Accounts Payable Automation
We provide many solutions to help automate various Accounts Payable tasks like:
- AP invoice processing
- Vendor statement reconciliation
- Vendor portals
- Electronic vendor payment and check printing
Many of these solutions help eliminate, reduce and improve:
- Data entry
- Manual tasks
- Fraudulent payments
- Data compliance issues
- Tracking of transactions
The vast majority of Accounts Payable invoices are still processed by manually routing invoices throughout the organization via email. Users in AP then manually key information from the invoice into the ERP/financial system to process and pay. Significant time is wasted on manual tasks such as; data entry, manual routing, manual follow up, Excel spreadsheet tracking, filing, faxing, copying, mailing, finding misfiled or lost invoices. These tasks typically represent more than half of the cost of invoice processing, significantly decreasing productivity levels and increasing the cost per invoice. Investing in AP invoice automation software can result in eliminating some of these processes that slow down productivity.
Many businesses are choosing digital solutions like vendor portals for vendor related tasks and transactions to remove the manual tasks from the AP team, improve inefficiency, and strengthen vendor relationships. If your organization is still using manual, resource-intensive processes to exchange information with vendors/suppliers, you’re wasting valuable time, money, and labor. Vendor portals can help bring your vendors into electronic communication with your business so you can digitally exchange documents, track, and share processes in real-time, and eliminate manual tasks with your AP and Vendor teams.
A vendor portal is a solution that provides a central hub for vendors to submit invoices, requests, and master updates and to track transactions from start to finish electronically instead of through email and spreadsheets. A vendor portal solution can integrate with your existing enterprise resource planning (ERP) or accounts payable automation platforms.
Vendors can digitally submit invoices which can then go through your internal validation, processes and even be part of your approval and exception processing depending on what parts of the processes you prefer in your ERP system or as part of the vendor portal. With a vendor portal, users can get instant access to approvals and exceptions from any device – mobile or desktop – which means no matter how dispersed your workforce is, you will have access to these processes and data in real time.
The right vendor portal will offer your business multiple benefits including:
- Improved Employee Productivity
- Bottom-Line Savings
- Improved Vendor Relationships
Vendor Statement Recognition
Automating the vendor statement reconciliation process can provide a tremendous amount of return on investment for organizations. Statement reconciliation solutions can reduce the time it takes to process a statement by up to 80 percent as manual labor (document capture, data extraction, data validation, matching, exception processing) is replaced with automation technology. Automation of every statement and every statement transaction increases the accuracy and efficiency of this process. It is supported with reminders, escalations, and statistical dashboards, thus eliminating the manual tracking efforts to know where and why.
Better accuracy. Captured quicker, more accurate, and swifter data entry, identifying the exceptions, and tracking missing transactions enable you to stay on top of payments and credits and keep a tighter and compliant record of transactions. Visibility into this information contributes to significant and repeatable gains in financial health.
Increased efficiency. With employees freed from manually reconciling your vendor statements, they can contribute in more strategic ways to better your financial operations. You’ll no longer need to have employees manually enter data, match data, track down documents, make calls, physically fax, copy, or re-file the documents.
AP Process Director (SAP)
If you already use SAP for your financial operations, you’ve taken the first important step toward a more efficient, profitable business. ReadSoft Process Director takes your financial productivity to the next level.
Managing massive amounts of invoices, sales orders, GL updates, purchase requests, delivery notes, and requisitions is time-consuming and stressful – not to mention high stakes with little room for error. Process Director integrates with your SAP system and automates all your invoice processing.
From inside SAP, Process Director manages your financial process automation to improve your financial department’s profitability and productivity. The solution aligns with end-user skills and compliance. Process Director replaces the need for the users to open additional sessions in SAP to access Tcodes like MIRO, FB03, ME23n, etc. All of these transactions (and more) can be accessed from within Process Director in a single worklist and with more functionality than found in native SAP tools.
AP Invoice Capture to Ariba
Many organizations worldwide are engaging in electronic invoicing with their suppliers over the Ariba Network. The Ariba Network automatically matches and validates your invoices prior to going into your ERP financial system. In essence, Ariba is acting as a workflow solution sitting in front of your ERP financial system. While electronic invoicing can eliminate many paper and electronic invoices, there are always leftovers that require capture, data entry and pushing into the Ariba Invoice Processing solution.
All Star provides the tools to assist with these “out of network” invoices that can comprise a large volume of transactions that can benefit from automation. You will be able to accomplish the following with the All Star invoice capture solution.
All Star’s invoice management solution is the missing link to completing 100% of your invoices into the Ariba Network. This solution will provide the ability to capture invoices from any source that is not a part of the Ariba Network. This solution makes invoice capture and validation as touchless as possible while eliminating 80% – 95% of data entry associated with AP invoices. The integration with the Ariba Network is done using Ariba’s preferred integration techniques complete with error and exception reporting. The solution also allows bi-directional release not only to the Ariba Network, but also to your ERP financial system and/or your content management and workflow solution if not Ariba.
All Star works with you
Through our 3 Step Process
Customized walk-thru of offerings you chose.
Provide a timely, detailed quote
You gain access to measure your return of investment to share with your executives and c-suite.