. Consider factors such as the complexity of your AP processes, the need for scalability and the level of support required. A managed service may be beneficial for rapid deployment and reducing administrative burden, while a DIY approach offers flexibility and control over customization. By aligning these considerations with your organization’s goals, you can select the optimal AP automation solution that meets your operational and financial requirements.

How technology supports AP Automation —
Top 5 capabilities

These ‘Top 5’ critical digital capabilities stem from the Spend Matters TechMatch workbench — derived from a larger number of requirements scored in the SolutionMap solution benchmark.

The Top 5 capabilities are the highest-weighted critical capabilities that are central to the displayed solution market benchmark. They have been developed by Spend Matters team of analysts and refined by procurement users in tech-selection projects using our market-proven SolutionMap benchmarking dataset and associated TechMatch decision-making tool.

1. Supplier collaboration workspace

The ability of a supplier collaboration workspace or portal to enable suppliers to engage within a buyer’s process (e.g., visibility, self-service, document exchange, etc.) with its corresponding access security.

Average vendors typically offer basic supplier portal capabilities, including limited user account management, role-based security, and basic collaboration features like email and document upload. They provide standard portal configuration and profile maintenance.

In contrast, leading vendors distinguish themselves with advanced features such as real-time collaboration tools and dispute resolution capabilities. They offer extensive access to workflow management and business-rule support, along with fine-grained permissioning for workflows.

Top performers achieve a ‘Network Effect’ style of collaboration where suppliers can manage multiple buyers within the same portal, and even act as buyers themselves, receiving invoices from their suppliers.

2. Invoice processing

The ability to maximize the accuracy, efficiency and timeliness of invoice processing and to resolve any issues/disputes with suppliers and internal stakeholders.

The average AP/I2P vendor typically provides core functionalities to meet standard invoice requirements. This includes automating invoice capture, matching, validation, and approvals based on predefined business rules. They also offer dispute resolution capabilities through portal features, support for creating credit notes and mobile-friendly invoicing functionalities.

In contrast, top-performing vendors excel by extending these capabilities. They process invoices through multiple approval chains, utilize AI/ML for automatic approvals and enable the creation of recurring invoices using diverse methods.

Differentiating themselves further, top vendors in our SolutionMap dataset focus on achieving no-touch, fully automated invoice processing. They offer advanced features to support high levels of complexity, such as direct connections with Peppol, EESPA, third-party digital business networks, third-party e-invoice providers and government hubs (portals). These vendors utilize advanced AI algorithms, including NLP models for understanding context and relationships within invoice data, ensuring rigorous validation and fraud detection. They provide configurable options for managing exceptions and human interventions, enhancing efficiency in validation and approval processes.

3. Early payment

The capacity to intelligently identify and capture early payment discounts for both buyers and suppliers in order to earn higher cash returns.

Average performing vendors typically offer basic early payment capabilities and support for a limited number of currencies. They provide partial support for generating early payment working capital plans and offer basic reporting capabilities.

In contrast, top performing vendors offer enhanced global capabilities, supporting multiple countries and providing dynamic discount scheme configurations at various levels.

What distinguishes advanced working capital and early payment vendors is their ability to provide a cash planner tool that enhances cash and capital planning for both buyers and suppliers. They also leverage a partner ecosystem to support supply chain financing and employ AI capabilities to improve supplier adoption of early payment programs.

However, many top performers focus primarily on core support for standard requirements rather than offering these advanced capabilities.

4. Payment processing

The ability to schedule and execute all supplier payments in a cost-effective, efficient and secure way, regardless of the payment method (check, electronic check, ACH, wire).

Average vendors typically offer basic support for handling payments through various methods, including capturing supplier payment details and integrating them into the payment system with invoices. They also provide limited support for cross-border payment scenarios in specific countries.

In contrast, top-performing vendors excel in supporting global cross-border payments and offer capabilities to create payment plans based on diverse criteria. They leverage AI/ML for fraud prevention and provide intuitive UI/UX workspaces for viewing, selecting and approving payment files.

Leading vendors further differentiate themselves with AI/ML analysis for identifying discrepancies and automated payment scheduling. They possess licenses for global fund transmission, bypassing traditional banking constraints.

5. AP Automation analytics

The capacity to meet Finance/AP business goals through strategic, actionable insight from all relevant applications.

Average vendors typically offer out-of-the-box report builders with drag-and-drop models, along with reporting dashboards and descriptive reports for payment, invoicing and finance analysis using AP metrics.

