Yooz

Yooz offers an accounts payable (AP) automation platform (Yooz Rising) that uses AI, robotic process automation (RPA) and OCR to cover the entire purchase-to-pay process. Users can create purchase requests, match purchase orders, automate approval workflows, and make payments through the platforms. Payments are facilitated through its “Yooz Pay” solution, which enables payments through several means including virtual cards (issued with cashback rewards), ACH, eChecks, and paper checks.

The platform can be integrated with over 250 ERP and financial services platforms, including Sage Intacct, QuickBooks, NetSuite, SAP, and Microsoft Dynamics, among others. It also embeds fraud detection by identifying document fraud and forged documents, as well as duplicates and inconsistent data. Moreover, Yooz provides cash flow visibility and insights on AP metrics to assist with financial decision-making.

The company charges its users a subscription, based on the volume of documents processed, and it has no limit on the number of users. Yooz claims that its platform can reduce processing costs by 80% on average, compared to legacy AP management systems.

Key customers and partnerships

The platform was used by over 4,000 customers and 200,000 users across the globe as of May 2022, as the platform was used in the US, the Middle East, Africa, and in several European countries - such as the UK, Belgium, and Luxembourg.

Yooz also partnered with digital checking solutions providers Checkbook and SnapCheck, in 2018, to integrate their solutions in the platform to let Yooz users make digital payments while keeping the familiarity of paper checks.