New product will manage the vendor lifecycle from onboarding to renewal, with portal-free vendor onboarding, validating bank account changes before approval and track contract terms, all inside the ERP
Charted, a leading provider of ERP-native AP automation software, announced the launch of its newest product, Vendor Automation, bringing together the entire vendor management process under one product to live natively in your ERP. Accounts payable teams will be able to onboard vendors with one click through secure forms, validate bank account changes before they go to a reviewer and track vendor contract terms before renewals happen automatically.
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Vendor Automation brings together Advanced Vendor Onboarding, Contract Intelligence and Vendor Fraud Prevention as an interconnected set of features designed to onboard vendors cleanly and efficiently, review bank account information for discrepancies before payments occur and proactively manage contracts. All vendor documentation is kept in the customer’s ERP instance, on one trusted vendor record that is always audit-ready. This suite of features is designed to add an additional layer of security to the accounts payable process, preventing fraudulent activity through business email compromise and vendor fraud, which now claim over $3 billion in losses according to the FBI Internet Crime Report 2025.
“Finance teams already run their vendors, payments and bills through their ERP, and we want to provide them with workflows that put security at the forefront,” said Bernardo Enciso, CEO and Founder of Charted. “Keeping detailed vendor records meant contracts should live there too, so organizations can gain insights into their renewals before they get billed. Delivering a product that finance teams can trust, that make audits easier, that deliver on efficiency while improving security is central to the aims of Charted.”
Benefits of Vendor Automation include:
- Catch vendor fraud before a payment is made. Bank account information submitted by a vendor, new or updated, is checked for a matching routing number, account numbers, and account names, before a reviewer approves the change.
- Stop autorenewals before prices increase. Contract Intelligence AI extracts term dates, auto-renewal language, and notice periods from vendor contracts, and alerts are sent while organizations still have time to renegotiate or cancel.
- Support Nacha fraud monitoring requirements. Payment originators are expected to increase their risk-based fraud monitoring practices as of June, 2026. Charted Vendor Fraud Prevention helps organizations strengthen their fraud prevention process with this new requirement.
- Onboard vendors with one-click. Vendors are invited to submit their own tax, banking and compliance details through forms sent with a single click from your instance, avoiding external portals or passwords.
- Complete financial records in your ERP. Contracts, banking details, compliance documents, purchase orders, bills, and payments all live on the same vendor record.
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