Overview

Medius Accounts Payable (AP) Automation is a comprehensive software solution designed to streamline and enhance the efficiency of the entire AP process. By leveraging intelligent technologies such as artificial intelligence (AI) and machine learning (ML), Medius transforms manual, paper-based invoice processing into a fully automated, digital workflow. This software ensures greater accuracy, efficiency, and compliance in accounts payable operations, helping businesses save time, reduce errors, and mitigate risks.

Features

• AI-Powered Data Extraction: Utilizes AI and ML to automatically extract relevant data from supplier invoices, eliminating the need for manual reviews. This feature handles various invoice formats, including PDF, paper, and electronic invoices.
• Touchless Processing: Enables a touchless process by automating the coding, approval, and payment of invoices. This feature ensures that invoices are processed accurately and on time.
• Seamless Integration: Integrates effortlessly with existing ERP and financial systems, including SAP, Oracle, NetSuite, Infor, and Microsoft Dynamics. This ensures a smooth transition and continuous efficiency in AP processes.
• Fraud Detection: Incorporates anomaly detection technology to identify potential fraud or duplicate payments. This feature proactively spots supplier address or bank changes, out-of-the-ordinary invoice amounts, and other patterns that reveal risks.
• Global Compliance: Manages local and cross-border invoicing and tax compliance requirements. This feature ensures adherence to local archiving regulations and government mandates.
• Customizable Workflows: Offers customizable workflows to fit specific business needs. This feature allows businesses to tailor the software to their unique AP processes.
• Automated Analytics: Provides automated analytics to evaluate compliance and performance metrics. This feature offers actionable insights to drive business decisions and improve AP operations.

Benefits

• Increased Efficiency: Streamlines the invoice capture and processing workflow, saving time and resources. The software automates key tasks, allowing businesses to focus on core operations.
• Enhanced Accuracy: Reduces errors by automating data extraction and processing. This feature ensures that invoices are processed accurately and on time.
• Risk Management: Minimizes regulatory risks by ensuring compliance with global invoicing and tax requirements. The software helps businesses stay ahead of evolving regulations.
• Fraud Prevention: Proactively identifies potential fraud and duplicate payments, reducing financial risks. This feature enhances the security of AP operations.
• Global Market Access: Facilitates entry into global markets by ensuring compliance with international standards. The software supports multilingual documentation, making it easier to meet diverse regulatory requirements.
• Expert Support: Access Medius's team of experts for guidance and support. The software is backed by professionals who provide comprehensive AP management services.