Paymode AP Automation

Automating AP across the entire invoice-to-pay process has considerable benefits

Here, you'll learn how Paymode can take outdated, paper-based invoice workflow, approval, and payment processes and convert them in a streamlined solution that maximizes efficiency, visibility, and security. Comprising an Invoice Automation and Payment Automation module, Paymode offers your organization the opportunity to automate your entire AP process from end-to-end, or focus on the right standalone solutions for your business needs.

The end result is the elimination of costs, errors risk, and a transformative opportunity for your AP department.

76% of organizations say smarter systems that drive more efficiencies are essential for the next level of AP performance.

Complete invoice-to-pay automation

Paymode solves for traditional challenges and helps AP departments maximize efficiency, visibility, and security by automating the entire invoice-to-pay process. Streamline invoice receipt, automate workflows, accelerate approvals, and make all payment types (virtual card, Premium ACH, Basic ACH, check, and B2C) using a single solution that integrates seamlessly with your ERP of choice.

Comprised of an Invoice Automation module and a Payment Automation module, Paymode offers your organization the opportunity to automate your entire AP process from end-to-end, or focus on the invoice or payment processes standalone. Many organizations rely on Paymode to maintain business continuity, as AP operations increasingly transition to remote work and digital invoice and payment processes.

Paymode invoice automation

• Eliminate paper invoices and manual processes

• Reduce costs, errors risk

• Integrate seamlessly with your ERP

• Approve invoices on-the-go with mobile support

Paymode Invoice Automation enables your AP department to overcome the cost, time, risk, and errors associated with paper invoices and manual processes.

Easily digitize and automate the invoice lifecycle starting at the time of receipt through capture, matching, coding and approvals as part of your Paymode AP Automation solution.

Captures and stores invoices:

Receive and efficiently process paper and electronic invoices from any source. Advanced data extraction, OCR, machine learning, and real-time validation automatically captures invoice information to minimize manual data entry. PO-flip lets your vendors seamlessly convert presented PO’s into invoices via the Paymode vendor portal. Optional managed services for invoice receipt and pre-processing. Invoices and supporting documents are accessible within and external to your ERP.

Automates workflows and approvals:

Accelerate processing with automated 2-and-3 way PO header and line-item matching with exception handling and approval routing. In addition, automate GL code entry and approval routing for non-PO invoices. Flexible rules for approval workflows with notification, reminders, and escalation are easily maintained by business users. PO-flip further drives match automation. Mobile access makes it easy for users to review and approve assigned tasks while traveling or in the field.

With Paymode Invoice Automation, your AP department will streamline workflows, enhance governance, and get operational visibility around PO and non-PO invoice processing status. Invoice risk scoring uses custom business rules plus supervised machine learning to help identify unusual and potentially fraudulent invoices. Gain valuable insights with interactive dashboards, real-time reporting, and a complete audit trail for all activities, status updates, user comments and rule changes.

Paymode payment automation

• Maximize efficiency by converting to electronic payments

• Reduce payment processing costs

• Reduce payment fraud risk

• Streamlined processing of all payments to vendors and consumers

Paymode Payment Automation can provide 100% day one payment automation, enabling your AP department to maximize efficiency, reduce fraud risk, and drive AP revenue.

Easily make any type of payment using a single solution that integrates seamlessly with your ERP. Network payment scoring provides an at-a-glance risk assessment to enhance visibility and evaluate the security of each payment before you make it. It is easier than ever to maximize rebates, thanks to revenue share available on both virtual card and Premium ACH transactions.

Paymode draws on the power of a 475,000+ member network of businesses already accepting electronic payments.

This established network, combined with comprehensive Vendor onboarding services, helps ensure your business can accelerate payables optimization. Paymode teams will manage and execute dedicated campaigns to your Vendor community, which includes gathering and authenticating Vendor details and banking information.

Vendors can easily sign up online to accept virtual card and ACH payments, and Intelligent Payment Optimization will ensure that your transactions are always settled using the lowest cost/highest return payment type for each trading relationship. Your vendors will benefit from detailed electronic remittance information in their preferred format and other valuable Accounts Receivable tools.

Why choose Paymode?

Paymode integrates seamlessly with your ERP, resulting in unprecedented efficiencies, cost-savings, and ease of use. By automating the entire invoice-to-pay-process, you can transform AP performance, free employees to focus on driving the business forward, and increase organizational value.

Flexible integration options 

Paymode makes your AP automation solution implementation simple and streamlined. Choose the implementation approach that makes the most sense for your business.

ERP connector

Automate the synchronization of invoicing, payment data, and vendor updates to and from your ERP on a schedule or on-demand.

Secure file upload

Securely upload a simple, standardized file format through the Paymode portal.

Secure data transmission

Automate file delivery in the format your business utilizes with a one-time setup of your secure transmission process.

APIs

Connect directly with Paymode using our published APIs.

Have questions about Paymode?

Explore these frequently asked questions about Paymode, AP Automation, our supplier network and more! Don't see a question you have on the list? Use our chat to speak with a solution expert.