Question: Is there a platform that can help me manage vendor payments and lower processing costs?

If you're looking for a platform to manage vendor payments and lower processing costs, Zip is a great option. This AI-powered procurement orchestration platform streamlines the entire procurement process, from procurement intake to payment, and integrates with your existing technology stack. Some of its key features include automated PO creation, AI-driven invoice processing, and a global payments module that lowers processing costs. It also includes vendor portals and configurable approval workflows to help you control costs and improve financial visibility.

Another good option is Basware, a cloud-based purchase-to-pay solution that automates complex invoice processes and lowers costs. With features like true automation, global compliance capabilities, and seamless integration with over 250 ERPs, it offers 100% touchless invoice processing and actionable AP insights. This platform is particularly good for companies looking to expand their business without adding overhead costs.

For better security and visibility, Paymode-X offers AP automation with machine learning and OCR to accurately capture and extract invoice data. It also offers electronic payments with rebates, fraud prevention, and real-time tracking. This platform integrates with any GL via API, so you can easily integrate and get the most out of managing vendor payments.

Last, Stampli consolidates AP communication and workflow, with AI-driven automation and flexible payment options. With features like Stampli Direct Pay and Stampli Cards, it offers easy payment management and cashback rewards. Stampli is good for companies of all sizes, with scalability and detailed analytics to ensure accuracy and control over the entire invoice lifecycle.