Name: AP Automation
Author: Octacom

Help Desk

Web and Video Conferencing

Customer Support

Business Intelligence (BI)

Collaboration

Data Discovery and Visualization

Document Management

Enhanced 911 (E911)

File Sharing

Risk Management

Statistical Analysis

Enterprise

Accounting

Invoicing

Subscription Management

Finance and Accounting

Applicant Tracking

Corporate Learning Management

Diversity, Equity, and Inclusion (DEI)

HR Management

Payroll

Recruitment Agency

Recruitment Automation

Talent Intelligence

Talent Management

Workforce Analytics

Workforce Management

Human Resources

Cloud Storage

Data Lakehouse

Data Mapping

Firewall Security Management

Fraud Detection

IP Address Management (IPAM)

In-Memory Databases

Incident Response

Infrastructure-as-Code (IaC)

Integration Platform as a Service (iPaaS)

Log Management

Managed IT Service

Network Performance Monitoring

Password Management System

Release Management

SOA Application Gateways

Web Portal

WiFi Hotspot

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Appointment Scheduling

Audio Editing

Content Management

Customer Reference Management

Email Marketing

Email Testing

Marketing Automation

Product Sampling

Retail Media Advertising

Social Media Management

Social Media Marketing

Survey & Forms Building

Web Analytics

Marketing

Field Service Management

Project Management

Professional Services

Customer Relationship Management (CRM)

Lead Generation Services

Lead-to-Account Matching and Routing

Multichannel Retail

Sales Coaching

Sales Gamification

Social Commerce

Sales

Architecture

InsurTech

Laboratory Information Management

Legal Billing

OSS/BSS (Operations Support/Business Support)

Oil and Gas

Real Estate

Vertical-Specific

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Octacom's AP Automation is a solution designed to streamline and automate accounts payable processes for organizations of all sizes. This software is specifically tailored to meet the needs of finance and accounting departments, accounts payable professionals, procurement professionals, financial controllers, and CFOs across various industries. With its comprehensive features and user-friendly interface, AP Automation aims to enhance efficiency and productivity in accounts payable operations.

## Key Features

**Simplify Invoice Receipt**: According to the vendor, the software offers multiple options for centralized receipt of invoices, including email forwarding, custom vendor portal, EDI, and digital mailroom services.

**Automate Invoice Capture and Matching**: The vendor claims that the software utilizes AI and Machine Learning technology to automate the capture of invoices, eliminating the need for manual data entry, purchase order matching, and GL/dimension coding.

**Digitize Complex Approval Workflows**: The Odiss Software provides simple dashboards, notifications, and insights to facilitate delegation of authority and streamline the invoice approval workflow.

**Secure Archive and User Management**: Octacom offers a searchable archive with granular user permissions to ensure compliance and provide secure access to invoices.

**Improve Organizational Access**: The vendor states that the software enables instant digital access to invoices, approval status, and payment confirmation, enhancing accessibility for users.

**Streamline Exceptions Management**: The Odiss Software allows users to automate exception handling and manage vendor returns, including handling duplicate invoices, invalid vendors, and invalid purchase orders.

**Implement a Fully Integrated Solution**: According to the vendor, Octacom's Odiss Software seamlessly integrates with any ERP or Procure-to-Pay solution, providing a comprehensive and touchless accounts payable automation solution.

**Improve Reporting and Analytics**: Octacom provides comprehensive reporting and analytics capabilities, offering visibility into invoice cycle times, vendor and approver spend, and other key metrics.

**Reduce Costs and Increase Scalability**: The vendor suggests that accounts payable automation can help reduce costs and enhance scalability by streamlining processes and reducing the need for additional staffing as invoice volume grows.

**Improve Visibility and Accountability**: The vendor claims that automation software provides transparency into invoice cycle times, approval workflows, and direct accountability for approvers within the organization.

Tipalti automates critical financial processes to drive efficiency, including accounts payable, mass payments, procurement, and expenses, all on one global finance automation platform that grows with the organization, automating, de-risking and simplifying finance.

SAP Concur is a SaaS expense report management product, and handles corporate travel booking, expense report automation, reimbursement, audit, and business intelligence, and corporate card integration.

Concur Travel and Expense

SAP Concur

AP Automation

Accounts Payable

Octacom

Features found in accounts payable software products

Automated Accounts Payable Processes

Accounts payable processes are automated based on pre-determined workflows.

Vendor Management

Holds information related to vendor terms and contracts.

Tax Form Preparation

Allows users to create and share tax forms within the platform.

Payment Management

Features that allow for the management of payments across various forms of finance/accounting software.

Customizable Approval Policies

Policies for different types of approvals can be customized, sent to multiple approvers, automatically approved, etc.

Financial Document Management

Invoices, expense reports, and associated documents are stored within the platform for any future needs.

Payment Status Tracking

Tracks what stage payments are at in the process, from approval to receipt.

Payment Audit Trail

Allows admin users visibility into the entire payment process, from receiving the expense claim or invoice to the payee receiving payment.

Duplicate Bill Detection

Detects duplicate invoices or expense reports to prevent double payments.

Advanced OCR

Automatically imports information from invoices, receipts, expense reports, and other 
scanned documents into the platform.

Electronic Funds Transfer

Funds can be transferred via EFT as opposed to paper checks.

PCI Compliant Security Measures

Banking and finance information is protected according to Privacy Shield and GDPR standards.

TrustRadius is a technology and business research firm based in Austin, Texas. The company is known as a review platform for verified B2B technology and software reviews through a proprietary algorithm and human verification.

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Accounts Payable Software

AP Automation

Overview

What is AP Automation?