APAY Wins Most Innovative AP Automation Solution - ACMO
2 min read
The results of Corporate Vision’s sixth annual Technology Innovator Awards have been finalised and ACMO has been awarded: Most Innovative Accounts Payable Automation Solution: APAY
Official results were published in June 2021 in the Technology Innovator Awards annual magazine, a digital magazine for business leaders and experts worldwide.
About APAY – How our Innovative Accounts Payable Automation benefits your business
APAY is a cloud-based AP Automation solution that provides a highly automated, cost-effective process while being in full control of your invoices. The solution captures and transforms the invoice information, with little or no human intervention, and integrates with all leading ERPs and Business Applications.
ACMO offers an unparalleled Accounts Payable solution built on our Intelligent Automation and Cognitive Data Capture platform. The inbuilt Fraud Detection and Business Rules Engine apply best practices in invoice processing and interfaces with external sources to ensure any fraudulent transactions are flagged for the user’s attention. With an intuitive web-based user interface, exceptions are easily reviewed, fixed, and routed for approval. No more missed invoices or deadlines, allowing our customers to re-negotiate terms with their suppliers for early-payment discounts.
DIGITAL TRANSFORMATION
By utilising the APAY framework for solutions, organisations of all sizes can effectively implement AP automation and move to a seamless AP digital transformation.
REDUCTION IN ERROR RATES
The ability to eliminate human errors and reduce manual work leads organisations to spend less time processing invoices than companies using paper-based processes.
MOBILITY WITH ROO
Review and Action Invoices on the go with our Mobile App (iOS/Android). Scan and submit receipts & invoices and have them sent to the right department.
MORE TIME TO FOCUS
APAY’s higher rates of straight-through processing enable staff to focus more on strategic initiatives by removing time-consuming tasks such as manual data entry.
MACHINE LEARNING
Our invoice processing solution uses machine learning capabilities to recognise existing supplier invoice formats as well as learn new formats to improve extraction results as you start processing invoices.
BUSINESS RULES ENGINE
With the inbuilt Business Rules Engine,
the APAY solution ensures that all processed invoices have their data extracted in the correct format and satisfy various compliance requirements.
FRAUD DETECTION ENGINE
The Fraud Detection Engine is one of the core modules in the APAY solution that applies industry best practices to detect and flag suspicious invoices. The FDE module performs all necessary due diligence checks for each invoice, saving time, and potential losses.
E-INVOICE ENABLED
APAY is a Peppol e-invoice enabled solution that allows our customers to receive
e-invoices and run them through the Business Rules Engine before entering the system.
NEAR REAL-TIME VISIBILITY INTO TRANSACTIONS & CASH FLOW
The AP team can easily track and monitor
the progress and status of invoices, reducing delays in processing and approvals.
BETTER VENDOR EXPERIENCE
Vendors can monitor the status of invoices payment, reducing the number of inquiries
sent to the AP department.
ERP INTEGRATION
APAY will integrate with the following ERPs
- TechnolgyOne Financials
- CIVICA Authority
- Microsoft Dynamics AX
- Microsoft Dynamics 365
- SAP
- Oracle Netsuite
Read about ACMO helps lead Peppol eInvoicing with APAY
For further information
Please speak with our friendly sales consultants or book a meeting with us today.
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