The benefits of automating your AP

89%

reduction in Days Sales Outstanding (DSO)

89%

reduction in past due receivables

Why invest in automating Accounts Payable?

Reduce

  • Time
  • Manual data errors
  • Cost: Administration operations and AP processes

Avoid

  • Delayed payments
  • Manual data entry and invoice routing for approvals
  • Invoice misplacement
  • Discrepancies and exceptions

Gain

  • Visibility into key data (outstanding liabilities)
  • Discounts by on-time invoice approvals
  • Centralized AP processes
  • Employee productivity
  • Better compliance with regulatory requirements (SOX and FASB)
  • Improved supplier relationships
  • Control over financial data

Our Solutions

Cognitive Invoice capture and systematic archival

  • Bulk invoice scan and saved as pdf document for future reference
  • Create an invoice repository [structured (email) and unstructured (paper)] and an audit trail
  • Adding header and GL line coding
  • Create exceptions for validating duplications
 Invoice capturing & systematic archival

Intelligent 3-way matching of PO, invoice and receipt orders

  • Identify and read invoice characters & match it with PO and receipt orders
  • Configure templates and set threshold limits to throw exceptions
Intelligent 3-way matching of PO

Creation of Approval workflow using our BPM tools

  • Create workflows for approvals with timelines
  • Create special workflows for invoices without PO or with certain specific spending limit
  • Easily setup the approver reminders in their mobile phone and enable approvals in one click on the go
Approval workflow with BPM

Automated B2B payments

  • Centralized management of all payments through our integrated payment services
  • Automatically records all payments details and send the remittance details to vendors
 Automated B2B payments

Performance-oriented Analytics

  • Accessibility and tracking of all invoices and documents made easy through uploading all in-voices and receipts
  • Identifying bottlenecks, improving user performance and overall proficiency through our robust Reporting and Analytics process
performance oriented analytics
F & A Automation Testimonial

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