Accounts Payable Automation: How Software & Technology Can Streamline Your AP Workflows
Accounts Payable automation helps you manage your supplier invoices and payments. Complex and time-consuming workflows become much simpler with technology – and your business saves money in the process.
Accounts Payable automation can help you streamline your procure to pay cycle by as much as 80 percent. You don’t have to worry about duplicate payments, or invoices piling up when an employee is out of the office.
With AP automation, your business can leverage the power of technology. Software can streamline the entire Accounts Payable process. Computers can handle your accounting department’s most redundant tasks. As a result, your employees will have more time to focus on other work.
There’s also a financial benefit. You can:
- Reduce your invoice processing costs
- Eliminate late fees
- Capture more early payment discounts
These savings add up – and you’ll notice the difference right away. Most companies that invest in Accounts Payable automation software achieve a full ROI in a single year.
Intuitive Solutions for AP Automation
IntelliChief is an easy-to-use solution for Accounts Payable automation. Our software helps you:
Capture Your Incoming Invoices
You can add invoices to your processing queue as soon as they arrive. Scan in paper invoices or save them to IntelliChief from your computer. Or, automate the process even more with a monitored email address or fax network. Our software can identify new supplier invoices and import them straight into the system.
Match Your Invoices to the Corresponding Purchase Orders and Receipts
As each invoice arrives, IntelliChief looks up the other business documents that go along with the transaction. (That includes purchase orders and receipts that you already have saved in your ERP.) From there, our solutions compare the data to make sure you’re only charged for items that you ordered (and received). This confirms that unit prices and surcharges are correct prior to payment.
Distribute Non-PO Invoices for GL Coding & Approval
When you receive an invoice for a non-purchase-order transaction, IntelliChief automatically routes it to a user who can approve the payment. (Have a complex approval process? It’s easy to create multi-step workflows that send your invoices to various departments or employees). IntelliChief also lets you assign GL codes for any purchase, without having to log in to your accounting software.
Manage Your Invoices on Mobile
When your employees are working remotely, they can still complete their accounting workflows. Mobile access lets users view, approve, and code invoices from a smartphone or tablet. Your entire accounting department can collaborate on the go, with no costly delays.
Find Solutions for Invoice Discrepancies
When invoices are correct, our accounts payable automation tools can process them straight through. When there’s a simple error, such as a mis-match between currencies, IntelliChief can often resolve the issue on its own.
When an invoice needs a manual review, our software routes it to a user for resolution. It highlights the errors so they’re easy to find, and attaches any documents your team might need to sort out the issue. And for outstanding approvals, IntelliChief can send out automatic reminders to keep your team on track.
Import Invoice Data Into Your ERP
As each invoice is processed, IntelliChief collects the data and sends it to your enterprise resource planning system. Your employees key information in manually – and you don’t have to worry about transcription errors. (And when your employees are working in your ERP, and need access to a specific information? They can look it up with a single click. No need to leave their core application screen.)
Our AP automation software works with your ERP or line of business system to create vouchers and schedule payments. When an invoice is eligible for an early payment discount, IntelliChief can add the payment to your next available check run.
Archive Processed Invoices
Another benefit of a paperless AP department? You don’t have to store your invoices in your office for years on end.
As each invoice is paid, it’s added to an electronic archive. Any authorized user can retrieve it at any time. And once the records are no longer needed? IntelliChief can securely destroy them, helping your business comply with industry regulations.
Prepare for Accounts Payable Audits
Our software has a built-in invoice tracking system. This lets you create a complete record of every time a document was approved (and by which user). You can provide third parties with access to your business information, making it easy to to prepare for Accounts Payable audits.
Discover IntelliChief’s Accounts Payable Automation Software
IntelliChief works the way that you do. Whatever accounting program you use, and whatever processes your business already has in place, IntelliChief can customize a solution for your specific needs. Our support team can build out one-of-a-kind workflows, add new users to your system, or provide you with any other resources you need to transform your Accounts Payable process.
To learn more about our AP solutions, contact us today.