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Organizations that utilize a paperless Accounts Payable department are faster, less resource-hungry, and more efficient.IntelliChief streamlines Accounts Payable processes for both PO and non-PO invoices with Robotic Process Automation (RPA), enhancing your organization with:
You’ll find these AP automation abilities enable you to noticeably impact your business’s operations, creating convenient, smooth interdepartmental interaction for transaction collaboration, positively affecting cash flow. Vendor discounts are achieved and late payment fees are eliminated. On- and off-site paper document storage costs are substantially reduced.
Tangible cost-saving results of AI in accounting:
IntelliChief gives you the automated ability to enhance, manage, and benefit from your processes:
The timely payment of invoices is a critical operation performed by paperless Accounts Payable departments, in which the company’s cash flow is heavily affected. Being able to control the payment of invoices, taking advantage of vendor discounts, and having visibility to outstanding invoices are some of the key challenges AP departments face on a daily basis. Paper-based invoice processing is adding unnecessary costs to your organization, such as:
IntelliChief’s automated accounts payable solutions can help you take control of invoice processing and eliminate the paper that plagues your company.
When Invoices are received via fax, IntelliChief captures them and places them in an electronic workflow queue. The distribution of this now electronic invoice can be automated so minimal user intervention is required. For Invoices arriving via email, users can simply capture the attached invoice by “printing to IntelliChief”, which simply means they will send the email attachment to IntelliChief’s electronic image archive using IntelliChief’s Print Capture Driver. Invoices that arrive via mail are scanned into IntelliChief so that electronic Workflow can do the task of routing them to the appropriate person, eliminating manual handling of paper invoices. Here is where Forms Recognition Technology can play a hand, automating the task of processing paper invoices.
Which invoice should go to Mary? Who handles vendors with names beginning with letters A through D? These and other questions are what constitutes your business rules. Depending on your processes and policies, invoices need to follow a certain flow. That’s where IntelliChief’s Workflow Engine will kick in and automate the work of distributing invoices to the appropriate person.
For those invoices that require approval before the voucher can be generated, IntelliChief gives you the power to electronically review and approve the invoice. Every action taken on the invoice is recorded in that document’s history so you can always go back and check when the invoice was sent for approval, who approved it, and when. Proxies can be set up in situations where the person is out on vacation. Alerts can tell you whether an invoice is sitting in someone’s inbox for too long. Instead of having to chase after approvals, you will now be able to focus on your work.
If you perform 2-way matching or 3-way matching, IntelliChief can help you get the correct documents ready for your review and eliminate the need for you to get up and look for them. The document matching feature allows you to set up rules that will keep documents in Workflow until their corresponding documents arrive. Invoices can go to a “Waiting for Documents” inbox while waiting for the receiving documents to arrive. Once the receiving documents are in the system and are matched with the invoice, the invoice is then moved to your “Ready for Voucher” inbox and can be easily matched against the receiver and purchase order.
After doing the voucher entry, IntelliChief will automatically re-index the invoice image you have on the screen, ensuring that indexes are up-to-date with your ERP system. The integration between IntelliChief and your ERP guarantees that documents can be retrieved electronically at any time, directly from your ERP screen.
Forms processing or forms recognition technology allows you to scan invoices and identify the data in the invoice automatically, reducing manual user intervention. Typical benefits include:
The more invoices you process on a daily basis, the greater your savings will be. As invoices are scanned, you will be able to:
IntelliChief features AP automation of your audits with IntelliChief Analytics, a multi-system supporting business intelligence platform enabling complete visibility to live documentation in IntelliChief ECM and all integrated business systems, with on-demand reporting encompassing your entire environment.
IntelliChief Analytics facilitates AP automation of internal and independent audits, providing access to all transactional documentation, organized and searchable by any criteria. This capability enables rapid review by auditors through a dedicated workstation, decreasing the time required per audit. Fiscal and resource savings are achieved through:
Through IntelliChief Analytics, both internal and independent auditors are able to report on key data sets beneficial to relay their findings in formats accessible for review by your management, advisor, financier, and investor audiences. Scalable dashboards deliver convenient self-service analytics reporting for each audit, visualizing data intuitively with drop-and-drag simplicity. All reports may be scheduled, shared, and archived in the user’s choice of electronic file format.
IntelliChief Analytics’ versatility provides you and your users with customized reporting views, on any data facet, based on the regulatory environment, company culture, business processes, and presentation preferences, all leading to the ability for exploration and action on insights.
IntelliChief features the most robust content management and process automation capabilities for Accounts Payable. Our Enterprise Content Management (ECM) platform serves as a single, integrated solution for all of your AP Automation needs. Start by digitizing your invoices, then automate invoice processing from start to finish with a proven solution that has already helped hundreds of global leaders gain a competitive advantage.