WareConnect Accounts Payable (AP) & Purchase to Pay Automation
od: WareConnect
WareConnect streamlines approval workflows with fraud control for Dynamics Business Central and ERP.
WareConnect operates as a cloud-based subscription service leveraging AI and ML to automate various financial processes, including Accounts Payable (AP) Automation, Invoice Automation, and overall Finance Automation, seamlessly handling Budgets, Purchase Requests (PR), Purchase Orders (PO), Goods Receipts (GR), Invoices, Statements, and EFT Bank summaries. This solution is ideal for financial managers, accounts payable teams, and procurement departments looking to streamline their operations.
Budgets are crucial for expense forecasting and tracking, allocating funds to Departments, Cost Centres, and Projects. WareConnect simplifies expense management, providing insights into spending patterns for informed decision-making and financial control.
PRs are raised in real-time with Budget lookup, routed through approval flows, and converted into POs automatically emailed to vendors and finance teams. GRs are managed effortlessly, facilitating smooth 3-way matching for inventory accuracy.
Invoices are processed with data extraction, validation against business rules, and routing through approval flows. 2-way and 3-way matching against POs and GRs ensure accuracy. Statements are reconciled automatically, highlighting discrepancies and aged balances.
EFT Bank Summary batches are created for invoice payments, generating Dynamics 365 Business Central cheques and email notifications with remittance advice. This streamlined process enhances accuracy and saves time in payment processing.
WareConnect caters to any industry using Dynamics 365 Business Central and ERP, seamlessly integrating via API to fetch Supplier cards, Account codes, Tax codes, Job codes, and items. It automates data posting in Dynamics 365 Business Central for Invoices and Invoice PDFs, optimizing financial workflows.
Overall, WareConnect addresses the common pain points of manual financial processing, such as errors, delays, and inefficiencies, offering comprehensive financial automation solutions that empower businesses across industries to streamline processes, enhance accuracy, and increase productivity.