Straight-Through Processing to Automate Supplier Payments

When IntelliChief captures a new invoice, it automatically finds the corresponding purchase order and receipts. (No purchase order? No problem. IntelliChief can route expense invoices to the appropriate approver. They can approve, code and import the invoice data without keying it into your ERP).

For PO-based transactions, IntelliChief matches the supplier invoice with your company’s supporting documentation. Even at the line level, IntelliChief performs the match automatically and creates the voucher, as long as everything meets your variance policy.

For a typical B2B transaction, your employees don’t have to do a thing. There’s no need to manually enter the invoice into your ERP to check for a match.  This keeps the supplier payment process simple and efficient. Meanwhile, IntelliChief’s workflow includes duplicate invoice checking to eliminate double payments.

Resolving Supplier Invoice Problems To Enhance Straight-Through Processing

If there’s a discrepancy between your purchase order and what’s listed on your supplier invoice, IntelliChief can help you find a solution. One example: you place an order for 100 units, but your supplier sends an invoice for 10 boxes of 10 units each. Your invoice and the purchase order don’t match – but they both reflect the same materials. Instead of wasting your team’s time on a simple unit & measure conversion, our software takes care of it for you to enhance straight-through processing rates.

Another common example is when you and the vendor use different part numbers.  There’s usually a conversion table for part numbers in your ERP, but it’s rarely accurate. IntelliChief will prompt the user to save the converted part numbers the first time, allowing the system to remember the difference the next time that part number is ordered. Here too, your Accounts Payable team doesn’t have to perform the conversion manually each time.

Look Up Vendor Payment Terms

Our invoice processing software also ensures that you get the discounts you’re entitled to.

IntelliChief searches each invoice for supplier payment terms, such as a 2 percent discount if you pay by a specific date.  When there is an incentive, IntelliChief makes sure the invoice is entered and paid by the deadline – without a last-minute rush from your team.

Schedule Supplier Payments

As each invoice is verified, IntelliChief tells your accounting software to start the payment process. It automatically creates your vouchers, then follows the payment schedule in your ERP or accounting system.

As each payment is issued, our software archives the corresponding transaction detail. If you pay a supplier with a check, the system will capture it automatically and authorized users (or auditors) can see a complete history of the transaction.

Track and Analyze Your Outbound Payment Activity

When it comes to your finances, visibility is key. IntelliChief helps you create detailed, real-time accounting reports for every supplier payment.

With IntelliChief Analytics, you can see:

• When each of your pending invoices is due
• What percentage of your invoices were processed straight through
• Which suppliers you spend the most with throughout a given period
• How many invoices you haven’t processed yet (and will need to accrue in the following period)

Thanks to self-serve access, anyone in your organization – from your Financial Controller and your CFO to your Accounting Manager or VP of Operations – can quickly access the information that’s most important to them.

Start Managing your Supplier Payments with IntelliChief’s Invoice Automation Software

The more successful the business, the more transactions you have to manage in your back office. And when you’re dealing with thousands of purchases at a time, an inefficient supplier payment process can easily overwhelm your team. At IntelliChief, we’re here to help. We can get started whenever you’re ready.