Accounts Payable Automation

Accounts Payable processes are critical to your business. You know what they always say, “The simpler, the better.” That’s why we’d like to simplify your routines and improve your business.

Automate your process Any format, any source
From arrival to archival, we can customise an efficient workflow to help streamline verification and exception handling for your business. Be it physical and electronic documents, or images, via mail, email, fax or file transfer, you pass them through the workflow to your colleagues.
Improve what you have Increase visibility
Your choice of ERP/financial system can be integrated into the system. With the automation, you will be able to see results in your business growth and ultimately, bringing in profit to your company.

In this electronic generation, Accounts Payable Automation (or AP automation) has become a trend and many companies, locally and internationally, has turned to this effective and cost-saving system for their businesses.

What the AP Automation allows you to do includes having a tighter control on received and invoiced goods, and matching of purchase order automatically. Not only does it enhance security for your business, it also aids in your overall business efficiency with lesser manual work and fast processing time. Lesser errors will also surface with the automation. Overall, time can be channeled to higher business strategies and planning for your organisation.

How it works

Firstly, physical invoices are scanned and digitised into soft copies. From the digitised invoices, the AP automation can extract information of your choice automatically. As for the electronic invoices, they will be directly imported into the system.

Then, the AP automation matches the extracted information against the corresponding purchase orders. When both the purchase order and the invoice match, they will be posted for payment. If the purchase order is not available, it will be routed to the related personnel in a cost allocation cycle.

With the AP automation, you can follow the whole accounts payable cycle, giving you better and fuller control over costs and other related issues. This will provide you with a complete audit trail to support compliance with legislation such as the Sarbanes Oxley act (SOX.)

Benefits

  • More cost effective as compared to manual handling,
  • Time is saved on manual handling, allowing your staff to focus on other aspects of their work scopes,
  • A better and tighter control over your AP cycle.
  • Enabling you to take advantage of early payment discounts and avoid late payment penalties.

No matter which industry you are in, the accounts payable processes are similar. Our experiences cover various fields, including public service organisations and governmental bodies, with very specific legislation, rules and business practices.