Buyer’s Guide to Spend Management: Six performance criteria.

What you will get:

• An evaluation framework to help put the alternative spend management vendors into context.
• A comparison of how key competitors stack up against the six performance criteria.
• A vendor assessment template so that you can create your own side-by-side comparison table of any vendors you wish to review.
• A tool to weigh the importance of over 80 features and capabilities to reflect your circumstances and needs so that your evaluation leads to the right conclusion for your company.

What you’ll find in this ebook:

Full platform.

A true spend management platform consolidates functionality for bill payments, corporate credit card programs, and employee expense reimbursements, all supported by approval workflows, real-time reporting, and accounting automation. As of this writing, there is only one full spend management platform solution for small to mid-market companies.

Depth of features.

Consolidation of three products doesn’t mean compromising on functionality for any of them. The best spend management platforms offer feature parity plus when compared to point solutions.

Flexibility.

In today’s business environment, finance teams need to be agile and responsive. So too do the systems they use, including options to purchase the functionality needed, customizations to fit your company’s needs and policies, ability to select from all payment types, and more.

Integrations.

Native integrations with ERP platforms allow for greater automation. Integrations into HRIS systems for provisioning and deprovisioning, and communication tools, streamline the workflows for accounting and finance teams.

Scalability.

Ensure your spend management platform will grow with your company by offering features for more complex organizations, like international payments and subsidiary support. Scalable solutions can take a business from founding to IPO.

UI/User experience.

Even the most innovative features won’t help a finance team, or be embraced by employees if the platform is difficult to use. Find out what to look for to ensure a positive experience for everyone.

As a bonus, we include a vendor assessment template. This downloadable, interactive tool lets you select the vendors you want to review in a side-by-side chart. With over 80 features and capabilities to assess, the template lets you weight each one depending on its importance to your operation. Lay out the alternatives, communicate them with the stakeholders in your company and make the decision easy for everyone.