B2B Payments

New AP Automation Tool To Debut Next Week

WesTech has a new way to automate accounts payable processes, but it won’t be releasing it until next week. An announcement made by the company on Tuesday (Oct. 20) said the firm has a new invoice automation and data extraction tool that will debut at next week’s M-Files 2015 Americas Partner Conference.

[bctt tweet=”WesTech has a new invoice automation and data extraction tool.”]

WesTech is a reseller of M-Files and Parascript technology. The new tool, WesTech said, uses Parascript data collection tools and M-Files enterprise information workflow technology.

According to the company, the AP automation service will allow businesses to have a more malleable experience using their data, instead of spending time collecting it.

“Our customers have a diverse and evolving set of needs so we wanted a product that adapts to address different applications, which is affordable and easy to use,” said WesTech eSolutions CEO and Founder Bill West in a statement.

He added that Parascript’s software can integrate projects of any size into a single platform, providing for an easily scalable solution. “Without this level of flexibility and the capabilities of this product, we wouldn’t be able to deliver our solutions to such a variety of clients,” West said.

WesTech’s tool emerges as the latest solution for accounts payable executives looking for automated solutions. Recent research by Ardent Partners and Basware found that AP executives this year are more concerned than ever with making their reporting and data analytics processes stronger and doing so through the electronification and automation of their workflows.

“Technology is a core component of this forward-thinking notion, as AP automation helps create scalable, repeatable, linked and more efficient processes that can drive down costs, improve the overall ‘speed’ of invoice and payment processing and enable back-end reporting that can be used to improve operations and results within AP and the larger enterprise,” the companies concluded in their July report.

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