The tool is meant to provide for complete automation of P2P and vendor invoice management and payment processes. The InvoiceAnywhere 4.0 automates each step of the procure-to-pay process, including creation, approval and issuance of PO’s, and vendor invoice management processes from the receipt of invoices to payments for those invoices.
The system integrates with all ERP systems and provides real-time visibility to facilitate operational efficiencies and corporate cash management decision. Integrated with various payment gateways, ExpenseAnywhere Pay Service makes payments to suppliers around the globe in their country-specific currencies.
The InvoiceAnywhere 4.0 utilizes technology based on pattern recognition algorithms, machine learning, and artificial intelligence to convert vendor submitted paper invoices, received via mail, email, fax or direct uploads, into “digital invoices.” The solution automatically performs 2/3/4- way matching of invoices with the PO data, highlighting exceptions, and providing for credit memos, approvals, settlement, and early payment features.
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