Medius and SourceDay join forces. Better together never looked so good.
A joint Medius and SourceDay solution delivers greater operational efficiency and control to the Procure-to-Pay (P2P) cycle for discrete manufacturers and distributors.
How much could you get done if your
hands weren’t full of invoices?
Finance and Procurement—it’s time to come together.
Without collaboration between Finance and Procurement, it’s impossible to know what you’re paying for—and how much you’re paying. Where’s the control?
Procurement
- Need to collaborate with suppliers.
- Need accurate price, quantity, and dates on PO lines.
- Accurate visibility into supplier performance.
- More accuracy for better planning and resource handling.
Finance
- Need to pay suppliers on time.
- Visibility of cash position.
- Improve invoice matching, reconciliation, fraud detection, and approval.
- Decrease risk.
Solving for what matters. Together.
Putting AP automation at the forefront of a P2P process by implementing AP automation solutions results in the improvement of analytics, sourcing, contracts, risk management, and e-procurement processes and outcomes. When you add the supply chain collaboration platform from SourceDay the results are even better.
- Streamline procurement communications.
Maximize efficiency and accuracy in buyer-supplier interactions with a single PO collaboration process.
- Advance payment security and automation.
Leverage AI and ML for secure invoicing, payment and fraud prevention, minimizing manual intervention and risk.
- Strengthen supplier trust and transparency.
Build solid supplier relationships through timely payments and transparent financial processes.
Watch this video demo to see how you can enhance end-to-end efficiency.
When you integrate SourceDay with your ERP system you centralize all supplier communications into a single process, improving efficiencies for buyers. This streamlined communication significantly improves the procurement process, ensuring that ERP data remains accurate and up-to-date, and gives invoicing a higher first-pass match rate. When you add Medius, you get autonomous processing for both PO and non-PO invoices, handling complex matching cases with exceptional straight-through processing rates, elevating the procure-to-pay lifecycle to even greater levels of efficiency. See how the solutions work together.
Medius and SourceDay bring procurement, supplier relationships, and finance together.
Our technologies are like peanut butter and jelly - both are great on their own, but put them together and they’re even better.
Enhanced end-to-end efficiency
- 80% efficiency gain for buyers by centralizing supplier communications
- Up to 99.7% autonomous invoice processing of PO-backed invoices
- Up to 94.9% Autonomous Processing of non-PO invoices
- Highest industry PO matching accuracy through 100% ERP data accuracy and advanced 3-way matching
Comprehensive visibility and control
- Up to 99.7% touchless invoice processing, minimizing manual intervention
- Early fraud detection capabilities, enhancing security
- Full visibility for buyers and suppliers from PO creation to payment
Stronger supplier relationships
- Supplier Scorecards and reporting to track performance and make pivots that directly impact supplier and customer on-time delivery rates
- Visibility into payment processes, enhancing transparency and trust
- Improved on-time payments, securing discounts and fostering good relationships
Autonomous invoice processing
- 100% accurate PO data leading to more accurate invoicing, fewer discrepancies, and accurate inventory
- Improved visibility and control over every invoice, with advanced anomaly detection
- Streamlined supplier payment process with Medius AP and Medius Pay integration
Medius and SourceDay CEOs start with customer outcomes as vision for better procure-to-pay solution.
Jim Lucier, CEO of Medius, and Tom Kieley, CEO of SourceDay, talk about the transformative benefits of our strategic partnership specifically tailored for manufacturers and distributors.
This partnership combines the best of Medius’ autonomous invoice management solutions with SourceDay’s PO lifecycle management and supplier collaboration solutions to set new standards for operational efficiency across the procure-to-pay (P2P) process.