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Routable

routable.com

Founded Year

2017

Stage

Series B | Alive

Total Raised

$47.53M

Last Raised

$30M | 2 yrs ago

About Routable

Routable helps companies speed up their business payments using a secure invoice and bill payment platform.

Headquarters Location

2567 Mission St

San Francisco, California, 94110,

United States

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Routable's Products & Differentiators

    Mass payouts

    Routable’s mass payouts solution enables teams to scale their payout operations to 100,000+ per month while allowing finance teams to collaborate with any department with ease. With an ability to pay domestic and international vendors supporting different payment methods while still keeping track of all your transaction details for easy reconciliation purposes.

Expert Collections containing Routable

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Routable is included in 3 Expert Collections, including SMB Fintech.

S

SMB Fintech

2,001 items

P

Payments

2,460 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.

F

Fintech

7,565 items

US-based companies

Latest Routable News

Routable adds Optical Character Recognition for automated data entry

Sep 29, 2022

Thursday 29 September 2022 13:17 CET | News Routable , a US-based payments platform, has expanded its capabilities adding Optical Character Recognition (OCR) for automated invoice data entry. With OCR, the Routable platform automatically scans invoices to create payables, making it possible for enterprise and mid-market companies to maximise full-scale, payout automation, processing hundreds of invoices at once. Routable’s business to business (B2B) payments solution helps finance teams automate and simplify the payables process from invoice receipt to settlement. With support for the existing workflows and the flexibility to scale transactions, the platform is purpose-built to handle mass payouts while reducing time spent on manual tasks. According to the official press release, automating invoice data entry with OCR has been proven to reduce bill coding time by up to 3 minutes per invoice. For businesses processing 10,000 invoices per month, this can amount to 167 hours per week, saving businesses an equivalent of USD 168,000 per year. Businesses who currently outsource their invoice processing would also benefit from Routable’s new capabilities by being able to bring an automated process in-house. The advantages of automated invoice data entry Routable’s mass payouts solution was designed to deliver an end-to-end experience for every team, including a two-way sync with Xero, QuickBooks Online, Sage Intacct, and Oracle NetSuite. By adding OCR for invoice automation, customers can create new payables within seconds by extracting invoice data all while keeping their accounting software updated in real-time. Some of the advantages of automated invoice data entry are: Create new payables in seconds. Easily create new payables by uploading invoices to the Routable inbox or forwarding invoices to the inbox email. Automated data extraction. New payables created from invoices in the Routable inbox will be automatically populated with vendor information, core invoice data and invoice metadata. Increase payout efficiency. Reduce time spent manually coding bills with pre-filled bill details including vendor information, invoice number, payment due date, amounts, and more. Vendor matching. Extracted vendor information is matched with your pre-authorised vendor list. Split attachments for mass payouts. Ability to create a payable for each attachment when multiple files are forwarded in a single email. E-invoicing in the US Adoption of e-invoicing is still in the early stages in the US. However, the largest companies have already started benefiting from this way of communication and it is starting to make its mark as more organisations learn about the immense benefits of electronic invoicing. Not only does digitalising the invoice process lead to saved costs, increased sustainability, and highly efficient business practices, but the organisation will also open the door to higher invoice data accuracy and better cash flow. The e-invoice Exchange Market Pilot builds and tests a virtual network that should enable businesses to exchange e-invoices with one another through the establishment of a secure, open e-invoice delivery framework between providers. Under the pilot, there will be three waves of Access Point development and delivery, with the intent that each will try to incorporate the learnings of those that came before. The pilot runs through year-end 2022 to establish an operational B2B invoice exchange framework for the US market in 2023. Free Headlines in your E-mail Every day we send out a free e-mail with the most important headlines of the last 24 hours.

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Routable Frequently Asked Questions (FAQ)

  • When was Routable founded?

    Routable was founded in 2017.

  • Where is Routable's headquarters?

    Routable's headquarters is located at 2567 Mission St, San Francisco.

  • What is Routable's latest funding round?

    Routable's latest funding round is Series B.

  • How much did Routable raise?

    Routable raised a total of $47.53M.

  • Who are the investors of Routable?

    Investors of Routable include Gokul Rajaram, Marc Benioff, Jack Altman, Flexport, Scott Belsky and 17 more.

  • Who are Routable's competitors?

    Competitors of Routable include Billtrust, Trolley, Modern Treasury, Tipalti, AvidXchange and 9 more.

  • What products does Routable offer?

    Routable's products include Mass payouts and 2 more.

  • Who are Routable's customers?

    Customers of Routable include Garmentory, Seated and Mystery.

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Fintainium

Fintainium enables billers and payers to control the way they make and receive payments by providing a wide-reaching selection of payment methods. Users can convert legacy paper-based invoicing and payment processes to real-time electronic systems that provide the rapid exchange of data, increasing overall productivity and cash flow. The company serves clients operating in the private sector. It was formerly known as ePayRails. It was founded in 2018 and is based in Jacksonville, Florida.

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Kyriba

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Stampli

Stampli provides cloud-based interactive invoice management software that streamlines the entire accounts payable process and centralizes the communication on a specific invoice. Featuring a collaborative user interface, the solution integrates with Enterprise Resource Planning systems including NetSuite, Sage Intacct, QuickBooks, SAP and more.

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Silverfin

Silverfin offers a connected accounting platform to help businesses stay on top of their financial data. Silverfin's platform plugs into popular accounting software and other financial data sources to help finance departments, accountancy firms and consultants, such as external tax specialists, get much better real-time visibility of a company's financial data.

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