Routable

Routable is a complete Accounts Payable (AP) automation platform designed for modern businesses to streamline their entire financial workflow. It provides a secure, streamlined solution for managing the comprehensive supply chain of accounts payable, from vendor onboarding to global payments and reconciliation. By leveraging AI and automation, Routable helps finance teams reduce manual work, lower operational costs, and enhance control and compliance.

The platform is built to handle the complexities of business payments, whether you're paying a handful of vendors or thousands of contractors across the globe. It focuses on making B2B payments a seamless, efficient, and transparent process, allowing teams to focus on strategic initiatives rather than mundane tasks.

How to use Routable

Using Routable involves a straightforward, automated process designed for maximum efficiency:

1. Vendor Onboarding: Invite vendors to a custom-branded portal where they can securely submit their information and tax forms (W-9/W-8). Routable automates compliance checks to vet and validate vendors before payment.
2. Invoice Capture: Submit invoices through various methods, including direct upload (PDF, JPEG, CSV), email forwarding, or API. Routable's AI-powered OCR technology automatically extracts data from invoices with 92% accuracy, creating bills in seconds.
3. AI-Powered Coding: The system's Predictive Coding AI automatically codes bill details, such as line items and ERP fields, based on your historical data. The AI can be trained to learn new invoice layouts, aiming for 100% touchless processing.
4. Custom Approval Workflows: Set up multi-step approval rules based on dollar amounts, departments, or other criteria to mirror your company's internal policies. This ensures every payment is properly authorized before being sent.
5. Execute Payments: Send thousands of payments in just a few clicks or via the API. Routable supports numerous payment methods, including standard ACH, Same-Day ACH, Real-Time Payments (RTP), and physical checks. For international payments, you can pay vendors in 140+ currencies across 220+ countries.
6. Real-Time Reconciliation: Routable offers a true two-way sync with 99.8% accuracy to popular accounting software like NetSuite, Sage Intacct, QuickBooks, and Xero. This ensures your financial records are always up-to-date, making month-end close significantly easier.

   Core Features of Routable

   • AI-Powered Invoice Capture: Utilizes OCR and Predictive Coding to eliminate manual data entry and intelligently code invoices.
   • Automated Approval Workflows: Highly configurable approval processes to match any organization's unique requirements.
   • Mass Payouts: Designed to handle high-volume domestic and international payments efficiently.
   • Global Payments: Supports payments to 220+ countries and territories in over 140 currencies, with competitive foreign exchange rates.
   • Comprehensive Vendor Management: Includes seamless onboarding, automated tax form collection (W-9/W-8), and vendor compliance checks to mitigate fraud.
   • PO Matching: Automated 2-way and 3-way purchase order matching to save time and ensure data sync.
   • Real-Time Two-Way Sync: Deep integrations with major ERPs and accounting software (NetSuite, Sage Intacct, QuickBooks, Xero) for 99.8% data accuracy.
   • Developer-Friendly API: A robust Payments API allows developers to easily embed payment functionalities into their own applications.
   • Role-Based Access Control: Granular permissions to ensure team members only have access to the functions relevant to their roles.

   Use Cases for Routable

   Routable is ideal for various roles and business types:

   • CFOs & Controllers: To lower operational costs, improve compliance, gain real-time visibility into cash flow, and empower their teams to focus on strategic goals.
   • Accountants: To eliminate tedious manual tasks like data entry and reconciliation, allowing them to scale their services and better serve their clients.
   • Developers: To leverage a powerful API to build custom payment solutions and automate payouts for marketplaces, gig economy platforms, or other software.
   • High-Growth Companies: To scale their AP processes without increasing headcount, managing thousands of vendor payments seamlessly.
   • Global Businesses: To simplify the complexity of cross-border payments and vendor management across different countries and currencies.

   Advantages of Routable

   Routable offers significant advantages over manual processes and competing solutions:

   • Efficiency: Reduces manual payment tasks by up to 80% and cuts invoice coding time by 60%.
   • Cost Savings: Customers save an average of 30% on payment processing fees, including 30-50% on foreign exchange rates.
   • Accuracy and Reliability: A 99.8% sync accuracy with ERPs minimizes costly errors and ensures data integrity.
   • Scalability: The platform is built to grow with your business, from hundreds to thousands of monthly payments.
   • Enhanced Security and Compliance: Automated controls, vendor vetting, and secure data handling mitigate risk and ensure regulatory compliance.
   • Flexibility: Offers 13 different payment options and speeds, plus powerful integrations to fit into your existing tech stack.

   Pricing and Plans

   Routable offers transparent, subscription-based pricing with no hidden fees. Plans are available with a 20% discount for annual billing.

   • Growth Plan: Starting at $599/month (billed annually). Designed for growing, collaborative teams. Includes full AP automation, custom vendor onboarding, and no per-user fees.
   • Scale Plan: Starting at $899/month (billed annually). For teams needing more control. Includes everything in Growth, plus advanced permissions, custom reports, SSO/SAML, and PO matching.
   • Enterprise Plan: Custom pricing. For large organizations operating at scale. Includes everything in Scale, plus a dedicated Customer Success Manager and volume-based discounts.

   Per-transaction fees apply:

   • Invoice OCR: $0.99 per invoice
   • PO Match: $0.49 per match
   • Standard Domestic ACH: $0.49
   • Same Day Domestic ACH: $2.00
   • Real-Time Payments: $1.25
   • International Payments (local currency): $3.00 + FX
   • First Class Checks: $1.50

   Volume discounts are available for high-volume processing.