Accounts Payable Automation Vendor Evaluation Template

The decision-making involves 4 major steps:

Identify Your Needs: Understand your business size and complexity. Small businesses might prioritize ease of use and cost, while larger enterprises may need advanced features.

Feature Prioritization: Look for software that offers the specific features you need, such as:

Automated Invoice Processing

Auto-coding of Non-PO Invoices

AP Inbox Management

Tax and Legislative Compliance

Vendor Support: Ensure the software vendor provides comprehensive support and training, especially if you have limited IT resources.

Flexibility and Adaptability: Choose software that can grow with your business and adapt to changing needs.

To have an efficient accounts payable process, it’s essential for buyers to thoroughly research the functions and benefits offered by various vendors. Here is a vendor evaluation toolkit, designed to help you shortlist vendors that best align with your business goals.