Achieving the Highest Level of Automation for Accounts Payable Using Oracle EBS
Automate Any Business Process, No Matter How Complex, With IntelliChief AP Automation for Oracle EBS
When organizations start to explore AP Automation for Oracle EBS, they are oftentimes seeking a way to eliminate manual data entry. They understand that manual keying of invoices is a time-consuming and error-prone process, one that they view as a necessary evil. However, as it turns out, manual keying is anything but necessary. By eliminating manual data entry, organizations can diminish AP’s stature as a resource-hungry cost center and turn it into a driver of appreciable ROI.
With AP Automation for Oracle EBS, PO and non-PO invoices that enter your organization can be processed automatically using a combination of OCR software, Document Management, and Workflow Automation. When configured by your ideal vendor, your organization can even automate processes from start to finish, a concept known as “straight-through processing” that generates massive operational improvements in companies with expansive operations covering multiple locations.
Just think, how would your organization be impacted if every invoice that entered your system was automatically matched and processed according to your unique business rules? Or even created an invoice voucher automatically in Oracle EBS? Speaking from firsthand experience, organizations can expect to experience operational improvements of 70 percent or greater with similar reductions to invoice processing costs.
Plotting Your Goals for AP Automation for Oracle EBS
The sheer complexity of SMEs and large enterprises in any industry is typically viewed as an inherent weakness in doing business at scale. The more your organization is responsible for, from headcount to plant management to account management and every other function of the enterprise in-between, the greater and more varied the opportunity for failure — right?
Perhaps not. Although a larger ship can technically be affected by more leaks than a smaller boat due to its physical size, the result will ultimately be the same — a capsized or sunken vessel. If organizations choose to address deficiencies stemming from complexity with a mindset centered around flipping weaknesses into strengths, they can achieve greater success in the future. Automation can help organizations solve problems related to complexity by streamlining, standardizing, and automating AP processes. Common Oracle EBS AP Automation project goals include:
- Reduce or altogether eliminate time-consuming manual data entry
- Mitigate data entry errors resulting from manual keying
- Capitalize on every early payment discount opportunity
- Automate AP processing to only filter exceptions for manual processing
- Eliminate duplicate and late payments
- Take advantage of “straight-through processing”
- Reduce, reallocate, or defer resources
- Improve process visibility
- Establish a reliable business continuity plan backed by technology
Uncovering Unique AP Automation Challenges
You understand how Oracle EBS AP Automation can help your organization gain a competitive advantage, but how do you assure key decision-makers that your chosen solution will deliver the results you’re looking for consistently? Many AP Automation solutions can match invoices against a PO, but that might only account for a fraction of your overall volume; plus, what about your other documents in other departments? With the right solution, these can be managed with automation, too. But let’s get ahead of ourselves, here are some unique AP Automation challenges that only a select number of vendors can address:
- Multiple approvals, routing, and processing of invoices
- Out-of-office approvals and delegation of authority
- Complex AP processes
- Lack of visibility due to internal routing
- Overpaying due to duplicate invoices
- The supplier uses different part numbers than an item in your ERP
- Shipping, taxes, and other charges that need coding
- Quantities are different than the invoiced quantities
- Remote employees without ERP access
Getting Started With AP Automation
To learn more about AP Automation for Oracle EBS, consult a vendor to talk to an expert or request a demo. By talking to an expert, you can determine whether or not your organization is a good fit for AP Automation. Furthermore, you can start to identify which features and integrations you require for a successful project. Once you have put together a shortlist of potential vendors, request a demo to get a feel for the interface, functionality, and flexibility of each solution.
To learn more about how AP Automation for Oracle EBS can help your organization become more resilient, contact IntelliChief today.