Digital content management platform Intellinetics has collaborated with building industry software provider Constellation HomeBuilder Systems to create a solution that fully automates the accounts payable (AP) process.
Intellinetics’ IntelliCloud Payables Automation System (IPAS) is an AP automation module that is integrated with Constellation’s Newstar Enterprise, an enterprise resource planning (ERP) system for land developers and home builders, according to a Monday (Oct. 31) press release.
“IPAS is a new enterprise-class software solution for financial platforms that support very complex cost-accounting markets,” Intellinetics President and CEO James F. DeSocio said in the release. “New software expands our paths to market — especially with software partnerships like ours with Constellation HomeBuilder Systems, where we can embed our technology and scale customer acquisition as part of an ongoing process.”
The new module delivers cost reductions, service improvements, strengthened compliance and real-time dashboard views into data and documents.
It eliminates the manual steps in general ledger coding, workflows, approvals, data entry and filing by using artificial intelligence and machine learning technologies, the release stated.
Alana Tisch, homebuilding systems implementation manager at home builder Colen Built Development, said in the press release: “When we implemented Constellation HomeBuilder Systems’ Newstar Enterprise ERP software, it was an easy decision to select the IntelliCloud Payables Automation System for Newstar. It’s totally integrated, cost-effective and fully supported for peace of mind.”
PYMNTS research has found that AP automation can drive faster and more accurate B2B payments experiences.
In fact, a PYMNTS survey of chief financial officers in the wholesale trade and manufacturing sector found that 91% of organizations reported improved efficiencies when digitizing their payments, according to “The AP Automation Tracker®,” a PYMNTS and Beanworks collaboration.
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