The Benefits of Our Accounts Payable Software

Updated on Tuesday 17th November 2020

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The more the number of invoices issued by a company increases, the harder the task of the accounting department to sort and introduce them into the system. When it comes to detecting errors, the job becomes even more difficult. For companies generating large numbers of invoices every month, PaidAnalytix has created an accounts payable software which helps them identify payment errors, duplicate payments and other issues that usually appear during the processing of invoices.

Below, we invite you to read about some of the benefits of our accounts payable software and how you can use our services to improve the accounting in your company. We also offer audit recovery services in order to help you reduce the time spent with investigating payment errors. You can also rely on us for AP recovery audit services.

Accounts payable automation software

It is not uncommon for companies to use automated accounts payable software which helps them improve the overall activity of their accounting department, however, our software is unique because it is based on Artificial Intelligence which is capable of making personalized predictions for those interested in the solution proposed by PaidAnalytix.

We also propose using our overpayment protection software through which we can help you reduce the number of duplicate payments. We also offer tailored recovery audit solutions.

What are the most important advantages of an accounts payable software?

There are many benefits linked to using an accounts payable software, among these the most significant are:
  1. it will help you save time as the software is much faster than the human eye in spotting irregularities;
  2. it will help you save money and will allow you to invest this money in your business;
  3. it will provide a streamlined and more accurate invoicing process allowing employees to focus on other tasks;
  4. we offer customized solutions based on the number of invoices and other information you want us to process.

All the solutions proposed by PaidAnalytix are custom-made, so if you are looking not only for an accounts payable software, or for a reduction of the cost with the recovery audit, but also for overpayment recovery services, you can obtain them all from us.

We invite you to read about the benefits of our accounts payable software in the scheme below:
Why use our accounts payable software

A time-saving solution for your company

Processing invoices takes a lot of time and no matter how trained to spot errors and other irregularities an employee is, there will always be a number of mistakes in the whole process. With the help of our accounts payable software, one of the most important benefits is that the process will require less time or better said a few minutes to detect hundreds of payment errors. More than that, our accounts payable software will be able to provide accurate information on how to improve the payment process if you are looking for a solution in this sense.

Thanks to our AI-based machine learning engine, the algorithm will be able to create different patterns that help you establish what works best for you and your company. This way, in case of an audit, you will no longer need to contact audit recovery firms.


You can save money with our AI-based software

Money is one of the most important drivers behind a business and Artificial Intelligence can now help you save quite a lot when it comes to paying for the accounting mistakes you will find with the help of our accounts payable software. By that, we mean that our software will verify all the invoices you submit to us and will return with precise information on which are the invoices with problems, where duplicate payments have been made and how you can prevent those problems before occurring.

We can also help you with accounts payable audits in order for you to know how you can improve the overall accounting in your business.

Streamlined error detection process and accuracy

One of the greatest advantages of our accounts payable software is its accuracy. And this is simply because we don’t want you to waste more time and money with inefficient software. When we say streamlined procedures, we mention that most errors that would take days for your employees to discover will be found in a few minutes with the help of our software.

Customized solutions for your company

We are aware of the fact that companies are very different, and this is why all our services are customized to each client’s needs. You can select the information you want to submit with our accounts payable software in order to obtain the results you are interested in.

Here are some facts on the results obtained with our services:
  • for one of our most important clients we have managed to recover 2,1 million euros from duplicate payment errors;
  • the accuracy of our software is currently over 95%,
  • the AI-based accounts payable software is 30% more accurate than other solutions;
  • you can gain up to 40 hours of work per month with the help of our accounts payable software.

For more information on our AI-based accounts payable software, please contact us.

Radu FertoneaArticle by:
Radu Fertonea is the founder of Paid Analytix and Senior Manager with Executive MBA degree (Maastricht School of Management). He was director of operations at Societe Generale European Business Services, in charge with: Management of the Source to Report practice (Procurement, Accounts Payable, Accounts Receivable, Management Accounting) | Global redesign of end-to-end source to report activities | Consolidation of the Finance exercise for the European operations of Société Générale (100% coverage target by 2020) | Transition Management, Process Standardization and Continuous Improvement | People Management – team of 150+. With a broad experience in the financial field and after working with large societies which handle thousands of payments every year, came up with the idea which led to the creation of Paid Analytix.