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iPayables accounts payable automation has enterprise-grade solutions that serve to increase productivity and efficiency in your department and company, while allowing you to maintain control over the accounts payable process. Listed below are six of our solutions that allow you to focus more on higher-level tasks, and less on the manual efforts that come with a paper-based department.
With iPayables InvoiceWorks®, receiving invoices is simpler. Depending on where you and your suppliers are at currently, you can receive invoices via the supplier portal, file upload, email, or paper. While receiving through the supplier portal is ideal, iPayables accounts payable automation solutions will help you with other forms of invoices as you and your suppliers continue to adapt to the preferred electronic formats.
Gone are the days of mismatched or duplicate invoices and unauthorized payments. With enterprise-grade accounts payable invoice automation solutions, purchase orders are delivered electronically to suppliers and with a simple click, is flipped to an invoice. Plus, both two- and three- way matching is almost instant, normally ready to pay the day after submitting the invoice. If you don’t need PO Matching, invoices are automatically routed to approvers, with no need for accounts payable to touch the invoice at all. For more information, visit our PO Flip/Match and AP Workflow pages.
iPayables simplifies the payment process, whether you want approved electronic invoices to be paid by your ERP or payables systems or if you want complete payment management. We provide a wide range of payment options, from ACH Transaction to MasterCard or American Express P-Card. Additionally, it’s easier than ever to manage and receive early pay discounts with dynamic discounting. For more information, visit our Payments and Dynamic Discounting pages.
With our supplier onboarding portal you can select W-9, certificates of insurance, and any other documentation you need from a new supplier. iPayables validates the supplier Federal Employer Identification Number (FEIN), also known as the Federal Tax ID Number. After receiving that information, iPayables checks company name and ID against 33 databases, including the Office of Foreign Assets Control (OFAC), FBI Wanted Lists, INTERPOL Wanted, United Nations Consolidated, and IRS Exempt Organizations, to ensure legal compliance. Once iPayables has confirmed this information, the documentation is routed internally to be approved before becoming a part of your official Vendor, or Supplier, Master File.
With high-level reporting abilities, you can control the whole invoice process, from start to finish. At face-level, you see your general dashboards. These can be individualized for each member of your team, from cash management information for CFOs to “at-a-glance” invoices that need attention for users. Should you need to dig deeper for more information, you can view your standard reports. Standard reports help you to better understand the details presented in the dashboards. Then, because not everything is currently in your main viewing screens, AdHoc Reporting allows you to search any and all invoice data with your own criteria. These AdHoc reports allow for analytics and insights into the procure-to-pay process in order to benefit the whole company.
In addition to the competitive pricing structure of our advanced electronic invoicing system, what really excites our customers is the dramatic effect that a fully automated AP department has on the bottom line. Typically, for large organizations, countless hours and resources are spent on the tedious paper invoicing process. It is a process that can be somewhat chaotic and requires a high level of bureaucracy. With iPayables, you reduce effort in your department while gaining efficiency, visibility and fluidity.
Imagine the increased productivity in accounts payable if there is no data entry, no filing and no supplier phone calls. Imagine improved supplier relations and an approval process that minimizes potential pitfalls. Automated invoice processing through iPayables AP automation solutions can make that happen.