Streamedlined Accounts Payable Automation
Spend up to 60% less time on your accounts payable process
The Challenge
The average cost to manually process an invoice is $22.75. The average time it takes to process an invoice is 16.3 days. This ends up costing your business in the form of labour, late fees, and printed paper cost.
The Solution
In a nutshell, our solution is used by your accounts payable department and by invoice approvers to automate your accounts payable process, with a focus on these key steps:
- Capturing invoices from a scanner, MFP, email, or drag-n-drop from their desktop
- Validating invoices based on your defined business processes and rules
- Reviewing, matching invoices, GL coding, and approval processes
- Approving invoices by your organization’s stakeholders from any device at any time
How does it work?
1. Capture
AI and Machine Learning index all incoming invoices
Forget templating invoice formats from your clients. The power of our solution starts with AI and assisted machine learning and extracts data from any invoice. This critical indexed data is the heart of the solution, as it drives workflow processes. Our solution replaces error-prone and time-consuming data entry by recognising and recording all the data printed on invoices.
2. Secure Storage
Effortlessly archive and retrieve digital documents
All invoices are stored within a secure, data-sovereign, accessible repository, tightly organised based on captured index data. Apply retention policies, rapidly collect for audits, or analyse for departmental process improvements. Access anytime, anywhere, from any device — including mobile.
3. Automated Workflow
Digitally route for approval and post-back
with our Low Code platform we Digitally route invoices through approval chains for faster decision-making, or initiate a straight-through approval based on predefined rules. Quickly handle exceptions while maintaining visibility throughout the process. Create a booking record for easy integration with your ERP system.
What's in it for me?
Streamlines your accounts payable
Process invoices with maximum speed and accuracy while minimising any unnecessary involvement from your accounts payable team.
- Uses machine learning to ingest multiple invoice types
- Reduces employee touch points and human error
- Takes advantage of unstructured data
Saves you time and money
The average cost to manually process an invoice is $22.75. The average time it takes to process an invoice is 16.3 days. This ends up costing your business in the form of labour, late fees, and printed paper cost.
An accounts payable automation solution reduces the number of hours staff spend processing invoices.
- Reduce the cost of processing an invoice
- Significant cost savings in the long run
- Never lose an invoice again
- Eliminate human error
- Streamline accurate approval process
Simplifies onboarding for suppliers and different invoice types
An accounts payable automation solution uses the latest in machine learning technology to reduce the effort of onboarding new suppliers and working with different invoice formats.
- Spot supplier issues early
- Reduce invoice processing time
- Increase your on-time payment discounts for suppliers
Speeds up your invoice approval process
Save your accounts payable department time and empower them with actionable real-time data. Avoid all the bottlenecks, miscommunication and frustration of a manual approval process.
- Get daily metrics that matter to each user
- Increase employee ownership of a process
- Maximise process compliance
- Implement measurable workflow escalation and approval processes
How is it implemented?
Available as a preconfigured cloud solution. Fast to launch, fast to value.
- Ultra-simple pricing with all features unlocked on day one
- Integrate with Outlook, SAP, Quickbooks and more
- Start simple, then use more workflows when you’re ready
- Go live in three days or less
Deployment Options
Deploy in the cloud
Our solution for invoice processing is available as a cloud-based, preconfigured solution that provides everything you need: workflows, document templates, user profiles, security configurations and more.
Integrate with your other applications
Integrations are an integral part of any automation project and we know that no business is exactly the same. We work with our customers to achive maximum automation.
Software partners we work with
