Being one of the most critical departments of a company with a massive impact on the cash flow, Accounts Payable team's work involves paper-intensive tasks such as invoice processing, analysis, approvals, Purchase order matching and payments. Working with paper-based - or even electronic but unstructured - documents often causes inefficiencies with data gathering and processing leading to incorrect posting, delayed payments and interruption of a supply chain.
Payboard offers powerful automation with the use of applied artificial intelligence to streamline financial document processing requirements while simplifying transaction transformation and posting.
Cybersecurity presents a serious challenge, especially during the age of remote work and distributed financial teams. One of the most critical components of your business - finance - is exposed and vulnerable, not just from the outside factors but from within the organization as well.
With tight controls, multiple approval levels, on-boarded suppliers and strict payment processing flow, Payboard gives an extra layer of control and protection, and makes sure your payments are remitted to the right supplier instead of a fraudulent third party.