Medius

What is Medius?

Medius is an autonomous Accounts Payable (AP) automation software designed to transform the entire invoice-to-pay lifecycle. Powered by agentic AI, the platform understands, learns, and acts on invoice data to minimize manual intervention and maximize control over corporate spend. Trusted by over 3,000 companies worldwide, Medius streamlines AP operations by eliminating paper-based processes and manual tasks like data entry, matching, and invoice processing. The primary goal of the software is to provide finance teams with complete visibility into invoices, spend, and cash flow, enabling them to close their books accurately and on time.

Why Choose Medius?

• Eliminate Manual Work: By automating invoice capture, data entry, and matching, Medius frees up AP teams from tedious, error-prone tasks, allowing them to focus on more strategic activities.
• Gain Full Visibility and Control: The software provides a centralized view of all invoices and financial data, offering real-time visibility into spend and cash flow. This control helps ensure timely and accurate financial closing.
• Reduce Fraud and Risk: With built-in AI and machine learning, Medius proactively detects potential fraud, duplicate payments, and policy violations, automatically flagging and mitigating risks across the AP lifecycle.
• Enhance Supplier Relationships: The platform includes a self-service portal and an AI-powered conversational tool that allows suppliers to get updates on invoice and payment status automatically, reducing inquiries to the AP team and fostering better partnerships.
• Ensure Global Compliance: Medius helps businesses stay compliant with complex global e-invoicing and tax mandates, adapting to different regulatory environments with ease.
• Seamless ERP Integration: With over 100 pre-packaged and fully managed connectors, Medius integrates smoothly with most leading ERP systems, avoiding the high costs and long timelines of custom integration projects.

Advanced Features of Medius

• AI-Powered Invoice Capture: Intelligently extracts invoice data with high accuracy, eliminating manual entry. Every invoice is automatically archived, ensuring complete traceability for audits.
• Autonomous Invoice Processing: The system automates matching, coding, and routing, with SmartFlow reaching 95%+ coding precision after learning from just two invoices. This helps AP teams focus on genuine exceptions.
• Medius Copilot (AI-Assisted Approvals): A conversational AI assistant grounded in company data that answers approvers' questions in real-time, facilitating faster, more informed decisions and increasing on-time payments.
• Proactive Fraud & Risk Detection: Machine learning algorithms continuously monitor transactions to identify and flag anomalies, suspicious activity, and potential fraud before payments are made.
• Medius Supplier Conversations: This generative AI tool understands supplier email inquiries and responds automatically with accurate invoice and payment status information, reducing inbox management time from hours to minutes.
• AI-Powered Statement Reconciliation: Automatically matches supplier statements against invoices in the system to quickly identify missing invoices, prevent duplicate payments, and confirm receipt of goods or services.

Key Capabilities of Medius

• AP Automation: The core engine for capturing, processing, approving, and paying invoices efficiently.
• Payment Automation: Streamlines and secures the entire supplier payment process, reducing complexity and fraud risk.
• Spend Management: Provides the tools and analytics needed to control and optimize organizational spend.
• e-Invoicing & Compliance: Ensures adherence to ever-changing global e-invoicing and tax regulations.
• Analytics and Reporting: Delivers actionable insights into AP performance, spend patterns, and cash flow management.
• ERP Integration: Offers a robust library of pre-built connectors for seamless integration with enterprise resource planning systems.

How to Use Medius?

1. Capture: Invoices are received from suppliers through channels such as paper, email, EDI, and e-invoicing and are automatically ingested into the system. AI-powered data extraction captures relevant information without manual keying.
2. Match and Code: The platform automatically performs multi-way matching of invoices against purchase orders and goods receipts. It also intelligently codes invoices based on historical patterns and business rules.
3. Approve: Invoices are automatically routed to the designated approvers based on configurable workflows. Approvers can use the Medius Copilot AI to ask questions and make decisions quickly.
4. Detect Risk: Throughout the process, the system's AI continuously scans for potential fraud, duplicates, and other anomalies, flagging any exceptions for review.
5. Pay: Once an invoice is fully approved, it is queued for payment. Medius Payments automates the execution of payments, simplifying the process while enhancing security.
6. Reconcile and Analyze: After payment, all data is reconciled. Finance teams can use the analytics dashboard to monitor key performance indicators and gain deep insights into the entire invoice-to-pay cycle.

Medius Pricing

Medius pricing details are available on request on techjockey.com.

The pricing model is based on different parameters, including extra features, deployment type, and the total number of users. For further queries related to the product, you can contact our product team and learn more about the pricing and offers.