Accounts Payable processes are multi-tiered, multi-departmental, and complicated. They are laborious, time-consuming, and prone to errors. Additionally, organizations without a system for invoice management have to collate humungous amounts of paper across their branch offices into one location in order to check integrity between purchase order, goods received note, and invoice.
Expenzing Invoice Management solution is an Accounts Payable automation software that uses intelligent robotic agents to do a five-way check between quantity, rate, order value, Goods Received Note (GRN), and advances paid. Invoices are authorized for payment only if the invoice matches with the goods received and the specifications and rates in the PO.
Vendors submit e-invoices on the Vendor Portal and these are immediately available for Accounts Payable teams to review. If vendors submit physical invoices to the procuring location, the buyer can very quickly enter invoice details into the system for A/P to process. Expenzing Invoice Management Software has built in algorithms that automatically check invoice details and prevents incorrect invoices from being authorized for payment.
Expenzing Accounts Payable software reduces cycle time for A/P by automating the invoice authorization process. Expenzing helps reduce the paper trail and email dependency, avoid manual entries of data and constant follow-ups with stakeholders.
Recurring Expenses and Rent Manager is a module within Expenzing Invoice Management Software that automates all cyclical bill payments including office, factory, warehouse and retail outlets rents, internet charges, mobile bills, electricity, water, and software subscriptions. Also available as a standalone product. Details here
Expenzing Invoice Management Software generates power spend analytics to guide management on identification of savings opportunities.
Managing budgets is a complex affair. Expenzing Invoice Management Software comes with an optional budget control module that plays the role of a 24x7 Financial Controller. Keep spends in budget bands and avoid the embarrassment of supplementary budget requests, and post-mortem reports to the Directors.