Could your AP processes be smarter?
Medius uses intelligent technology like machine learning and AI to move invoices into and through your business via processes that you don’t have to touch and with a solution that gets smarter with each step.
Robots aren’t taking your job, just your frustrations.
Medius’ software applications use artificial intelligence (AI) and machine learning (ML) throughout the source to pay process to speed up and streamline key AP processes, including invoice matching, reconciliation, fraud detection, and approvals.
- Auto detect e-invoicing formats
- Header and line level capture
- 1st and 2nd time capture
- Touchless Capture
- Company identification
- Supplier identification
- Multi layout detection
- Invoice type detection
- Automatic Coding for non-PO invoices
- Fraud and anomaly detection
- Intelligent user assistance
Are you the best in AP? Would you like to be?
Bottlenecks hurt. They put pressure on AP teams and can damage supplier relationships. Processing invoices without human intervention is the hallmark metric for defining transformation success. How do you stack up to Medius clients?
Medius Touchless Processing Rate
The percentage of PO invoices that are automatically processed, matched to supporting data and approved for payment by the AP system without any user intervention whatsoever.
Medius Total Invoice Processing Time
The number of days it takes from when a PO invoice is entered in the AP system for data capture until it is finally approved and ready to be paid.
* Ardent Partners State of ePayables 2023 Benchmark Metrics
Eliminate the invoice.
The real promise of AI and machine learning within accounts payable is not just streamlining processes but eliminating them. IDC’s Accounts Payable Survey found that less than 9% of respondents are fully autonomous and use no unnecessary human interaction in the AP process. Yet the desire to move to autonomy is high among survey respondents, especially as they move further along the AP process.
Importance to reduce level of human intervention to enable STP
From a cost control and risk point of view, how important is it to reduce the level of human intervention in the following steps to enable straight-through processing? (Top 2 box summary table)
(% of respondents)
* n = 360, Source: IDC's Autonomous Processing Survey, August 2022
Could you be on the cutting edge of AP? Or are you too busy working?
Autonomous AP is the great differentiator in today's technology landscape. Organizations around the world are realizing that while automation has reduced some of the manual tasks for AP teams, it hasn't delivered the impact that they need to process invoices faster and free up AP teams to focus on strategic CFO initiatives. See what opportunities open up when invoices can be processed autonomously.
Improve vendor relationships
At the core of keeping your suppliers happy is making sure they're paid on time. AI-backed e-invoicing and touchless processing increase processing times, so payments get out the door on time, every time.
Increase liquidity
AP teams that focus on an autonomous process can forecast earlier and more accurately. Real-time, accurate cash forecasting means better planning and management of liquidity and working capital.
Improve fraud detection
AI can track and raise the red flag for anomalies throughout the entire invoice lifecycle. Technology compiles these alerts for review, which lets AP teams stop fraudsters in their tracks and put an end to mistakes before they impact the company's cash.
Automated AP is good. Autonomous AP is everything. See how we stack up.
Accounts Payable Moving from Automated to Autonomous
New Frontiers in Accounts Payable: Automation, Digitization and Impact
IDC and Medius: Modernizing accounts payable
“The work doesn’t end with going live. That’s the starting point for process improvements. Medius provides us with the KPIs and tools we need to identify issues, solve them and drive more automation across the entire process.”
Lukasz Gauza
AP Team Leader, Duni
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