Capital Expense Planning and Management

• Total Spend Visibility: Gain a comprehensive view of your organization's spending, from high-level overviews to specific invoice details, empowering you to track and analyze expenditures effectively.
• Efficient Project Management: Create subprojects to streamline the management of large-scale initiatives, ensuring better control and more efficient execution.
• Customizable Controls: Tailor the software to your unique requirements with flexible controls, enabling custom notifications, review routing, approval permissions, and role-based functions that align with your organization's financial processes.
• Automated Data Entry: Eliminate the manual effort of spreadsheet-based data entry by automating the process and managing information in a centralized database, minimizing errors and improving accuracy.
• Centralized Database: Access and manage all relevant data in one centralized location, simplifying information retrieval, and facilitating effective decision-making.
• Dashboards and Workbenches: Leverage user-friendly dashboards and workbenches to gain enhanced visibility into financial information, saving time compared to manual spreadsheet-based analysis.
• Spreadsheet Views: If you prefer using spreadsheets, spreadsheet views are available for a familiar interface while benefiting from the system's advanced capabilities.

Procurement/PO

• Streamlined Approval Routing: Customize approval routing to match your organization's procurement processes, ensuring efficient processing of purchase orders, reducing delays, and improving operational speed.
• Centralized Data Management: Consolidate procurement from all division/departments into a single system, providing you with centralized access and analysis capabilities, improving visibility and control over procurement activities.
• Streamlined Automated Processes: Streamline procurement processes by automating repetitive tasks, reducing errors, and accelerating the procurement cycle, enhancing overall efficiency and saving valuable time.
• Cost Savings and Maverick Spending Control: Unlock greater profitability by implementing strategic vendor management, optimizing procurement processes, and exercising effective control over maverick spending, empowering you to make informed financial decisions.
• Contract Management: Effectively manage vendor contracts, ensuring adherence to contractual obligations, minimizing overpayments, and fostering stronger vendor relationships, resulting in cost savings and improved supplier management.
• Mobile Access: Access procurement data anytime, anywhere, empowering you to monitor progress, approve purchases, and make informed decisions while on the move, expediting the procurement cycle.
• Advanced Reporting and Analytics: Leverage advanced reporting and analytics capabilities to gain deeper insights into procurement performance, identify opportunities for improvement, and make data-driven decisions that reduce costs and enhance efficiency.

Accounts Payable

• Automated Invoice Matching and Coding; Reduce processing time and eliminate errors by automating the invoice matching and coding process, enabling efficient invoice management and saving valuable time and resources.
• Streamlined Approval Routing: Streamline approval processes to increase efficiency and ensure timely payment of invoices. Reduce bottlenecks and improve cash flow management.
• Real-Time Tracking: Gain real-time visibility into invoice and payment statuses, enhancing control over financial operations and facilitating accurate forecasting and cash flow management.
• Outlier Notices: Detect and address outliers promptly with alerts for invoices that deviate from expected values. Enable proactive management and fraud detection to ensure financial stability and mitigate potential risks.
• Anomaly Detection: Identify missing or unexpected invoices, including regular expenses like utilities, reducing the risk of revenue leakage and errors or outages. Promptly address these anomalies to maintain financial accuracy and optimize cash flow management.
• Mobile Access: Stay on top of accounts payable processes while on the go with convenient mobile access, ensuring timely approvals and minimizing delays.
• Enhanced Security Measures: Protect sensitive financial data with multi-level user access, secure data storage, encryption, and other security features, ensuring compliance and mitigating risks.
• Analytics and Reporting: Leverage advanced analytics and reporting capabilities to gain deeper insights into financial performance, monitor key metrics, and make informed decisions based on comprehensive data analysis.
• Cost-effective Automation: Implement cost-effective software solutions that automate accounts payable processes, reducing expenses, and increasing profitability for your organization.

Payments and Disbursement

• Customizable Check Printing: Personalize checks to match your brand standards with NextProcess' configurable solution. Customize logos, fonts, and signatures to reinforce your organization's identity and professionalism.
• Efficient ACH Disbursements: Ensure prompt and reliable vendor payments with NextProcess' high-frequency ACH services. Gain insights into payment turnaround times for effective payment management and strong vendor relationships.
• Real-Time Payment Updates: Stay informed with immediate, real-time payment status updates. Keep your team and vendors in the loop, promoting transparency, minimizing errors, and enhancing accountability.
• Enhanced Segregation of Duties: Strengthen controls by outsourcing payment processing. Separate financial tasks to reduce fraud risk and ensure regulatory compliance.
• Secure Software and Facility: Safeguard transactions with NextProcess' secure software and facility. Protect against unauthorized access, ensuring the confidentiality and integrity of financial data.
• Expanded Payment Options: Boost vendor relationships and optimize cash flow with NextProcess' new payment choices. Earn cashback rewards and offer early payments, fostering partnerships and improving cash management efficiency.