Purchase Ledger

CORTEX streamlines the invoice validation and payment process, enhancing the efficiency of financial transactions with vendors and partners. A key feature is its ability to validate invoices received. For vendors, it ensures that the lines on each invoice accurately reflect the ordered products. When dealing with partners, it cross-checks the invoice lines against previously received usage data, ensuring that billing is based on actual usage.

Once the validation is complete, CORTEX integrates seamlessly with the financial accounting system to upload the verified invoices. It can auto-approve payments for invoices that meet predefined business criteria, streamlining the payment process. However, in instances where invoices require manual approval, CORTEX facilitates this process. It issues notifications to the relevant approval team and provides them with a web interface containing detailed data from the invoice for review. This interface also allows for the input of the approval decision, making the approval process straightforward and efficient.

Following the approval, CORTEX initiates the payment of these invoices through the financial accounting system. This integration ensures a smooth, error-free transaction process. CORTEX maintains a high level of communication throughout this invoice management cycle by issuing progress notifications at critical stages. These notifications are sent to internal teams and external recipients as needed, keeping all relevant stakeholders informed about the status of invoice processing and payments.