Accounts Payable Automation
Reducing accounts payable processing time is difficult when you’re inundated with challenges like:
- Overbilling and double-billing by vendors
- Disputes and discrepancies that limit your productivity
- Lengthy processing times for invoices
- Cumbersome invoice-approval cycles that result in late fees and penalties
- Too many non-P.O.-based invoices that make it harder to achieve processing accuracy
- Financial penalties like missing prompt-payment discounts
- Manually looking for documents and entering recurring data
SpringCM's AP Invoice Processing Solution tackles these challenges with a simple, affordable, on-demand service. This means there is never any hardware to maintain, software to install or upgrade fees to pay. And you get up and running in days, not months. Use the SpringCM Invoice Processing Solution to streamline the entire process - from invoice capture through P.O. matching, approval routing, voucher update, exception handling and remittance.
- Cut the cost of processing each invoice by 30-50 percent
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Experience a single point of capture for all invoices whether delivered through e-mail, fax or
physical mail - Save time through powerful search and instant retrieval of invoices and related documents
- Improve efficiency and flow-through rates at every step in the process
- Tie related documents like invoices and purchase orders together
- Make lost documents a thing of the past
- Free up valuable resources by improving handling of discrepancies and exceptions
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Identify bottlenecks and improve performance through automated monitoring and integration with
existing ERP applications - Significantly reduce paper storage costs – by up to 90 percent
- Eliminate paper by scanning and creating digital images of all documents
- Create an automated process for moving invoices through every stage of the process
- Automatically capture all relevant data from each invoice or P.O.
- Route each invoice to the right approver based upon flexible business rules
- Minimize manual steps and replace with automated processes like single-step data entry (SSDE)
- Easily keep track of every invoice, P.O., bill of lading, etc ...
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Use workflow design tools to easily create a process for managing invoices that contain discrepancies
or exceptions - Find the right invoice or any other document instantly through full-text or index searching
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Stay on top of all activities and identify bottlenecks and improvements with process monitoring
and reporting - Allow your vendors to easily mark up documents and to identify disputed line items
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A Digital AP Library that serves as a central, secure repository of all documents related to
invoice processing -
Consolidation and automation for the capture of all invoices, P.O.s, etc ... from multiple
locations via scanning, e-mail- and fax-addressable folders - Full-text OCR and imaging of all documents with zonal indexing of important attributes
- Routing and Approval Workflows to manage the processing of standard invoices and exceptions
- Data validation and automatic capture of duplicate invoices
- Workflow for exception management and escalation procedures
- Complete auditing of every touch-point in the accounts payable process
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Reporting that allows you to track the status of all invoices and the performance of everyone
in the process
SpringCM offers Web services-based integration to easily integrate the Invoice Processing Solution
with your existing accounting or ERP system. Depending upon your needs, this can range from a tight
integration that updates both systems with a single keystroke to a loose integration where values are
replicated in each system in batch mode. As with all SpringCM features, the choice is up to you.
"SpringCM got our AP project off the ground in days. The Professional Services team's willingness to
understand and improve our processes exceeded everyone's expectations. Our SpringCM solution has
reduced invoice-processing time by 25 percent and we're now equipped to double or triple our
invoice-processing capacity."
-Heather Misiak, Nexcap Finance Corp.