Automation and Outsourcing

ECM Today! works with you to automate data extraction and your Accounts Payable processes using Imaging, Workflow, and the newest artificial intelligence technology and other accounts payable tools to drastically reduce errors, decrease processing time, increase controls, and maximize vendor discounts. Keep track of where your money is going while increasing both control and the ability to reduce labor costs.

No more lost invoices, duplicate invoices, interest charges, and late payment penalties.

What is it Costing Your company to Manually Process Invoices?

According to the Institute of Finance & Management (IOFM), the average cost to process a single paper invoice is $11.76 and on average, organizations receive more than 14,400 invoices per year. By integrating Intelligent Automation (IA) you will dramatically improve the flow of information. Start running your AP department at its full potential and streamline your processes to improve the productivity of the entire organization.

DSI video “How Much Are Manual AP Processes Costing You?”

Read about the 5 Steps to AP Automation

Download E-Book

 

See Benefits of AP Automation

  • Dashboard view of the AP process with complete transparency
  • Auto-route invoices for review, research, and approval
  • Simplify G/L coding
  • Perform 2- and 3-way matching
  • Eliminate manual data entry and keying errors
  • Take advantage of all discounts
  • Prevent duplicate payments
  • Eliminate filing and retrieving
  • Streamlined approvals
  • Monitor the progress of invoices
  • Send email reminders, alerts, and escalations
  • Significantly reduce AP processing costs
  • Completely eliminate paper-based processing

ECM Today!, offers both On-Premises and Outsourcing Options for AP Automation

Accounts Payable Automation On-Premises at Your Location

We will implement your automated AP solution at your location. We provide the analysis and design of your AP Processing, provide and configure the hardware and software, integrate with your ERP / Accounting system, and train your processors and users.

Outsource your Accounts Payable Processing to ECM Today!

Our Accounts Payable processing outsource service combines our Digital Mailroom, Document Scanning, our AP processing workflow services with our Cloud ECM service to fully automate your AP process. We provide a comprehensive digital invoice tracking and payment system that allows you to reduce labor, increase controls, and decrease costs by utilizing our efficient and intuitive Cloud ECM service from Invoice to Payment.

Our Process

Analysis / Assessment: We focus on understanding your specific needs and requirements in order to provide the most efficient and cost-effective AP solution. What is your current process? Your ERP, Accounting Software, Volumes, P2P process? What ROI can you expect?

Invoice Capture

Supplier invoices are received as email attachments and captured internally or received and scanned as part of our Lockbox / Digital Mailroom service. After capture, we extract invoice data that may include invoice number, invoice date, invoice amount, PO number, taxes, due date, etc. We can integrate with your existing ERP / Accounting system to also provide Purchase Order and other data.

Invoice Data Verification

Invoice data is verified visually as well as by using business rules to query external databases. The data is then uploaded to our AP Workflow powered by Digitech Systems allowing a comprehensive tracking of all invoices as they flow through the AP process.

Invoice Routing, Review, Approval

Based on your specific invoice processing rules, supplier invoices are automatically routed for review and approval by an authorized user. If an invoice amount exceeds a user’s approval limit, that invoice can be escalated to another authorized approver. Alerts can be set to prevent delays in processing. Invoices eligible for discounts can be prioritized. Invoices needing research can be moved to pending and researched within workflow rather than using a cumbersome email process to find information. GL codes can be attached at this stage in the process.

Invoice Coding

GL coding can be applied through the workflow process. We use validation rules to ensure that each invoice is coded correctly. Auto-coding templates can be applied which further enhance the process by eliminating the need for manually coding invoices.

ERP Integration

We provide end-to-end process automation by delivering and synchronizing Vendor and invoice data in your ERP system (SAP, Oracle, JDE, PeopleSoft, Lawson, Microsoft Dynamics GP, QAD, Sage, and others). Connecting the accounts payable process with your ERP system eliminates the need to manually enter invoices into the accounting system further leveraging your ERP investment and maximizing your return on investment. With our archive integration tool, we can make invoices immediately available to users via a hotkey within your ERP system.

Archive & Reporting

Supplier invoices are instantly available to authorized users from our Cloud Archive / Retrieval system from any computer anywhere at any time. No more filing or rooms full of boxes. Reporting capabilities provide complete visibility to every single invoice. This allows users to access the information they need to analyze key performance indicators and invoice progress to watch for problems before they occur.

Contact us to learn more about how ECM Today! can bring you all the benefits of Accounts Payable Automation.

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