HELP IS A FEW FORM FIELDS AWAY!

Whether you're ready to transition from physical to digital, or if you simply have a few questions, fill out the form below, and one of our experienced staff will connect with you right away!

HELP IS JUST A PHONE CALL AWAY!

1-800-731-6334

Accounts Payable Automation

Written By: David Miller

Accounts payable automation or AP automation is the term used to describe the ongoing effort of streamlining the business process and workflow of an accounts payable department. The process is straightforward, however, can become very cumbersome, especially if a company has a very large number of invoices. Problems are compounded when invoices that require processing are on paper. This can lead to lost invoices, human error during data entry, and invoice duplicates. These and other problems lead to a high cost per invoice metric. The goal of automating the accounts payable department is to streamline this invoicing process, eliminate potential human error, and lower the cost per invoice.

Did you know that it costs approximately $38.00 to process a single invoice?

Some of the most common AP automation solutions include; E-invoicing, scanning and workflow, online tracking, reporting capabilities, electronic invoice user interfaces, supplier networks, payment services and spend analytics for all invoices.
When business adopt AP Automation the invoice arrival and presentation is almost immediate invoices are paid sooner; therefore, the amount of time and money it takes to process these invoices is greatly reduced.

Did you know that with AP Automation it costs approximately $3.00 to process an invoice?

These solutions usually involve a third party company that provides and supports an application which allows a supplier to submit an electronic invoice to their customer for immediate routing, approval, and payment.

Here at MEDI we want to support your business; before, during and after your organizations transition to a fully automated Accounts Payable process.
Because…..

• More Efficient = More Effective. With an easy to learn and simple to use platform; automated workflow reduces invoice processing time, eliminates data entry errors and increases productivity along every step of your AP workflow.
• Intelligent Data Capture will show how smart you are. With intelligent data capture, invoice data is electronically extracted and categorized, then routed for two and three-way matching and approvals. Manual data entry and entry errors are eliminated.
• Being in Compliance is a Snap with secure, permission-based access with audit trail make complying with accounting and industry regulations easier. The audit process is more manageable with onsite or remote access to the electronic data.
• Powerful Integrations Make Your Job Easier by eliminating duplicate data entry by accessing invoices and related documents within your accounting and ERP systems. Export data directly to Excel for even more flexible reporting.
• Secure Access at Any Time, From Anywhere allows you to securely review, route and approve invoices from anywhere at any time, on any desktop or mobile device to ensure the procure-to-pay process is fast and efficient.
• Free Up Your Budget for Better Investments. Think about it; paper, files, staples, paperclips, filing cabinets, printer supplies and storage. It adds up. Invoice processing with a smart AP Automation helps you to cut costs and increase productivity.

Give us a call (800) 731-6334 or send us an email to sales@medimicro.com if you’d like to learn more.

FUN FACT: The US treasury estimated that implementing e-invoicing across the entire federal government would reduce cost by 50% and save $450 million annually

This entry was posted on Friday, June 5th, 2015 at 8:13 am. Both comments and pings are currently closed.

Comments are closed.



Recent News

  • Document Imaging and the Public Sectors need for going Paperless

    Document imaging needs of the public sector has grown significantly over the years.  Historically the public sector has always "had a form for that" and subsequently has needed to store that form.  And with the costs rising and budget shrinking...

    Read More
  • Online forms and the future of document management

    Online forms will revolutionize the document management industry. If they have not already.  What we are talking about are forms that we as customers and consumers fill out for a variety of purposes.  Some common examples are; when we start...

    Read More
  • How can I lower my invoice processing errors?

    Does this sound familiar?  Last month my business lost money because of invoice processing errors.  Let me start at the beginning.  As part of a solution set for our customers, we buy high-end printers and scanners from a distributor for...

    Read More

Get in Touch

Fill out this quick contact form and one of our representatives will be in touch