As my final blog post on payment and workforce solutions, I’d like to share insights gained from valuable vendor meetings on the HITEC 2025 show floor. These conversations offered practical perspectives on how to assess and plan for these types of applications. Below are some helpful hints to guide your own evaluation process.
Modern Payment Systems: What to Ask and What to Know
The primary goal of a modern payment system is simple: reduce the time and expense of processing invoice payments. That means cutting back on printing, signing, mailing checks, and managing the reconciliation of outstanding payments.
When evaluating solutions, keep these key questions in mind:
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Do individual vendor payments appear as separate entries on the bank account, or is there a lump debit for the full batch?
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Does the solution automate invoice posting through email or scanned images, including GL account assignment?
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How is the vendor compensated? Is there a rebate program tied to ghost card volume, or does the vendor retain all rewards and offer the service at no cost?
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Can the vendor handle international payments, or are there regional restrictions due to banking laws?
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Is their system fully integrated with your purchasing, AP, and GL software to support accurate reporting and reconciliation?
Where Vendor Solutions Come From
Solutions to automate accounts payable generally come from three sources:
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ERP Vendors – Your current ERP may have a preferred payments partner with integrated features.
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Procure-to-Pay Vendors (P2P) – Purchasing vendors may bundle payments functionality with inventory features.
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Third-party Payment Vendors – These can often work with your existing systems but may lack full integration points.
Workforce Solutions: Matching Tools to Organizational Needs
In a HFTP.