Accounts Payable for Aerospace

With its regulatory compliance pressures and strict design processes, the aerospace sector is one of the most tightly regulated and controlled industries in the world. It is also one of the most paper intensive business sectors, with its large volumes of documentation covering design, manufacturing, testing, maintenance, parts and more.

Staying in control of volumes of paperwork can be a challenge for any organization. Yet with customers, suppliers and regulators located throughout the country and even the world, aerospace companies face even greater pressures to efficiently manage large quantities of paperwork and electronic information.

One issue aerospace organizations face is the efficient management of invoices, expenses, payments, purchase orders, capital requests, fixed assets, and receipts of delivery within the accounts payable department. KeyMark is an experienced provider of document management automation to the aerospace industry and has been instrumental in successfully automating our client’s accounts payable processes, substantially improving efficiency and controlling the procure to pay cycles.

Our award-winning accounts payable document management solution, KeyTrack, provides end-to-end automation, from the mailroom through document archival, and lets you track and access your documents anywhere within that process with the click of a mouse. Our accounts payable clients have increased productivity by as much as 298 percent and cut their cost-per invoice by as much as 64 percent through capturing, classifying, routing, tracking and archiving documents.

KeyTrack automates AP processes regardless of how you receive and process vendor invoices – whether mailed to a central site or multiple remote locations; faxed, transmitted electronically or even e-mailed. And KeyTrack integrates with virtually any application, including systems such as Corridor and other aviation software, so that users can stay within their familiar interfaces and access scanned documents. The solutions we have implemented have ranged from simple scan/store/retrieve of invoices and checks to fully automated front-end scanning, automated data entry (OCR), workflow processing and integration with ERP systems for both image enabling and posting of transactions. We can even engineer the system to match and attach important document types such as parts lists, certificates of conformity, release lists and other documents to appropriate corresponding documents.

Using Keytrack to retrieve and deliver documents provides proof of security, authenticity and compliant processes and helps aerospace organizations stay compliant with AS9100 industry standards and other regulatory standards such as SOX.