New Tool Promises AP Automation Accuracy

Corporate travel and expense management firm ExpenseAnywhere focuses its services on providing financial automation tools for company executives on the go. Now, the company has introduced a new service with the same capabilities of mobility and automation in mind.

Reports on Monday (Dec. 7) said ExpenseAnywhere has launched InvoiceAnywhere, a cloud-based tool to help businesses manage their vendor invoices, accounts payable and procure-to-pay processes.

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Key to the solution, the firm said, is its proprietary recognition technology to digitize invoice information; according to ExpenseAnywhere, the tool provides 100 percent accuracy when converting invoice information into sortable data.

That information can then travel through the approval process, land in the correct department, get verified, eliminate duplicate invoices and make it easier for businesses to pay their suppliers and vendors.

InvoiceAnywhere also provides a supplier portal through which companies can submit their invoices, track the status of their bills and purchase orders and request early payment or negotiate other settlement terms with their corporate buyers.

The company said the solution integrates into existing ERP systems already in use by a company and connects managers to real-time analysis of corporate spend. It also integrates into multiple payment gateways to initiate payment in any currency, according to ExpenseAnywhere.

With regards to compliance, InvoiceAnywhere is connected into the Avalara AvaTax service to automatically calculate tax based on local regulations.

“As a global leader in travel and expense management automation, we are excited to bring to market our highly innovative cloud-based InvoiceAnywhere solution that completely automates the management and payment of supplier invoices and empowers companies by automating their AP processes, eliminating paper and achieving significant cost savings, along with increased corporate operational efficiencies, supplier satisfaction and greater visibility in cash management,” stated ExpenseAnywhere President and CEO Dr. Ashok Dhar.