SmartStream Transaction Lifecycle Management vs. Mitratech TAP Workflow Automation

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
SmartStream Transaction Lifecycle Management
Score 8.8 out of 10
N/A
UK company SmartStream offers a process automation option.N/A
Mitratech TAP Workflow Automation
Score 7.5 out of 10
N/A
TAP Workflow Automation is a business process automation solution, enabling clients to digitize any workflow. The solution aims to improve efficiency, productivity, standardization, and compliance, as well as drive cost savings and time-to-value. TAP's drag-and-drop UI lets users build and deploy workflows without coding or IT involvement. TAP's open API enables clients to integrate into existing tools to drive automation across the organization.N/A
Pricing
SmartStream Transaction Lifecycle ManagementMitratech TAP Workflow Automation
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
SmartStream Transaction Lifecycle ManagementMitratech TAP Workflow Automation
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
SmartStream Transaction Lifecycle ManagementMitratech TAP Workflow Automation
Top Pros
Top Cons
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SmartStream Transaction Lifecycle ManagementMitratech TAP Workflow Automation
Small Businesses
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Score 9.0 out of 10
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Score 9.0 out of 10
Medium-sized Companies
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Enterprises
Redwood RunMyJobs
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Score 9.3 out of 10
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Score 9.3 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
SmartStream Transaction Lifecycle ManagementMitratech TAP Workflow Automation
Likelihood to Recommend
8.0
(1 ratings)
7.3
(2 ratings)
Ease of integration
-
(0 ratings)
5.5
(2 ratings)
User Testimonials
SmartStream Transaction Lifecycle ManagementMitratech TAP Workflow Automation
Likelihood to Recommend
SmartStream Technologies
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.
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Mitratech
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.
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Pros
SmartStream Technologies
  • Matching Rules are easy to implement
  • Dashboards are user friendly and customizable
  • Supports multiple file formats for easy data ingestion
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Mitratech
  • Creating a user community and sharing knowledge of automation best practices.
  • Easy to use form and workflow builder.
  • Responsive and knowledgeable technical team.
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Cons
SmartStream Technologies
  • Data Archival
  • AI and Machine Learning for better match rate
  • Better reporting capabilities
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Mitratech
  • 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.
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Alternatives Considered
SmartStream Technologies
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
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Mitratech
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.
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Return on Investment
SmartStream Technologies
  • Recons completed within SLA's
  • Improved match rates
  • User friendly dashboards
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Mitratech
  • 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.
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ScreenShots