Masters India Accounts Payable

Masters India Accounts Payable is a software solution designed to automate the accounts payable process for enterprises, aiming to improve efficiency in procurement on a timely basis. According to the vendor, this solution caters to the needs of finance and accounting professionals, procurement managers, and business owners, as well as industries such as retail, e-commerce, and manufacturing.

Key Features

Bill Inbox: The software streamlines the process of receiving and organizing bills by utilizing AI and ML invoice OCR software to parse incoming bills. It enables digital storage for easy access and accurate data extraction.

Business Management: Better control and visibility over the entire accounts payable process are facilitated through the management of payables at the company and division level across departments. This aims to enhance collaboration and communication between different departments.

User Management: The software ensures data security by providing role and permission-based access for users. It allows control over access to sensitive financial information and enables the assignment of specific roles and responsibilities.

Vendor Payment: The solution simplifies the process of making payments to vendors by automating AP invoice payments, reducing manual effort and time required.

Spend Analytics: Gain insights into spending patterns and identify areas for cost optimization through the analysis of AP process data. This supports data-driven decisions to improve the efficiency and effectiveness of the accounts payable process.

Accessible from Anywhere: Manage AP automation from any location using any device (web, mobile, desktop). The software provides role-based access to team members based on their responsibilities.

Sync with your ERP: Seamlessly integrate and synchronize data from Masters India Accounts Payable Software with various business tools or ERP systems, ensuring smooth data flow without disruption.

Vendor Portal: Simplify vendor management, verification, communication, and sharing of POs, invoices, and payments. Verify GSTIN and MCA status of vendors and generate credibility scores based on verification.

Approval Workflow: Automate the approval workflow for invoices and purchase requisitions, streamlining the process and reducing manual intervention through defined checks and balances.

Manage Delivery Proof: Keep accurate documentation and verification of goods and services received by tracking delivery proof for goods received and maintaining records of goods received notes (GRNs) and service received notes (SRNs).