Accounts Payable (AP) Invoice Workflow Automation Software
Automate and Streamline Your Accounts Payable Processes With Image One’s Accounts Payable (AP) Invoice Workflow Automation Software Solutions!
Incoming paper invoices can create a challenge regardless of your organizational skills.
Opening the mail, matching invoice line items with POs and delivery receipts, and GL coding are all manually intensive and error-prone processes. If you have increasing invoice volumes, it can be a nightmare.
Image One streamlines AP Invoice Processing based on a combination of our 20 years of experience implementing workflow automation software as well as our ability to image-enable your accounting or Enterprise Resource Planning (ERP) software.
These innovations and others can help reduce up to 90% of the manual labor used to process invoices and reduce the chance of human error. Your organization can accomodate increasing invoice volumes without increasing personnel or temps. We can also automate the 3-way matching process.
Accounts Payable (AP) Invoice Workflow Automation Software is a type of software that helps organizations automate and streamline their accounts payable processes, from capturing and processing invoices to approving and paying suppliers. Accounts Payable (AP) Invoice Workflow Automation Software can provide many benefits for businesses, such as:
- Saving time and money. AP Invoice Workflow Automation Software can reduce the need for manual data entry, paper handling, and human intervention, which can lower the costs and errors associated with accounts payable. It can also speed up the invoice processing cycle and improve cash flow management.
- Enhancing visibility and control. AP Invoice Workflow Automation Software can provide a single platform for users to access, track, and manage all their invoices and payments. It can also provide real-time reporting and analytics to help users monitor their AP performance, identify bottlenecks, and optimize their workflows.
- Improving compliance and security. AP Invoice Workflow Automation Software can help users comply with accounting standards and regulations, such as GAAP, SOX, HIPAA, and GDPR, by ensuring the accuracy, completeness, and validity of their invoices and payments. It can also protect their data from unauthorized access, loss, or damage by using encryption, passwords, firewalls, and other security features.
- Increasing supplier satisfaction. AP Invoice Workflow Automation Software can help users maintain good relationships with their suppliers by paying them on time and accurately, avoiding late fees, penalties, or disputes. It can also enable better communication and collaboration with suppliers by providing them with self-service portals or mobile access to their invoice status and payment information.
Where To Start
The first step in AP Workflow Automation is to get rid of the paper and ensure that all documents are captured – whether scanned, entered via e-forms or manually entered by your team.
In addition to scanning your invoice backfile, you’ll also want to scan inbound invoices, correspondence and related documents. We can either enable your mailroom or accounts payable department to scan them with scanning software and document scanners, or you can outsource invoice scanning or all of your mailroom scanning to us.
Automated Routing & Alerts
Once captured, invoices are then automatically routed to AP clerks for review and to the appropriate parties for approval and payment. This will help ensure payments are made on time and that early payment discounts can be captured (if you want to).
Document Management Software
Document Management Software (DMS) is a type of software that helps organizations manage their accounts payable documents, such as invoices, purchase orders, receipts, and payment vouchers. AP document management software can help organizations improve their efficiency, accuracy, security, and compliance in their accounts payable processes. It is a software-based solution that captures, stores, retrieves, and distributes digital documents throughout your organization. Image One’s CMX Document Management Solution is built from years of experience in the field. DMS software such as CMX can help your AP department reduce paperwork requirements, improve efficiency, and streamline workflows. It can also help your department save money on storage costs by freeing up space and storing necessary hard copies off-site in more affordable places like a warehouse.
