Accounts Payable Automation
Take total control of your accounts payable process with the use of Smart AP from MEDI. Smart AP is a workflow automation solution which allows you to automate invoice processing through the use of machine learning to overcome the challenges associated with manual processing of paper based invoices.
Imagine showing your CFO how your AP department has captured 35% more early payment discounts – or that you’re processing invoices electronically at the cost of $3 per invoice, rather than $30 per invoice – saving your company thousands of dollars every month. With Smart AP from MEDI that dream becomes a reality.
What kinds of problems do you run into with the accounts payable process?
Things like multiple invoice formats, data entry errors, and other problems can hold you up with your accounts payable. Not to mention the fact that payment processing manually can make you miss out on the benefits of early payments and cause you to accrue late payment fees. Manual accounts payable can also lead to high-costs to comply with audits, but why succumb to undue stress when you can transition into real-time AP automation?
How can your company benefit from automated invoice processing?
With Smart AP, you will never have to worry about where your invoices are in the approval process. Once ingested into Smart AP you can instantly view any invoice from your desktop, laptop or mobile device and see what stages it’s at in the approval workflow. Not only do you get real-time insight into your approval and AP processes, but rule-based workflows automatically move your invoices to the next person in the process. Does your CFO need to approve any invoice over $15,000? No problem, Smart AP will automatically loop them in anytime the invoice exceeds that threshold. Are you tired of redundant data entry? Smart AP can help you there too! The ability to connect with your existing line of business systems, such as an ERP system, means information that is captured from the invoices can be automatically pushed to your ERP database. We can even pull data from your purchase orders and other databases to streamline the indexing in Smart AP.
If you’re interested in saving money, reducing your overhead, and speeding up your business processes, then you will be happy to know that automation is the answer. AP expenses can be reduced by as much as 70% when you use our Smart AP E-vantage software for invoice management. Not only that, but your accounts payable department will reap the benefits of a higher productivity rate with less paperwork flying across their desk. Smart AP is entirely audit-friendly, every action within the system records the time and user information, for simple and accurate audit trails.
Key features of Smart AP E-vantage:
- Real-time visibility into your accounts payable approval process
- Mobile app support means staff can approve invoices from anywhere
- The ability to capture early payment discounts and avoid late payment fees
- Rule-based approval workflows keep everything on track
- Integration with your ERP system eliminates redundant data entry and indexing
Contact MEDI when you need efficient solutions.
MEDI offers a wide variety of services to meet your business’s needs. We can convert your paper documents into digital, automate your accounts payable, provide you with the document scanning equipment you need, and support you through every step of the process. When you’re ready to take your business from physical to digital, contact us. We’ll make sure that you have all the tools you need to make your business run smoothly.