In contrast, top-performing vendors enhance these capabilities with deeper analytics, including market intelligence derived from community data and AI/ML-enabled actionable finance analytics.

Leading vendors also provide actionable analytics for benchmarks, process KPIs, and user KPIs. They offer predictive and prescriptive analysis for payment fraud detection and support early payment adoption, cash management and working capital optimization to streamline finance operations.

Why selecting AP Automation/I2P technology can be difficult

Selecting AP automation technology can be challenging for several key reasons. 

• Organizations must carefully align their specific accounts payable processes, supplier relationships and regulatory requirements with the functionalities offered by different AP automation solutions. This alignment ensures that the chosen technology meets the unique needs of the organization effectively.
• Seamless interoperability and integration with existing ERP platforms and financial systems are critical. Effective integration prevents workflow disruptions and maintains data consistency across AP operations.
• User adoption and usability are pivotal. The chosen AP Automation solution should be intuitive and align with the digital proficiency of the finance team to ensure smooth adoption and maximize operational efficiency.
• Scalability and flexibility are essential considerations. The technology must accommodate increasing transaction volumes, onboard new suppliers seamlessly, and adapt to evolving AP strategies without requiring extensive modifications.
• Cost-effectiveness and ROI are central to the decision-making process. Finance teams need to evaluate the initial investment against long-term benefits such as cost savings, enhanced efficiency, and improved compliance with financial policies.

By meticulously evaluating these factors and conducting thorough vendor assessments, organizations can navigate the complexities of selecting AP automation technology effectively, aligning with their strategic goals for improved accounts payable management and operational efficiency.

How Spend Matters can help you select AP Automation/I2P technology

Spend Matters specializes in comprehensive procurement technology diligence, offering projects, advisory services and access to its Insider membership community. Through Insider, procurement practitioners access Spend Matters SolutionMap vendor rankings and unbiased coverage of solution providers and market trends impacting procurement, finance and supply chain operations. As IT solution analysts, Spend Matters ensures rigorous fact-checking and analysis across all solutions.

TechMatch, a specialized tool, enables procurement teams to refine requirements, generate shortlists and compare AP automation functionalities. Recent updates have enhanced usability with detailed technical definitions, a TechMatch Index for vendor alignment and direct links to vendor profiles for deeper insights. 

Spend Matters empowers organizations to select AP automation technology that best meets strategic needs, including:

• Capabilities to capture and digitize invoices regardless of supplier IT maturity level
• Validate invoice data according to country-specific and regulatory requirements
• Apply business rules to incoming invoices, maximize efficiency and accuracy of invoice processing
• Manage financial accounting complexities, optimize early payment discounts, support supply chain financing
• Streamline payment processing across various methods, integrate commercial cards, derive actionable analytics
• Integrate with ERP/MRP systems globally, operate on a modern cloud-based platform
• Manage global customer variations and deliver top-notch implementation capabilities for successful transformations

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Discover AP Automation vendors

These are the vendors we are covering today (or very soon). Visit their vendor directory pages on Spend Matters for a quick vendor overview, demographic information and relevant articles, including vendor analysis.

