Automated Payables & Receivables Software

Accounts payable automation is an accounts payable / purchase invoice automation process that streamlines the work of the entire finance team by seeking to match each invoice and each line on an incoming emailed purchase invoice with a supplier record. This avoids the need to manually enter invoices or go searching for the right purchase order or purchase delivery note.

A human colleague still checks and approves the suggested matches and a purchase invoice is created when the matching is approved.

Yes, iplicit has developed its own AI-powered accounts payable automation features, giving customers the opportunity to benefit from AP software without the need for external 3^rd party OCR systems.

iplicit’s AP automation software receives your incoming emailed purchase invoice from the supplier and examines each incoming invoice line by line. It searches the appropriate legal entity in iplicit, the supplier and purchase order list, to find likely account matches. Your finance colleagues can then review the suggested matches and each time you approve a match, a corresponding multi-line purchase invoice is created in the system. 

Yes, iplicit integrates with Lightyear straight “out of the box” via our API technology and can be easily integrated with other AP automation software too where a client might have existing 3^rd party solutions that they would like to retain. This gives the iplicit customers the freedom to choose from a range of accounts payable software options.  

The design behind AP automation is to suggest matches between orders, invoices and suppliers, however a member of the team still has to approve them prior to any purchase invoice or credit note being created. iplicit’s AP automation solution also shows you on screen on a field by field basis, how confident it is about the proposed match. The AI components learn from human decisions and any manual matching constantly, therefore your suggested matches become ever more accurate over time, becoming even more efficient.

Yes, iplicit keeps track of who owes you money and for how long. It can issue the appropriate reminders and warning letters to aged debtors, and track the management of your credit chasing activities, following your own internal policies.

Yes, iplicit’s accounts receivable functionality makes the process of managing aged debtors so much more efficient and automated.

iplicit keeps track of each and every debt and can automatically chase them for you – generating the appropriate escalated reminder emails, from gentle reminders to legal warnings.