The ability to compile data and manage invoice processing without human oversight is what Medius does best. Medius makes AP autonomous – using intelligent technology to reimagine how invoices move into and through your business.
eElectronic invoicing is the exchange of an electronic invoice document between a supplier and a buyer. An electronic invoice (e-Invoice) is an invoice that has been issued, transmitted and received in a structured data format which allows for its automatic and electronic processing.
A structured electronic invoice contains data from the supplier in a machine-readable format that can be automatically imported into the buyer's Account Payable (AP) system without requiring manual entry.
Directly send the e-Invoice into the buyer’s AP system with commonly used formats such as Electronic Data Interchange (EDI) or XML. Send via a dedicated portal where suppliers can key in or upload invoice data directly.
Medius Capture, a patent-pending solution, intelligently captures data from invoices regardless of the format helping you create consistency across all electronic formats including PDF, XML and many more. The Medius Supplier Portal allows suppliers to upload invoices, or flip them from purchase orders.
A number of governments now mandate e-Invoicing for tighter control over taxes such as VAT and to help drive significant savings on the costs of managing invoices. Reduce paper, printing, manual fulfilment and postage costs, and free up a significant amount of invoice processing time.
Bring the same level of speed and accuracy to every invoice – using AI and ML to capture, digitize, process and pay invoices regardless of their format.
Medius Capture automatically codes and distributes invoices automating the invoice-to-pay process.
Accurately capture information from invoice headers and line-items then automatically match them against single or multiple POs and receivables.
Give suppliers full visibility of new orders and invoice history, so they are more informed of your trading relationship.
Medius Invoice Capture uses intelligent technology such as optical capture, artificial intelligence (AI) and machine learning (ML) to capture relevant data from any invoice format via a process that you don’t have to touch and that gets smarter with every step.
The definition of a truly touchless process is that no intervention is required from when the invoice arrives to when it is posted to the ERP for payment. It’s possible to get there, and this article will reveal five ways to improve your organization’s AP automation efforts, so you can spend less time chasing paper and more time doing productive work.
The Global State of AP Automation Survey reports that AP teams have seen a decrease in paper invoices and an equivocal increase in electronic invoices being processed. But, 49% of AP teams reported no change in straight through processing, and 44% no change in average time to process an invoice.
That’s a lot of digitized unstructured data that hasn’t been automated effectively enough to save time or reduce the number of human touchpoints.
Chadwell Supply used to handle invoices manually and had different folders separating invoices by pay terms and by coordinator. Chadwell Supply turned to Medius to implement a solution that could overhaul their current AP processes and they now challenge themselves to see how many can be touchless.