Solution Provider	What it does
Airbase	Airbase is an all-in-one spend management platform that supports AP automation, expense management, corporate cards and guided procurement, particularly excelling in card programs and global, multi-currency travel booking.
AvidXchange	AvidXchange focuses on AP automation, payment processing and invoice acceleration for North America, leveraging a vast network of 680,000 unique suppliers.
Basware	Basware provides a comprehensive P2P solution with a robust B2B commerce network and advanced e-invoicing capabilities, widely recognized in the e-Procurement space.
BILL	BILL offers AP automation solutions for small and midsize companies, including ACH and international payments, approval workflows and ERP integrations.
Billhop	Billhop addresses payments pain points by enabling card payments for suppliers who typically do not accept cards, acting as an intermediary.
BirchStreet Systems	BirchStreet Systems provides a cloud-based procure-to-pay platform tailored for the hospitality industry, managing both direct and indirect material purchases.
Candex	Candex focuses on streamlining the tail spend P2P process, offering AP automation, payment processing and business process outsourcing for services.
Claritum	Claritum delivers a cloud-based P2P solution with tactical sourcing and catalog-based procurement, enabling collaboration on category-specific tail spend activities.
Compleat Software	Compleat Software automates the P2P process, including purchase requisitions, order placement, and invoice processing, with real-time spend analytics.
Corcentric	Corcentric is a long-standing provider specializing in AP automation, payments, and working capital, supporting various business lines with a comprehensive approach.
Coupa	Coupa offers an end-to-end source-to-pay solution with travel and expense management, advanced benchmark insights and a strong emphasis on payments and invoice management through ‘Coupa Pay.’
ebidtopay	ebidtopay is a European suite for the mid-market, covering source-to-contract, procure-to-pay, supplier relationship management and supply chain management.
EffiGO	EffiGO provides an India-based S2P/P2P platform with strategic sourcing, procure-to-pay and a supplier portal, including a product for processing surplus stock and scrap.
Esker	Esker’s solution spans the entire P2P and O2C cycle, featuring online purchase requisitions, accounts payable automation, supplier communication and analytics.
Fraxion	Fraxion offers a mobile-friendly procure-to-pay suite for spend management, automating purchasing, expense and accounts payable processes.
GEP	GEP provides three S2P/P2P solutions: GEP SMART (S2P suite), GEP NEXXE (SCM), and GEP Green (sustainability), underpinned by the AI-powered GEP Quantum platform.
Glean	Glean AI’s AP automation solution targets SMEs, focusing on identifying savings opportunities through spend visibility and analysis, beyond traditional invoice processing.
Goby	Goby offers a cloud-based AP automation solution for the mid-market, known for fully automated invoice acquisition and utility bill processing.
ISPnext	ISPnext’s S2P/P2P solution includes supplier management, sourcing, contract management, procurement, AP automation, and spend analysis, serving mid-sized organizations in Benelux.
Ivalua	Ivalua is a global S2P/P2P solution provider with extensive coverage and a strong partner network, offering modules for direct and indirect materials management.
Jaggaer	Jaggaer ONE covers the full S2P/P2P process with additional supply chain collaboration and payment solutions, evolving from its initial focus on strategic sourcing.
Kissflow	Kissflow provides modules for strategic sourcing, procure-to-pay, supplier management, contract management, inventory management, invoice automation, and spend analytics, typically serving SMEs.
Medius	Medius offers a modular S2P/P2P suite for the European mid-market, focusing on downstream processes with suite-level integrations to support complete procurement processes.
MeRLIN	MeRLIN supports direct and indirect spend for mid-market companies in manufacturing and the public sector, offering a comprehensive S2P/P2P suite.
Oalia	Oalia provides a P2P solution often deployed as a complement to its S2C offering, serving mainly intellectual services and broader procurement needs.
OneMarket	OneMarket by LogicSource covers P2P, analytics, sourcing, and contracts with additional project management capabilities.
Onventis	Onventis offers a comprehensive S2P/P2P suite for the European mid-market, enhanced by recent acquisitions for spend analytics and risk data integration.
OpusCapita	OpusCapita, part of the GEP portfolio, provides a P2P platform with e-procurement, invoice processing automation, product information management, and B2B integration.
Oracle	Oracle’s Procurement Cloud covers the S2P/P2P process, integrated with other Oracle applications like supply chain and human capital management.
Order.co	Order.co’s P2P solution combats maverick spend and enhances efficiency by consolidating and paying invoices, serving procurement teams and accounts payable.
Penny Software	Penny offers a user-friendly cloud-based procurement software covering the complete procurement journey, customizable and integratable.
PLANERGY	PLANERGY’s P2P solution includes modules for requesting, purchasing, AP automation and spend analytics, targeting SMEs and lower mid-market companies.
Proactis	Proactis offers an S2P/P2P suite with a marketplace/supplier network and revenue capture capabilities, focusing on buy-side procurement processes.
ProcurePort	ProcurePort’s strategic sourcing solution covers RFx and auction processes, complemented by a separate P2P platform for full procurement coverage.
Promena	Promena focuses on smaller and mid-size businesses, offering supplier management, sourcing contracting and e-procurement capabilities.
Raindrop	Raindrop provides a comprehensive S2P/P2P platform for procurement processes, including spend management, sourcing, contract management and payables.
SAP Ariba	SAP Ariba covers the full S2P/P2P lifecycle, integrating with other SAP products for a seamless procurement experience.
SoftCo	SoftCo’s P2P solution targets SMEs/MM in Europe with advanced invoice capture, workflow and business rule engine, emphasizing strong systems integration.
Synertrade	Synertrade offers supplier management, procure-to-pay and source-to-contract solutions, providing a comprehensive e-procurement suite.
Taulia	Taulia provides working capital solutions, optimizing cash flow and supply chain efficiency through its AI-powered platform, connecting businesses globally.
TeamPay	TeamPay offers a P2P solution for the middle market, integrating with Slack and Microsoft Teams to control spending efficiently.
Tipalti	Tipalti targets the mid-market with an integrated finance automation solution, covering global payments, invoice management, supplier management and procurement.
Tradeshift	Tradeshift leverages its business network for marketplace, e-invoicing, v-card and SCF programs, focusing on supplier connectivity and transaction enablement.
Tungsten	Tungsten’s supplier network provides e-invoicing and supply chain financing, with a strong emphasis on global regulatory compliance.
Varis	Varis’ P2P solution includes Marketplace, e-procurement, and procure-to-pay packages, covering requisitioning, ordering, contracts and payables.
Vroozi	Vroozi’s cloud-based P2P solution evolved from e-procurement to a full suite, including invoicing, payments, a supplier portal and RFQ capabilities.
Yooz	Yooz specializes in AP automation with additional capabilities in e-invoicing, competing in the overlapping P2P, e-invoicing and AP automation ecosystems.
Zapro AI	Zapro AI offers S2P/P2P solutions with vendor and inventory management capabilities, enhancing the procurement process.
ZIP	ZIP’s P2P solution automates PO creation, invoice and payment processing, and approval workflows, featuring AI-powered tools and ERP integration.
Zycus	Zycus provides comprehensive procure-to-pay and source-to-contract platforms, integrating risk management and ESG management functionalities.

