ACCOUNTS PAYABLE INVOICE AUTOMATION
AP invoice automation processes invoices in any format with speed and accuracy
Go touchless! Vroozi Invoice + Intelligence eliminates the pain of managing paper invoices and frees your team to focus on high-value work.
Reduce your cost per invoice, shorten cycle times, and increase spend control through budget, invoice and PO-checks. Our fully cloud-based electronic invoicing system has built in matching and automatically identifies errors, duplicates and overpayments so you can ensure you only pay for what you order and receive.
Cognitive OCR invoice capture
Intelligently extract data from incoming invoices and automatically populate with continuous learning and adaptability based on thousands of invoice formats.
Straight through
processing for invoices
Drive up automatic processing of invoices without requiring human intervention.
Smart coding and invoice approvals
Machine Learning that does the work to code invoices and route for approvals for accurate and on-time payments.
Hassle-free
integration
Integrate Vroozi with your Financial or ERP systems to send an approved invoice for digital payment.
Cognitive scan and capture
- Intelligently capture data from invoices without manual data entry with a continuous feedback loop.
- Support PO and non-PO Order invoices with intelligent 2 and 3 way matching.
Straight-through processing within tolerances
- Configure your financial invoice approval rules and tolerances to streamline workflow approval cycles.
- Leverage built-in AI capabilities to route invoices for review before payment.
Duplicate invoice and fraud checks
- Receive notifications if an invoice is a duplicate or if the invoice is possibly a fraud using the Vroozi Intelligence engine.
Integrated exception handling
- Intelligently route invoices which have exceptions (price mismatches, incorrect billings, etc.) to the right department or person.
- Provide one-click resolution capabilities for problem invoices.
Why leverage Vroozi for your AP invoice automation?
Reduce invoice processing costs
Manually entering invoices from varied suppliers, each with its own format, can be incredibly time-consuming. It’s a labor-intensive task that diverts your AP team’s attention from high-value work. Vroozi’s AP invoice automation eliminates the need to manually process invoices. It uses AI and ML to automatically extract key data from any invoice, reducing invoice processing costs and freeing your AP team to focus on higher-value projects.
Eradicate overpayments and other invoicing errors
Overpayments, underpayments, and duplicate payments can impact your bottom line and hurt supplier relationships. Vroozi’s invoice processing software makes invoice errors a thing of the past. Automated invoice capture and data extraction ensures your finance and payment software has the correct information. Automatic two-way and three-way matching confirms invoices align with purchase orders and delivery receipts.
Take advantage of early payment discounts
AP invoice automation accelerates the invoice approval and payment process. Cognitive OCR invoice capture, automatic invoice matching, and our straight-through touchless or human-in-the-loop approvals move invoices to payment much faster than manual processing. Faster payments allow you to take full advantage of early payment discount opportunities.
Manage procure-to-pay workflows with one provider
AP invoice automation is one part of Vroozi’s complete procure-to-pay solution. With a single provider, you can centralize supplier catalogs, shop in a digital marketplace, dispatch purchase requisitions and purchase orders, manage order approvals, receive and match invoices, and more. Plus, Vroozi integrates with your existing eProcurement, ERP, and financial software. This comprehensive approach simplifies procurement while making it more transparent and manageable.
Ready to see what next-gen AP Automation looks like?
Check out our latest insights, tips, tools and more to guide your accounts payable transformation
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Invoice Automation Solution FAQ
What is AP invoice automation?
Accounts Payable invoice automation, sometimes called eInvoicing, uses technology to streamline and automate invoice management. Instead of manually handling invoices, which can be time-consuming and prone to errors, automated invoicing software takes over the task of processing, organizing, and paying invoices.
Vroozi’s invoice automation software offers electronic invoice capture, data extraction, invoice matching, workflow routing for approvals, and integration with financial systems.
How does AP invoice automation improve spend visibility?
Vroozi AP invoice automation provides real-time access to spending data and analytics. With all invoice information centralized in one system, businesses can easily track and analyze their spending patterns.
Automatic invoice coding is key to enhanced spend visibility. The automation system categorizes each invoice with appropriate codes related to cost centers, departments, or projects. Detailed classification allows for granular tracking of expenditures and helps identify trends or anomalies in spending.
Vroozi’s reporting tools enable businesses to generate comprehensive reports on demand. These reports can break down spending by various dimensions, giving finance teams and decision-makers clear insights into where the company’s money is going.
How does AP automation enhance supplier relationships?
AP automation ensures timely and accurate payments, which are crucial for maintaining trust and goodwill with vendors. Invoices are processed and paid faster, reducing the likelihood of late payments that can sour relationships.
By minimizing errors and delays, AP automation also reduces the administrative burden on both sides of a transaction. Suppliers appreciate the smooth process and the reduced need for dispute resolution, which can be time-consuming and frustrating.