ApprovalMax Features

Consolidate information from multiple sources or multiple entities

Classify information by category, supplier, or supplier

Integrate with external sources for market intelligence

Integrates with ERP systems general ledgers for transfering of AP transaction data

Ability to cleanse and consolidate AP data

Provide benchmarking options for comparison with peers

Include standard spending KPIs that can be customized

Deliver reports for compliance purposes

Analysis that identifies errors in AP processes such as duplicate payments, anomalies, and fraud

As reported in 10 ApprovalMax reviews. Track invoices based on due dates to identify overdue payments

Ability to compare AP automation metrics with other companies 10 reviewers of ApprovalMax have provided feedback on this feature.

Monitor KPIs such as time to process an invoice or erroneous payments This feature was mentioned in 10 ApprovalMax reviews.

Track invoices based on due dates to identify overdue payments

Analyze variations between incoming and outgoing cash

Monitor KPIs such as time to process an invoice or erroneous payments

Track different types of payment such as deposits or partial payments

As reported in 10 ApprovalMax reviews. Provide features to capture invoices such as import or scanning

As reported in 10 ApprovalMax reviews. Allow suppliers to submit invoices using an online portal

Deliver a central repository of AP documents, such as POs and invoices This feature was mentioned in 10 ApprovalMax reviews.

Based on 10 ApprovalMax reviews. Ability to match AP invoices to POs, contracts, or payments

Identify incomplete or late supplier payments 10 reviewers of ApprovalMax have provided feedback on this feature.

As reported in 10 ApprovalMax reviews. Include workflows for approvals and invoice processing

Based on 10 ApprovalMax reviews. Comply with local and global tax regulations for collections

Include workflows for approvals of invoices or payments

Process multiple invoices without human intervention

Allow users to consolidate multiple invoices into one

Match invoices with purchases and sales orders, as well as with payments

Provide integration with accounting and financial management software This feature was mentioned in 11 ApprovalMax reviews.

Integrate with payment gateways and enterprise payments software

Deliver integrations with accounting modules of ERP systems

Provide integration with accounting and financial management software

Integrate with payment gateways and enterprise payments software

Deliver integrations with accounting modules of ERP systems

Sync with company accounts to transfer payments for approved invoices

Provide standard invoice templates that can be customized by users

Ability to convert invoices to digital formats such as PDF

Automatically generates invoices at pre-defined time intervals

Based on 10 ApprovalMax reviews. Reduces future risks through root cause analysis and process improvement

Reduces frequency of errors, identifies risk and improves efficiency 10 reviewers of ApprovalMax have provided feedback on this feature.

Based on 10 ApprovalMax reviews. Scores suppliers and employees based on risk factors

Based on 10 ApprovalMax reviews. Identifies and recoups funds and prevents errors from happening again

Offers reporting to aid in minimizing future lost profits and process breakdown 10 reviewers of ApprovalMax have provided feedback on this feature.

Approve, reject, or query historical payment transactions to identify anomalies

Recover overpayments, duplicate payments, or unused credits from suppliers

Includes a library of audit-tested filters to identify AP outliers that are outside company policy This feature was mentioned in 10 ApprovalMax reviews.

Based on 10 ApprovalMax reviews. Conducts a post-audit analysis of large volumes of data to identify historical payment errors and automatically generate claims

Detects and prevents a wide range of overpayment errors 10 reviewers of ApprovalMax have provided feedback on this feature.

Detects and prevents a wide range of duplicate payments 10 reviewers of ApprovalMax have provided feedback on this feature.

Enables automatic checks of new vendors being set up in the system to combat potential billing schemes This feature was mentioned in 10 ApprovalMax reviews.

Based on 10 ApprovalMax reviews. Generates comprehensive data needed to conduct a thorough investigation

Based on 10 ApprovalMax reviews. Provides continuous, proactive fraud monitoring across multiple systems and data formats

Constantly evaluate AP transactions to optimize workflows

Improves management oversight by reconciling external data against internal transaction data

Strengthens process controls by using analysis to proactively reduce errors before they happen and detect fraud risk

Supports Microsoft Windows operating system

Supports macOS operating system

Supports Linux operating system

Supports a variety of file types (E.g. DOC, XLS, PPT, PDF, JPG, PS, TIFF, etc.)

Processes data from unstructured and semistructured data sources

Allows for mobile upload of documents and images

Provides AI and machine learning tools to accelerate data analysis

Provides image enhancement before processing (E.g. rotation, image cropping, removing noise, enhancing contrast, etc.)

Integrates with other applications to support document storage, document management, process automation and/or workflow management

Supports the conversion of uploaded documents to other file types

Supports operations on both Windows and Mac

Reports on the status of invoices or payments

Run reports on customer credit

Tracks all transactions, from issuing invoices to payment reminders to receiving payment

Integrates with accounting or similar platforms

Integrates with ERP systems

Integrates with Corporate Performance Management platforms

Manages credit limits based on customer credit scores, payment history, or other financial metrics

Creates or imports invoices

Collects different payment types and manages payment terms

Offers customizable approval processes for all types of transactions

Reconciles payments to invoices to ensure matching

Makes informed choices based on available data and objectives

Capability to perform complex tasks without constant human input

Works across multiple software systems or databases

Improves performance based on feedback and experience

Anticipates needs and offers suggestions without prompting

Capability to perform complex tasks without constant human input

Anticipates needs and offers suggestions without prompting

Makes informed choices based on available data and objectives

Capability to perform complex tasks without constant human input

Sends automated messages and reminders, resolves disputes, or does proactive outreach.

Responds to basic questions from inbound emails.

Analyzes past transactions to make a prediction of when future payments are likely to be paid.