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Accrualify: Vendor Analysis (Part 3) — SWOT, Competitive Placement and Customer Recommendations

Accrualify is a new breed of finance-oriented solution that targets a range of procurement and payables processes. It is one of a handful of vendors that, especially within the middle market, can offer solutions that solve the needs of finance and procurement organizations directly. While Accrualify’s AP automation and procurement capabilities are not as robust as some, the overall package and approach could present a more attractive use case for nimble solution buyers with specific requirements in mind.

In Part 3 of Spend Matters’ PRO series examining Accrualify, we turn our attention to placing the provider in a competitive context of a new breed of solutions targeting finance and procurement, offer a strengths/weaknesses/opportunities/threats (SWOT) framework and conclude with recommendations for potential customers. (See Part 1 for an introduction to the provider as well as Part 2 for its solution strengths and weaknesses.)

Accrualify: Vendor Analysis (Part 2) — Product Strengths and Weaknesses

In our initial research brief on Accrualify, we introduced the four-year-old provider based out of San Mateo, California. The upstart procurement and finance technology vendor offers a unique set of technology capabilities to manage specific components of the invoice-to-pay cycle, as well as adjacent areas like basic requisitioning and broader accruals management.

The first part of this brief provided an overview of Accrualify’s offering and a short selection requirements checklist that outlined the typical company for which Accrualify might be a good fit. In today’s installment (Part 2), we provide a breakdown of what is comparatively good (and not so good) about the solution, exploring Accrualify’s “positives” and “negatives.”

Accrualify: Vendor Analysis (Part 1) — Background and Solution Overview

procurement

Most of the well-known solution providers in the P2P space got their start in one of two ways. They either began with improving on the e-procurement experience offered by ERP, pursuing an “Amazon-like” user experience for frontline buyers and then moving to invoicing and payments; or, they focused on the problems of invoice capture, validation and processing, expanding from AP automation to full invoice-to-pay support and later building or acquiring e-procurement functionality. Both approaches eventually allowed such providers to link the two “Ps” in P2P, bringing procurement and finance activities together under one technology roof.

Accrualify, the subject of this three-part Spend Matters PRO Vendor Introduction, has taken neither approach. Rather, the San Mateo, California-based provider started, in 2015, with tracking accruals and enabling simple B2B payments. It later built out functionality for AP automation and eventually PO management and requisitioning, giving it what we would call an almost complete P2P solution under the Spend Matters P2P SolutionMap methodology. Yet even without the catalog management and ordering functionality that would give it true e-procurement support, Accrualify has managed in four short years to build a commendable set of I2P capabilities, ones well-suited to the mid-market, as customers such as BitTorrent, Helix, FloQast, Lookout and Getaround can attest.

This Vendor Introduction series offers a candid take on Accrualify and its capabilities. The series will include an overview of Accrualify’s offering, a breakdown of what is comparatively good (and not so good) about the solution, a SWOT analysis, and a selection requirements checklist for companies that might consider the provider.