SmartStream Transaction Lifecycle Management vs. Mitratech TAP Workflow Automation

TLM will be well suited for an organization's recon requirements. If the organization is able to afford the software, it will be worth investing the amount. The support for heterogeneous file formats is one of the key features. It can accept swift and flat files. The config screens for ingesting the data are very user-friendly. Overall the time taken for setting up a new recon is very less. TLM can be improved if they bring in some AI/ML algorithms for improved match rates.

Incentivized

From my few months of using the tool, I believe the tool would be best suited for Legal Ops (Contracting) & Procurement. Maybe even in competitive bidding (strategic sourcing: eg RFP & RFX). The tool may be less appropriate for Payment Processing/Collecting.

Incentivized

• Matching Rules are easy to implement
• Dashboards are user friendly and customizable
• Supports multiple file formats for easy data ingestion

Incentivized

• Creating a user community and sharing knowledge of automation best practices.
• Easy to use form and workflow builder.
• Responsive and knowledgeable technical team.

Incentivized

• Data Archival
• AI and Machine Learning for better match rate
• Better reporting capabilities

Incentivized

• Adding form fields can be quite tedious as it has to be added to every stage/relationship.
• It's difficult to remember where a certain condition/formula sits.
• I wish the workflow itself can be exported for presentation/demo/documentation purposes.
• I wish there was a way for more than one admin to configure the tool at the same time.

Incentivized

Excel was used as a traditional recon tool using macros for matching. There is no room to scale up the recons using excel. The recons are cumbersome and take a lot of time to complete. There are more chances of manual errors. No UI to create a good user experience. Overall all negatives compared to TLM

Incentivized

Autodesk selected TAP because of its ability to handle more complex workflows. We vetted a lot of "light" automation solutions but wanted a tool that was flexible enough to handle our more extensive use cases.

Incentivized

• Recons completed within SLA's
• Improved match rates
• User friendly dashboards

Incentivized

• Required fields force robust disclosure information up front.
• Workday integration enables pre-population of fields which reduces manual entry and saves compliance time.
• Emails, communications, and disclosure decision memos and stored in a centralized database which helps our team keep compliant records.
• Automated reminders have led to less ‘chasing’ by compliance.
• Improved UX has encouraged and increased disclosures, mitigating our company's risk.

Incentivized