Name: Cherrywork Accounts Payable Automation
Author: Incture Technologies

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Cherrywork Accounts Payable Automation, developed by Incture Technologies Private Limited, is a software solution aimed at streamlining accounts payable processes for businesses of all sizes. According to the vendor, this tool digitizes and automates invoice processing, data extraction, and configurable approval workflows, making it a potentially valuable asset for finance and accounting professionals, accounts payable managers, procurement managers, supply chain managers, and manufacturing companies.

## Key Features

**AI/ML Based OCR Engine**: According to the vendor, this feature utilizes self-learning from millions of pretrained invoices to achieve high accuracy (95%+) in data extraction from invoices in 200+ languages and diverse formats, potentially reducing manual data entry errors and enhancing accuracy in invoice processing.

**Smart Work Bench**: The vendor claims that this feature can streamline the accounts payable function with automated task allocation and rule-based processing for auto-rejection and auto-posting. It also offers configurable approval flows, potentially contributing to more efficient invoice processing.

**Accelerate Transactions**: According to the vendor, this feature empowers AP users with inbuilt ML recommendations, including fraud detection, auto coding, and vendor invoice quality improvements. The vendor suggests that it can supercharge financial processes and enhance transaction speed.

**End-to-end Visibility**: The vendor claims that this feature provides real-time tracking of invoice status from receipt to payment, offering end-to-end visibility across the accounts payable process. It includes SLA tracking, aging reports, user workloads, and exception reporting, potentially contributing to enhanced visibility and control.

**Enhanced Efficiency**: According to the vendor, this feature aims to minimize the risk of errors across invoice data entry and user collaborations through automated approval routing based on configurable rules. It also offers rule-based non-PO coding, potentially contributing to more efficient and error-free processing.

**Multi ERP Integration**: The vendor states that this feature provides prebuilt connectors for SAP ERP integration and offers customized integration with other Enterprise systems. It supports validations of master data, 2-way and 3-way matching, and invoice posting, potentially enhancing integration capabilities.

**Enforce Compliance**: According to the vendor, this feature ensures compliance through detailed audit logs, automated approval workflows with configurable SLAs, and robust user management, potentially contributing to enhanced compliance and control.

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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.

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Cherrywork Accounts Payable Automation

Overview

What is Cherrywork Accounts Payable Automation?