Our vendors are extremely happy. In the past, we were struggling to pay an invoice in less than 45 days. With MediusFlow we have been able to shorten our invoice processing lead time to in average 11 days.
- Regis Litre, CIO, Marc Jacobs
Accelerate your invoice processing
AP automation with MediusFlow dramatically improves approval times for invoices by creating a simple, touchless experience. Most businesses using our accounts payable workflow solution have cut the invoice processing lead time to 7 days, and some to less than 2 days.
Automated invoice processing with MediusFlow allows you to:
- Gain competitive advantage by improving supplier relationships
- Avoid late payments and negative credit impact
- Support timely closing of books and financial reporting
- Create an exceptional user experience for internal audiences
- Enable skilled accounts payable resources to focus on business-critical initiatives
Automation saves time – and money
MediusFlow increases the level of straight-through processing with industry-leading invoice automation and invoice matching capabilities. Our best practice workflows allow us to work hand-in-hand with AP teams to reinvent how AP is done today and drive continual improvements. Every aspect of the invoice process is monitored and tracked using our benchmarks and KPIs including our Touchless Ratio. In fact, our advanced matching engine makes it possible to automatically process over 90% of purchase order-based invoices without any manual intervention.
Our cloud solution is flexible and scalable and provides an exceptional user experience across devices ensuring a high level of adoption and consistent use. And a shorter approval process ensures that you can pay your suppliers on time, every time. That means no more late fees, stronger relationships with your suppliers, and even the opportunity to capture early payment discounts.
True AP intelligence
But MediusFlow doesn’t just save time for your accounts payable department. It turns it into an intelligence hub for your business. Unprecedented access to data combined with powerful reporting capabilities allows both finance teams and management to get a clear financial picture of the business, identify process improvements and make informed business decisions.
How does it work? Click below to view automated invoice processing with MediusFlow in action:
Suggested next topic: Automated invoice matching of PO-based invoices
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