Invoice Verification Software: Tungsten AP Essentials™
Streamline the invoicing process from capture to validation and approval with our advanced invoice verification software, AP Essentials™
Invoice automation in the cloud
Tungsten AP Essentials™ is a world class accounts payable solution that automates the capture and validation of invoices from any source, in any format. Supplier invoices typically arrive in paper, PDF or myriad electronic formats delivered through postal services, emails, EDI or Internet portals. It doesn’t matter. AP Essentials enables AP teams to swiftly capture, codify and route invoices seamlessly, securely and consistently.
AP Essentials uses proprietary optical character recognition (OCR) technology with impressive accuracy. The extracted data is then validated, classified, and routed for approval, enabling organizations to automate the invoice processing workflow. AP Essentials integrates with existing financial systems to provide a seamless end-to-end process, reducing manual data entry and increasing efficiency.
What’s New in AP Essentials
Powering enterprises toward touchless invoice processing.
- Enhanced OCR Accuracy: Capture complex scripts and handwriting precisely.
- Invoice Document Library: Pre-trained model ensures 95%+ first-time capture.
- Custom Validation Rules: Low-code rules tailored for seamless ERP integration.
- Tungsten Copilot: AI-driven insights reveal supplier trends and cost-saving opportunities.
Save time with best-in-class cognitive capture
Streamline invoice processing with workflow automation
Automate invoice processing with broad ERP integration
Experience low TCO and fast ROI
Increased data accuracy
Invoice and purchase order data is extracted using market-leading cognitive capture technology, resulting in more accurate financial data and reduced risk of errors.
Robust analytics
Pre-built dashboards provide insight into invoice status and exceptions, and “zero-touch” processing and supply continuous feedback to further optimize the invoice process.
Improved supplier relationships
Faster, rules-driven invoice processing reduces late-payment penalties while securing early payment discounts and improving supplier relationships.
Reduced IT requirements
Set-up requires no hardware or software investment or time-consuming maintenance, upgrades or updates.
Intelligent line item extraction
Machine learning optimizes line item extraction that improves with each invoice processed. The result is highly efficient 2-way (invoice to purchase order) and 3-way (invoice to purchase order and goods delivered) line item matching.
Approval workflows and GL coding
Configurable rules-driven approval and exception workflows make for quicker processes. User-assisted GL coding and image storage provides additional capabilities for end-to-end invoice automation.
Multi-Language and currency support
Supports a wide range of invoice origin and user interface languages based on over 25 years of global invoice processing experience.
Support for electronic invoices
Increase invoice processing extraction rates in XML or PDF files and reduce manual verification and correction.
Excel import for master and PO data
Use Microsoft Excel to easily import supplier master data and PO data for validation and verification.
AR purchase order processing
Customer purchase orders are captured, validated and exported to the ERP, enabling an efficient, accurate start to the order process.
Featured content
All the services, support and resources you need to accelerate your time to value.
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Failing to verify an invoice can have several consequences, including delayed payments, financial losses, and incorrect payment amounts. Invoice verification software allows you to automatically capture, analyze, validate, and approve invoices from various sources.
Enhanced optical character recognition (OCR) accuracy allows Tungsten AP Essentials to capture and digitize handwritten and printed text, which can then be validated to ensure your invoice is accurate. Validating each invoice is a key part of modernized invoice management and compliance, and invoice validation software takes the manual labor out of the invoicing process.
Authenticating an invoice is a tedious process that involves checking the details on the invoice against the vendor information you have on file. You can start by looking at the vendor name, address, and other basic information to make sure it’s all correct. Next, you can compare the invoice to your recent purchase history with that vendor to make sure you’re not being charged for anything you didn’t receive.
Solutions like AP Essentials, which is part of Tungsten InvoiceAgility, allow you to eliminate some of the manual labor involved in the invoice approval system, saving you time and money.
When you’re verifying an invoice, you need the basic information about the vendor as well as any receipts for goods or services you’ve recently received. Once you verify the vendor’s basic information, you can start to look at individual items on the invoice to make sure they align with your recent orders. Invoice approval software can check your invoice against your other records and validate it for you, saving you valuable resources.
From the banking and financial services industry to small businesses, everyone can benefit from having a simplified solution for verifying invoices.
Finding the best invoice approval software starts with looking for the features you need most. Tungsten AP Essentials doesn’t require any additional hardware, so setup is simple. AP Essentials uses machine learning to optimize line item extraction, with enhanced OCR recognition for hard-to-read handwriting.
Talk to our sales to learn more about how AP Essentials works and how the features offer specific benefits in enterprise applications. If you want to give AP Essentials a try to see if it’s the right invoice verification software for your organization, request a demo today!