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Glossary

Term	Definition
AP Automation	The use of technology to streamline and automate the accounts payable (AP) process, from invoice receipt and processing to payment and reconciliation.
Approval Workflows	Configurable processes in AP automation that route invoices through various stages of approval based on business rules and compliance requirements, integrating rules-based matching against purchase orders, contracts, and established business rules.
Automated Reconciliation	The process in AP automation of automatically matching payments with invoices and GL accounts to ensure accuracy and completeness.
B2B (Business-to-Business)	Transactions conducted between businesses, as opposed to transactions involving individual consumers.
Batch Processing	The automated handling of multiple transactions at once in AP automation, such as processing a group of payments or invoices together.
Compliance	Adherence to financial regulations, internal policies, and industry standards within AP automation processes to avoid legal and financial penalties.
Dynamic Discounting	A financing option in AP automation that allows suppliers to receive early payment on invoices in exchange for a discount, improving cash flow management. This is a buyer-funded finance option.
EDI (Electronic Data Interchange)	The electronic exchange of business information using standardized formats, used in AP automation for efficient B2B transactions.
e-Invoicing	The electronic submission, processing, and validation of invoices, which enhances efficiency and compliance with digital invoicing standards in AP automation systems.
Electronic Funds Transfer (EFT)	A system of transferring money from one bank account directly to another without any paper money changing hands, commonly used in AP automation for payment processing.
ERP (Enterprise Resource Planning)	Integrated software systems that manage core business processes. In AP automation, ERP integration ensures seamless data flow between procurement, finance, and payment systems.
Financial Controls	Mechanisms within AP automation to prevent fraud and errors, ensuring the accuracy and integrity of financial transactions.
Invoice Factoring	A financial transaction in AP automation where a business sells its invoices to a third party at a discount in exchange for immediate cash.
Invoicing	The process of generating and sending invoices to request payment for goods or services provided. In AP automation, this process is digitized and often includes electronic submission via supplier portals, OCR scanning for paper invoices, integration with EDI systems, and handling of email PDF invoices.
KPIs (Key Performance Indicators)	Metrics used in AP automation to measure and monitor the efficiency and effectiveness of the accounts payable process.
NLP (Natural Language Processing)	A branch of artificial intelligence that helps computers understand, interpret, and manipulate human language, used in AP automation for intelligent data extraction and validation.
OCR (Optical Character Recognition)	A technology used to convert different types of documents, such as scanned paper documents or PDFs, into editable and searchable data by recognizing text characters.
Procure-to-Pay (P2P)	An end-to-end process in AP automation that includes requisitioning, purchasing, receiving, invoicing, and payment for goods and services.
Supplier Portal	A centralized online platform in AP automation systems for managing supplier relationships, onboarding, document exchange, and communication.
Supply Chain Finance	Financial arrangements provided by AP automation platforms that allow suppliers to receive early payments for invoices, typically funded by a third-party financial institution.
Tax Compliance	Ensuring adherence to regulatory requirements related to tax calculations, VAT, and reporting within AP automation systems.
Virtual Cards	A type of payment method in AP automation where a virtual credit card number is generated for specific transactions, enhancing security and control over payments.