The Vendors

• Allegient Systems
• Bottomline (recently acquired Visibility)
• Bridgeway
• Corprasoft
• CSC
• CT TyMetrix (Wolters-Kluwer)
• DataCert
• Examen (Reed-Elsevier)
• Serengeti

Many vendors offer e-invoice processing services, so how does a company select the right one? Although there is much discussion about the “commodization of e-invoicing”, there are substantial differences between vendors and the products and services they offer, including:

The Manner in Which They Deploy Their Technology Solutions

Do they use an Internet-based ASP delivery model and require that confidential and Sarbanes-Oxley/HIPAA-senstive data be sent to and stored by them, or can they integrate and install their technology to work directly and securely with existing corporate and insurance company databases and systems?

The Level of Customization They Offer

Can they readily accept and associate invoice processing data with a company’s own internal billing codes and segmentation levels?

The Advisory Services They Offer

Do they merely process and present invoice processing data, or can they also help make sense of the data by offering experienced insights and advisory services on what the data means and how to act on it?

Their Pricing Models

It is not at unusual for two vendors offering nearly identical products and feature sets to have price points varying by as much as $500,000. Some of this can be explained by the differences above, but many times these variances are merely tests to see how much price tolerance and industry pricing knowledge a prospect may have.

Their Market Approach

There has been a tremendous amount of merger and acquistion activity within the e-invoicing industry during the past two years. This has created turmoil and confusion as these vendor’s new owners make their mark on these companies, their associated product offerings and overall market approach.

This raises a question as to whether some of these vendors will remain client-focused and if they can continue to offer custom tailored technology solutions, or if their market approach has shifted away from this and towards simply offering canned and “one size fits all” products offering no customization.

SpectoWise is familiar with all of these e-invoicing vendors, their products, market approach, the value-added services they can (or can not) offer, their individual strengths and their individual weaknesses. Using our experience and knowledge, SpectoWise can slash months off a vendor evaluation and selection process.

SpectoWise can also help companies draft detailed and very customized Requests for Proposals (RFPS) designed to specifically to address each company’s own unique electronic invoicing needs.

SpectoWise additionally offers independent and unbiased third-party reviews of vendor’s RFP responses and can highlight areas of concern or where additional questioning may be required.

Have other questions? Want to learn more? Why not get in touch.