The Benefits of Using an Overpayment Protection Software

Updated on Thursday 10th October 2019

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The processing of invoices can be subject to errors, especially when dealing with a large number of payments and complex processes. These errors will often lead to the loss of money which will be reflected in a company’s financial result In order to reduce such losses, an overpayment protection software can represent a proper solution for medium and large businesses.

PaidAnalytix is an overpayment protection software that helps business owners reduce the amounts of money lost during the processing of invoices. We invite you to read below about the main benefits of using such software for your company. We also offer accounts payable audit services in order for you to run your business efficiently.
 

What are the main benefits of our payment recovery software?


With years of experience behind and partnerships with large companies in Europe, PaidAnalytix has managed to help many clients reduce payment errors. Even if this is the most important benefit of our payment recovery software, there are also advantages related to using it. Among these, we mention the following:
 
  1. higher accuracy during the payment processing procedure as we use Artificial Intelligence to compile the information;
  2. the improvement of processing times – clients can save hours of work by using our overpayment protection software;
  3. less effort for the employees and an improved attention span during the procedure of verifying invoices;
  4. lesser to none duplicate payment errors which have proved to be the most often mistakes when introducing invoices in the accounting system.

Together with an accounts payable audit, in order to find out how the accounting department can be improved, we strive to offer complete solutions to those interested in using a dedicated overpayment protection software for their businesses.
 

Higher level of accuracy when processing payments


According to our research, many companies use their own employees in order to process payments and invoices. People are subject to making mistakes because of fatigue which often leads to a lack of attention. This is where our overpayment protection software can make a difference: we use automated AI-based software where all the data is uploaded and verified. Our payment recovery software gathers all the information, verifies it and signals all errors found during the process.

If you need more information on how our payment recovery software works, we are at your disposal with details and examples.
 

Reduce processing times with our payment recovery software


Time is precious for everybody, but when you run a business, time passes faster than for a regular person. Accounting is one of those areas where time is essential especially when it comes to deadlines. One of the benefits of our payment recovery software is just that: it helps reduce the processing times of invoices and thus concentrate on other important tasks.

Another advantage of our payment recovery software is that it works for any type of company, no matter its activity and size.
 

Increased employee productivity


Employees are the core of any company and most of the times the personnel in the accounting department is the most stressed. Our payment recovery software can help in this regard if you decide to use it. Even if indirectly, our software will help you delegate tasks better, distribute employees in other departments where they are needed more and will lead to increased productivity in the accounting department where the work volume can be decreased.

With PaidAnalytix, Artificial Intelligence is used to deliver fast and secure results and thus helping companies to maximize productivity and improve the workflow.
 

No more payment processing errors


Errors are a major problem when handling invoices which often implies collecting information and introducing it into the accounting software. This is a laborious task that often leads to unwanted mistakes. With our payment recovery software, you will only need to enter information on your company and paid invoices in order for our team to process it and come back to you with their findings and errors. This way, our overpayment recovery services will be tailored to your needs.
 

The benefits of our payment recovery services in numbers


Our software has been on the market for several years and it has helped us gather important information and come up with proper solutions for many companies. Among the benefits we can bring to our clients through our payment recovery software are:
 
  • 30% increased accuracy in detecting payment processing errors;
  • clients can gain on average up to 40 hours per month with processing procedures;
  • they can also recover up to 1 million euros on 100 million euros payments;
  • the operational effort of employees can be reduced by 50%.

For complete information on our payment recovery software and our accounts payable audit services, do not hesitate to contact us.