Tungsten AP Essentials

Get Invoice Automation in the Cloud

Automate Accounts Payable processes in NetSuite - eliminate manual entry, streamline approvals, and seamlessly capture invoice data with Tungsten AP Essentials™ . Designed to be the best extraction solution on the market, Tungsten AP Essentials streamlines an organization’s entire invoice processing. It is truly multi-lingual and multi-currency, supporting a wide range of invoice origin and user interface languages based on over 25 years of invoice processing experience globally.

Capabilities include capture, line item matching, approvals, general ledger coding and ERP integration. Combined with NetSuite, you can reduce processing costs, speed invoice cycle times, improve supplier relationships and manage cash more effectively than ever.

Key Benefits

Up to 95% extraction rates - Tungsten AP Essentials boasts the industry’s best-in-class data extraction rates with up to 95% of data captured, and no less than 80%.  Adaptive, self-learning capabilities improve processing speed and precision over time as the application learns to locate invoice data. After extraction, incoming data is synchronized with master data, invoices are verified, and the resulting data and images are sent to NetSuite for processing.

 

• Fast and simple invoice access
• More early payment discounts and fewer late payment penalties
• Timely and accurate financial reports
• Supports over 25+ languages out of the box
• No invoices lost or forgotten
• No invoices paid twice
• No fraudulent invoices paid    

 

Customer Quote

“When we get an invoice through AP Essentials, we know the information is correct, and we don’t have to worry about it. We can concentrate that effort on other things. If we go a day without working in ReadSoft Online, we actually miss it, and it’s then that we realize how much ReadSoft is doing for our operation. That’s the ‘wow factor’—when we’re not working with it, we’re missing it.”

- My Cervin, AP Team Lead

Full Support for NetSuite Features and Capabilities

Integrates seamlessly with NetSuite - and supports full PO, Non-PO, and other invoice processing operations (such as matching, etc.) Status reporting is also available through NetSuite for monitoring invoice throughput and processing results. Together – Tungsten AP Essentials and NetSuite become the most advanced solution for AP Automation available. Experience:

 

• Mapping of NetSuite organizational data to Tungsten AP Essentials
• Capture, extraction and verification of all invoice data, automatically
• PO and invoice line pairing, 2-way match (invoice and PO), 3-way match (invoice, PO and goods receipt)
• Data synchronization of master data to support coding and validation, including vendor, GL, Purchase Order, currency, coding segments (dimensions) and tax codes
• Business rules for supplier checking, duplicates and purchase order validation
• GL coding of PO and non-PO invoices with line items
• Tax handling of sales tax, VAT and tax-exemptions
• Approval hierarchy-driven workflows can be linear, one step, parallel or automatic based on predefined constraints
• Approval workflows, including general ledger coding of non-PO invoices. Importing of general ledger account coding and NetSuite coding segments
• Final posting of PO invoices, non-PO invoices, PO credit notes and non-PO credit notes