by Debra R. Richardson, MBA, APM, APPM, CPRS
Calculating a rock-solid return on investment (ROI) for an accounts payable (AP) vendor self-registration portal project can be daunting. First you need to calculate the total costs (investment). The total costs need to include implementation costs, plus annual subscription/licensing, maintenance and support costs. Your potential supplier can assist with identifying these costs.
Next, you need to calculate your total savings (benefit) that will be unique to your company. To make sure you capture all costs, talk to all stakeholders in the procure-to-pay process and identify their time to include in the savings costs. These stakeholders can include accounts payable, procurement, IT and large groups that submit vendor requests.
Here is an example of items used to calculate savings for a Vendor Supplier portal to automate the vendor setup process: