Herzliya, Israel, 13th May 2024 – Payouts.com, a leading provider of accounts payable automation solutions, today announced the release of its enhanced platform designed to significantly boost efficiency, accuracy, and financial control for businesses across various sectors. This innovative solution leverages cutting-edge technology, including intelligent invoice capture and automated workflows, to streamline the entire accounts payable process.
Payouts.com’s platform is tailored to address the unique needs of modern businesses, reducing the manual effort involved in invoice processing by up to 80%. With its advanced optical character recognition (OCR) technology, the system eliminates the need for manual data entry by automatically capturing and validating data from invoices in any format—be it PDF, scanned images, or electronic data interchange (EDI).
One of the core features of the Payouts.com solution is its flexible approval workflows. These workflows can be customized to match the specific requirements of any organization, facilitating faster and more accurate invoice approvals. The mobile app further enhances this functionality by enabling approvals on the go, which is crucial for dynamic business environments.
The platform does not only automate invoice processing but also offers real-time spend visibility through its comprehensive dashboards and custom reporting capabilities. These tools provide businesses with critical insights into their spending patterns and cash flow, enabling informed decision-making and strategic financial management.
Moreover, Payouts.com simplifies the reconciliation process with its automatic invoice matching feature. This tool aligns invoices with corresponding purchase orders and receipts, reducing the risk of errors and freeing up valuable time for financial teams.
The collaborative vendor portal introduced by Payouts.com is another highlight, improving transparency and communication between businesses and their vendors. This portal allows vendors to submit invoices directly, check payment status, and utilize self-service tools, which enhances overall vendor relations and operational efficiency.
In addition to streamlining accounts payable processes, Payouts.com’s platform includes built-in compliance controls to mitigate risks and protect against fraud. Its AI-powered system is designed to detect potential duplicates and other suspicious invoices, providing a full audit trail for easier compliance and audits.
Payouts.com and its AP automation solution also supports multi-currency payments and integrates seamlessly with preferred payment methods. It identifies early payment discount opportunities, contributing to significant cost savings and improving the bottom line for businesses.
With the launch of this enhanced AP automation solution, Payouts.com continues to lead in providing comprehensive, technology-driven services that not only meet but exceed the requirements of modern financial operations.
About Payouts.com
Payouts.com offers a comprehensive accounts payable automation solution that helps businesses of all sizes increase efficiency, reduce costs, and gain better control over their invoice processing and vendor payments. Combining cutting-edge technology with a user-friendly design, Payouts.com delivers unparalleled efficiency, visibility, and control, empowering businesses to optimize their financial operations and succeed in the competitive marketplace.
Media Contact
Organization: Payouts
Contact Person: Leor Ceder
Website: https://payouts.com/
Email: marketingmail@payouts.com
City: Herzliya
Country: Israel
Release Id: 13052412030