Reimagine Invoice Processing
With Paymode-X, digitize invoice receipt, matching, coding and approvals – all in one place.
Paymode-X validates invoice data against your ERP, to ensure accuracy and identify exceptions.
Eliminate invoice errors and manual data entry
AI, machine learning and OCR automatically extract header and line-item info from your invoices, whether they come via email, self- scanning or other sources. The data is automatically populated in the Paymode-X portal. Exceptions are flagged for your review.
- PO-based invoices
Paymode-X automatically matches to PO and allows straight-through processing. Invoices that don’t match are flagged as exceptions, so you can act on them fast.
- Non-PO-based invoices
Data, such as invoice number, date, subtotal, tax total and other header/line item info is populated for your review and approval.
Automate invoice approval routing
View the invoice approval chain and who has yet to act. Also, see any invoice notes, supporting documents and audit trails.
Reviewers can approve invoices directly from an email notification or within the Paymode-X portal.
Route invoices to a chain of reviewers or send them to a set of approvers and allow just one to give their okay.
Take advantage of early payment discounts
Keep track of every invoices on your dashboard. You can even see which invoices - and how many - qualify for early payment discounts. Plus, see all invoice statuses.
Track critical invoice metrics
Use the interactive analytics dashboards and real-time reporting to track invoice KPIs, like invoice matching statistics, invoice processing time and your vendor network on Paymode-X. You can also see:
- Accrual reporting at both summary and detail level
- Monthly invoice volume
- Processing time
“Every time an invoice comes through, it will automatically get checked against a purchase order, giving us full control over the entire process. It will reduce our invoice processing times even further to around five or six minutes. That’s basically the pinnacle of efficiency.” Michael Bulnanan | Senior Business Analyst | Guild Group
“Faster payments, mobile, and integration. Mobile capabilities are critical for our AP strategy, especially for executives who travel often and require the ability to easily access, review and approve invoices right from their phones.” Kim Hughes | VP and Controller | Taubman
“Rather than printing and scanning invoices, we now have an entirely digital solution that is more convenient and much faster.” Christopher Smith, Sr. | Business Analyst and Delivery Lead | Finance Systems
Protect your invoice processing with multi-layered security features
Paymode-X makes your invoice processing in several ways:
- Requiring multi-factor authentication and performfing device fingerprinting to ensure your account isn’t compromised
- Identifying potentially fraudulent invoices through risk scoring, custom business rules and supervised machine learning
- Displaying every activity, status upate and user comments to provide a full invoice audit history
Paymode-X will alert you to potentially fraudulent invoices, through its built-in invoice risk scoring.
Integrate seamlessly with your ERP
Paymode-X integrates with any ERP or accounting system, so you can keep your system of record. All your critical invoice data flows bi-directionally between your ERP and Paymode-X, giving you the context you need to approve and pay invoices.
Paymode-X integrates with the top ERPs across Healthcare, Higher Education, Manufacturing, Construction and other industries.
Guild Group reduced invoice processing time by 70%
Challenges:
Servicing pharmacists, Guild Group manages thousands of invoices every year that needed to be collated, analyzed, processed, and stored.
Solution:
Integrated Paymode-X invoice automation with their Microsoft Dynamics 365 ERP to automate their entire invoice process, from invoice capture to invoice approval.
Results:
- Shaved invoice processing time by 70%
- Fully digitized invoice capture
- AP worked within their familiar Dynamics 365 workspace to manage and approve invoices
Join the companies winning with Paymode-X
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