Accounting Seed Unveils AP Automation: Optimizing Payments within a Single Platform

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Feb 06, 2024, 09:35 ET

COLUMBIA, Md., Feb. 6, 2024 /PRNewswire/ -- Accounting Seed, the #1 accounting solution built on the Salesforce Platform, unveiled its first product offering of the new year, AP (Accounts Payable) Automation. The launch of the new product highlights Accounting Seed's commitment to helping small-to-mid sized companies drive efficiency and maximize growth by running their accounting and payable processes within a single platform.

With AP Automation, customers can stop manually sorting through bills and using multiple systems to track and pay them, and instead take advantage of a fully automated process from receipt of invoice to payment to reconciliation—saving time, lowering processing costs, and strengthening internal controls. Accounting Seed users will also benefit by optimizing their cash flow process through better spend management and reducing fraud risk, while eliminating discrepancies caused by using multiple systems and manual entry.

"AP Automation is the answer to the market's desire for truly embedded finance," said Ryan Sieve, chief technology officer at Accounting Seed. "We know the entire AP process is cumbersome, but with AP Automation, we are enabling our customers to save time and streamline all the activities that touch the AP process. The Accounting Seed team is thrilled to bring this functionality to market and further our mission to help companies make faster and more accurate business decisions."

AP Automation brings three key features to market:

Email to payable: Automatically match invoices to vendor accounts and create payables directly from email.
Payment proposals: Optimize spending and stay within budget with the ability to quickly search, group, and seek approval for your recommended payments—while easily applying any credit memos on hand and taking advantage of early pay discounts.
Automated Payment Distribution: Set it and forget it! Automatically pay approved payments from your bank by your vendor's preferred payment method—whether it be card, ACH, or check—securely utilizing our top-rated invoice-to-pay partner, Edenred Pay. Payments are then automatically matched and cleared on the bank reconciliation.

As a global leader in invoice-to-pay automation, Accounting Seed selected Edenred Pay as their payment distribution partner based on expertise, history of client success, and comprehensive AP offerings. Edenred Pay plays an integral part in bringing Accounting Seed's AP Automation to market.

The launch of AP Automation comes shortly after Accounting Seed unveiled AR (Accounts Receivable) Automation. The first in a series of expanding automation capabilities, the combination of these advancements allows businesses to run their entire payment management process within their accounting system, built on their Salesforce CRM.

"AP Automation is designed to empower users with unparalleled efficiency and elevate their Accounting Seed experience," said Steve Lorenc, chief executive officer at Accounting Seed. "By streamlining both the AR and AP processes through enhanced functionality, Accounting Seed is enabling customers to achieve more with greater ease on a single platform, fostering a new era of productivity and growth."

About Accounting Seed

Accounting Seed was published on the Salesforce AppExchange as a native accounting solution in 2011, effectively bringing Accounting and Customer Relationship Management (CRM) securely under one roof. The native sharing of data on the Salesforce platform gives all departments a real-time view of business performance from sales to operations to finance—while enabling greater efficiency through automation and paving the way for financial growth. Learn more at www.accountingseed.com.

About Edenred Pay

Edenred Pay, an Edenred Company and the global leader in invoice-to-pay automation, provides an integrated platform, open architecture, and solutions that create frictionless processes and deliver value by enhancing visibility and monetizing AP. Visit www.edenredpay.com to learn more.

Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting over 60 million users and 2 million partner merchants in 45 countries via more than 1 million corporate clients. Edenred offers specific-purpose payment solutions for food, mobility, incentives, and corporate payments. Our purpose is to "Enrich connections. For good." with solutions that enhance users' well-being and purchasing power and foster access to healthier food, more environmentally friendly products, and softer mobility.

SOURCE Accounting Seed