CENTRL, a leading provider of AI-powered third party risk and diligence solutions for the financial services industry, today announced the launch of its invoicing module Invoice360. Network Managers can streamline their invoice processing operations to better manage costs and make strategic spend decisions using powerful analytics and insights into fee trends.
MOUNTAIN VIEW, Calif., Oct. 19, 2023 /PRNewswire-PRWeb/ -- CENTRL, a leading provider of AI-powered third party risk and diligence solutions for the financial services industry, today announced the launch of its invoicing module Invoice360. Invoice360 can be seamlessly integrated into CENTRL's Bank Network Management platform, BNM360, or purchased as a stand-alone offering, working alongside your existing platform. Network Managers can streamline their invoice processing operations to better manage costs and make strategic spend decisions using powerful analytics and insights into fee trends.
Invoice360 automates the digitization and capture of incoming invoices and offers clients an out-of-the-box platform with hundreds of pre-mapped Agent invoice templates. CENTRL eliminates the need for clients to manage the overhead of manual invoice entry by offering a centralized service that automates invoice digitization using AI tools and parsers.
In addition, Invoice360 includes a Fee Card module to enable users to set up their contractually agreed-to fee cards with the flexibility of managing complex fee structures at the legal entity, agent bank or third-party relationship level. It includes intuitive fee mapping between their internal fee categories and those used by agent banks hence facilitating standardization for reporting. Invoice360 also provides robust reconciliation tools to manage costs down to the line item level by offering the flexibility to model complex reconciliations and set thresholds to flag only material variances. Invoice360's powerful reporting and analytics tools provide visibility into cost and fee trends and offer insights into critical data points for strategic redistribution of spending to maximize cost savings.
"Invoice360 exemplifies our commitment to leveraging technology to bring greater efficiency and control over complex operational processes. Invoice360 brings an unprecedented level of automation, flexibility and control to network management invoice processing and cost management. We plan to continue to work closely with banks and service providers to bring efficiency and standardization to the invoice process using technology," stated Shailesh Alawani, Vice President of Product Management at CENTRL.
About CENTRL
CENTRL is an AI powered third party risk and diligence platform for financial institutions worldwide. Its solutions deliver significant efficiency improvements and enhanced risk oversight to diligence teams across banking, investment management and other verticals. The CENTRL platform offers the most advanced and comprehensive features including AI powered insights, workflow automation, analytics, reporting, collaboration, and content management. The CENTRL platform is used by some of the largest banks and Investment Management firms across the Americas, Europe and APAC.
Media Contact
Alice Stephens, CENTRL, 1 4144031172, [email protected], CENTRL.ai
SOURCE CENTRL
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