Alpharetta, Georgia – January 25, 2021 – The advent of the Digital Age brought about limited advances in business procurement practices. The same original problems continued to persist, as not one new piece of software, or SaaS Platform, offered an end-to-end solution. That is, until now.
Artificial Intelligence, AI, had been seeing major advancements and was being used in more and more applications. Now it was time for AI to be introduced into a procurement application. Skyscend stepped forward to integrate AI into their procurement application and finally address the major problems with existing Invoicing Applications.
The team at Skyscend were extremely excited when they recently launched their revolutionary new invoice management solution. It was instantly recognized as the next generation of such applications. Skyscend Pay uses AI powered smarts to eliminate the friction in invoice processing and enable intelligent, context-aware features.
During a recent press event, Heera Garia, CTO of SkyscendPay, made these comments, “Since the pandemic, we have all done our best to help our fellow man, despite the difficulties. We’ve maintained social distancing, crafted and adopted new processes to maintain safety in the workplace, and have answered the calls for new products and services adapted to our current climate.”
He went on to say, “Digital transformation is touching all aspects of business in every industry so why leave Procurement out of it. At Skyscend we are using cutting edge technology such as AI, blockchain and mobile first approach to solve procurement needs.”
This helps suppliers get the capital they need quickly, while providing much appreciated savings to buyers. While the specific terms are fully user configurable, Dynamic Discounts could be utilized to apply 1% discounts for a Net 45 pay term, 2% for Net 30, or 3% for immediate payment.
Features & Benefits of Skyscend Pay:
- Quick, easy to use invoice uploads: Rather than relying on slow, inefficient manual data entry or cumbersome, fragile rule-based OCR, Skyscend Pay employs state-of-the-art AI to intelligently import invoices. The AI contextually parses invoices, so even completely novel formats can be understood.
- Sane error correction and reconciliation: Errors are all too common when dealing with invoices. Oftentimes, dealing with errors necessitates time consuming discussions between buyers and suppliers. Even simple errors often result in lengthy email threads to ensure there are no misunderstandings between each party. Skyscend Pay’s Supplier Side Error Correction obviates this process.
- Out-of-the-box fully integrated with popular ERPs and Procurement Networks: It is difficult to find a software solution that meets one’s needs, but often even more difficult to get that solution to play nice with the rest of the software stack.
- Fully customizable to address unique requirements: Skyscend Pay can adapt to better fulfill any organization’s needs. For example, configure whether invoice validation is done by the Supplier or the Buyer’s AP department or use web-hooks to trigger custom workflows on events.
- A central portal with comprehensive access to features, analytics, and data: Skyscend Pay consolidates data from disparate sources into a single, easy-to-use interface. View and manage invoices, communicate with suppliers or clients, and view curated analytics – all without switching a tab.
- Dynamic Discounting: This helps suppliers get the capital they need quickly, while providing much appreciated savings to buyers. While the specific terms are fully user configurable, Dynamic Discounts could be utilized to apply 1% discounts for a Net 45 pay term, 2% for Net 30, or 3% for immediate payment.
Consider this: Reduce the workload by waving manual data entry goodbye. Sophisticated AI automates the end-to-end invoice process – from data capture to error reconciliation. Understand the hidden patterns in the sub-ledger data. Their AI surfaces actionable strategic data through advanced big data analysis techniques.
About Heera Garia:
Heera Started with the company in 2020. Heera has deep expertise in leading digital transformation initiatives across multiple industries such in Telecommunication, Retail, Healthcare, High Tech and Finance. Operated as divisional CIO of Fortune 20 company and having worked in mid-size and startup companies, Heera has a deep understanding in leading digital transformation for companies at various stages of IT maturity. By applying innovative solutions through modern technology stack to not only solve business problems but also to drive business by creating new opportunities.
Heera earned his Master of Science in Technology Management – University of North Carolina at Greensboro, NC & Bachelor of Engineering in Computer Science – Mumbai University, India. He also holds a patent on Method and System for Crowd-Sourcing Customer Care platform to gain efficiencies and transform consumer’s contact center experience.
Skyscend is a procurement product and services firm led by the most experienced team in the industry. They have one goal in mind – helping clients achieve procurement excellence. Founded in 2016, the company is dedicated to spend management and delivering services across the source-to-pay spectrum.
Our goal is to find the most creative, most efficient, and most effective way to help procurement needs with the help of top-of-the-line supply chain solutions. Their strength is in their breadth and depth of experience. Skyscend’s team of Six Sigma-trained spend management experts have helped dozens of Fortune 500 companies develop category management strategies, deliver complex sourcing initiatives, implement new technologies, and transform their entire procurement process.
For complete information, visit: https://skyscendpay.com