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 Accounts Receivable
Business Process Automation, integrated workflow and process tracking solutions help A/R customers address the challenges of manual data entry, manual paper routing, lack of coordination and lack of transparency within traditional vendor invoice processing as part of the purchase-to-pay cycle.
Key features
- Automated invoice entry, work assignment and prioritization
- Real-time tracking of invoices
- Flexible, automated task routing
- Consistent processing rules
- Controlled exception handling for canceled transactions and blocked invoices
- Duplicate invoice checking
- Invoice approval, with side-by-side view of original and captured data
- Process history and audit trail, with continuous tracking of process data and status
- Central point of information for all vendor invoice management processes
- Minimized number of keystrokes to complete accounts receivable process
- Dynamic work item descriptions and titles
- Reports on process time and volume, queued invoices, exceptions and blocks, due dates, discounts, scheduled payments
Benefits of A/R integration
By taking keystrokes out of the process and bringing visibility to the cycle, you can see immediate additional return on investment. Users benefit from a fully optimized process for effective financial planning, and strong buyer relationships
- Lower purchase-to-pay process costs by as much as 40–60%
- Receive and enter vendor invoices up to 65% faster
- Take full advantage of fast-payment discounts
- Prevent late and duplicate payments
- Improve response to vendor inquiries concerning invoice status
- Improve cash-on-hand planning
- Eliminate redundant ERS invoice processing
- Benchmark metrics such as vendor cost and employee performance
- Ready access to information for reporting and analysis to balance workloads and identify process bottlenecks
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