There are so many Accounts Payable (AP) automation solutions available it can be very difficult to compare them all and figure out what works best for your organization. Given this overwhelming number of options, we find that it is best to have a structured approach in determining which product would work best for your organization. This blog post will guide you through the process of comparing AP automation solutions to help you make an informed decision that aligns with your business needs. We will also highlight how DynamicPoint’s Office 365-based solution, EasyAP365, stacks up with the competition.
1. Define Your Requirements
Start by identifying your organization’s specific AP workflow requirements. Consider factors such as the volume of invoices, approval workflows, integration capabilities with existing systems, and scalability. Clearly defining your needs will serve as a foundation for evaluating potential solutions. And without this important step, your exploration will unfortunately be wandering around without a map of where you want to go.
2. Assess Automation Capabilities
Examine the automation features offered by each solution. Look for key functionalities such as invoice data capture, automatic approval workflows, and seamless integration with ERP systems. Evaluate the solution’s ability to handle diverse invoice formats and data sources.
3. Integration with Existing Systems
An effective AP automation solution should seamlessly integrate with your existing systems, such as ERP, accounting software, and document management tools. Integration capabilities play a crucial role in ensuring a smooth transition and reducing manual data entry.
4. User-Friendly Interface
Evaluate the user interface of each AP automation solution. A user-friendly interface enhances adoption among employees and minimizes the learning curve. Look for intuitive dashboards, easy navigation, and features that facilitate collaboration among team members.
5. Mobile Accessibility
Consider the mobile accessibility of the AP automation solution. Depending on your user community and their work habits, this can be make or break. Look for solutions with responsive mobile interfaces or dedicated mobile apps.
6. Compliance and Security
Ensure that the AP automation solution complies with industry regulations and data security standards. Look for features such as audit trails, role-based access controls, and data encryption. A secure solution is essential to protect sensitive financial information. Also determine if the vendor is storing your data or if you are in control of it.
7. Analytics and Reporting
Analyze the reporting and analytics capabilities of each solution. Robust reporting features provide valuable insights into your AP processes, helping you identify areas for vendor management improvement and cost savings.
8. Vendor Reputation and Support
Research the reputation of each AP automation solution provider. Consider customer reviews, testimonials, and case studies. Additionally, assess the level of customer support offered by the vendor, including training resources and responsiveness to queries.
How DynamicPoint Stacks Up
DynamicPoint is drastically different than other solutions in the market as we are an entirely Office 365 based application. We use what our customers already own to provide the most flexible and cost effective solution.
The image below provides a summary of the technology we leverage to satisfy the most complex of requirements.
| AP Automation Requirement | Office 365 Feature / Product |
| User Authentication & Security | Entra ID (Azure AD) |
| Invoice Receipt & Document Storage | SharePoint |
| Invoice Approval & Automation | Power Automate |
| OCR & Image AI | Azure AI |
| Check Request & Configurable Forms | Microsoft Forms |
| Dashboards & Analytics | Power BI |
| AP / PO Logic & ERP Integration | The DynamicPoint EasyAP365 app |
Conclusion
Comparing AP automation solutions requires a thorough understanding of your organization’s needs and a careful evaluation of each solution’s features. By following these guidelines, you can make an informed decision that aligns with your business goals and sets the foundation for a streamlined and efficient AP process, not to mention successful implementation.
If you’d like to learn more, check out our EasyAP365 product page or schedule a demo.
