![]() ![]() ![]() Automated bill matching ensures vendor bills are two- or three-way matched with the associated purchase orders to ensure details such as unit pricing, quantity, and totals are accurate. A side-by-side view of the actual bill makes it easier for AP teams to review and approve.īill Matching and Approvals: Avoid overpayment, duplicate payments, or fraudulent payment of vendor bills. NetSuite automatically creates a bill record, using artificial intelligence based on previous bill entries and pre-populates the appropriate fields. Bills are scanned using AI/ML-based object detection and optical character recognition, and relevant details, like vendor name, PO number, items ordered, quantity, and pricing are then converted into digital text. NetSuite AP Automation helps organizations:īill Capture: Capture vendor bills more quickly and with fewer errors by removing manual data entry and automating the entire bill capture process. With NetSuite AP Automation, eligible transactions completed with an HSBC virtual credit card earn credit, which further reduces operating costs and turns accounts payable from a cost center into a revenue generator. From within NetSuite, organizations can determine precisely when and how to pay vendors to ensure control over outgoing cash flow and take advantage of early payment discounts. With automated payment services provided by HSBC, payment processing is simpler, faster, and more accurate. This helps businesses streamline and improve a key operation, empowering AP teams to operate more efficiently and ultimately reduce costs." "By simplifying and automating the entire bill payment process – from data capture to payment and reconciliation – NetSuite AP Automation eliminates these challenges. "Accounts payable plays an important role in helping organizations manage cash flow, control costs, and maintain strong relationships with vendors, but all too often the process is slow, tedious, and error-prone," said Evan Goldberg, founder and EVP, Oracle NetSuite. As a result, organizations can better control outgoing cash flows and easily scale end-to-end accounts payable processes. The only solution that embeds banking services into a cloud enterprise resource planning (ERP) system, NetSuite AP Automation helps organizations improve profitability by making it easier and faster to process bills and pay vendors all from within NetSuite. 28, 2022 /PRNewswire/ - SUITEWORLD 2022 - To help organizations address the time consuming and labor-intensive Accounts Payable (AP) processes, Oracle NetSuite today unveiled NetSuite AP Automation. New fully embedded banking services provided by HSBC enable vendor payments to be made from within NetSuite
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