Time waster

paymode_assets-185.pngSpending hours manually keying in invoice data

paymode_assets-185.pngCorrecting mistakes caused by human error during data entry

paymode_assets-185.pngValidating each invoice by hand

paymode_assets-185.pngEmailing or physically bringing invoices to reviewers for approval

paymode_assets-185.pngFinding data siloed across diverse systems for budgeting, forecasting, assessing spend liability, tracking spending patterns, etc.

paymode_assets-185.pngDeciding which of dozens or hundreds of invoices are the most urgent or important

paymode_assets-185.pngCollecting vendor contact information and banking data

paymode_assets-185.pngChecking invoices for errors, issues, or fraud

paymode_assets-185.pngFiling or finding documents in physical storage

paymode_assets-185.pngEstablishing clear audit trails

paymode_assets-185.pngResponding to supplier status requests

paymode_assets-185.pngPaying suppliers by check (average cycle time: 3 weeks)

Time saver

paymode_assets-183.pngAutomate invoice data capture and GL coding

paymode_assets-183.pngEliminate human error through data scanning and payment processing

paymode_assets-183.pngEmploy artificial intelligence and machine learning to perform 2-and-3-way matching for PO-based invoices

paymode_assets-183.pngRoute invoices electronically to the appropriate people for approval

paymode_assets-183.pngGain visibility and accessibility of real-time data from a single source of truth, convenient dashboards, and a library of reports

paymode_assets-183.pngReceive alerts about which invoices require priority handling based on your business requirements and custom preferences

paymode_assets-183.pngOutsource vendor onboarding, bank data collection, and ongoing data validation and fraud prevention

paymode_assets-183.pngUse machine learning to detect anomalies in dollar amount, timing, or frequency based on historic data and flag for inspection

paymode_assets-183.pngLeverage electronic imaging and archive capabilities ensures that digital copies are easily accessible to authorized staff

paymode_assets-183.pngLink invoices digitally to related documents such as POs, check copies, proof of delivery, and remittance advices

paymode_assets-183.pngProvide complete transparency and on-demand access into payment status through an online vendor portal

paymode_assets-183.pngConvert check payments to ACH or virtual card payments brings average cycle time to 3 days


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