APX e-Invoicing

APX e-Invoicing is a Procure to Pay solution designed specifically for Upstream operators and their suppliers in the Energy and Petroleum industry. According to the vendor, this software offers e-Invoicing functionality, providing a process for the electronic receipt and routing of invoices, automated workflow, AI parsing and data verification, and full purchase order functionality. APX e-Invoicing is intended for use by procurement professionals, accounts payable professionals, and finance and accounting professionals in the oil and gas sector.

Key Features

Complete Procure to Pay Solution: APX e-Invoicing is positioned as a comprehensive Procure to Pay solution for Upstream operators and their suppliers, covering the invoicing process from receipt and routing to automated workflow and data verification, according to the vendor.

Electronic Receipt and Routing of Invoices: APX e-Invoicing enables the electronic receipt and routing of invoices, aiming to eliminate the need for manual handling and paper-based processes, potentially improving efficiency and reducing errors.

Automated Workflow: APX e-Invoicing includes automated workflow functionality, which is said to streamline the approval process for invoices. The vendor claims that this feature ensures invoices are routed to the appropriate approvers, reducing delays and enhancing overall accounts payable efficiency.

AI Parsing and Data Verification: APX e-Invoicing utilizes AI parsing technology to extract data from invoice PDFs, aiming to eliminate the need for manual data entry. According to the vendor, the extracted data is then verified for accuracy, reducing the risk of errors and ensuring correct invoice processing.

Full Purchase Order Functionality: APX e-Invoicing offers purchase order functionality, allowing for integration between purchase orders and invoices. The vendor claims that this integration ensures accurate matching and reduces discrepancies.

Supplier Portal: APX e-Invoicing provides a supplier portal for invoice submission and tracking payment status. According to the vendor, this feature improves communication, reduces manual follow-ups, and enhances supplier satisfaction.

Operator Portal: APX e-Invoicing includes an operator portal that provides visibility and control over payment schedules. The vendor states that operators can easily track and manage invoices, ensuring timely payments and efficient cash flow management.

Superior AP Workflow: APX e-Invoicing is claimed to provide a superior accounts payable workflow tailored to the needs of Upstream operators. The vendor suggests that this streamlines the invoice approval process, reducing manual effort and enhancing overall efficiency.

Supplier Invoice Submission with AI Parsing and Data Verification: According to the vendor, suppliers can electronically submit their invoices through APX e-Invoicing, benefiting from AI parsing technology that automatically extracts data from invoice PDFs. The extracted data is then verified for accuracy, ensuring correct invoice processing and minimizing errors.