How workflow automation improves invoice processing efficiency by eliminating data entry and other AP problems
Today’s finance leaders are looking to increase productivity and overall organizational growth and drive down costs.
Invoice approvals and other AP processes remain manual and paper-intensive, which can lead to:
- Data entry errors
- Missing invoices
- Late payments and strained vendor relationships
- Incomplete cash flow visibility
As lean AP teams face an increasing number of invoices, invoice processing automation can help them keep up with growth.
When implemented by ISSI, an AP automation solution empowers APs departments in multiple ways:
- Multiple file types and formats (paper, email, attachments) are captured with document scanning software
- Automatically extracts and delivers relevant data, such as invoice information, directly to existing business applications and systems with optical character recognition (OCR) technology
- The approval and payment process is streamlined with workflow automation software and, when integrated with Outlook, non-AP business users can view and approve invoices directly from their inbox
- Mobile access for all of the above ensures remote employees can do their part efficiently
- Integrates with your accounting/ERP system, including SAP, Workday, Oracle E-Business Suite, JD Edwards EnterpriseOne, PeopleSoft, Microsoft Dynamics 365, and Infor Lawson
All of the above eliminates manual data entry, ensures data accuracy, and improves control by storing all documentation in one secure system.
By using AP automation technology to decrease your dependency on paper, you’ll:
- Process invoices faster
- Increase transparency
- Reduce costs across your AP department
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Once AP is automated, the same solution can be customized to automate other departments, including AR, HR, purchasing, and any other document-intensive department or process.
Speak with one of our AP automation experts today to see what the right combination of document capture, workflow automation, and document management—all of which are key components of an enterprise content management (ECM)—is right for your organization and to request a quote or demo.