All parts of the organization is looking to reduce costs measured in hard dollars. Accounts Payable is no different and as Accounts Payable departments are under pressure to do more with less automation of the back office administration is key to success including invoice data entry.
By automating the invoice processing the Accounts Payable department can reduce:
- Processing Delays.
- Loss of early payment discounts or late payment penalties.
- High/Random Error Rates.
- Separate manual processes dealing with email and fax.
- Elevated Costs - Automatic invoice extraction and matching can reduce costs by 50% or more!
- Negative Impact on Relationship with Suppliers.
- Control over the AP process and...
- Validate the data at the point of capture.
- Automatically book PO to invoices in their ERP system.
- Processing Speed and Capitalize on early Payment Discounts.
- Staff Productivity by focusing on value-adding tasks.
- Staff Satisfaction by eliminating a large portion of the mundane part of their job.