Why Real-time JD Edwards Integration Matters in AP Automation
It is no surprise that many companies’ paper-intensive AP processes are still (mostly) manual and highly reliant on AP staff, resulting in increasing errors and ever escalating costs to process and pay invoices. AP Automation solutions offer improvement and cost savings, but without real-time integration with Oracle JD Edwards (JDE), companies still struggle with the burdensome work of receiving invoices, verifying receipt in JDE, matching line-item-detail against purchase orders (PO’s), GL coding line-item-detail and vouchering for payment. The cold, hard fact is that the promise of AP Automation is mostly realized and is dependent on the depth of integration between the AP Automation solution and JDE. That’s because the depth of JDE integration mostly determines the amount of manual work that can be eliminated to process an invoice for payment, the robustness of management oversight to more effectively manage AP and the level of insight into managing costs and cash flow.
The average time to process an invoice is 10.9 days and costs $10.18 to process a single invoice. According to Ardent Partners, best-in-class organizations leverage the power of intelligent AP automation and improve efficiency and productivity with 2.2 times higher rate of straight-through processing (STP) and a 60% lower invoice exception rate with advanced manual processing tools. But to achieve those results, tight integration into JDE integration is required to extract the relevant data from AP invoices to maximize the number of invoices that can be processed without human intervention, and get a better handle on your corporate spend and fluctuating cash position.
This presentation explains why a deep integration with JDE will:
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Minimize the time and effort it takes to process invoices
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Eliminate manual data entry and associated errors
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Avoid rework from having to rekey or reprocess invoices
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Simplify exception processing when invoices aren’t matched to POs or aren’t coded correctly
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Improve vendor relationships
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Optimize payment terms
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Increase visibility throughout the AP process
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Improve cash flow