Accounts Payable Automation
Maximize efficiency, visibility and security by automating the entire invoice-to-pay process with Paymode-X.
Cloud-based AP automation solutions give you the scalability, flexibility, and economy you need, both now and as your business expands.
From automated routing to fraud prevention, artificial intelligence, and machine learning continually improve at streamlining your AP processes, allowing you to allocate your resources to more strategic tasks.
Best-in-class accounts payable automation solutions enable tight integration with back-end systems without expensive customization and re-training of AP staff or buying additional ERP user licenses.
By matching invoices to legitimate purchase orders, automation reduces the number of invoices that require manual handling. Plus, digitizing the invoice-to-pay process enables you to avoid errors and reclaim the time you would otherwise spend correcting them.
Paying your suppliers by ACH and virtual cards enables you to improve AP efficiencies, mitigate risk, earn cash-back rebates on AP spend, and better manage cash by choosing when and how to make your payments.
Artificial intelligence and machine learning can detect anomalies in invoice data, amount, timing, or frequency based on historical records and flag those invoices for inspection.
Automation provides complete visibility at every step of AP process. This allows for better decision-making, faster exception handling, improved dispute resolution, and the ability to swiftly respond to supplier inquiries about payment status.
Solid AP automation solutions strengthen the buyer/supplier relationship by delivering complete remittance data for matching, reconciliation, cash flow forecasting, and payment timing.
All users – whether in your own AP, treasury, or procurement departments or in your suppliers’ accounts receivable (AR) departments – should be able to work more efficiently and effectively thanks to easier processes and better user interfaces.
Automated electronic imaging and archive capabilities ensure that invoices are easily accessible to all authorized staff. Invoices can be digitally linked to related documents, supporting approval workflows as well as audit and compliance reporting.
A best-in-class accounts payable automation solution with the above ten attributes enables you to accelerate workflows, save money, make payments strategically, strengthen supplier relationships, and allocate resources more effectively. All of those aspects mitigate inflation, helping sustain your business and positioning you for an even stronger future.
Today’s high inflation is not welcome, but it is a normal fluctuation within the natural cycle of the economy. Read this eBook to see how accounts payable has the opportunity to counteract the impact of inflation by tightening up payment policies and procedures, taking advantage of digital payment options, capturing early discounts and cash rebates, and automating processes for greater efficiencies.
Inflation is hitting accounts payable (AP) departments hard. It is impacting how AP makes payments to suppliers and, in some cases, when and whether payments can be made at all. Transaction sizes have increased, so even a brief delay in payment can have significant consequences. Read this guide to get seven ways AP can deflate ballooning inflation.
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