Best Invoice Scanning Software
Invoice scanning software can help you to digitize your entire invoicing process and minimize manual interventions, saving you and your accounts payable department precious time. This technology helps you to scan, capture, digitize, and process invoices – regardless of the format they’re submitted in.
What is invoice capture software?
Invoice capture software uses the latest technology such as optical capture and artificial intelligence to intuitively extract relevant data from paper and digital invoices. It does this all automatically without the need for a human to do the work themselves.
You can read more about invoice scanning.
Medius is the best invoice imaging software application that empowers businesses to exercise better financial control and boost process efficiency.
It ensures all your invoices are processed and sent digitally so you can begin to unlock the wider benefits of an eInvoicing program. This will help you create consistency across all electronic formats including PDF, XML, and many more formats.
Benefits of automated invoice capture software
Medius automation significantly improves invoice approval times by delivering a touchless, simple experience. Businesses using this accounts payable workflow tool have been able to reduce the lead time for invoice processing to less than two days.
- Automated invoice processing using Medius permits you to:
- Get a competitive edge by bolstering supplier relationships
- Avoid late payments and bad credit impact
- Achieve timely closing of books as well as financial reporting
- Deliver an excellent user experience for internal audiences
- Empower skilled accounts payable resources to concentrate on business-critical tasks
Automation Saves Money And Time
Medius improves the quality of straight-through processing with its invoice automation and matching functionalities. The vendor’s best-practice processes allow them to collaborate with AP teams to drive improvements. They monitor and track all aspects of the invoice process using their benchmarks and KPIs including their Touchless Ratio. Their sophisticated matching engine facilitates the automatic processing of more than 90% of invoices based on purchase orders without manual intervention.
Scalable And Flexible Cloud Solution
Medius is a scalable and flexible cloud solution that delivers a remarkable user experience across devices to ensure a high adoption level and consistent usage. A shorter approval procedure allows you to make timely payments to your suppliers. This helps you avoid late fees, create more robust relationships with your suppliers, and also benefit from discounts for early payments.
Essential AP Intelligence
Medius also functions as an intelligence center for your company. It provides effortless access to data and robust reporting features to enable both management and finance teams to get a good financial overview of the enterprise, identify workflow improvements, and make educated business decisions.
- Vendor management
- General ledger entry
- Fraud detection
- Duplicate payment alert
- Cash management
- Approval process control
For pricing-related queries about Medius’ software solutions kindly contact the company directly to get precise pricing facts.
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Mustafa Al Mahmud is the founder and owner of Gizmo Concept, a leading technology news and review site. With over 10 years of experience in the tech industry, Mustafa started Gizmo Concept in 2017 to provide honest, in-depth analysis and insights on the latest gadgets, apps, and tech trends. A self-proclaimed “tech geek,” Mustafa first developed a passion for technology as a computer science student at the Hi-Tech Institute of Engineering & Technology. After graduation, he worked at several top tech firms leading product development teams and honing his skills as both an engineer and innovator. However, he always dreamed of having his own platform to share his perspectives on the tech world. With the launch of Gizmo Concept, Mustafa has built an engaged community of tech enthusiasts who look to the site for trusted, informed takes on everything from smartphones to smart homes. Under his leadership, Gizmo Concept has become a top destination for tech reviews, news, and expert commentary. Outside of running Gizmo Concept, Mustafa is an avid traveler who enjoys experiencing new cultures and tech scenes worldwide. He also serves as a tech advisor and angel investor for several startups. Mustafa holds a B.S. in Computer Science from HIET.