Supplier Registration & Onboarding
The solution provides a fully automated and seamless experience right from collecting and validating onboarding documents to then creating user accounts for suppliers to leverage for future engagements.
Submission of Invoices
The solution allows vendors to submit invoices which can then be OCR’d and integrated with their existing accounts payable automation solution to deliver a truly automated and seamless experience.
In order to ensure that discrepancies are taken care of ‘at source’, Velocious Source To Pay Platform can be integrated with any powerful OCR engine that validates invoices at the time the supplier submits invoices and proactively notifies suppliers for any discrepancies. This way, only clean invoices come into the enterprise systems which could then be taken up for processing.
This is perhaps one of the most unique feature of the Velocious Source To Pay Platform. With this solution, suppliers could select invoices for early payment which is then passed on for workflow approvals with the buyer entity. Once approved, the supplier is intimated for the value of the discounted invoice.
The solution provides powerful insights in the form of dashboards and reports. Reports could be downloaded into excel and used for interpretation and analysis.