Ascend AP
By Ascend Software
Ascend AP, developed by Ascend Software, is a cloud-based accounts payable automation solution designed to streamline invoice processing and enhance financial workflows for organizations. It utilizes artificial intelligence and optical character recognition (OCR) to capture and process invoice data efficiently, reducing the need for manual entry and increasing the accuracy of accounts payable tasks. The software integrates with various ERP systems like Oracle, SAP, and Microsoft Dynamics, making it a flexible and powerful tool for businesses looking to optimize their AP operations.
Ascend Software, the creator of Ascend AP, was founded in 1997. The company has built a strong reputation for delivering innovative financial automation software that reduces operational costs and improves efficiency. Over the years, Ascend has continued to enhance its product offerings, responding to the growing demand for cloud-based financial automation solutions. Ascend AP is one of its flagship products, contributing significantly to the company’s growth in the enterprise software market.
Ascend Software is a privately-held company, and while detailed funding information is not publicly available, the company has sustained growth through organic expansion and the adoption of its financial automation solutions by enterprise clients. Its valuation is not publicly disclosed, but its partnerships with leading ERPs and expanding customer base indicate a strong market presence.
Ascend AP’s features include:
Automated Invoice Capture: AI and OCR-powered invoice scanning.
ERP Integration: Seamless integration with major ERP systems like Oracle, SAP, and Microsoft Dynamics.
Approval Workflows: Customizable workflows for faster invoice approvals.
Two- and Three-Way Matching: Automated matching of invoices with purchase orders and receipts.
Mobile Accessibility: Approvals and workflows are accessible via mobile devices.
Electronic Payments: Supports electronic payments and remittance processes.
Analytics and Reporting: Real-time visibility into invoice processing and detailed reporting capabilities.
These features are designed to reduce manual errors, improve payment cycle times, and enhance overall efficiency in accounts payable departments.
Ascend Software has not been known for major acquisitions but focuses on developing and expanding its products in-house. Ascend AP has seen continuous updates to meet the evolving needs of enterprises, including enhanced AI capabilities, integration with more ERP platforms, and new workflow automation features. The company’s focus on financial automation ensures its products remain competitive in a rapidly changing market.
Recent updates to Ascend AP include:
Enhanced AI Algorithms for better invoice data capture and error reduction.
Advanced Analytics Dashboards to provide greater insights into AP processes.
Improved Mobile Experience with more robust features for remote access and approval management.
Ascend Software values innovation, customer success, and operational efficiency. Its company culture revolves around providing high-quality customer support and delivering cutting-edge solutions that automate and streamline financial processes. The company emphasizes a customer-first approach and strives to maintain strong relationships with its clients through dedicated support and continuous product improvement.
Ascend AP serves a broad user base, including mid-sized and large enterprises, especially those in industries such as healthcare, manufacturing, and financial services. The product is popular among organizations seeking to reduce manual AP tasks and improve invoice accuracy and payment cycles. Ascend Software has built a strong user community through its partnerships with ERP systems and robust customer sup
