Accounts payable processes are quicker than ever

Volopay is an all-in-one accounts payable automation software that digitizes your invoices onto the platform while streamlining other AP processes such as approval workflows and payment procedures. From invoice generation to payment, you can automate all processes through our unified dashboard.

Yes, automatic Bill Pay is a great idea for businesses that deal with a large volume of invoices on the daily. AP automation software like Volopay take away the stress of manual payments, helping you process invoices on time and foster healthier relationships with your vendors.

Automated accounts payable facilitates vendor invoice management by digitizing vendor invoices and uploading it in your account database for faster tracking, managing and payments across local and international suppliers. With an automated invoice management software like Volopay, companies can easily collate, approve, and audit invoices on the go, all through one convenient location.

In order to minimize bad data or fraud, Volopay allows you to use two-way and three-way matching verification systems for your accounts payable transactions. Invoices and bills (and receipts, if needed) can all be matched to each other to ensure everything is in order. If you’d like, POs can also be attached as supplementary documents for the fourth level of verification.

Volopay allows you to make every constituent process of the accounts payable process much quicker, making the overall process more efficient. You can capture invoice data, set up payments, set approval lists, and automate expense reporting. Moreover, using cards allows you to make FX transactions at lower rates. Not only is your system improved, but it is also more cost-effective. Above all, having a well-oiled accounts payable system also positively affects your vendor relationships. 

Volopay integrates with global leaders in accounting software. We have integration options with Xero, Netsuite, Deskera, Quickbooks, MYOB, and more. If you don’t use any of this accounting software, then there is also the option to create templates that match your software requirements and export the files.

Yes, Volopay’s software has OCR (optical character recognition) technology implemented into it. Any invoice uploaded to the system automatically has the line data entered into the report without needing to manually transfer from the receipt image/file to the data fields. If your receive invoices directly to your accounting software, you can integrate it with Volopay so that it captures the data from there. Alternatively, if you receive invoices as email attachments, these can be auto-forwarded to Volopay for automatic upload.

Vendor payment initiated from our platform is a lot quicker and no-nonsense than wire transfers through banks. Domestic payments and non-SWIFT payments (from locally held accounts) are processed within a few hours. International payments generated through the SWIFT network might take a little longer - up to 2 working days depending on the vendor’s country and bank. You can set up advance payments to avoid any last-minute hassles.

Yes! You can make international payments very easily through Volpay, even outside Singapore. You have the option of activating a multi-currency wallet, which lets you hold funds across different currencies other than SGD. Additionally, our corporate cards are enabled for international payments. Utilizing these options will give you much lower FX rates and remittance fees, and you can send money to over 130 countries.