SolutionMap AP Automation Content

SolutionMap Fall 2020 launches, now ranking 77 procurement technology vendors

Grab a comfy sweater and a hot pumpkin spice latte (don’t judge): It’s time for the latest SolutionMap release.

With today’s launch of the free SolutionMap Fall 2020 release, Spend Matters’ analysts have assessed 77 procurement technology vendors, adding 12 providers since our Spring 2020 update.

SolutionMap, which began in 2017, has become the definitive procurement technology benchmark due to the depth of analyst assessments, quantity of real-life customer inputs and frequency of release (twice a year) to accurately reflect vendor capabilities and market developments.

Release note, SolutionMap Fall 2020: Accounts Payable (AP) Automation

This Spend Matters SolutionMap Insider release note provides insight into the SolutionMap Fall 2020 release for the AP Automation category. The note reviews the process that we follow and highlights what has changed since the last SolutionMap release.

This is the first Fall release since the start of semiannual SolutionMap cycles. Going forward, there will be two releases per year, Spring and Fall.

AP automation is a major portion of the Invoice-to-Pay (I2P) technology market and will be harmonized with our broader I2P SolutionMap category in the future. For now, it will be considered a standalone map.

What’s new in the Fall 2020 Accounts Payable (AP) AutomationSolutionMap?

Spend Matters updated the bubble size methodology of the SolutionMap rankings. The bubble size previously represented the number of customers served by a vendor. This method did not adequately convey a vendor's experience and resources to handle complex global deployments. As such, the new bubble size considers:

  • global market scale based on the number of customers across the globe
  • number of full-time employees focused on the relevant solution(s)
  • revenue per customer in the relevant solution(s)

These factors were determined by the analyst team, and vendors were given the opportunity to validate the inputs.

Fourteen vendors are ranked in the category for this release, an increase of 8 vendors since this category’s debut last SolutionMap cycle.

For the Fall 2020 release, five vendors are new to AP Automation SolutionMap and three existing SolutionMap participants expanded their categories to include AP Automation.

The new providers are:

  • AvidXchange
  • Corcentric Payables Automation (COR360)
  • Infor
  • Medius (Wax Digital) — now merged has newly entered AP. It also is newly participating in Invoice-to-Pay (I2P) and Procure-to-Pay (P2P), plus it’s continuing Wax’s participation in E-Procurement, CLM, Sourcing and Supplier Management.
  • SourceDay

The providers expanding into AP Automation are:

  • Determine (Corcentric) — also participating in Source-to-Pay (S2P)
  • GEP — also participating in S2P
  • Opus Capita — also participating in I2P, E-Procurement and P2P

Customer references now have a lifespan of two-and-a-half years before they need to be updated. The set of AP Automation customer references had 66 new individual customer references for this release.

All readers can get a first look at the free Fall 2020 SolutionMap rankings here.

SolutionMap Insider members can learn more about each vendor in the Fall 2020 Provider Scoring Summary reports right here.

SolutionMap: AP Automation – Fall 2020

Spend Matters - Free Research Download

This report contains the AP Automation SolutionMap, a comparative analysis of AP Automation technology solution providers for Fall 2020.

AP Automation vendors are highlighted in a new SolutionMap category for our Spring 2020 release

“The AP Automation market is ‘hot, hot, hot’ in which vendors compete in a market that is growing and changing by the day,” Spend Matters’ Founder Jason Busch wrote in a recent Nexus article.

That’s why Spend Matters has added AP Automation technology rankings to the Spring/Q1 2020 SolutionMap release, which came out Tuesday. Six vendors demonstrated their solutions for Spend Matters, participated in a round of analyst scoring of their offering’s capabilities and were ranked according to feedback from their customers. (See details below about Basware, Coupa, SoftCo, Tipalti, Tradeshift and Yooz.)

Those vendors represent a trend that SolutionMap needed to capture, but you might be asking why this technology is developing now.

AP automation holds a lot of promise for businesses that want to optimize cash flow, reduce manual tasks and improve insights into transactions. It is considered a great stepping stone into invoice-to-pay (I2P) process automation, which stretches from invoice creation/receipt through validations and approval, all the way to payment. AP Automation represents a subset of these steps.

“Investment in this area is critical, not just for procurement transformation but also for supporting value creation across the whole business,” says Xavier Olivera, Spend Matters’ Lead Analyst for the Procure-to-Pay category.

Release note: Accounts Payable (AP) Automation is new for the Spring/Q1 2020 SolutionMap

Spend Matters is pleased to announce the debut of a new SolutionMap category — AP Automation — for today’s Spring/Q1 2020 SolutionMap release. AP Automation has been released in addition to the Invoice-to-Pay SolutionMap ranking and 11 other technology categories. This release note provides SolutionMap Insider subscription members with details about the evaluation process.

Six vendors are ranked in the category for this release, when SolutionMap is shifting from quarterly updates to spring and fall updates. This is the last quarterly release and the first spring release, so you’ll see it labeled “Spring/Q1.”

This category undergoes the same rigorous two-part process where Spend Matters’ analysts compare vendors by examining hundreds of solution capabilities and ranking vendors according to feedback from the providers' own customers.

AP Automation includes solutions and services that support the processing and payment of invoices. These solutions include e-invoicing capabilities such as invoice capture and digitization, invoice validation, invoice matching, GL coding and approvals. They also support payment-related functionality for payment file creation, mass payments (p-card, check, ACH, FX), one-time payments (v-cards, PayPal), payment reconciliations, credit memo management, trade financing (early payment and dynamic discounting) and payment transmission (including cross-border). Solution vendors may also provide some level of supplier management and supplier collaboration via supplier networks and/or portals.

AP automation is a major portion of the Invoice-to-Pay (I2P) technology market and will be harmonized with the broader I2P SolutionMap category in the future. For now, it will be considered a standalone map.

For this Spring/Q1 2020 release, three existing SolutionMap participants expanded their categories to include AP Automation, and three vendors in the AP Automation category are new to SolutionMap. If an existing provider expanding into AP Automation had previously received Invoice-to-Pay customer references, they were applied to the AP Automation category. The set of AP Automation customer references had 15 new individual customer references for this release.

The new providers are:

* SoftCo
* Tipalti
* Yooz (participated in I2P in past SolutionMap cycles)

Those providers expanding into AP Automation are:

* Basware (also participating in P2P)
* Tradeshift (also participating in P2P)
* Coupa (also participating in S2P and CW/S)

All readers can get a first look at the free Spring/Q1 2020 SolutionMap rankings here.

SolutionMap Insider members can learn more about each vendor in the Spring/Q1 2020 Provider Scoring Summary reports right here.

Read the full release note for more details on the evaluation process.

SolutionMap update for Spring/Q1 2020 ranks 69 procurement technology vendors and adds AP Automation category

Spend Matters today has updated its free SolutionMap benchmark rankings for the new Spring/Q1 2020 release. The latest SolutionMap compares 69 procurement technology providers across 13 categories — which includes a new ranking map for Accounts Payable (AP) Automation vendors.

Six providers are featured in the first AP Automation category, which reflects the growing importance that vendors are placing on payments.

SolutionMap began in 2017 and has become the definitive procurement technology benchmark. It will now be updated in the spring and fall instead of each quarter.

Click on the headline above to find out which vendors are in the new AP Automation category — and to learn about new vendors to SolutionMap.

SolutionMap: AP Automation — Q1 2020

Spend Matters - Free Research Download

This report contains the AP Automation SolutionMap, a comparative analysis of AP Automation technology solution providers for Q1 2020.