How can Paymode-X help you clear AP obstacles?
If your business is like most, some or all of your AP is outdated and uses paper-based invoice workflow, approval and payment processes. This can expose businesses to unnecessary costs, inefficiencies and payment fraud risk.
Discover how to improve your AP performance:
Accelerate Invoice Processing
Digitize and automate invoice processing from receipt through capture, matching, coding and approvals
Automate and Streamline Payments
Increase efficiency and earn rebates on AP spend by converting to virtual card and ACH payments in a single platform
Secure AP Processes
Maximize visibility, control, and security by transforming manual tasks into auditable, fraud-resistant workflows
Complete invoice-to-pay automation
Paymode-X solves for traditional challenges and helps AP departments maximize efficiency, visibility, and security by automating the entire invoice-to-pay process. Streamline invoice receipt, automate workflows, accelerate approvals, and make all payment types (virtual card, Premium ACH, Basic ACH, check, and B2C) using a single solution that integrates seamlessly with your ERP of choice.
Comprised of an Invoice Automation module and an Integrated Payables module, Paymode-X offers your organization the opportunity to automate your entire AP process from end-to-end, or focus on the invoice or payment processes standalone. Many organizations rely on Paymode-X to maintain business continuity, as AP operations increasingly transition to remote work and digital invoice and payment processes.
Paymode-X Invoice Automation enables your AP department to overcome the cost, time, risk and errors associated with paper invoices and manual processes. Easily digitize and automate the invoice lifecycle starting at the time of receipt through capture, matching, coding and approvals in conjunction with digitizing your payments.
Eliminate paper invoices and manual processes
Reduce costs, errors and risk
Integrate seamlessly with your ERP
Approve invoices on-the-go
Captures and stores invoices
Receive and efficiently process paper and electronic invoices from any source. Advanced data extraction, OCR, machine learning, and real-time validation automatically captures invoice information to minimize manual data entry. PO-flip lets your vendors seamlessly convert presented PO’s into invoices via the Paymode-X vendor portal. Optional managed services for invoice receipt and pre-processing. Invoices and supporting documents are accessible within and external to your ERP.
“Approval turnaround time has dropped from an average of 18 days to sometimes just a few hours… And we’ve increased early payment discounts by six percent.”
- Stillwater Mining
Automates workflows and approvals
Accelerate processing with automated 2-and-3 way PO header and line-item matching with exception handling and approval routing. In addition, automate GL code entry and approval routing for non-PO invoices. Flexible rules for approval workflows with notification, reminders, and escalation are easily maintained by business users. PO-flip further drives match automation. Mobile access makes it easy for users to review and approve assigned tasks while traveling or in the field.
With Paymode-X Invoice Automation, your AP department will streamline workflows, enhance governance, and get operational visibility around PO and non-PO invoice processing status. Invoice risk scoring uses custom business rules plus supervised machine learning to help identify unusual and potentially fraudulent invoices. Gain valuable insights with interactive dashboards, real-time reporting, and a complete audit trail for all activities, status updates, user comments, and rule changes.
Paymode-X Integrated Payables can provide 100% day one payment automation, enabling your AP department to maximize efficiency, reduce fraud risk, and drive AP revenue. Easily make any type of payment using a single solution that integrates seamlessly with your ERP.
Maximize efficiency by converting to electronic payments
Reduce payment processing costs
Reduce payment fraud risk
Streamlined processing of all payments to vendors and consumers
According to the Association of Finance Professional, 74% of businesses experiencing payment fraud suffered from check fraud.
Network payment scoring provides an at-a-glance risk assessment to enhance visibility and evaluate the security of each payment before you make it. It is easier than ever to maximize rebates, thanks to revenue share available on both virtual card and Premium ACH transactions.
Paymode-X draws on the power of a 450,000+ member network of businesses already accepting electronic payments.
This established network, combined with comprehensive Vendor onboarding services, helps ensure your business can accelerate payables optimization. Paymode-X teams will manage and execute dedicated campaigns to your Vendor community, which includes gathering and authenticating Vendor details and banking information.
Vendors can easily sign up online to accept virtual card and ACH payments, and Intelligent Payment Optimization will ensure that your transactions are always settled using the lowest cost/highest return payment type for each trading relationship. Your Vendors will benefit from detailed electronic remittance information in their preferred format and other valuable Accounts Receivable tools.
“Between high levels of payment automation, the early payment discounts we capture and the cashback we get, AP is no longer viewed as a cost center.”
Jerry Johnson | Sr. Director of Finance | Daikin Applied Americas
Why choose Paymode-X?
Paymode-X integrates seamlessly with your ERP, resulting in unprecedented efficiencies, cost-savings, and ease of use.
By automating the entire invoice-topay-process, you can transform AP performance, free employees to focus on driving the business forward, and increase organizational value.
Make the decision today to partner with a global leader in business payments.
Achieve AP automation from invoice to payment in a single solution
Simple to use
Implement and use easily with your ERP and existing bank accounts
Accelerated vendor adoption
Access a 450,000+ member network and Vendor onboarding services
Mitigate fraud with Vendor bank authentication, MFA, invoice, payment risk scoring and more
Flexible integration options with your ERP
Paymode-X integrates seamlessly with any ERP and offers several options to make your AP automation solution implementation simple and secure. Choose the implementation approach that makes the most sense for your business.
Schedule or on-demand synchronization of invoice and payment data to and from your ERP using a pre-built connector.
Manually upload a simple, standardized payment file format using the Paymode-X portal.
Automate file delivery of invoice and payment data in the format your business utilizes with a one-time setup of your secure transmission process.
Automate invoice and payment data synchronization leveraging published unified APIs to connect your ERP with Paymode-X using the developer portal.
Taubman Transforms Manual Accounts Payable Process and Earns Rebates with End-to-End AP Automation
Discover how Paymode-X helped Taubman seamlessly consolidate its AP function, reallocated staff to value-add projects and implemented mobile technology to have executives approve invoices, from wherever they are.
Read the full success story or watch the video to learn more.
Digitize the invoice-to-pay process to realize cost-savings, efficiency gains, enhanced security and new rebate opportunities.
Streamline your AR processes with electronic payments, detailed remittance information and valuable accounts receivable tools.
Partner with us
Provide your clients with an innovative business payments solution to deepen customer loyalty and satisfaction.
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