Connect your ERP with Paymode-X via API to sync data automatically.
With Paymode-X, you can digitize every step of the invoice and payments process. Or you can digitize just one part. It's your choice.
Our AP automation software helps you reduce fraud risk by putting invoice and payments processing online in one secure portal.
Plus, when you automate your vendor payments, you'll sleep easier at night because your vendors will be fully validated and authenticated before you ever make a payment.
Process invoices with advanced tech
Paymode-X speeds up invoicing and makes it far more accurate. It captures invoices from any source, and uses cutting-edge machine learning, AI and OCR to extract all the necessary invoice data. You'll even be alerted to any mismatched data synced from your ERP.
Issue payments and track rebates online in Paymode-X.
Vendors can easily track their payments online in Paymode-X, too. They even get rich remittance data to help streamline their accounts receivable.
Paymode-X uses more than 300 data points to validate vendors and make sure they are who they claim to be - and are not on any blacklists. These fraud prevention steps occur before you’ll make a single virtual card or Premium ACH payment over our network.
Plus, whenever a request is made to change bank account information, these validations - including IP location and type, device being used, and other digital identity variables - are repeated in full.
Because the Paymode-X network is more than 550,000 businesses strong, it’s likely that at least half of your vendors are already getting paid through Paymode-X already. That means it will take no time for them to add you as a payer, as soon as you are ready to launch.
Plus, we'll handle enrollment for any vendors not already using Paymode-X.
Keep tabs on your spend
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:
Track invoices and payments at-a-glance from your Paymode-X dashboard.
Paymode-X can integrate with any GL. Pick the method that works best for you.
Should you need it, we also offer standard file transmission for automated secure delivery. Just set it up once and you’re ready to go.
If you're just starting to explore it, accounts payable automation is a time-and-cost-saving method of streamlining and securing traditional paper-heavy, manual AP processes. Essentially, you are able to use AP automation to digitize everything from invoice receipt and processing to supplier payments, taking traditional challenges and weaknesses for your business and turning them into strengths.
The cost of inefficiency and paper continues to rise, and the risks posed by late payments and payment fraud have never been higher. Automation is critically important because it saves time, saves money, helps reduce the risk of fraud and has major impacts in terms of efficiency.
We offer multiple layers of technology, expertise, and tactics to shut out fraud. These range from vendor authentication to stopping business email compromise and insider fraud. That’s how we’ve manage to operate a zero fraud payments network, and it’s how we ensure both payers and suppliers are protected from bad actors when making and receiving both invoices and payments.
To learn more, check out our Paymode-X security executive brief.
Paymode-X is successfully used across all industries (550,000 businesses cut across a lot!) and can integrate with any ERP.
We have had great success automating accounts payable for the industries we list above, but our deep experience and the versatility of our solution makes us a good fit for virtually any business.
The short answer is: Every kind you can think of. We serve mid-market to enterprise-level businesses and banks with our solutions, and we've worked with some of the largest companies in the United States.
To learn more about some of our customers, visit our Resource Center and check out our customer success stories.
The exact timeframe will depend on your business needs and stakeholders, but it is possible that we can get you up and running with payments in just over a month and both invoicing and payments in less than 60 days.
We focus on the benefits of automation for both your company and your valued suppliers, ensuring both parties realize efficiency, cost-saving and fraud prevention gains. We also strive to offer best-in-class rebate potential on electronic payments.
Here are 10 ways we provide your business more value than competitors can.
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