(San Francisco, CA) Javelin Strategy & Research today released its inaugural 2024 Commercial ePayables Scorecard, which evaluates and ranks 10 leading third-party ePayables platforms on criteria across four categories: supplier enablement, cross-border transactions, infrastructure and architecture, and ledger and back-office integration. Top performers in the scorecard achieve an appropriate balance across these categories, helping enterprises optimize working capital and improve financial operations through the implementation of their platforms.
Bottomline won the Best in Class designation with the most comprehensive commercial ePayables offering, scoring highly across all categories. Bottomline is also the leader in the Supplier Enablement category, with an impressive offering for vendor onboarding and ongoing supplier engagement.
Finishing as Overall Leaders are Boost Payment Solutions and Volante Technologies, which have solid ratings in all categories. Boost excelled in the Cross-Border category with its cutting-edge approach, and Volante distinguished itself with an ISO 20022-fluent offering featuring more than 700 APIs for bank connectivity.
Javelin recommends that firms choose a commercial ePayables platform with robust supplier enablement. The scorecard finds efficient supplier onboarding is the foundation of success for commercial ePayables solutions. Supplier enablement provides smooth payment processes that foster positive relationships between businesses and their suppliers. To optimize supplier enablement, companies must adopt tools and technologies that facilitate seamless communication, reduce onboarding time, and provide flexibility in payment options. Javelin finds one of the most significant benefits of commercial ePayables is the automation and streamlining of the entire accounts payable process.
“Commercial enterprises are looking for automation and streamlining of the entire accounts payable process,” said Albert Bodine, Director of Commercial & Enterprise at Javelin Strategy & Research. “With ePayables platforms, manual tasks such as data entry, check printing, and mailing are eliminated, reducing administrative overhead and freeing up valuable time for the AP staff to focus on more strategic tasks. Automation also helps standardize payment processes, ensuring that all payments are handled consistently and in compliance with company policies.”
For more information about the 2024 Commercial ePayables Scorecard, please visit javelinstrategy.com.
About Javelin Strategy & Research
Javelin Strategy & Research, part of the Escalent Group, helps its clients make informed decisions in a digital financial world. It provides strategic insights to financial institutions including banks, credit unions, brokerages and insurers, as well as payments companies, technology providers, fintechs and government agencies. Javelin’s independent insights result from a rigorous research process that assesses consumers, businesses, providers, and the transactions ecosystem. It conducts in-depth primary research studies to pinpoint dynamic risks and opportunities in digital banking, payments, fraud & security, lending, and wealth management. Learn more at javelinstrategy.com.
