Accounts Payable Automation FAQs

General Centime AP Automation FAQs

What is Centime AP automation?

Centime’s AP automation platform digitizes and streamlines the accounts payable process, from invoice capture and approvals to payments and reconciliation. It automates manual tasks, reduces errors, and provides real-time visibility into your cash flow.

How does Centime’s AP automation software work?

Centime integrates with your accounting system to automatically capture, categorize, and code invoice data. Once invoices are approved, they are posted directly into your ERP system. This helps streamline payment planning and provides clear visibility into your cash position.

What are the benefits of Centime’s AP automation?

With Centime, you can optimize your AP process by reducing manual work, cutting down on errors, improving vendor relationships, and optimizing cash flow. The software also enhances visibility into financial data, enabling better decision-making.

How long does it take to implement Centime AP automation?

Centime's implementation timeline is flexible, but most businesses can go live within 4-6 weeks. We provide dedicated support throughout the onboarding process to ensure a smooth transition.

How does AP automation reduce invoice processing costs?

Centime’s platform eliminates manual data entry, accelerates approvals, and reduces errors, leading to lower invoice processing costs. Automated workflows cut down on delays and help avoid late fees, providing additional cost savings.

Centime Payments and Integrations

What payment methods does Centime support?

Centime supports multiple payment methods, including checks, ACH, and virtual cards. Virtual cards come with the added benefit of cash-back rebates, turning routine payments into opportunities for savings.

Can Centime handle multi-currency payments?

Yes, Centime supports payments in multiple currencies, such as USD, EUR, CHF, and GBP. Our platform ensures seamless foreign exchange (FX) transactions and compliance with global financial standards.

Does Centime integrate with NetSuite?

Yes, Centime offers deep integration with NetSuite, as well as Sage Intacct and QuickBooks Online. This integration ensures seamless data synchronization, automatic invoice posting, and enhanced AP automation functionalities such as 2- and 3-way matching.

How does 2- and 3-way matching work with Centime and NetSuite?

Centime automates both 2-way and 3-way matching by cross-referencing purchase orders, invoices, and receipts within NetSuite. This process reduces discrepancies and ensures that payments are only made for received goods and services.

Advanced Centime AP Features

How does Centime handle invoice approvals?

Centime offers customizable, multi-step approval workflows for both invoices and payments. This flexible system ensures that transactions go through the necessary levels of review, tailored to your organization's needs.

Does Centime support multi-language invoice processing?

Yes, Centime supports multi-language invoices, allowing for seamless processing and management of invoices in various languages, ideal for global businesses.

How does Centime manage invoice storage?

Centime provides secure, unlimited cloud-based storage for all invoices. The system automatically syncs with your ERP (e.g., NetSuite), ensuring all data is stored and accessible in both systems for accurate reporting.

Can Centime handle multiple vendors in one payment?

Yes, Centime efficiently processes payments by breaking them down by vendor. Each vendor is paid individually, ensuring smooth processing even when dealing with multiple suppliers.

How does Centime auto-code invoices and G/L accounts?

Centime’s platform learns how your invoices are coded over time and automatically suggests the correct G/L account coding. This process improves accuracy and reduces manual intervention.

Centime Implementation and Onboarding

How soon can Centime begin implementation?

Centime can begin implementation right away, with the onboarding process typically completed within 7-21 days. Our quick GL sync and dedicated support team ensure minimal disruption to your business.

Can Centime sync vendor information with NetSuite?

Yes, vendor data can be synced between Centime and NetSuite, ensuring that all records are consistently updated across both systems without the need for manual input.

How are invoices migrated to NetSuite?

Invoices are automatically posted to NetSuite from Centime, reducing the risk of errors and streamlining your AP process.

Centime Security and Compliance

How does Centime handle data security and privacy?

Centime uses bank-level security measures, including PCI SAQ A and SOC 1 certifications, to ensure your data is secure. All data is encrypted in transit and at rest, meeting the highest industry standards.

Does Centime capture VAT during AP invoice capture?

Yes, Centime captures VAT during invoice processing, ensuring that VAT is recorded as a separate line item for precise accounting and compliance.

“I've felt exceptionally supported throughout this journey. Unlike other SaaS implementations where follow-up meetings felt unnecessary, these sessions with our Customer Success Manager are invaluable. They keep us updated on new features and guides us on adoption strategies, which saves us considerable time and effort."

Return on
investment

70%

Reduction in
processing costs

“We were looking for a solution to help automate our invoice tracking. We needed more visibility to make sure that everybody knew what was hitting their budgets."

Hours saved
weekly

100+

Invoices processed
monthly

*Centime is a financial technology company, not a bank.  

*All banking products and solutions are provided by FNBO. Member FDIC.

^†Subject to credit approval and minimum spend requirements on Centime Credit Card.

**Deposit placement through ICS is subject to the terms, conditions, and disclosures in the applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC.

^††3.5% Annual Percentage Yield (APY) as of 11/19/24. Deposit rate may adjust to current market rate and may change daily. Fees may reduce earnings.

Centime Accounts Payable (AP) Automation FAQs