GLOBAL PAYEX INC
( RTV )’ compared to ‘ goods return ’. Global PayEX ’ s reconciliation platform , AlgoriQ™ , automatically reads those incoming documents and reconciles the different document formats , deduction codes and terminologies . That gives time back to the finance teams in their clients ’ companies , who are no longer faced with the arduous task of having to sift through all this complex data .
In AP , the system works like a mirrorimage . Vendors can upload their invoices into a vendor portal , and the Global PayEX platform is able to auto-read these invoices and to convert into a standard format . This further helps to validate and automate the processing of that invoice into the customer ’ s ERP .
“ We intend to further enhance our AI capabilities via building a neural network that has 99 %+ accuracy in terms of reading any random document around the concept of account receivable and account payable ”
NARAYAN RAMAMOORTHY CHIEF REVENUE OFFICER , GLOBAL PAYEX INC
Using data to embed financial services into Global PayEX The end-to-end payments journey means that Global PayEX sits in the middle of a lot of data , which it can use to bring greater value for its clients . The platform can identify patterns of behaviour and learn about how customers pay their invoices , and , more importantly , when . If a customer is late with their payment , the system can obviously send reminders automatically and chase customers for money – but it is so intelligent that it is able to draw distinctions between different customers and understand when