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Invoice processing software for your enterprise subscriptions

Gain total visibility, automation, accuracy and efficiency for each and every invoice

Are you wasting copious amounts of time to gain a true understanding of all costs on all your vendor invoices, and manually accepting or rejecting all charged enterprise subscription costs?

Optimize Spend* provides a fast, paperless and rules-based process delivering automation of the invoice entry, reconciliation, approval and payments lifecycle.

(*the best of FITS & INFOmatch combined into a best-of-breed solution with major enhancements)

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Streamline your entire invoice lifecycle

Managing invoicing and payment workflows is complex. Firms usually take a huge amount of products – such as market data, research, software & other information services – whereby the vendors’ billing policies differ extensively. The invoice approval and reconciliation process to identify billing errors and ensure you’re not overpaying can be very manual or, in some cases, nonexistent.

Automated invoice processing software can help you by providing end-to-end management and oversight of the invoicing and payments workflows within the entire organization.

Ready to gain total visibility, automation, accuracy & efficiency for all your invoices?

Learn how to streamline your entire invoice lifecycle.

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End-to-end management of invoicing & payments workflows

Our enterprise spend management solution – Optimize Spend – provides a fast, paperless and rules-based process delivering automation of the invoice entry, reconciliation, approval, and payments lifecycle. Reducing the error-prone reliance on manual processing and creating a customized audit trail for compliance and reporting purposes, Optimize Spend provides end-to-end management and oversight of the invoicing and payments workflows.

OS Invoice Processing 2021_diagram

With our invoice processing software you gain total visibility, automation, accuracy and efficiency for each and every invoice, from it being due to being paid.

invoice-processing-screenshot

 

Expected invoices

  • Predict upcoming invoices based upon contracts & inventory
  • Detect overdue invoices
  • Proactively manage your complete invoicing pipeline

Receiving invoices

  • Upload of full vendor invoice details
  • Interfaces to major invoice formats – such as Bloomberg SID reports

Reconciling invoices

  • Vendor-specific interfaces to automatically reconcile all your invoices – such as Bloomberg, Refinitiv and LexisNexis invoices
  • Automatically highlights variances between inventory & invoice detail
  • Store discrepancies for spending analysis

Allocating expenses

  • Automatically generates invoice allocations based on your inventory
  • Allocate to any combination of department, user, vendor, and platform

Invoice approval workflow

  • Automated rule-based approval routing – including single click approval
  • Fast review of key details & full historical audit trail
  • Auto reminders for overdue approvals

Interfacing to Accounts Payable

  • Automatically send approved invoices to AP, and receive payment information back
  • Know the payment status of each and every invoice
  • Compatible with all major AP systems
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Get in touch

Optimize Spend serves several types of organizations and supports many departments. Whether you are an international investment bank or a smaller asset manager, a hedge fund or a broker, a data vendor sourcing market data, a professional service organization or a blue-chip company — Optimize Spend enables any firm to optimize their enterprise subscription spend.
Enterprise spend management

Other Optimize Spend processes

Key Benefits
  • Full transparency & control
  • Cost optimization
  • Secured compliance
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