Formed AI, a robust mid-market developer of Business Process Automation Software, has entered a strategic alliance with ECI Software Solutions, a leader in cloud-based business management (ERP) solutions, to offer a first-class integration for accounts payable automation, providing automation for both processing of invoices and vendor payments.
FormedAI’s powerful digital accounting automation platform will natively integrate with e-automate to streamline and standardize AP workflows & vendor payments, to help businesses transform their accounts payable function into a revenue-generating center of the company, by earning rebates when making vendor payments.
This new integration between Formed AI and e-automate will allow e-automate users to reduce their manual tasks by as much as 80% by providing secure and automated workflows for accounts payable and vendor payments.
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TURN ACCOUNTS PAYABLE INTO A REVENUE GENERATING CENTER OF YOUR DEALERSHIP
- Earn Rebates when processing vendor payments via Virtual Credit Cards
- Automate processing vendor payments (Check, ACH and Virtual Card)
- Make Vendor Payments Virtually
- Increased Control & Visibility into Vendor Payments and Cash Flow Management
- Significant Transaction Savings (Check and ACH)
- No more Supplier Enablement, Stopped Payments and Refunds, Supplier Records Updates
- Prevent ACH Errors
- Avoid payment fraud by automating vendor payments via a secure portal
AP AUTOMATION – AUTOMATE PROCESSING OF INVOICES
- Capture invoices digitally with a guaranteed 99% accuracy, including handwritten or unstructured
- Automatically reconcile invoices to Purchase Orders and Goods Received “3 way match”
- Attach proper GL codes (summary or line item)
- Workflows automatically look up payment terms and discounts
- No more missing Early Payment Discounts
- Eliminate Duplicate Payments
- Automatically apply credits
- Route invoices to approvers or back to vendors if errors detected
- No more data entry
- Instantly gain visibility via built in dashboards into which vendors are owed, how much is owed and when it is due.
- No more late fees, No more keying errors, ensure you are paying the contracted pricing, instant retrieval of invoices and no more lost invoices
The e-automate and FormedAI integration is available for self-hosted users. Support for cloud version of e-automate customers will follow late Q3.
To Learn more please contact a Formed AI Subject Matter Expert – Sales@formed.ai
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