Accounts Payable Automation (AP) Best Solutions & Systems from Computron
One of the biggest opportunities in an organisation, is investing in the automation of invoice receipt and automating the accounts payable workflow, and this is the most frequently adopted automation strategy of best-in-class organisations.
- By Automating AP, those leaders are able to:
- Process invoices at an average cost of $3 per invoice
- Process an invoice on average within 4 days of receipt
- Capture 90% of early payment discount opportunities
- Take almost ‘real-time’ actions for improved productivity and cash management
Yet too few organisations achieve this level of accounts payable performance.
Even though the path toward better accounts payable processing is clear and the challenges to overcome are well understood, many companies still perceive the change towards automation as ‘too-hard-to-do’
Computron can help you implement the four critical improvements that industry experts agree will unlock the benefits of Accounts Payable Automation and massively improve performance of the end-to-end process.
Automate Receipt of the Invoice – Whether you receive most invoices on paper or already take advantage of e-invoicing, we lead the industry in automating the multi-channel receipt and validation of PO and non-PO invoices.
Intelligently Extract and Transform data contained within documents, integrate with in-house systems to cross correlate data, perform fuzzy data look-ups as well as cleaning and correcting images at the point of capture.
Streamline Accounts Payable Workflows – Drastically reduce time and cost from the AP approval cycle and accelerate issue resolution.
Integrate quickly and efficiently with ERP systems – By integrating efficiently and securely to any ERP, you avoid re-keying, errors and prevent fraud.
Leverage analytics for visibility and gain actionable insight into key performance areas. Furthermore, you are able to use analytics data to take actions to improve financial performance and bottom line results. You will also be better able to measure and assess productivity, optimise cash management, enhance supplier interactions and enforce compliance.
Computron have many years of experience in delivering highly successful and cost effective accounts payable automation solutions, to some of Australia’s largest companies.
Please contact us for further information on how we might be able to assist you.
Large volumes of transactions arrive in different media and formats. The typical organisation lives the nightmare of 80% paper invoices, but the remaining 20% come in all shapes and sizes – EDI, XML invoices from supplier networks, fax, electronic & other email attachments, etc.
Paper based invoices can be captured using production scanners to address high volume, batch processing needs; multi-function peripherals (MFPs) and desktop scanners can be used at distributed sites for on-demand needs.
Fax, e-mail and other electronic processes can be incorporated into the solution. Additionally the cameras on mobile phones and other capable devices can be utilised in the field by employees and suppliers.
Smart capture capabilities therefore overcome all of the traditional challenges of capturing images and content by automatically classifying, separating, extracting, perfecting, validating and delivering invoice data to over 100 different financial management systems (ERP).
For many this is the first step.
The Smart Capture Process integrates with Kofax solutions for workflow automation and case management. The Pre-built workflow templates deliver the some of industry’s best finance practices – Fully integrated with the financial management system.
All invoices (regardless or original format – paper, email, fax, EDI, PDF’s, e-invoices) are all handled with a single, consistent, proven process, which provides complete and clear visibility.
The original invoice is associated with the ERP record. Each transaction is routed to the appropriate reviewers (along with all related backup information) and a detailed audit history trail is maintained. This expertly designed approach successfully manages, optimises and turbo charges end-to-end financial processes while facilitating regulatory compliance and self-service audits.
The solutions significantly enhances the AP internal controls environment through process simplification, standardisation and centralisation, leveraging the ERP and workflow technologies to establish preventative practices.
Integrating the automated AP process with a company’s system of record (ERP) for all invoices, and their associated back up, increases financial control and greatly reduces the risk of duplicate payments, over-payments, errors and fraud.
Best practice workflows enforce adherence to corporate policies, provide greater efficiency, enforce segregation of duties for each transaction and use processes that are independent of any one member of the AP staff.
About Process Intelligence & Analytics
By combining discovery and monitoring capabilities with rich business intelligence and data integration tools, the process intelligence and analytics software provides operational business visibility in a single, unified solution.
You can quickly analyze and act upon information to ensure compliance, reduce risk and gain real-time insights that help achieve operational superiority.
Kofax Analytics Delivers Powerful Benefits:
- Best practices dashboard library. Organisations get a unified view of their entire operation, while also delivering the ability to quickly drill into the details of individual tasks managed by their environment.
- Information when it’s needed. By providing access to operational metrics and analyses in near real-time, organizations can use the most up-to-date information in their decision-making processes.
- Operational investigation. Through a variety of interactions with dashboard components, users are able to quickly drill into, filter and otherwise investigate operational data to discover important operating conditions and diagnose root causes.
- Rapidly customisable. The solution empowers non-technical users to create and share dashboards tailored to their unique operational requirements. This ensures that each user can always have access to the best analysis for their particular purpose.
Computron – The Australian Kofax Partner of Choice
We have one of the best trained solution development and implementation teams in Australia and Asia.
We have attained Kofax Diamond Partner status and not without good reason. We pay attention to detail, work as a dedicated team, and deliver what we promise.
Our professional services team in Australia alone, has a staggering 40+ years experience in managing and providing business process solutions, so you can be assured you are in safe hands.
MEET SOME OF OUR CUSTOMERS
What is Kofax TotalAgility AP Automation?
Kofax TotalAgility Accounts Payable Automation is a smart process application that dramatically transforms and simplifies the accounts payable end to end process.
Smart Invoice Capture & Validation – Beginning with the smart capture of supplier invoices, irrespective of how they are received and in what format, Kofax TotalAgility Accounts Payable Automation delivers a crisp, clear digital image of all invoices to everyone who needs to see it.
TotalAgility AP Automation – Transforms all invoice information, including header, supplier, line item and totals data, into digital formats ready for automated processing. This ensures that invoices are from valid suppliers, match valid PO’s, and/or receipts, are correctly totaled so you are confident that only valid invoices are processed.
“Kofax smart invoice capture automated learning” – Assures that new suppliers or new invoice formats don’t disrupt your business. Cut cost, time and error from your AP processes while adding visibility, control and agility for improved productivity and better cash management.
Best Practice AP Workflow – Once an invoice is captured and validated, Kofax follows through with best practice AP workflow automation applied consistently to every invoice, so that GL coding, review and approval are fast, efficient and conform to corporate policies and procedures.