Question: Do you know of a system that offers secure vendor payment options with electronic payment tracking and rebates, and also verifies vendors through multiple data points?

If you want a secure system that tracks payments electronically and offers rebates, and that verifies vendors with a lot of checks, Paymode-X is a top contender. It automates the entire invoice-to-pay process and uses machine learning, AI and OCR to extract invoice data. Paymode-X verifies vendors with more than 300 data points to reduce fraud, and it offers two electronic payment options with rebates that can be tracked through a dedicated portal. The system integrates with any GL through API or automated data transfer and is used by more than 550,000 businesses.

Another strong contender is Coupa, a cloud-based spend management platform that offers total spend management combined with community-generated AI and data. Coupa offers a wide range of capabilities including treasury management, procure-to-pay and AP automation. It provides a global view of cash positions and automates processes across sourcing and payments, making it a good choice for companies looking to modernize financial and procurement processes.

For a more comprehensive solution, Stampli is an AI-powered AP automation platform that centralizes AP-related communication, documentation and workflows. It offers centralized collaboration, adaptive AI to automate work, and flexible payment options like Stampli Direct Pay for US and international payments. Stampli also offers Stampli Cards for AP purchases and expenses, offering cashback rewards and ensuring visibility and control across the entire invoice lifecycle.

Last, Tradeshift offers a business network that modernizes traditional source-to-pay processes with AI. It includes a growing B2B e-commerce network, global e-invoicing and virtual corporate credit card solutions. Tradeshift helps businesses lower costs by digitizing invoices and automating AP processes, optimize cash flow and attract new customers by democratizing B2B e-commerce.