13 key questions for your AP automation RFP

Choosing an automated accounts payable (AP) and disbursements platform can be a lengthy process without a proper plan in place. After assessing your readiness for AP automation, you can identify what area you want to automate first and begin to compare your vendor options. One way to evaluate your potential vendors is with a detailed Request for Proposal (RFP) to learn who best fits your unique business needs. Here are 13 essential questions to include in your RFP to help you choose your ideal AP automation vendor. 

1. How does your solution integrate with my existing ERP and accounting systems? 

Why is this important? Integration should be a consideration in any automation project. You want a solution that is compatible with your ERP, or an easy file upload process, to help prevent any implementation roadblocks and allow your data to seamlessly integrate across platforms.  

You may ask if there are any pre-built connectors or APIs for major ERP Systems. For instance, Deluxe Payment Exchange+ (DPX+) offers ERP integrations for multiple ERP systems, including QuickBooks, Sage, NetSuite and Dynamics.  

2. Can your platform handle the transaction volume and scalability that our company requires? 

Identify vendors that can best support your business not only today, but tomorrow. Can the automation solution scale efficiently or handle large volumes of transactions without affecting processing performance? Are there any transactions limits or upgrades needed to support additional growth?  

An AP automation solution that is flexible and can accommodate your business growth is essential to your success. With DPX+, the tier-based subscription model means that the solution can support businesses who make anywhere from 250-10,000 payments per month.  

3. What security measures are in place to help ensure data security and compliance?

Ensure your payment provider platform is compliant with privacy laws and regulations. Your AP automation vendor should be ready to discuss their encryption standards, data access controls and how their solution meets these requirements.  

DPX+ helps maintain security compliance with OFAC screenings, HITRUST and AICPA SOC-2 certification, and built-in PCI and NACHA regulation standards. 

4. How does your solution address fraud detection and prevention?

Does the solution offer multi-factor authentication or separation of approvals? Assess how these capabilities can help keep payables secure. DPX+, for example, offers a multi-layered screening process managed by a dedicated fraud team to validate payment requests and account verification services to validate account ownership.  

5. What reporting and analytics features are included?

Empower your business decisions with access to real-time data and custom reports. With DPX+, you can understand how your payees are getting paid and when with improved payment visibility. The solution’s customizable payer portal also has a reconciliation feature, so you know the status of your payment.  

6. Does your platform support multiple payment methods? 

You want to choose a vendor who supports many payment methods to give your payees a variety of options and a way to manage changes to those options themselves. DPX+ supports ACH, virtual card, eCheck, paper check, direct-to-debit and early payment options within its platform.

7. What are some key implementation and onboarding steps?

When it comes to implementing a new payment solution, you want to choose a vendor that has a clear roadmap to follow. Ask your potential vendors to provide more information on what those steps look like so your company can understand the timeline of implementation. You can also reach out for more information, including any potential development resources needed to understand what the changes will mean for your AP team. 

8. Can this solution accommodate approval hierarchies?

Businesses may opt to use a solution that provides different levels of approval or a variety of employees to approve to help reduce the risk of fraud or manual errors. DPX+ offers customers dual approval options, separation of duties and customizable user access. In this scenario, each account administrator can pick and manage user access to view, access and release invoices.  

9. After implementation, are there any ongoing support services available?

It’s important to ask this question to understand how the solution will affect your business operations beginning on Day One. The DPX+ implementation process, for example, features a fully dedicated implementation team that works closely with the client all the way through sending their first payments. Once launched, DPX+ customers have access to a U.S.-based customer support team, by phone or email, for on-going support and troubleshooting.  

10. What training resources are available for our team?

Communicating change effectively to your AP team and preparing them to implement a new solution is your priority. The DPX+ payer portal offers resources to answer any questions the user may have, including related content materials such as user guides. Initial training with the DPX+ implementation team aims to help customers become proficient with the platform during onboarding.  

11. How does your pricing structure work? 

These questions will help you be more aware of any hidden or additional fees that may occur as your volume grows. Be aware of additional fees for cancellation or adjustments. Request a clear breakdown of the solution’s cost, including set up fees. 

12. Can you provide references or case studies from clients in similar industries? 

Case studies and client testimonials help offer insight into how an automation solution performs in real-world situations.  

13. How frequently is the platform updated and are there additional costs for upgrades?

It’s helpful to learn how or if upgrades to your solution platform will affect your business operations, and if those upgrades have an additional cost. An efficient solution will continue to upgrade its processes to grow and improve with the latest technology available. With the DPX+ platform, upgrades are made at no additional cost during off-hours to avoid any impact on clients.  

Choose the right vendor for your business needs 

Your choice of AP automation can help save your business time, money and valuable resources. With these 13 key questions, your business can gain a comprehensive view of each vendor’s capabilities to help pick the best solution to fit your unique requirements.