Retailers deal with hundreds (if not thousands) of different vendors, large volumes of complex invoices with endless invoice lines that need to be matched to purchase orders and goods receipts.   

MediusFlow for retail enables full control of the accounts payable process, helping them manage unregulated indirect spend and providing the efficiency needed for retailers to survive in this fast-paced, competitive industry. 

With more than 90% of all accounts payable invoices now automated and essentially touchless, we now have control of our true financial picture. Everyone is thrilled – the AP team, the business, our suppliers. The outcome is absolutely remarkable!
- Elise Byrd, AP Manager, Silver Eagle Distributors

With MediusFlow AP automation for retail, you’ll get:

  • An advanced invoice matching engine that automatically matches even the most complex scenarios 
  • Automation tools to accelerate both PO and non-PO invoices enabling the highest rate of touchless invoice processing in the industry 
  • Visibility and control of the accounts payable process, including non-merch spend, with full access to data for process performance KPIs and financial reports
  • Pre-packaged connector to Microsoft Dynamics AX/365, as well as other leading ERP systems on the market 

 

Retailers who successfully have automated their AP with MediusFlow

How it works: AP automation for retail

By automating every step of the invoice management process, MediusFlow allows you to reduce manual work, accelerate invoice processing, and gain greater financial control and visibility.

We automate even the most complex retail accounts payable scenarios  

Retailers often receive numerous and complex invoices from a large number of vendors with detailed information about the ordered goods including item number, color and size. For accounts payable, the task to match each invoice line to the corresponding rows in a purchase order and goods receipt can be lengthy and complicated, to say the least.  

MediusFlow’s advanced invoice matching engine has been designed to automate even the most complex matching scenarios and enable a high degree of fully automated – touchless – invoice processing. In fact, retailers using MediusFlow achieve an average touchless ratio of 71% with leaders hitting 90% - meaning 9 out of 10 invoices are automatically matched to the purchase order and goods receipt, coded and posted in the ERP for payment without any user intervention whatsoever.  

In the case a human does need to be involved, such as when a deviation is identified by the system, MediusFlow makes the process smooth and easy by presenting only the deviating invoice line to the correct buyer or approver in the organization.

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


Efficient and scalable accounts payable supports retail growth  

The retail industry is characterized by rapid growth, high consumer expectations for speed and quality, disperse locations as well as low margins on products and fierce competition. In this challenging environment, streamlined and efficient business operations is a must for any retailer to simply stay in business.  

MediusFlow allows retailers to automate and accelerate their invoice processing for PO-based as well as non-PO based invoices for indirect or non-merch spend.

 

 

With invoice processing lead time dramatically reduced, you can ensure vendors are always paid in time and even take advantage of early payment discounts. In addition, the reporting capabilities in MediusFlow provide easy access to the data you need to gain full visibility of the AP process, take control of indirect spend and provide accurate month-end numbers to the financial statements. 

With 18+ years of experience automating the AP process for hundreds of retailers around the world, MediusFlow applies tried and true best-practice workflows tailored to remove the specific challenges that retailers face. Contact us to discuss how MediusFlow could support your retail business growth. 

 

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Learn more

Learn more about how MediusFlow supports retail businesses.

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Norwegian furniture retailer Bohus has achieved best-in-class AP invoice automation, with 80% touchless processing, by upgrading to MediusFlow in the cloud.

Video: 15 min solution demo

Watch a full video demonstration of MediusFlow and discover the benefits of true accounts payable automation.