Search Accounts Payable Automation.
Intuit ended their Invitbox service on the 30th of September 2018.
Whilst Invitbox has been around for some time and had many companies using their platform. It leaves the big question as to what can their current customers do and what is a great alternative?
Accounts Payable Automation is a complex task. Often vendors don’t maximise the outcome for clients because their sole focus is on data extraction from invoices. Any finance team member will tell you their role goes far beyond the realms of just data entry. If you’re looking to streamline your Finance Teams workflows OR if you’re looking to digitise the entire process then here’s an option for you.
CypherIQ.app is a platform that enables business to automate and digitise their business processes. Specifically for Finance Teams if you’re looking for a wholistic solution that enables you to digitise, centralise, automate and enable management with clear visibility over spending then look no further. CypherIQ.app provides a platform that handles multiple entry points of financial information as well as multiple integration points into your accounting system. This means that your staff can complete digital forms on their mobiles or tablets such as reimbursements, credit card purchases, kilometre claims, request for purchases, purchase orders and subsistence travel claims. Your staff can simply complete the form and take a photo, scan or email the receipts and ask for their corresponding manager to approve the request. This data is then compiled ready for integration into your Accounting Software. Dependiing on the claim this could be in Bills, Payroll or Liability.
Don’t worry we haven’t forgotten about routine accounts payable processes either.
The cypherIQ.app has a serverless intelligent capture module in which enables business to scan, email or photograph invoices. We are then able to extract data, verify invoice against receipt of goods / purchase order and provide a platform to manage exceptions and send managers documents to approve digitally. Basically you can have a one stop shop for all your finance teams workflows.
What are the benefits for cypherIQ.app for finance teams?
- Web based application enables staff to process and approve invoices and expense claims from any web enabled device.
- Business rules can be enforced for coding, approval streams as well as ensuring appropriate documentation has been attached.
- No more fragmented technology installations. Your business would have a single platform that can be used for ALL your finance teams workflows ASWELL as any other document process.
- Store and Retrieve all finance information. All documentation has an audit trail of actions and decisions made by users.
- Reduce staff overheads, reduce processing costs and complete visibility over all purchased and invoices and expense claims waiting to be approved
Who should be looking to use an application like cypherIQ.app?
cypherIQ.app is a SaaS (Software as a Service) application that enables business of all shapes and sizes to access leading technology. If you’re a business that has some of the below attributes then there is no doubt you could benefit from digitising your finance workflows.
- Mobile staff who are completing purchase orders, reimbursements and travel claims
- Multiple sites with multiple approvers of invoices
- An overloaded accounts team trying to keep up with staff reimbursements, accounts payable invoices and travel claims
- If you require visibility and control over spending BEFORE you purchase goods.
- If you need to link spending to jobs – great for NDIS, Not for Profit and Building / Construction verticals.
- If your business has strict compliance and spending delegations that need to be adhered to.