How Does it Work?
We extract data from invoices with advanced intelligent capture technology and provide human and machine based data verification services. Our SaaS accounts payable imaging solution APSmart provides electronic workflow for approval processes, exception handling, storage, and retrieval, and full integration with your ERP or accounting system.
Our clients reduce administrative costs by more than 70%, while realizing several strategic benefits including:
Manual accounts payable invoice processing for most organizations is inefficient, non-strategic, costly, and challenging. Not only is it error prone, the risks for organizations relying on paper based processes can be significant:
We offer a complete lifecycle of services that help you offload the burden of these manual processes:
Invoice Conversion: We provide multiple ways to have your invoices sent to us including direct upload, FTP transfer, e-mail monitoring, vendor portal, and mail receipt and scanning. No matter how you prefer to have your documents sent to us, we’ll convert them to data at the outset to drive the process forward dynamically.
Data Recognition: Our cloud-based OCR technology will convert your invoices to data so that they can be dynamically ingested into your ERP system. Our processing staff cleans up low confidence characters to ensure high data quality standards.
Data Validation: By integrating to your vendor master, purchase order, general ledger code data, we’re able to automate nearly all manual validation steps that your staff would undertake and make straight through processing a reality for the majority of your invoices.
APSmart: Our cloud-based document management solution will provide you with access to invoices and supporting documents after they’ve been scanned and auto-indexed. APSmart’s workflow engine is customizable to your unique business rules and enables you to only have to manage exceptions and the approval process for non-po based invoices – freeing up your valuable resources to focus on strategic duties.
Integration: Through our flexible approach to integrating APSmart to your accounting system, we’ll free your AP team from the burdens of data entry. We employ numerous integration methods including direct, API, XML, CSV, and robotic automation.
Electronic Payments: With our integrated ePayments module, you can directly invoke electronic payment methods including ACH and virtual credit card transactions. By doing so you can enhance controls over your payments and monetize your process to transform your accounts payable process into a profit center.