Fintech Awards 2021

Wealth & Finance International - 2021 FinTech Awards 27 APR2w2 Automating accounts payable in this way gives users visibility into bill activities, statuses, and ownership with greater transparency and accountability. Audit-ready histories of approved bills are stored in the Stampli AP automation system, and invoices can be downloaded anytime. The AP automation software solution uses artificial intelligence technology (Billy the Bot) to automate AP invoice processing and learn an organisation’s unique patterns to simplify GL-coding, automate approval notifications, identify duplicates and more. AP automation software is likely best deployed by small and mid-sized businesses with at least 100-200 invoices per month – ideally, a sufficient enough volume that the savings in invoice processing can equal the cost of the software. It’s also best used by companies that have purchased enterprise resource planning, or ERP software. The exception to this rule of thumb is anyone whose time is valuable enough that they’ll make more money providing their business’s principal service or product than by sitting in their back office manually going through invoices. In this case, whatever small loss they’ll incur for a basic ERP system and AP automation might be more than offset by the time savings that they can pour into their business. Mediocre or poor AP automation vendors try to force companies to conform to their standards. They’ll try to push out solutions that only work with certain ERP systems, require certain payment types, or demand a programmer’s knowledge to operate. Then there’s the AP automation vendors that pose as true automation technologies for accounts payable, all the while they have people manually coding invoices for their customers. Stampli on the other hand, has true automation with machine learning and artificial intelligence built-in to automate capture, coding, and routing processes. Another reason Stampli is well-suited for helping small and mid-sized businesses is that it looks to work with companies rather than force them to do anything. Stampli’s AP automation platform is compatible with ERP systems from Oracle, SAP, Sage Intacct, and Microsoft, to name four of the biggest providers in the space. Stampli is the only accounts payable automation (AP automation) software that centres communications on top of the invoice so that AP collaborates better with approvers, vendors, and anyone involved with purchases to quickly resolve issues and questions, resulting in five-times faster approvals. Best Automation & Invoice Management Software – USA Stampli is also payment agnostic, meaning that customers can pay their vendors in whichever manner they prefer. While there’s been a movement toward ePayments in recent years, Stampli Direct Pay has no problem with anyone who still wants to pay their invoices by check (or by ACH). Business is hopefully about growth, and Stampli wants this for the companies it works with. As such, the solution is scalable. Solutions like Stampli allow small businesses to handle increased invoice volume without bringing on more staff. And if additional staff do join the company, it’s easy to add them as authorised users and to quickly get them trained on how to use the system, with Stampli happy to provide assistance. Stampli And if a small or mid-sized business decides to change ERPs, which can happen as companies grow, no problem. At the end of the day, Stampli can go wherever its partners go. Company: Stampli Email: [email protected] Website: www.stampli.com