Online Payment Solutions
With Penny, you can say goodbye to handling piles of paper invoices & payment forms.
Online Payment Solutions
You play a critical role as a part of the company’s accounts payable team. It’s your obligation to closely monitor invoices, compare them against orders placed with vendors, and make payments to them (vendors).
The old paper-based (manual) method is inefficient and error-prone. Fortunately, an automated payment solution is all you need. This is where Penny can come in handy to make sure everybody is paid correctly and on time.
With Penny, you can say goodbye to handling piles of paper invoices & payment forms. Free up your AP team’s focus & time by putting manual payments away for good. Just imagine what your team can do with their newfound free time.
Contactless & Automated
With our cutting-edge, cloud-based payment solution, you can authorize invoices and process payments from a meeting room or your home office. Easily monitor all functions remotely to make sure your AP department is running at full speed.
Penny takes all records instantly, irrespective of how they were provided by your supplier. Our solution ensures that each invoice follows your company’s policies. We make sure that your invoices are aligned with other purchase records, such as orders and leases. That way, you won’t ever have to deal with faulty records.
Spend Hassle-Free & Earn Cashback
We put cash-back opportunities right at your fingertips. Via our virtual card feature, you can make money for every dollar spent. What’s better than turning AP payments into an extra profit stream?
Easily Enroll Suppliers
Save Money & Time
Stop spending your time and resources monitoring payment instructions, making difficult integrations, and reviewing payments. Our cloud-based payment solution can handle all of that and enable you to approve payments off-site.
Plus, our AI-powered solution can learn your invoice approval and coding method allowing you to spend time on other things.
Stay Clear Of Errors
Manual, labor-intensive AP processes just don’t cut it anymore.
Manual payment processes are absolutely a thing of the past. Using Penny’s payment solution, you’ll have a unified view over all matters, helping you speed things up, boost security and minimize errors that are inevitable with manual work.
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Frequently Asked Questions
Penny is a cloud-based Procure-To-Pay system. penny helps you digitize and manage your full procurement cycle from request to approval. Manage RFQs to vendors, compare quotations, send POs and even payment. penny was designed to make things easy and consolidate all of your organization’s spending needs into one intelligent system.
- Allocate, manage and monitor budgets by expense accounts, projects, departments, location, teams..etc
- Streamlining procurement means requests, approvals, and POs won’t be lost in emails or offline.
- History and records of requests and purchases can be extracted and tracked easily via the platform.
- Product requests are more accurate through the catalog, and hence avoid purchasing mistakes.
- Reports and analysis can be extracted from the platform, giving you a consolidated data center for all your procurement activities.
- penny is cloud-based and an easy to use platform. The action-board gives your team a user-friendly and simple experience.
Yes, penny is designed to handle complex procurement operations. We make EVERYTHING simple. Via the contract management feature, you can set the terms and conditions of your contract, and the system will recognize the products and the vendors of your request and match it with specified terms of your contract. Easy.
Putting you in control of your spending is integral to our mission. penny allows you to create Expense Accounts that match your P&L, and assign budgets to them. For example, you can assign $X for your “Travel Budget” and reflect on the budget before approving a travel request. In addition, penny allows you to set budgets for cost centers like projects, departments, locations, and so much more. With penny, you can extract reports and view your spend per Expense Accounts or cost center.
