Routable operates as a business-to-business (B2B) payments-based platform. It allows users to send and receive business-to-business payments using a secure invoice and bill payment platform. It was founded in 2017 and is based in San Francisco, California.
Routable's Product Videos
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.
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Latest Routable News
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.
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 600 California Street, 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, Flexport Ventures, Lachy Groom, Sam Altman, Jack Altman and 18 more.
Who are Routable's competitors?
Competitors of Routable include Denario, Trolley, Tipalti, Snab, Billtrust and 14 more.
Compare Routable to Competitors
Billtrust (NASDAQ: BTRS) provides automated order-to-cash solutions. It offers cash application solutions, e-commerce, invoicing, payments, and more. The company serves transportation, machinery, distribution, manufacturing, medical equipment, technology, legal, and staffing industries. The company was founded in 2001 and is based in Lawrenceville, New Jersey.
Tipalti provides a cloud-based technology platform aimed at mid-market companies, which have traditionally been underserved by banks, to streamline all phases of the global accounts payable workflow. The solution streamlines and optimizes businesses' end-to-end global payables workflow while giving companies access to cross-border payments, currency conversion, and payments across a wide range of methods. The company was founded in 2010 and is based in San Mateo, California.
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.
ContaAzul offers software-as-a-service accounting and invoicing solutions for small businesses. Its services include quotes by email, contract management, sales management, electronic invoice management, and more. It was founded in 2012 and is based in Joinville, Brazil.
Kyriba offers cloud-based Proactive Treasury Management solutions and delivers cash management technology to CFOs, treasurers, and financial professionals. The company's secure and scalable SaaS treasury, bank connectivity, risk management, and supply chain finance solutions enable organizations to drive corporate growth, obtain critical financial insights, minimize fraud, and ensure compliance.
Cherry operates as a business-to-business (B2B) payment processing solution-providing company. Its interface automates and eliminates manual processes for the payor, bank, and payee. The company was founded in 2018 and is based in Brooklyn, New York.