Newgen Software announced that Newgen’s accounts payable solution is recognized among 33 notable vendors in Forrester’s ‘The Accounts Payable Invoice Automation Landscape, Q4 2023’ report. This report assists CFOs, controllers, business leaders, and finance and payment professionals in understanding the value that can be expected from an APIA vendor and identifying the most effective and cost-efficient invoice automation solution for their business.
Newgen’s Accounts Payable Solution, built on NewgenONE—a low code platform—is strategically designed to guide organizations along the digital transformation journey to reach the next level of maturity by providing an end-to-end solution per industry expectations and best practices. This solution streamlines the complete finance process, from omnichannel invoice capture, multi-engine OCR extraction with voting logics, AI/ML validation, touchless processing, posting to ERP, payment processing, and archiving the Invoice document by automating standard operating procedures from initiation to completion. Inbuilt spend management provides tracking spending in real-time through Newgen’s Platform, where all the business spending data can be Centralized, Compiled, and Organized.
Organizations can leverage this solution to achieve true hyperautomation by using the best-in-class technology to achieve end-to-end automation. It also enhances overall process performance, improves SLAs, and ensures a seamless user and vendor experience through a user-friendly vendor collaboration portal.
“At Newgen, we are committed to transforming the finance and accounts function by understanding the unique needs and expectations of finance, vendors, and other stakeholders. Our rich experience of over 30 years in invoice processing helps organizations cover their legacy to modern expectations being met and act as a launch pad for business inclusive strategies, which we believe this report acknowledges as well,” said Runki Goswami, Head of Marketing, Newgen Software.
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