Frequently asked questions

What is AP Automation?

Accounts payable (AP) automation is the use of software to digitize the invoicing process to create more efficient and effective workflows.

This process automation eliminates the need for paper invoicing and manual tasks which improves operational efficiency and cashflow by reducing human error.

Determine how to select the right AP Automation Solution for your business.

What are the benefits of AP Automation?

According to Gartner, by 2030, 80% of business-to-business invoices worldwide will be transmitted digitally. AP automation increases visibility, operational efficiency, and improves cash flow. OpenEnvoy is the only detail-level invoice auditing solution that ensures you never overpay your vendors. We guarantee ROI with the following:

End-to-end visibility

  • Access real-time expense analytics by department, category, and vendor.
  • Track vendor billing performance over time to ensure you receive the highest quality of service.

Operational Efficiency

  • Trust your records as your source of truth with automated General Ledger (GL) coding before an expense is recorded in your ERP system.
  • Completely automated expense approvals based on spending limits eliminate time spent on invoice auditing, expense reconciliation, and payment submission.
  • Let go of the stress of managing exceptions with a centralized record that simplifies disputes settlement.
  • Our solution is SOC2 compliant to ensure data and privacy are securely protected.

Cashflow

  • OpenEnvoy is a preventative solution. Our automation conducts full invoice audits, identifying accidental and fraudulent charges, duplicate expenses, and any other line item discrepancies before making a payment.
  • Experience an immediate increase in cashflow as your team no longer has to exhaust resources to dispute overpayments or wait to recoup funds!

Read more about the benefits of our AP automation solution.

I already have a team that reviews invoices. What is the value in moving away from manual invoice auditing?

Did you know that 30% of invoices have at least one error, and 90% of these errors favor the vendor (per Gartner)?

Manual auditing requires a significant amount of time, and when receiving thousands of invoices monthly, the room for human error increases significantly. Finance teams need quick access to real-time data and visibility into business spend.

OpenEnvoy鈥檚 AP automation solution can give your team the confidence in your system to review, audit, and process invoices providing you with 100% accurate and clean data.

Schedule a demo today!

What do you do for Freight Audit?

Legacy freight audit vendors often need to conduct pre and post audits then second-post audits before recovering wasted spend. This process can take anywhere from 30 days to six months. CFOs understand how this timeline impacts cashflow in all areas of the supply chain.

OpenEnvoy is the first and only freight audit solution to complete a full audit of every invoice before you pay, eliminating the chances of ever being overcharged by vendors.

We guarantee ROI with a fully automated auditing process for immediate cash flow, vendor scoring to ensure long-term quality, and clean data you can trust as your record of truth.

Learn more about our freight audit capabilities.

What do you do for Expense Management?

Our technology streamlines expense management by identifying problematic receipts, unauthorized charges, and limiting overage according to company policy to avoid wasted spend.

Learn more about how we improve Expense Management.

What makes OpenEnvoy鈥檚 solution unique?

No more OCR templates or manual auditing, OpenEnvoy is the only detail-level automated invoice auditing solution that ensures you never overpay your vendors.

We take any data in any format and process it in 24 hours. This real-time automation allows for visibility, operational efficiency, and improved cash flow, schedule a demo to see for yourself.

How much does OpenEnvoy鈥檚 AP Automation solution cost?

OpenEnvoy is a monthly subscription with no hidden fees and 100% data portability. Learn more about how we can support your unique needs, schedule a demo today!

How does OpenEnvoy鈥檚 AP Automation solution work?

There are no templates or vendor setup. You simply upload the required information (API, email, EDI, etc) , and our AI automatically recognizes the type of information required to perform a match. This process works for every type of document including invoices, purchase orders, receipts, and contracts.

We meticulously audit every invoice in any currency, language, for any industry. The audit automatically performs hundreds of validations depending on the type of industry and produces rich vendor analytics–all before you pay.

Schedule a demo today to learn more!

How long does it take to implement an AP Automation solution?

Implementing OpenEnvoy鈥檚 accounts payable (AP) automation generally takes 30 days and can start delivering value as early as the first week.

Will OpenEnvoy replace my accounting system?

We aim to supply your current back office system (ERP, TMS, etc) with real-time, reliable data. OpenEnvoy integrates seamlessly with every major back office system to provide best in class AP automation.

What is your model for supporting customers?

Support can mean many different things, especially as needs evolve or change. This is why we never charge professional service fees for training and provide unlimited on-demand education to support our customers.

Additionally, we customize the interface to our customer鈥檚 specifications, and we can send team members on-site if necessary. An on-site visit is included in the cost of the engagement.

Click here to read our full Customer Success SLA.

Do you have documentation for the API calls you support?

We鈥檝e built our application on an enterprise customer API, so all document types like contracts and POs are structured, digitized, and made available via API, depending on our customer鈥檚 requirements. Additionally, functions like ACL and RBAC are available too.

Click here to read our public API documentation.

What is your hosting model - single tenant, multi-tenant, other?

We use cloud multi-tenant with modern shards to separate data. However, unlike many cloud solutions, we integrate with on-prem ERPs as many of our customers have not yet transitioned to cloud ERPs. We do not outsource sub-processing.

Which ERP systems do you integrate with?

OpenEnvoy connects easily with most modern back office systems such as Oracle, Microsoft Dynamics 365, and SAP in addition to legacy systems such as OS390, iAS. OpenEnvoy also connects with major BI vendors directly.

How can approval workflows be configured with OpenEnvoy?

Workflows are built to help your team boost efficiency and productivity. Our team of experts will work with you to understand the intricacies of your accounting team鈥檚 approval process to build customized workflows to accommodate your needs.

Consult with one of our experts about your specific workflow needs.

Which languages do you support?

We support processing documents in native languages including English, Spanish, Italian, Portuguese, French, German, Chinese (experimental), Arabic (experimental), and Japanese (experimental). Additionally, we currently support English as a handwritten language.

Prevent wasted cash flow.

Connect with an OpenEnvoy expert today!

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