API’s Payable Solution
API’s Payable Solution uses state-of-the art workflow technology to transform your payables process. Not only does it automate payable activities, but it provides built-in controls such as duplicate payment protection, and secured electronic invoice approval based on your pre-established business rules. By using API’s Accounts Payable Solution, your company can save up to 60% in processing costs, increase financial control and Sarbanes-Oxley compliance, and improve cash flow.

Our Payable Solution makes it easy for you to pay your bills. Invoices can be sent directly to API to be scanned and indexed. Once imaged, invoices are automatically routed for online approval. If your accounts payable process includes a purchase order system, invoices are automatically matched to the purchase orders and receiving records. All unmatched invoices are automatically routed for exception processing. All approval activities and invoices are stored electronically for easy access, and to provide a secure electronic audit trail.

Key Features

• 24 to 48-hour processing commitment
• Vendor Portal for viewing payment status and history
• Automated routing for online approval
• Robust management reporting
• Exception processing
• Automated general ledger coding
• Drill-down capabilities from invoice to support documents
• Duplicate payment protection
• Full EDI capabilities
• Payment by ACH, wire or check
• Easily accessible audit trail

Benefits

• Reduce processing costs by up to 60%
• Improve management of cash flow and payables
  -Reduce late fees
  -Utilize vendor discounts
  -Avoid duplicate payments
  
• Improve business intelligence
• Improved financial control and Sarbanes-Oxley compliance
• Reduced invoice discrepancies and disputes
• Strengthened Vendor relations
• Quick Implementation and ROI