Scottsdale, AZ (June 30, 2023) — FormedAI, a robust mid-market developer of Business Process Automation Software has entered a strategic alliance with ECI Software Solutions, a leader in cloud-based business management (ERP) solutions to offer a first-class integration for accounts payable automation, providing automation for both processing of invoices and vendor payments.

FormedAI’s powerful digital accounting automation platform will natively integrate with e-automate to streamline and standardize AP workflows and vendor payments, to help businesses transform their accounts payable function into a revenue-generating center of the company, by earning rebates when making vendor payments.

This new integration between FormedAI and e-automate will allow e-automate users to reduce their manual tasks by as much as 80% by providing secure and automated workflows for accounts payable and vendor payments. See the two-minute Formed AI Invoice to Pay video.

Available Immediately – Vendor Payment Automation

Turn accounts payable into a revenue-generating center of your dealership
Earn Rebates when processing vendor payments via virtual credit cards
Automate processing vendor payments (check, ACH and virtual card)
Make vendor payments virtually
Increased control and visibility into vendor payments and cash flow management
Significant transaction savings (check and ACH)
No more supplier enablement, stopped payments and refunds, supplier records updates
Prevent ACH errors
Avoid payment fraud by automating vendor payments via a secure portal

AP Automation – Automate Processing of Invoices

Capture invoices digitally with a guaranteed 99% accuracy, including handwritten or unstructured
Automatically reconcile invoices to purchase orders and goods received “3 way match”
Attach proper GL codes (summary or line item)
Workflows automatically look up payment terms and discounts
No more missing early payment discounts
Eliminate duplicate payments
Automatically apply credits
Route invoices to approvers or back to vendors if errors detected
No more data entry
Instantly gain visibility via built-in dashboards into which vendors are owed, how much is owed and when it is due.
No more late fees, No more keying errors, ensure you are paying the contracted pricing, instant retrieval of invoices and no more lost invoices

The e-automate and FormedAI integration is available for self-hosted users. Support for the cloud version of e-automate customers will follow in late Q3.

To learn more, contact a FormedAI subject matter expert.