Tools designed to transform your financial operations.
Routable offers a suite of features designed to simplify B2B payments. This includes tools for managing vendor information, automating accounts payable processes, and offering diverse payment methods. The platform also provides strong security measures and integrates with existing financial systems for efficient operation.
Routable simplifies the entire B2B payment lifecycle, starting from invoice receipt through to final reconciliation. Our system automates the capture of invoice data, reducing manual entry errors and accelerating processing times. Companies can set up custom approval flows based on amount, vendor, or department, ensuring every payment adheres to internal policies before funds are disbursed.
The platform provides a clear, centralized dashboard where users can track the status of all payments in real-time. This visibility means finance teams always know where a payment stands, from 'pending approval' to 'sent' and 'reconciled'. This eliminates the need for constant communication back and forth with vendors about payment status, freeing up valuable time for strategic financial planning. Routable's intelligent routing ensures that invoices are directed to the correct approvers without delay.
Furthermore, Routable supports various payment schedules, allowing businesses to execute one-time payments, recurring payments, or scheduled future payments with ease. This flexibility helps manage cash flow effectively and meet vendor terms. The system automatically creates a detailed audit trail for every transaction, providing a complete history for compliance and reporting purposes.
Routable centralizes all vendor information into a single, accessible database, eliminating scattered spreadsheets and disparate systems. This includes contact details, banking information, payment history, and tax documentation. When a new vendor needs to be added, Routable offers an automated onboarding portal that guides vendors through submitting their required information, including W-9s or W-8Bens, directly into the system. This process significantly reduces the administrative burden on your team.
By providing vendors with a direct portal, Routable improves transparency and strengthens relationships. Vendors can view their payment status and history, which reduces the need for them to contact your team directly for updates. This self-service approach enhances vendor satisfaction and operational efficiency for your finance department.
Routable's AP automation capabilities are designed to transform accounts payable from a cost center into a strategic asset. The system uses advanced technology to capture and interpret invoice data, whether from emailed PDFs or uploaded files. This data is then automatically matched against purchase orders or contracts, significantly reducing manual data entry and the potential for human error. Discrepancies are flagged for review, ensuring accuracy before any payment is initiated.
"Automating accounts payable processes can reduce processing costs by up to 80% and improve invoice cycle times by 70% or more." – IOFM
Our automation extends beyond data capture to the entire approval workflow. Invoices are routed to the appropriate approvers based on predefined rules, ensuring proper authorization without delays. This digital trail provides full visibility and accountability for every step of the AP process. Furthermore, Routable helps identify potential duplicate invoices, preventing erroneous payments and protecting your company's financial resources.
Routable provides a wide array of payment methods, giving businesses the flexibility to pay vendors in the way that best suits both parties. This includes traditional ACH transfers and domestic wire transfers for fast, reliable payments within the United States. For international transactions, Routable supports a variety of global payment options, making it easy to pay vendors in their local currency.
Routable handles currency conversions transparently, showing you the exact exchange rate and fees before you confirm a payment. This global reach allows businesses to expand their vendor network without being constrained by geographical boundaries or complex international banking procedures, making cross-border payments as straightforward as domestic ones.
Security is a core principle at Routable. We employ multiple layers of protection to safeguard your financial data and transactions. All data transmitted through our platform uses 256-bit SSL/TLS encryption, ensuring that information remains confidential and protected from unauthorized access. Access to the platform is secured with multi-factor authentication (MFA), adding an extra layer of protection beyond just passwords.
Routable is PCI DSS Level 1 compliant, the highest level of certification for handling cardholder data, even though we primarily process bank transfers. This demonstrates our commitment to maintaining stringent security controls. Our infrastructure is hosted on secure cloud environments, which undergo regular security audits and penetration testing to identify and address potential vulnerabilities. Data is also backed up frequently to ensure availability and prevent loss.
Beyond technical security, Routable helps businesses maintain regulatory compliance. We assist with collecting necessary tax forms like W-9s and W-8Bens, and our system generates detailed audit trails for every transaction, simplifying financial reporting and compliance checks. This focus on security and compliance provides peace of mind, knowing your financial operations are protected and adhere to industry best practices.
Routable is designed to fit effortlessly into your existing financial technology stack. We offer direct integrations with leading accounting software, ERP systems, and other financial tools. This connectivity means that payment data, vendor information, and reconciliation details can flow automatically between Routable and your other systems, eliminating manual data entry and ensuring data consistency across your organization. Popular integrations include QuickBooks, NetSuite, Xero, and Sage Intacct, among others.
Our reporting capabilities provide deep insights into your payment activities and spending patterns. Routable generates customizable reports that can track payment statuses, identify spending trends by vendor or department, and analyze cash flow. These reports are crucial for financial planning, budgeting, and performance analysis. Users can export data in various formats for further analysis or to feed into other business intelligence tools.
The ability to integrate and report effectively means that finance teams gain a complete, accurate, and up-to-date view of their accounts payable and payment operations. This transparency aids in making informed financial decisions and identifying areas for cost savings or process improvements. Routable acts as a central hub, connecting disparate financial processes and providing the intelligence needed to manage them effectively.
| Feature Category | Key Benefit | Routable Specifics | Impact on Operations |
|---|---|---|---|
| Payment Workflows | Faster processing, fewer errors | Automated invoice capture, custom approval flows | Reduces manual effort, improves payment accuracy |
| Vendor Management | Centralized data, simplified onboarding | Self-service vendor portal, automated W-9/W-8BEN collection | Enhances vendor relations, cuts administrative time |
| AP Automation | Reduced costs, greater control | AI-powered invoice matching, duplicate payment detection | Minimizes fraud risk, optimizes cash flow |
| Payment Options | Global reach, diverse methods | ACH, international wires, local bank transfers, checks | Supports international growth, meets vendor preferences |
| Security & Compliance | Data protection, regulatory adherence | PCI DSS Level 1, 256-bit encryption, MFA, audit trails | Ensures data safety, simplifies audits |
| Integrations & Reporting | System connectivity, financial insights | QuickBooks, NetSuite, Xero integrations, customizable reports | Streamlines data flow, supports strategic decision-making |
Routable's core payment processing features include automated invoice capture, customizable approval workflows, real-time payment tracking, and support for various payment schedules. These features work together to accelerate payment cycles and reduce the manual effort involved in disbursing funds, ensuring timely and accurate transactions.
Routable improves vendor management by centralizing all vendor data, offering a self-service vendor portal for information updates, and automating the collection of tax forms like W-9s and W-8Bens. This approach reduces administrative burden, enhances data accuracy, and fosters stronger relationships with your suppliers through improved transparency.
Routable provides intelligent AP automation that includes automated invoice data capture, intelligent invoice matching against purchase orders, and dynamic approval routing. It also helps detect duplicate invoices and provides a clear audit trail for every transaction, significantly reducing manual errors and increasing efficiency in your accounts payable department.
Yes, Routable is equipped to handle international payments efficiently. It supports international wire transfers and local bank transfers in various currencies, allowing businesses to pay vendors across borders with transparent exchange rates and fees. This global capability expands your reach and simplifies cross-border financial operations.
Routable ensures data security through 256-bit SSL/TLS encryption, multi-factor authentication, and PCI DSS Level 1 compliance. The platform also assists with regulatory compliance by facilitating the collection of necessary tax forms and maintaining detailed audit trails for all transactions, protecting your financial data and operations.
Routable