Account payable automation allows organizations to automate, manage, and track the financial transactions owed to respective vendors by handling invoice entries and payments process, as well as provides reporting and analytical capabilities. Accounts payable automation solution enables organizations to cut through the delays and streamline the entire invoice approval process with a real-time view of invoice processing. Furthermore, accounts payable automation reduces costs by automating the full invoice life cycle, hence playing a significant role the organization’s digital transformation process. Furthermore, accounts payable automation is a significant business driver of the organization’s entire digital transformation due to cost savings and a forward-thinking business approach.
As part of the research “SPARK Matrix™: Accounts Payable Automation, 2022” Quadrant Knowledge Solutions conducted an in-depth analysis of major accounts payable automation vendors by evaluating their products, market presence, and customer value proposition. Based on the analysis, the study provides competition analysis and ranking of the leading vendors in the form of SPARK Matrix. The evaluation is based on the primary research with expert interviews, analysis of use cases, and Quadrant’s internal analysis of the overall accounts payable automation market. The SPARK Matrix evaluation examined Emburse and various other vendors including AvidXchange, Basware, Bill.Com, Corcentric, Coupa, Esker, iPayables, Medius, MineralTree, Pagero, Plate IQ, SAP Ariba, Serrala, Stampli, and Tipalti.
Quadrant Knowledge Solutions research analyses market dynamics, growth opportunities, emerging technology trends, and the vendor ecosystem of the global market. This research provides strategic information for technology vendors to better understand the market supporting their growth strategies and for users to evaluate different vendor capability, competitive differentiation, and market position.
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