Transform your Accounts Payable Process
Businesses process billions of invoices every year, and research suggests the number sent and received could quadruple by 2035. Leveraging intelligent technology will help handle the scale and ensure greater efficiency and accuracy — and all the associated cost savings.
A typical AP employee can spend on average 30% of their time handling invoices proving that manual data processing is an ineffective use of time and resources.
Gartner estimate that the typical cost of processing a manual invoice in the UK averages between £4 and £25, and in some cases up to £50 for an individual invoice.
Automating your invoice capture provides an efficient alternative to manual processing by providing benefits that not only help to significantly reduce costs, but also boost the productivity of your AP department. The average cost of processing an invoice via an automated process can be up to 20x less than manual-based processes.
Improved Efficiency with AI
If you have experienced OCR systems in the past, you will agree that they are notoriously high maintenance and have lower accuracy rates. The advent of AI technology reduces human touchpoints through intelligent invoice processing. Increased automation speeds up your AP cycle time, reduces costs and increases options for capturing savings. PA Intelligent Invoice Capture ensures high percentage data accuracy and saves time on your first day.
The Professional Advantage Difference
As you would expect from a Professional Advantage solution, PA Intelligent Invoice Capture is deeply integrated with both Infor SunSystems and iPOS eProcurement. As invoice data is extracted, it is then contextualised and automatically structured to meet the requirements for invoice entry in iPOS or Infor SunSystems. Rules and logic are applied to add coding held within Infor SunSystems such as Supplier Codes. Where an invoice is the result of an order that has been processed through iPOS, the system adds required information to allow for easy automatic matching to the order and presents the invoice to iPOS for processing. For direct invoices, with no associated order, the invoice is presented to iPOS and passed for approval and further coding based on built in business logic. Images of the invoice are visible to approvers and operators within iPOS.
PA Intelligent Invoice Capture offers flexibility utlising a configurable API which allows connection to any target procurement or financial system where that system has the capability to accept such a feed.
PA Intelligent Invoice Capture ensures high percentage data accuracy and save time on your first day.
Works out of the box for instant data capture
Improves operational efficiencies
Make Your Accounts Payable More Profitable
Want to know more?
We understand that the software selection process takes time and research. PA has helped many organisations like yours transform the way they do business. Download our Intelligence Invoice Capture brochure to learn more.Download now