Organizations using fully automated accounts payable processing save an average of $14.93 per invoice processed over organizations that manually process invoices. The more invoices you process, the greater your savings will be.
Automation reduces the average cycle time to just 5.4 days. PO invoices are typically matched and processed in 12 hours or less. This generates more early payment discounts and eliminates late payments.
No hoops to jump through. Invoices can be submitted via email, EDI, direct upload, or mailed to our high volume mail center. Invoices are processed and kept in an SSAE-16 and HIPAA compliant environment.
We harness the power of process automation and technological advances to create and support innovative tools that better serve your business. As a Software as a Service (“SaaS”) provider, we develop our software in-house with input from our clients and our staff. Annually, we process millions of transactions securely. We tailor processes and workflows, adding our unique perspective and expertise to meet each client’s ever-evolving business needs.
Each client has a dedicated account manager whose sole job is to make sure the user experience and delivery model is met with high expectations. After implementation, ongoing follow-ups continuously to maximize results.
In a complex world where implementations often stall or get scaled back, our team makes delivery a top priority yielding an industry leading record of solution deployment and implementation.
Our customer first approach to service delivery and 16 years of industry experience define our of helpful experts. We understand the challenges involved in implementation and go above and beyond to deliver.
Our accounts payable software automates the invoice processing to reduce workload. Invoices can be automatically GL coded and routed for electronic approval, while invoices with POs will automatically, accurately match to Purchase Orders within your tolerances.
Gain control and oversight to quickly research issues and invoicing errors with access to every event and change, whether you’re looking at payment status or conducting an audit. All of an invoice’s processing detail is available at your fingertips.
We offer multiple methods of receipt, including email and EDI, to keep your process moving fast, and proprietary data capture technology ensures over 99.5% indexing accuracy. Our high volume invoice intake processes quickly get your invoices digitized, indexed, and processed.
AP automation software reduces touch points and keeps your invoices moving quickly and effectively. Multiple approval reminders or escalation emails can be sent to those who haven’t provided invoice approval. This allows for more early payment discounts and can eliminate late payment fees.
Our centralized document repository features the ability to search by more than 20 parameters including invoice number, vendor name, exact amount (or with variance), email of sender, file upload name, invoice date, create date, due date, work order number, PO number, last activity date, current status, and more. Once located, invoices can be downloaded individually or in volume.
Keeping good relations with vendors can save you money, labor, and hassle. Grant your vendors controlled access to the platform to search for their own invoices. Your AP department will experience reduced call and email volume when vendors can help themselves.
The more appropriate question is how much will Accounts Payable Automation save. Most organizations will reach the break-even point in less than a year. Multiple studies have found that the average organization will save $10-15 per invoice after transitioning from manual processing to a highly automated process. This does not account for early payment discounts or the ability to negotiate better pricing with happy vendors.
When using automation, the average days to process a vendor payment was reduced by nearly three days from 8.6 days down to 5.4 days. For PO Invoices, payments are usually processed and paid within 12 hours or less, many times. Early payment discounts (and avoiding late payment penalties) make automating an obvious cost effective choice.
Our Accounts Payable Automation Software keeps track of every event and change from intake to payment. Using OCR in conjunction with our proprietary indexing technology, we guarantee 99.5% indexing accuracy, all backed by an SLA. Index invoices can be searched in a variety of ways. Beyond standard PO and invoice number searches, you can search by vendor name, date range, invoice total, GL Code, payment status, approval status, item or product descriptions, and more.
We do not require individual licenses; larger teams will save money and enjoy the benefits of more flexible access to our platform. Furthermore, our platform allows you to specify permissions for limited access, approvals, viewing/editing, reporting, and more. You have total control regarding who has access and who does not.
When switching from standard invoice processing to high levels of automation, the average company will see a 20-25% reduction in invoice errors, a 10-15% reduction in vendor payment errors, and a 5% reduction in checks reissued.
Yes. We connect with multiple ERP applications that include SAP, Oracle, MS Dynamics (GP, AX, NAV), Eatec, QuickBooks, Sage timberline, and many more. After initial integration, IT team support is not needed.