PRESS RELEASE 02/05/2019 – Medius and ACOM announce a new strategic partnership with the launch of a joint “Invoice-to-Pay” solution for enterprise businesses. The collaboration delivers unprecedented levels of automated and completely touchless invoice and payment processing for accounts payable, eliminating manual and paper-intensive processes and increased efficiency beginning at invoice capture and approval, through direct cash settlement.
Expanding on the benefits from a touchless invoice process, MediusFlow users are now able to easily pay 100% of their supplier invoices electronically, producing an end-to-end procure-to-pay solution to decrease AP costs and further extend their visibility and control over cash management.
The new “invoice-through-pay” solution integrates MediusFlow’s best-in-class AP and e-Procurement automation with ACOM’s intelligent payment automation platform.
A global leader and AP Automation innovator, MediusFlow captures invoice data in real-time upon enterprise receipt, verifies, matches and then processes the information into a fully digital workflow for approval routing, distribution and ERP coding and posting for payment. ACOM’s intelligent payment automation extends the paperless experience, processing the payments though one seamless and centralized platform using a single payment file across all supplier disbursements; ACH, card, EFT, global payments, checks – virtually any way suppliers prefer to be paid.
“Eliminating the complexity of paper-based, manual processing creates a dramatic increase in efficiency, speed and accuracy for accounts payable. This powerful joint solution solves two of the major issues for AP and financial operations – manual, paper-based invoice and check processing. “Invoice-to-Pay” combines two best-in-class solutions, enabling finance departments to streamline invoice processing and save significate time and cost while maintaining visibility right through to payment settlement,” said Marc Bandini, President Americas of Medius.
“ACOM’s payment and supplier management experience enables Medius users to pay all of their invoices electronically, creating a truly end-to-end solution for AP, automated directly through the payment transaction clearance and reporting. Combining our intelligent payment platform with MediusFlow provides organizations with unparalleled visibility, expanded cash management capabilities and the opportunity to generate revenue directly from their supplier payments,” says Jim Scott, ACOM Senior Vice President.
Medius: AP Invoice Automation Solutions
Medius is a leading global provider of accounts payable (AP) invoice automation solutions helping companies drive their business forward by providing best-in-class process efficiency and greater financial control. Our cloud solution MediusFlow enables unprecedented levels of automated and truly touchless invoice processing, shortened lead times, improved vendor relationships as well as greater control and visibility of financial metrics.
Founded in 2001, Medius is owned by the global investment firm Marlin Equity Partners. It has over 3,000 customers worldwide, 220 employees and offices in Sweden (HQ), the United States, Australia, Denmark, Norway, the Netherlands and Poland. For more information, please visit mediusflow.com.
ACOM: AP Payment Cycle Automation
With over 25 years in financial technology and 2,500 customers, ACOM gives organizations the power to automate AP payment cycles to eliminate manual payments, reduce costs and to mitigate financial & compliance risk.
The ACOMPAY cloud-based platform enables companies to pay their supplier invoices through a single payment file regardless of payment type, making them 100% paperless for payment processing on their first day of service. Companies have greater visibility and control over AP; enabling financial managers to be more strategic with a more accurate view of their spend; to better manage outbound cash flows and extend DPO to increase cash on their balance sheets.
ACOM’s comprehensive supplier enrollment, on-boarding and continuous management for buyers and their suppliers is provided as part of the service, which eliminates any burden on AP and financial staff.
Organizations also have the advantage of taking accounts payable from a “cost center” to a revenue center” by generating revenue directly from their supplier spend.