Accounts Payable Automation 4-Way Matching
Here’s a peer’s view of Accounts Payable Automation 4-way matching. If a company’s needs extend beyond an Invoice to PO to Receiver match, this will resonate.
This US-headquartered company, with operations spanning North America and Europe, found their paper-based processes were the decision driver for AP Automation. Time and cost associated with ERP data keying and manual workflows dictated a need to automate Accounts Payable, and other back-office processes where advantageous.
After a year of multiple enterprise content management (ECM) vendor reviews and system vetting, IntelliChief was selected based on:
- Enterprise expansion capability throughout their organization
- Integration with their ERP and line of business systems.
Their Accounts Payable operations were spread globally and consolidated at their California headquarters. The 4-way matching process consisting of Invoice to PO to Receiver to Quality Inspection Sheet. This forth component was a deciding factor in their ECM choice. “IntelliChief demonstrated the flexible capability to achieve our specific 4-way match, something other systems could not,” commented the Controller. “They proved equally adaptable to our needs throughout, accommodating all of our specific processes.”
The company had frequent repeat vendor orders. IntelliChief removed considerable time and cost through a high straight-through processing rate; the majority being completely automated from document capture to workflow. This created a touchless environment where no ERP keying or other human interaction was needed. With ERP lookups for vouchering, validating and supplementing key data between systems, IntelliChief’s rules-based business process automation workflow, mapped to their specific practices, enabled quick reviews and approvals.
The company utilized an AI aspect unique to IntelliChief: cross-referencing table algorithms to normalize data among systems, matching variables to maintain accuracy.
Their previous processing staff consisted of 3 full-time and one contract employee, has been reduced by half, freeing the others to concentrate on strategic operations.
Their ancillary benefit of AP Automation was in related vendor fees. “We were able to eliminate both outsourced digital imaging and physical storage services, creating considerable, ongoing cost savings,” their Controller relayed.
They found additional benefit with IntelliChief’s Implementation and Support. A strong partnership formed quickly between the company’s staff and the IntelliChief team. “IntelliChief’s Implementation team perfectly configured the system to our specific process environment, and their Support staff has always been responsive and helpful. Their people work well with ours, and we appreciate that,” commented the Controller.
