RFP Template for AP Automation

This template was developed to help organizations request all of the information from prospective solution providers that is needed to make a fully-informed decision. This template will make the creation of an AP automation RFP easier and more efficient, while providing important information and detailed questions to ensure that the right solution is selected. It will also help to bring more structure to the entire solution selection process.

The template will work with all types of ePayables (AP automation) tools: eInvoicing, scan and capture, workflow automation, payments processing and discounting, supplier networks and reporting capabilities. The template is flexible so that the user/team can customize the template to suit the organization's requirements. Below is a summary of the various sections included in the template:

  • RFP Introduction: Provides an overview of the project to the vendor, the goals and objectives of the RFP and the necessary confidentiality and non-disclosure agreements
  • Company Profile: Requests general information related to the company like history, description, financials, customers, etc
  • Technology: Helps teams better understand the different providers' platforms, architecture, integration capabilities, security features and more.
  • Functionality & Capabilities: This section requests detailed information on features, functionality and other capabilities that the solutions offer. Question included here cover the entire ePayables process (invoice receipt, invoice processing and invoice payment)
  • Services and Support: This section requests information regarding the different types of technical/functional/user support that is available, including training and deployment information.
  • Pricing: Requests pricing information from the vendors for both installed or cloud-based solutions
  • References: Requests client references from vendors

Each section contains user instructions and guidance.

If your organization is considering the automation of its accounts payable process(es), this tool will help any team develop a well-structured and robust RFP that will capture detailed and accurate responses from solution providers and help teams select the best-fit solution for the organization's needs and budget.

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