Accounts Payable is a document intensive process - Where an organisation has a manual AP process in place, it is not uncommon to see desks laden with papers. Invoices also usually pass through lots of different hands before they reach the AP department, the process requires a lot of time and labor and the risk for human error is high.
These issues, among others, means an AP department can be costly to run. Research has shown that it can cost anything from $8 to $30 to process one invoice manually.
ECM automates and streamlines the AP Process, which improves efficiency, prevents errors and reduces costs.
With ECM you can:
- Eliminate Data entry - with automatic extraction
- Automatically match invoice lines to PO lines
- Workflow exceptions - Manage non-PO invoices with an automated hierarchical approval flow
- Gain insights into purchasing trends, cashflow, vendor habits and more
OnBase Solution for AP Automation:
- Capture documents and data – Invoices, PO’s, packing slips, documents received via email
- Manage information in one location
- Access content anywhere
- Integrate with your other applications
- Measure processes and system performances
- Store and protect data