AP Automation – Total Invoice Processing Solutions
Save Time and Money
“It’s always worked this way” is a phrase that may foretell impending problems for a company, particularly when it applies to cash flow and technology. Time has a way of changing the speed of business. Today, cash flow is king, and running lean is not just a suggested best practice by performance gurus but a requirement for continued profitability and success in the marketplace.
Continuing to shuffle paper invoices between accounting personnel, reviewers, and approvers is not in your best interest. Even receiving emailed invoices that just need to be printed to process, or emailing scanned copies of invoices for approval are outdated and cumbersome methods. The manual processing of AP invoices causes delays in final approvals and payments adding unnecessary costs.
And remember, audit trails for all approvals and payments are a critical element for all businesses – either public or private. Compliance and Security are essential in today’s environment.
Streamline Your Invoice Processing and Mailroom
To remain competitive, you need to upgrade your processes for better efficiencies and performance. Our automation tools can provide significant cost savings in invoice processing.
NEdocs is hard at work daily providing automated AP invoice processing services to leading US and International organizations. Our services replace the inefficient manual processes of sorting mail, opening envelopes, printing and emailing invoices for approval, tracking approvals and keying data.
Benefits of AP Automation
Best-in-class practices for Accounts Payable rely on AP Automation
NEdocs’ AP Automation Solution, offered through Vision 360 Enterprise, increases performance by:
|· Eliminating manual operations
· Reducing approval times
· Avoiding duplicate payments
· Gaining Visibility into invoices from time of receipt
· Managing invoices from anywhere
· Improving cash flow
|· Reducing AP processing costs up to 80%
· Auto-matching invoices to POs
· Benefiting from vendor discounts
· Eliminating error-prone processes
· Enforcing security, fraud prevention and compliance
· Integrating with any ERP System
How It Works
NEdocs’ Invoice Mailroom solution incorporates Vision360 Enterprise accounts payable automation software. Its workflow simplifies and improves your AP processing success.
Capture Images, Capture Data– Automatically Match, Code or Route for Approval – Integrate with ERP and schedule for Payment
|Scan paper invoices and import emailed invoices into one system. Utilize the latest data capture and validation technology (OCR) with added Quality Control for high-level data accuracy.|
|Automatically route supplier invoices for review and approval by the appropriate staff member, based on your specific business rules. Hierarchical rules based on approval limits can be enforced and reminders with escalation paths ensure timely and authorized electronic signatures. Auto-coding templates further enhance this process, eliminating the requirement to manually code an invoice. Our goal is to find consistent and logical routing rules to eliminate touchpoints in AP processing.||
Process Invoices (Touchless)
|Vision360 Enterprise attempts to auto-match Purchase Order invoices. PO invoices are automatically checked against your PO and receipt files for 2 and 3 way matching utilizing a series of cascading matching rules. Any Invoice that does not match is flagged for review. “Touchless Processing” allows your staff to focus only on exceptions.|
|To provide full end-to-end process automation our system integrates with your ERP system (e.g., SAP, Oracle, JDE, PeopleSoft, Lawson, Infor, Dynamics GP, QAD, and Sage).||
Integrate with ERP
Archive & Report
|Simplify data archiving and reporting. Supplier invoices are immediately available for reference and review by authorized users. Use the Vision360 dashboard to gain instant visibility into every invoice and monitor invoice progress. Customizable reports enable key performance analytics and instant accruals. The task of filing is no longer required and the need for file cabinets in your environment is eliminated.|
Let’s Talk AP Automation!
For further information or a demo of the NEdocs AP Automation Solution, feel free to contact us today!