At Centime, our mission is to continually enhance our platform to meet the evolving needs of our customers. This release includes significant updates to our Accounts Payable and Accounts Receivable modules, focusing on invoice automation, improved large-volume processing, and collection prioritization. Let’s dive into the details of these exciting updates!
Accounts Payable Updates
Invoice Automation: Expanded IA Policy Creation
Use Case: Many AP clients require the ability to create approval policies based on any invoice fields they utilize, such as customer or project fields, to streamline their processes.
Update: Invoice approval policies can now be created for all standard invoice coding fields added in the invoice fields settings. This enhancement includes the subsidiary field, which is particularly beneficial for NetSuite multi-entity customers.
Impact:
- Greater flexibility in defining approval workflows.
- Enhanced customization to accommodate specific business needs.
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Improved Performance for Bulk Invoice Processing
Use Case: Large AP clients often manage a high volume of unpaid invoices and need to process approvals and payments efficiently.
Update: We have significantly improved performance for customers bulk paying over 250 invoices simultaneously in the unpaid invoices tab. Users can now approve and pay up to 750 records at a time, enabling faster and more efficient processing of high-volume tasks.
Coming Soon: Following additional performance and stability improvements, this limit will be increased to approximately 1,000 records, further enhancing bulk payment capabilities.
Impact:
- Streamlined workflows for high-volume invoice approvals.
- Reduced manual effort and faster turnaround times for invoice payments.
Accounts Receivable Updates
CRM Enhancement: Collections Activity Tracking
Use Case: AR clients need a comprehensive view of collection-related activities to improve tracking, collaboration, and customer relationship management.
Update: Six new hidden columns have been added to the Receivables module to capture and display detailed activity data. These columns are available on the Customer and Unpaid tabs and include:
- Last Note: Displays the most recent note recorded.
- Last Note By: Identifies who made the last note.
- Last Note Date: Shows when the last note was recorded.
- Last Action: Highlights the most recent action taken.
- Last Action Date: Shows the date of the last action.
- Last Action By: Identifies who performed the last action.
Coming Soon:
- Pending Collection Activity: Upcoming updates will display pending collection actions, providing a complete picture of completed and scheduled activities. This feature will empower clients to better prioritize and proactively manage collections.
- Facilitated Team Collaboration: To enhance team workflows, we recommend clients leverage saved shared views to create collaborative working views. Future updates will include pre-configured saved views for even easier team collaboration.
Impact:
- Improved visibility into collection activities.
- Streamlined team collaboration and workflow management.
- Enhanced CRM functionality for better customer relationship tracking.
See Centime in action
Our innovative AR, AP and business banking solutions are powerful alone, and even better together.
Schedule a tailored demo with a Centime expert.
Conclusion
These updates are designed to provide our clients with the tools they need to manage their AP and AR processes more effectively. By expanding invoice automation capabilities, improving bulk processing performance, and enhancing collection tracking and management, we’re empowering businesses to operate with greater efficiency and insight.
Stay tuned for more updates in 2025 or book a demo today.