Cut Invoice Processing Costs and Time by 75%
With Paymode-X, digitize invoice receipt, matching, coding and approvals – all in one place.
Join the companies winning with Paymode-X invoice automation
Eliminate manual data entry and invoice errors
Invoices are captured electronically and matched automatically to their associated purchase orders. Exceptions are flagged for your review.
Receive and ingest invoices from mail, email, self-scanning or any other source. Paymode-X then uses AI, machine learning and OCR to automatically extract header and line-item info.
- PO-based invoices
Paymode-X automatically matches to PO and allows straight-through processing. Invoices that don’t match are flagged as exceptions, so you can act on them fast.
- Non-PO-based invoices
Data, such as invoice number, date, subtotal, tax total and other header/line item info is populated for your review and approval.
Paymode-X validates invoice data against your ERP, to ensure accuracy and identify exceptions.
Stay up-to-date on all invoice approvals
Use trackable and configurable approval workflows
Route invoices to a chain of reviewers or send them to a set of approvers and allow just one to give their okay.
View the invoice approval chain and who has yet to act. Also, see any invoice notes, supporting documents and audit trails.
Reviewers can approve invoices directly from an email notification or within the Paymode-X portal.
View invoices due dates and any early payment discounts
Keep tabs on invoice volume and where you stand
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:
- Accrual reporting at both summary and detail level
- Monthly invoice volume
- Processing time
Hear why customers love Paymode-X invoice automation
“Every time an invoice comes through, it will automatically get checked against a purchase order, giving us full control over the entire process. It will reduce our invoice processing times even further to around five or six minutes. That’s basically the pinnacle of efficiency.” Michael Bulnanan | Senior Business Analyst | Guild Group
“Faster payments, mobile, and integration. Mobile capabilities are critical for our AP strategy, especially for executives who travel often and require the ability to easily access, review and approve invoices right from their phones.” Kim Hughes | VP and Controller | Taubman
“Rather than printing and scanning invoices, we now have an entirely digital solution that is more convenient and much faster.” Christopher Smith, Sr. | Business Analyst and Delivery Lead | Finance Systems
Protect your invoice processing with multi-layered security features
Paymode-X secures your invoice processing in several ways:
- Layered multi-factor authentication and device fingerprinting technology to ensure your account isn’t compromised
- Invoice risk scoring process using custom business rules and supervised machine learning to identify potentially fraudulent invoices
- Full invoice audit history that displays every activity, status update and user comments
Paymode-X will alert you to potentially fraudulent invoices, through its built-in invoice risk scoring.
Integrate seamlessly with your ERP
Paymode-X integrates with any ERP or accounting system, so you can keep your system of record. All your critical invoice data flows bi-directionally between your ERP and
Paymode-X, giving you the context you need to approve and pay invoices.
Paymode-X integrates with the top ERPs across Healthcare, Higher Education, Manufacturing, Construction and other industries.
Challenges:
Servicing pharmacists, Guild Group manages thousands of invoices every year that needed to be collated, analyzed, processed, and stored.
Solution:
Integrated Paymode-X invoice automation with their Microsoft Dynamics 365 ERP, automating the entire invoice process.
Results:
- AP worked within their familiar Dynamics 365 workspace to manage and approve invoices
- Invoice capture became fully electronic
- Shaved invoice processing time by 70%
