B2B Payments

Conexiom Cuts Out Manual Invoice Data Entry

In today’s world of corporate accounting, automation is key to reducing wasted time, eliminating data entry errors and managing cash flow. Cloud-based accounting automation service Conexiom has just released its own solution to help businesses tap into these benefits.

On Tuesday (Sept. 22) ecmarket, the creator of Conexiom, announced the launch of its Invoice Automation solution for manufacturers and distributors looking to more efficiently manage their accounts payable departments.

According to the company, the new tool automatically captures data from an invoice sent by vendors and inputs that information into the company’s financial or ERP system. Ecmarket said the solution provides “100 percent data accuracy.”

“To maintain solid relationships with vendors and suppliers, companies are facing immense pressure to process payments accurately and at a much faster pace than ever,” said Brent Halverson, CEO of ecmarket. “Our solution takes the load off AP professionals so they can focus their attention on the very important task of receiving and delivering payments — an essential function for all businesses.”

The company said its solution utilizes patented technology to assure data capture and input is accurate; the solution does not use optical character recognition, a technology that estimates data, because it is not entirely reliable, ecmarket said.

Tools that provide automated services have become a priority for members of the accounts payable department.

[bctt tweet=”Tools that provide automated services have become a priority for members of the accounts payable department.”]

According to recent findings from a July report published by Basware and Ardent Partners, “ePayables 2015: Higher Ground,” AP leaders are flocking to electronic tools thanks to their ability to more intelligently and accurately capture data, all while doing so automatically, reducing the time it would otherwise take to manually enter that information into their systems.

These tools, researchers added, help businesses manage stronger relationships with their suppliers.

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The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.