Where is Your Time (Unnecessarily) Going?

Spending hours manually keying in invoice data

Correcting mistakes caused by human error during data entry

Validating each invoice by hand

Emailing or physically bringing invoices to reviewers for approval

Finding data siloed across diverse systems for budgeting, forecasting, assessing spend liability, tracking spending patterns, etc.

Deciding which of dozens or hundreds of invoices are the most urgent or important

Collecting vendor contact information and banking data

Checking invoices for errors, issues, or fraud

Filing or finding documents in physical storage

Establishing clear audit trails

Responding to supplier status requests

Paying suppliers by check (average cycle time: 3 weeks)

Automate invoice data capture and GL coding

Eliminate human error through data scanning and payment processing

Employ artificial intelligence and machine learning to perform 2-and-3-way matching for PO-based invoices

Route invoices electronically to the appropriate people for approval

Gain visibility and accessibility of real-time data from a single source of truth, convenient dashboards, and a library of reports

Receive alerts about which invoices require priority handling based on your business requirements and custom preferences

Outsource vendor onboarding, bank data collection, and ongoing data validation and fraud prevention

Use machine learning to detect anomalies in dollar amount, timing, or frequency based on historic data and flag for inspection

Leverage electronic imaging and archive capabilities ensures that digital copies are easily accessible to authorized staff

Link invoices digitally to related documents such as POs, check copies, proof of delivery, and remittance advices

Provide complete transparency and on-demand access into payment status through an online vendor portal

Convert check payments to ACH or virtual card payments brings average cycle time to 3 days