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Accounts Payable Automation

The BEST invoice automation solution. Process invoices 14 times faster. Save 80% in AP costs.

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There are 80 people in my company, and every one of them raves about our digital AP process. Centime is awesome! Our suppliers are ecstatic about electronic payments, and the great surprise is that it has improved our cash flow.  “up (1)

Rob Rubin  President, Sippewissett Highlands Homeowners Association
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Award winner
Aite-Novarica names Centime its
2022 Commercial Banking Fintech of the year

 

Our customers

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Group 3805@2x
Abacus Insights
butterfly-v2

Centime Accounts Payable Automation


What it does

  • Capture invoice data (using OCR and AI/ML) from scanned paper and electronic documents
  • Automatically categorize and code invoices to General Ledger accounts including classes, departments, locations and custom fields
  • Use hierarchical invoice approval rules based on invoice attributes
  • Post approved invoices and documents to the accounting system

Why it matters

  • Process invoices 14 times faster
  • Save 75% on invoice processing costs
  • Mitigate fraud, improve controls
  • Empower decentralized, distributed teamwork

Why Centime

  • Capture invoice data in real-time with 90% accuracy or better
  • Use flexible invoice approval rules based on invoice attributes
  • Detect duplicate invoices to limit fraud

What it does

  • Plan payment runs using an integrated 13-week cash flow forecast
  • View the impact of payment decisions (who to pay, how much, when and how) on future cash in real-time
  • Automate supplier engagement to maximize credit card acceptance and early payment discounts
  • Use CentimeCredit to defer payments to suppliers for up to 90 days
  • Use any commercial credit card to pay any supplier (even if the supplier does not accept credit cards)

Why it matters

  • Plan payment runs to optimize working capital
  • Capture 97% of early payment discounts offered
  • Get cash back on as much as 20% of your AP spend
  • Lengthen Days Payables Outstanding by 30%

Why Centime

  • Gain critical insights into future cash flows with integrated cash forecasting
  • Use insights from integrated cash forecasting to plan your payment runs
  • Automate supplier engagement to maximize credit card acceptance and use of early payment discounts
  • Defer payments by up to 90 days with Centime virtual credit card
  • Pay any supplier with any Visa and Mastercard commercial card (even if suppliers don’t accept credit cards)

What it does

  • Configure dual payment approvals to implement “segregation of duty” controls
  • Send payments by check, same-day ACH or credit card
  • Send rich remittance detail to suppliers along with payments
  • Provide detailed tracking and payment progress information to both you and your supplier
  • Reconcile payments made against open invoices

Why it matters

  • Choose the best way to pay based on supplier preferences, cash needs
  • Implement strong payment controls, mitigate the risk of internal fraud
  • Reduce paper check payments to less than 50%, improve payment operations

Why Centime

  • Gain maximum control over payment method to optimize cash, supplier relationships
  • Use payment planning features to simplify disbursement operations
  • All ACH payments are sent same day for no additional cost
  • Monitor and report fine-grained, end-to-end payment status

What it does

  • Monitor key indicators of payables performance: Days Payable Outstanding, Turnover Ratio, Paid Early, Paid Late
  • Compare payables performance by time period (e.g., prior quarter, same period prior year)
  • View payables performance by supplier, time

Why it matters

  • Use KPIs and reports to track and improve payables performance
  • Easily share performance with board, management and key stakeholders

Why Centime

  • Use industry-standard KPIs to track performance
  • Immediately use integrated performance reports: no development or configuration needed
  • Leverage easy to understand, multi-dimensional, visually rich reports

Integrates directly with

time  5 mins - Easy integration 

 

Group 3759
Group 3743
Group 3744

What customers love about Centime

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“We started with Centime to streamline invoice processing, but have come to find the embedded cash management features indispensable. And, our auditors are really happy that we now have strong payment controls.”

 

Jennifer Rogers, VP of Finance

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“We have never made supplier payments without carefully understanding their impact on cash. Centime’s ability to plan our AP payment runs with a view to future cash flows is without comparison.”

 

Drew Pearson, CFO

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“It is a pleasure doing business with Centime — their team is experienced and empathetic. They get us, and we think of Centime as an extension of our own team.”

 

Pallavi Shah, Controller

Want to know more?

Wonder what Centime costs? How we compare with other AP Automation Solutions? Need to get a free trial? What it takes to get started? A demo? An ROI analysis?

Talk to us! We’d love to answer all this and more.

All You Ever Wanted To Know About AP Automation But Were Afraid To Ask!

About Centime

 

With its cash management solutions, Centime helps small and mid-sized businesses thrive.

 

Centime provides comprehensive SaaS solutions that integrate with the customer’s accounting system and features applications that address key aspects of the cash flow life cycle.

 

With Centime Cash Management, businesses can monitor cash balances, forecast cash flows, automate AP and AR, access a range of cost effective credit and liquidity solutions, and track key indicators of cash flow and business performance.

 

Centime was awarded 2022 Commercial Banking Fintech of the Year by Aite-Novarica.

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