Streamline vendor management and payment requests with automation
Manage vendor relations with ease
Organizations of every size encounter hundreds to thousands of vendors on a regular basis. A high volume of vendors can often make the management of each vendor as well as payment processing difficult to track. Poor vendor management and untimely payments can result in unreconciled payments and loose financial controls, which can produce financial risk for any business. Streamlining and automating vendor management and payments can eliminate wasted administrative time and speed up financial processes, ultimately reducing operational costs and saving money.
- Reconcile payments quickly
- Ensure payment deadlines are met by automating notifications and deadline reminders, and escalate payments if they are high priority or rush delivery is needed.
- Ensure compliance
- Provide a clear audit trail on each payment that can streamline and support financial reporting and auditing.
- Save time with data integration
- If multiple records exist, users can select and validate which vendor information is correct. Record updates can be synced back to ERP systems to ensure data is consistent across platforms.