Automating accounts payable processes
Take the pains out of
your invoice processing!
Eliminate
- Manual keying
- Manual distribution
Move from
late payment penalties to early payment discounts
Turn bad-will
into improved
supplier relations
Make those slow
and questionable
financial reports
timely and accurate
"We're able to pay our invoices quicker, and we have better control."
Jan Ferro
Purchasing Manager
Green Mountain Power, USA
Accounts Payable processes are business critical.
That's why we'd like to simplify your routines, while improving your bottom line:
Automate your process
From arrival to post and archive, with efficient workflow to streamline verification and exception handling.
Any format, any source
Physical documents, electronic documents, and document images, via mailbox, email, fax and file transfer.
Improve what you have
Integrate with the major ERP/financial system of your choice.
Increase visibility
Improve your cash flow and invoice management.
Get better control of received and invoiced goods, automatic purchase order matching, optional automatic posting of invoices, enhanced security, less manual work, shorter total processing time, decreased total cost for supplier handling and early notification of errors.
Improve your day-to-day information on financial status (regarding current projects, for example) and basis for business decisions. And save a substantial amount of valuable time at the end of every month, quarter and year.
Sorting
Supplier and buyer identities are detected and verified. The type, general expense or purchase order, is detected, as well as whether it is an invoice or a credit note. Thus the correct business rules are automatically applied.
Extraction and validation
Of course extended line item tables and multiple VAT rates are extracted. All information can be checked, either using calculations or by comparison with resident data. If confirmed, the invoice may bypass manual verification.
You can also use information from several ERP ledgers. If everything is correct and the invoice corresponds to an approved purchase order, it can be posted automatically.
Verification
Individual operators have a personalized inbox containing only the invoices they are authorized to handle. Any correction is automatically revalidated according to the predefined rules.
Verification can easily be done over the Internet without any loss of security.
Allocation and approval
A web-based workflow simplifies validations and controls, shortens circulation time and provides immediate access to information. You can always see where your invoice is in the process.
No piles of backup copies or hunts for unreturned invoices.
Monitoring and control
Extensive monitoring capabilities help you to keep track of the process. They provide reports and graphs concerning your documents and data processing and give you ways to measure process performance along the parameter of your choice.
Scope
Solutions for automating Accounts Payable processes in any major ERP or financial system, from invoice arrival, though information extraction, validation and verification, to approval workflow, all with SOX compliance support.
Proven for all major ERP and financial systems
A large number of successful installations have been made in collaboration with our partners. For more information, please check our partner list or get in touch with your local ReadSoft office.
Certified by SAP®
Totally transparent solutions, where you work either in your normal SAP environment or through an easy-to-understand web interface.
- You get a “single point of entry” from which you can access all required data and information, including vendor master data, purchase order data, the original invoice data and a history of all actions that have been carried out.
- You access the workflow through the SAP system or a web browser.
- Authorized suppliers have access to the processing status of their invoices.
- Numerous statistical evaluations facilitate specific process optimization. This allows you, for example, to compare suppliers and view chronological developments.
More about ReadSoft''s SAP solutions
Certified by Oracle
You will use the Oracle functionality you already have in the E-Business Suite and Oracle database.
- Oracle interface, Oracle workflow, and Oracle validation rules and approval hierarchies, with account rules provided by General Ledger.
- You access the workflow through the Oracle system or a web browser. The information and the corresponding invoice image are always available via the standard “Attachment” button in the Oracle AP module.
- You have a real-time overview of the workflow – where invoices are in the process and who is responsible for next action.
- No effect whatsoever on your existing E-Business Suite.
- No effect at all on Oracle support nor on your ability to upgrade.
More about ReadSoft's Oracle solutions
Automation areas
Shared service centers
- Extensive experiences from multinational enterprises
- Proven methodology for analysis, planning and implementation
- Global market leading provider of supplier invoice solutions
- Solutions able to handle
- many languages
- local regulations and business rules
Most enterprises and other organizations
The accounts payable processes are basically the same regardless of industry type. Our experiences cover many different fields of industry, as well as public service organizations and governmental bodies, in many countries with very specific legislation, rules and business practices.
For further information please check our reference list or get in touch with us.