Accounts Payable

Accounts Payable: Streamlining Your Financial Flow!

Empower your accounting team with transparency and control over finances by deploying Newgen’s accounts payable software, built on a low code digital transformation platform—NewgenONE. Maximize your return on investment by leveraging this AI-powered solution, which can capture, classify, validate, match, approve, manage payment, and archive different types of invoices, irrespective of the source, format, language, or region. Ensure adequate compliance adherence with the service-level agreements and changing government regulations. Integrate your standard operating procedures (SOPs) with the accounts payable solution to maximize straight-through processing of transactions and ensuring first-time-right.

Features

Multi-channel capturing of invoices
AI-powered classification of invoices
Multi-engine extraction of invoices
AI-powered de-dupe checks
Image-assisted validations and fuzzy matching
Exception and payment management with dynamic approvals
Built-in rules for touchless processing of invoices
Seamless communication and query management with vendors via the portal
Strict adherence with local and global laws & regulations
Seamless bulk payment for single/multi-vendor invoices
Easy pre-scheduled payments
Auto knock-off advance payments and credit notes
Instant updates for vendors regarding payment status with reference details

USPs

Automation and Efficiency: Reduces manual processing time with automated invoice capture and approvals, minimizing errors and accelerating payment cycles.
Real-time Insights: Provides comprehensive analytics and reporting capabilities, allowing businesses to gain real-time visibility into their cash flow and financial health.
Seamless Integration: Easily integrates with existing ERP systems and financial software, ensuring a smooth transition and continuity of operations.
Compliance and Security: Ensures compliance with financial regulations and provides robust security measures to protect sensitive financial data.
Enhanced Collaboration: Facilitates better collaboration between finance teams and vendors through streamlined communication and tracking of payment statuses.
Scalability: Adapts to the growing needs of businesses, whether small or large, ensuring scalability as the organization evolves.