OpenEnvoy

Overview

What is OpenEnvoy?

OpenEnvoy is a purpose-built AI platform for finance transformation, streamlining payables, receivables, contracts, and reconciliations. It seamlessly integrates with existing systems without requiring custom development or AI expertise, ensuring continuous innovation and efficiency.

Why Use OpenEnvoy?

OpenEnvoy excels by:

Streamlining Finance Processes: OpenEnvoy automates the AP process, providing real-time audit and maximizing efficiency and cash flow.
Touchless Processing: It eliminates manual keying, coding, and reconciliation for a “”touchless”” process, freeing up the finance team for higher-value work.
Revolutionary Accuracy: OpenEnvoy uses AI to audit line-level invoices against price lists, contracts, and other records to spot conflicts and eliminate losses.
Full Control Over Cash: It provides instant reconciliation and rapid approvals, ensuring accurate customer invoices and accelerating cash conversion.

Who is OpenEnvoy For?

OpenEnvoy caters to various industries:

Manufacturing: Achieve massive cost savings with touchless processing of all invoices at scale with 99% accuracy.
Retail: Improve cash flow by correcting receivables in advance and eliminating overpayments.
Supply Chain & Logistics: Remove friction from shipments and accelerate transactions with automated processing of large volumes of invoices and complex freight reconciliation in real-time.
Media & Advertising: Eliminate overpayments and reduce reliance on and strain on media operations teams.

In conclusion, OpenEnvoy is a valuable tool for finance professionals seeking to streamline processes, improve accuracy, and maximize cash flow. Its AI-powered automation and real-time audit capabilities make it an ideal solution for various industries.

Cancellation

Steps to Cancel OpenEnvoy Subscription.

Canceling your OpenEnvoy Subscription is a straightforward process. You can follow a few simple steps to initiate the cancellation or explore options to switch to a different plan. For detailed instructions, refer to OpenEnvoy Cancellation Guide.

Product FAQ

What is OpenEnvoy?

OpenEnvoy is a purpose-built AI platform for finance transformation, streamlining payables, receivables, contracts, and reconciliations. It seamlessly integrates with existing systems without custom development or AI expertise, ensuring continuous innovation.

How does OpenEnvoy improve cash flow?

OpenEnvoy delivers “”touchless”” AP and real-time audit to maximize efficiency and cash flow. It eliminates losses due to overbillings, fraud, and duplicates by auditing line-level invoices against price lists, contracts, and other records. This results in improved cash conversion and reduced costs.

How does OpenEnvoy support freight audit?

OpenEnvoy offers real-time, end-to-end freight audit complete with contractual compliance before payment. It performs pre, post, and secondary audits in real-time, eliminating wasted spend by identifying problematic receipts, unauthorized charges, and limiting overages according to company policy.

What are the benefits of using OpenEnvoy?

OpenEnvoy provides several benefits, including the ability to digitize AP across 100% of suppliers in just two months, scale touchless processing without the burden of “”no PO no Pay,”” and shift team members from manual clerical work to higher-value tasks. It also offers full visibility into spend, ensures an effective control environment, and complies with global tax regulations.

How does OpenEnvoy support Generative Analytics?

OpenEnvoy uses Generative Analytics to give Finance and business leaders full visibility into spend, suppliers, and contracts without sacrificing privacy or control. Users can ask OpenEnvoy questions in regular English and receive answers in the form of charts, tables, and graphs. This technology helps CFOs support the business better without hiring more data science or financial analysis experts.