Medius expands automation of the AP process with native invoice data capture
8 October 2019
Medius, the leader in cloud-based accounts payable automation, releases new invoice data capture capabilities inside the award-winning Medius AP invoice automation solution to drive increased process automation.
By combining invoice data capture and workflow automation functionalities, Medius offers superior end-to-end user experience, financial reporting and control and creates new automation opportunities to enable greater efficiency and operational cost savings in the AP process.
“Our native invoice data capture engine is a response to customer demands for a more complete, efficient solution for invoice processing”, says Per Åkerberg, CEO at Medius. “Medius customers can now manage invoice capture and workflow in one solution, using one interface and leverage one data repository for end-to-end reporting and control”.
AI leveraged to increase automation levels
Medius leverages AI and machine learning technology to automatically apply settings based on historic data throughout the entire invoice management process, which increases the level of touchless invoice processing. This way, Medius eliminates time-consuming, repetitive tasks allowing for better resource allocation, lower operational costs and improved data quality.
In order to drive continuous innovation in the AP automation space, Medius’ R&D team includes data scientists solely focused on machine learning algorithms and other intelligent technology that support the continued journey towards smarter and more automated invoice processing for current and future Medius customers.
End-to-end control of the AP process
With all invoice data in one solution, progressive AP and finance teams can now access end-to-end financial reporting and process KPIs to track performance and pinpoint bottlenecks, whether these appear in the capture or workflow step of the invoice process.
A single, intuitive user interface also enables important time savings for everyone involved in the invoice process as well as quick, easy onboarding and minimal user training.
“Invoice capture and workflow automation combined in Medius is the basis of improving our accounts payable process in all entities within our organization”, says Pim Beijen, group NWC manager at SoftwareONE. “One integrated solution and interface ensured a smooth training and user process for our staff as well as easy support, thanks to a single point of contact. The capture of invoices through Medius has automated the incoming invoice process and ensures a very high matching rate of PO invoices. As the recognition of invoices improves over time, it will increase process efficiency and productivity within our organization.”
For further information, please contact:
- Per Åkerberg, CEO, Medius AB, firstname.lastname@example.org
- Thomas Müllertz, CMO, email@example.com
Medius is a leading global provider of accounts payable (AP) invoice automation solutions helping companies drive their business forward by providing best-in-class process efficiency and greater financial control. Our cloud solutions Medius and Ascendo Invoice enable unprecedented levels of automated and truly touchless invoice processing, shortened lead times, improved vendor relationships as well as greater control and visibility of financial metrics.
Over 3,000 customers and 200,000+ unique users worldwide currently leverage Medius’ AP automation solutions. Thanks to advanced invoice matching capabilities, unique process efficiency KPIs and data-driven benchmarks our customers achieve continuous process improvements for performance levels well above industry averages. As such, Medius support the transformation of AP from a traditional, back-office function to a powerful, strategic center of business.
Founded in 2001, Medius is owned by the global investment firm Marlin Equity Partners. It has over 250 employees and offices in Sweden (HQ), the United States, Australia, Denmark, Norway, the Netherlands and Poland. For more information, please visit medius.com.