Explainer Demo #2
Description
Vocal Characteristics
Language
EnglishVoice Age
Young Adult (18-35)Accents
North American (General)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
at avid exchange. We help liberate accounts payable from the costly inefficient paper chase of manual payment processing. With our ap automation solution you can match purchase orders approved invoices and pay suppliers from the same digital platform. It starts when suppliers send invoices to a dedicated avid exchange email address or P. O. Box. We then use advanced technology to digitize every invoice and automatically extract the relevant data. So when you log into avid exchange, all your pending invoices appear in one simple dashboard data is pre populated and ready for review with smart coating features that allow you to mirror the processes in your existing accounting systems. You can even set up rules to automatically route things for approval based on specific figures like account numbers. And of course you can easily work purchase orders into the process with two and three way match capabilities. You can decide which data points to compare across invoices, pOS and receipts and you can customize a tolerance level you're comfortable with for when the documents differ. When there are unmatched line items and variances and expenses. You can drill into those details to see why and our software will automatically flip the line item data. You can also activate alerts to see when an invoice falls outside of the P. O. Policy and what's causing it. So you can prevent those unwanted bottlenecks. Everyone with permission based access contract status anytime, anywhere from any device adding comments and attachments as they go. You can customize workflows in avid exchange to keep complete control over payment reviews and approvals before they're processed. When invoices are approved, your team can select and schedule the payments you're ready to make and identify those workflow triggers for specific checkbooks or companies. Once you fully approve our dedicated support team goes to work to make your payment. If your supplier is already in our avid pay network, we immediately process the payment based on that supplier's preferred payment method. If not, we'll contact them on your behalf to understand their preferences and set them up to start receiving payments. In addition to checks, we offer two different types of electronic payments. Mastercard and avid pay direct. Our enhanced direct deposit option With E payment adoption of 40% or higher. You can reduce fraud risks and ensure more timely payments for your suppliers. Our software constantly syncs with your financial system and general ledger. So completed invoices and payments are posted to fully close out the ap process and we send Remittance information with each payment, ensuring easy reconciliation and fewer supplier inquiries. You can quickly produce custom reports on all your payments with robust search and export features. So audits become a breeze. Finally your team is free from the paper chase and ready to drive more strategic value for your company. So if you're ready to say goodbye to the paper based time suck and hello to simpler, more secure. Ap liberate your ap with avid exchange