Here are the leading alternative solutions available from Tungsten Automation, formerly Kofax, Medius,Tipalti and ACMO to consider.
Intelligent Automation is a combination of technologies such as (BPM) Business Process Management, (IDP) Intelligent Document Processing, (RPA) Robotic Process Automation, (AI) Artificial Intelligence, including (ML) Machine Learning and Cognitive Capture.
AP Automation software converts your supplier invoices into a standard digital format and then processes the invoices through an intelligent digital workflow, Ready for payment and reconciliation.
AP automation uses advanced technologies such as optical character recognition (OCR) to extract information from invoices and artificial intelligence (AI) and machine learning (ML) to recognise patterns over time and improve accuracy for data extraction.
Customised business rules such as acceptable variances and approval workflows can also eliminate the need for manual interventions and provide the ultimate straight-through, touchless invoice processing.
Cloud-based invoice processing automation software automatically captures, understands, validates, and approves invoices from any source. Lower your costs and reduce invoice processing time. A proper multi-tenant SaaS solution, this vendor invoice management solution is monitored around the clock by a dedicated cloud operations team to ensure optimal performance and effortless handling of significant changes in document volumes.
Tungsten AP Agility is a full suite Accounts Payable automation solution
Giving you market-leading data capture capabilities and going far beyond basic OCR to capture a range of financial documents from any source, including several XML formats.
Includes out-of-the-box approval workflows based on best practices and pre-built ERP AP integrations.
Accelerate your digital workflow transformation journey, reduce costs, speed processes, improve quality, and strengthen internal controls with AP Agility.
What if you had an AP Automation platform that met all your needs and automated the entire source-to-pay process? We believe that true digital transformation is about working smarter across your organisation, from the front office to the back office, to grow revenues and profits. Use Medius to streamline your accounts payable and boost your cash flow visibility.
Medius has some of the best implementation times in the industry. Once deployed, you'll see an immediate ROI. You'll see your staff happier and more productive. You'll notice game-changing process efficiencies and literally see the difference in your monthly reporting.
This is all possible because:
Tomorrow's technology is always top of mind at Medius. We've got a dedicated research and development team whose sole responsibility is to evaluate, test, and develop experimental technologies, that you'll be using sooner rather than later. Over the past five years, a massive focus has been on artificial intelligence (AI) and machine learning (ML). The result is a truly innovative technology in our spend management solutions, designed to help you do your job that little bit easier.
For instance, Medius AP Automation features predictive coding, an AI-driven process that learns and accurately predicts outcomes based on your behaviour. Our technology gets smarter as it works with you more.
This dedication to the latest technology and our pioneering research and development process helps Medius stay ahead of the curve and deliver innovative spend management solutions.
Medius Connect is our cloud-based solution that brings our technology stack together with yours. It's secure and links any ERP or third-party system with any Medius solution. It works by using a library of pre-configured integrations we can deploy quickly.
All your data will be centralised, and unlike other best-of-breed spend management providers, you can always have confidence that you're paying for market-leading technology that actually does what it says it will do.
Automatic three-way matching allows your business to resolve discrepancies in invoices, POs, and receivables. You can safeguard your assets, avoid fraudulent invoices, and ensure you pay the correct amounts.
Our state-of-the-art data capture solution is native to Medius AP Automation and expertly pinpoints and extracts invoice data automatically. Our innovative 'touchless capture' technology is powered by clever AI that removes the guesswork. Original invoices are automatically archived in Medius' automated AP software to audit whenever you need them.
Utilising account payable solutions will allow you to broaden your insight into your business spending. Predefined reports, dashboards, and KPIs give you a complete view of how money is spent and help you better manage cash flow. The study captured and missed discounts, working capital, and more so you can tune operational performance.
Integrate Medius Accounts Payable Automation Tools with your organisation's ERP or accounting system and connect solutions across the procure-to-pay lifecycle. Out-of-the-box integration makes it easy for your IT team to onboard AP Workflow Automation, managing the systems and processes with a predictable timescale and resources set.
Integrate Medius AP Automation with Medius Pay for a simple, secure, and streamlined vendor payment process that allows you to pay all your domestic and international suppliers via a single channel.
Rapidly bring together your back-office and third-party systems using Medius Connect. Use out of the box connectors for major ERP systems means a rapid and predictable implementation.
Natively embedded capture means a single user interface to manage all invoices from initial input to final approval.
Seamless integration with our modular solutions and Medius Procurement ensures employees order the correct goods and services upfront and that invoices can be automatically matched without issue.
Using Tipalti cloud-based accounts payable solutions, you can automate at scale, turn documents and data into savings, create accounts payables resilience, and simplify your document management.
Free up your finance teams from the day-to-day inefficiencies of manual accounts payable and working with point systems. Tipalti delivers end to end payables solutions, purpose-built to handle the evolving needs of your business—with a focus on scale, efficiency, controls, and visibility.
Unique to Tipalti, Global Partner Payments ensures your digital-first company can offer a top-tier partner experience that leading disrupters rely on to take their platform to the next level.
Onboard new partners and manage existing ones with white-labelled, self-service partner management.
Securely send thousands of payments to 196 countries, in local currencies in 6 payment methods in minutes- and eliminate errors before they happen.
Ensure tax compliance with KPMG-approved tax form collection, tax ID validation and withholding calculations.
Mitigate exposure and conduct proactive fraud checks.
ACMO Accounts Payable Solution (APAY) is a cloud-based APAutomation solution that provides a highly automated, cost-effective process while you stay in complete control of your invoices. The solution captures and transforms the invoice information, with little to no human intervention, and integrates with all leading ERPs and Business Applications.
Hosted within Australia on our secure AWS cloud
Subscription-based licensing with a flexible contract length
No on-premise infrastructure is required
Go-Live in weeks as soon as the account is integrated with your ERP.
The inbuilt document management system allows access to your invoices anytime/anywhere
Email/Scan-To-Email/EDI/eInvoice
Import emails from your existing mailboxes
Secure EDI Gateway for suppliers to submit their invoices
Receive eInvoices direct using our Peppol E-Invoicing Access Point+ Processes pdf/docx/xlsx/zip/tar and password-protected files
Inbuilt machine-learning capabilities to extract all invoice information
Cognitive capture engine that is not reliant on templates for data extraction
Process most invoices with little or no manual intervention.
Invoices that do not comply with ATO guidelines
Invoices with bank details mismatch
Invoices from a blocked supplier
Inactive ABN and GST-not-registered
Duplicate invoices
Invoices for goods not receipted / order price variance
All processed invoice images include the complete processing audit trail to assist with any audit.
APAY will streamline invoice data entry to interface with your ERP
Invoice routing based on DOA matrix or APAY rules matrix
Invoices can be reviewed and actioned using the proprietary ROO mobile app.
Secure web portal allowing self-service for your suppliers
Invite your suppliers through an easy-to-navigate administration module
Suppliers can submit new invoices, flip purchase orders into an invoice and check the status of an invoice payment
Review and manage requests for updates to supplier master data
APAY can integrate with all leading ERPs/ECMs/Business Applications
Supports a variety of Integration methods (REST/SOAP/CSV/RPA) Enabled/Disabled as agreed during scoping workshop + Require additional subscription on top of the standard APAY license
Book in a chat with our solution consultants, and they will be happy to provide you any additional information or arrange a product demonstration.
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