Turn Penalties into Profits with Accounts Payable Automation.
In accounts payable (AP), the challenge is clear: how do you efficiently process a high volume of documents arriving from various sources in various formats? Manually capturing, organizing and entering information into your accounting system can be a burden on resources, have a high margin of error and, more importantly, cost you with late payment penalties. What if you not only processed more invoices with greater accuracy, but you also benefited from early payment discounts?
With an enterprise content management (ECM) system like OnBase, you can do it all: process invoices faster and more accurately, no matter how you receive them – whether by fax, mail, email, EDI, etc. – all while increasing transparency and reducing costs.
A smart accounts payable automation solution allows you to perform a wide range of efficiency-enhancing tasks automatically:
- Minimize errors and decrease costs
- Turn late payments into early payments if you choose
- Leverage 100% visibility so you can see where everything stands, including due dates and outstanding approvals required
- Integrate directly with your accounting system so that there’s no more manual data entry
- Enhance employee experience with embedded email approvals through Microsoft Outlook integration
- Improve response time through automated reminders and escalations
- Minimize manual workflow and decision making
- Allow vendors to check status via self-service inquiries
Are you looking to improve efficiency, increase access and gain greater visibility into your accounts payable processes? Our experts are here to help you increase productivity and profitability with the right AP solution. What’s more, we can support you every step of the way, from strategic planning to implementation to ongoing support.
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