Invoice Processing Software: Prevent Late Fees & Capture More Early Payment Discounts with AP Automation
Invoice processing software makes it easier to manage your supplier payments. You can put an end to manual invoice matching & coding, and automate the entire approval process. This way, you can pay every single supplier invoice on time, preventing late fees and capturing more early payment discounts.
Meet IntelliChief: An Automated Invoice Management System for Purchase Order and Non-Purchase-Order Transactions
Invoice processing usually involves several people across several departments – which makes it costly and time-consuming (especially when your business has to verify and pay hundreds of invoices per month.) But with IntelliChief, it’s much easier to process your PO and non-PO based invoices. Our invoice management software automatically:
- Captures supplier invoices as they’re received
- Looks up the corresponding purchase orders & receipts
- Completes a two- or three-way match
- Sends non-PO invoices to the right employees for coding & approval
- Resolves simple discrepancies
- Sends rejected invoices back to purchasing for resolution
- Collects your invoice data and imports it into your ERP
- Creates vouchers & schedules each invoice for payment
Straight Through Invoice Processing
In many cases, IntelliChief can complete the invoice processing cycle straight through (without any input from your employees.) It validates every single line item, making sure each expense is accounted for. It can even convert currencies and units of measure, which means that your team doesn’t have to waste their time on minor data calculations.
Resolving Vendor Invoice Errors
Your team only needs to get involved when there’s a major issue, such as an incorrect charge. And when an invoice needs to be manually resolved, our system provides all of the supporting documentation you need to sort out the error with the supplier. Your Accounts Payable department is notified whenever something needs their review – which means you can process, resolve, and pay for each transaction as quickly as possible.
Mobile Invoice Processing
Invoices don’t stop arriving when your employees are out of the office. But with IntelliChief, you can keep those invoices from piling up.
Thanks to mobile access, your team can approve and code their supplier invoices from a smartphone or tablet. They can remotely communicate with everyone else in the approval chain, which keeps your business from coming to a stop – and helps you avoid late payment fees.
Archive Invoices As They’re Processed
As you process and pay each invoice, it’s saved to an electronic archive. Our invoice tracking system makes note of the payment date (and the employees who approved it.) In the event of an Accounts Payable audit, you can easily see each invoice’s history. And if management ever needs to review an archived transaction, you can search for it by supplier name, purchase order number, payment date, or account number.
How Invoice Processing Software Can Impact Your Bottom Line
Paperless invoice processing helps you save money on the products your business has already bought. Most suppliers offer an early payment discount on invoices that are paid within 10, 15, or 30 days – but companies that manually process their invoices can have a hard time meeting these deadlines.
Automation speeds up the cycle. IntelliChief can even check each invoice’s supplier terms to see if a discount is being offered. Whenever it finds an early payment incentive, our invoice processing software lets you schedule each payment for the next available check run.
It doesn’t matter what Accounts Payable software you use, either. The IntelliChief invoice system can integrate with Oracle Payables, SAP FI, JD Edwards EnterpriseOne, and other accounting programs. Your employees don’t have to copy your invoice data from one system to the next, which gives them even more time to focus on other business.
Find Out How Much Your Business Could Save With Automated Invoice Processing
The more invoices you process, the more your business can save. IntelliChief can help you calculate the impact that automation can make on your bottom line. Contact us today, and we’ll show you what invoice processing software can do for your business.