Remove the guesswork with Automated Invoice Processing Software
Manual data entry, invoice matching, and approvals can lead to errors and delays, which can impact a company's cash flow and supplier relationships. EZ Cloud offers an automated invoice processing software that streamlines the invoice processing process, saving businesses time and money.
EZ Cloud’s automated invoice processing solution uses advanced OCR, AI, and machine learning technology to extract invoice data, reducing errors and increasing efficiency.
Our automated invoice processing software uses advanced, secure cloud technology to extract data from invoices, including supplier name, invoice number, and line-item details.
EZ Cloud's invoice processing automation eliminates the need for manual data entry, reducing the risk of errors and improving data accuracy.
Seamless data sync
The automated accounts payable invoice processing software performs over two dozen validations to verify the accuracy of the extracted data against existing supplier and purchase order information.
2, 3, & 4 Way
EZ Cloud’s platform automatically matches the invoice data against the ERP with 2, 3 & 4 way invoice matching software, ensuring that invoices are accurate and approved before processing.
EZ Cloud's automated invoice matching software feature significantly reduces errors, ensuring only accurate and approved invoices move forward in the payment process.
Improved Cash Flow Management
By minimizing overpayments and duplicate payments, our platform streamlines your accounts payable process, providing better visibility and control over your organization's cash flow.
Time and Cost Savings
Automate the invoice verification process, reducing manual efforts and increasing productivity, ultimately saving your organization valuable time and resources in the long run.
EZ Cloud streamlines the invoice approval process by automating the routing of invoices based on predefined rules. Approvers receive notifications and can approve or reject invoices with just a few clicks.
EZ Cloud's automated invoice routing system accelerates the approval process, eliminating bottlenecks and ensuring timely processing of payments.
In-app notifications and streamlined communication features enable approvers to quickly review, approve, or reject invoices, fostering better collaboration among teams.
Gain real-time insights into the approval status of each invoice, allowing for better tracking, reduced manual follow-ups, and improved decision-making across your accounts payable process.
Our automated solution can handle exceptions in invoice processing efficiently. In cases where there are discrepancies, our system identifies the problem and routes the invoice to the appropriate person or department for resolution.
Faster & streamlined
EZ Cloud's smart algorithms swiftly identify discrepancies in invoices, directing them to the right personnel for prompt resolution and maintaining smooth invoice processing.
Accountability & traceability
Our platform's comprehensive audit trail functionality enables complete visibility into actions taken to address exceptions, fostering accountability and ensuring accurate resolution.
By automating the exception handling process, EZ Cloud significantly reduces the time spent identifying and resolving issues, leading to increased efficiency and reduced operational costs.
Line level match
Line item match is a feature used in EZ Cloud to match invoices with the corresponding purchase order or receiving document. This is typically done by comparing the line items on the invoice to the line items on the purchase order or receiving document, and ensuring that they match in terms of quantity, price, and description.
By automating invoice matching process, you can greatly reduce the risk of errors and improve the efficiency of the AP process.
For ap AND FINANCE teams
How does invoice processing impact on teams?
From AP teams to Management, Controllers to CFOs, EZ Cloud creates a simple, yet sophisticated, experience to automate processes.
How are tolerances and variances on invoice lines set?
Tolerances on invoice lines are set in the ERP system and can be set at the global level, supplier level, and PO level. They can be set as a dollar amount or percentage and can be applied to taxes, lines, or the total invoice amount. In EZ Cloud, during the PO line matching process, the set tolerances in the ERP are taken into account for validation. For example, if a PO number has a 10% tolerance on items at the line level in the ERP, EZ Cloud will allow any matched PO line to waiver by 10% during the validation process. This means that if an item has a set unit price of $10 in the ERP and a 10% tolerance, EZ Cloud will not return any validation errors when the unit price is between $9 – $11.
How does EZ Cloud match these against the purchase order (PO)?
EZ Cloud uses the item description, unit price, and quantity to match against the purchase order lines in the ERP system. This process can be customized to fit the specific business requirements. The PO line attributes used for matching can be adjusted and different checks can be given different weightings. If the PO line is not matched correctly, the user can use search filters in the frontend application to easily find the correct line. Additionally, when a user updates data in EZ Cloud, the system performs multiple validations to ensure the lines match and any errors are shown immediately to the user. Any time a user updates data in EZ Cloud, dozens of validations are performed against the backend ERP system to ensure the lines are a match. These validations occur sub-second, and any errors are shown within the data entry screen. This allows the user to see the actual value in the ERP and make the necessary changes.
How does fuzzy match work?
The fuzzy match feature in EZ Cloud’s automated invoice matching compares invoice descriptions to the extracted or manually entered invoice line descriptions and returns the lines where the descriptions are most similar. It does this by calculating a percentage similarity score. The calculation is complex and takes into account different word arrangements. By default, the fuzzy match is set to return the top result but it can be configured to return multiple results, such as top 5 or top 10.
What happens when invoice lines are similar to PO lines but not an exact match?
When invoice lines are similar to but not an exact match to PO lines, it will only impact scenarios where the PO lines are not automatically matched. In these cases, the user can use customizable search filters to find and select the correct PO line. The way in which the lines are matched can be configured using any desired attributes. This can be customized to match as many PO lines as possible based on the business requirements. Our team will work with you to understand your current process and design the best invoice matching process using the available attributes from the ERP.
How does EZ Cloud remove the manual work required to manually match the lines?
EZ Cloud offers an invoice matching service within the solution to remove the manual work required to match invoice lines with purchase order lines. The service can be customized to meet the specific needs of the customer, using methods such as RPA and Machine Learning. The EZ Cloud team will work with the customer to design and integrate the service into their existing ERP system, and provide ongoing support and updates.
What's next? Here’s our process.
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