AP Invoice Automation

Transcription

1 AP Invoice Automation Finance and Accounting Solutions Document Management Software for Microsoft Windows

2 Reduce cost and increase accuracy Accounts Payable Invoice Automation Introducing Accounts Payable Invoice Automation using DL document management software by ColumbiaSoft. Improve the speed and accuracy of accounts payable procedures in a closed-loop system that reduces costs, enforces consistency, and shortens processing time. A closed-loop system for paperless AP approval processing Digital capture Profiling Error checking Workflow routing Notifications and alerts Approvals Watermarking Processing and archiving Lower the cost and speed-up the pace of Accounts Payable procedures with an efficient, paperless approach to invoice processing. Everything is managed electronically for greater accuracy and speed. in Document Locator replaces paper-based invoice processing with an organized, structured system. Invoices arriving by paper, fax, , or FTP are quickly converted into the digital system, routed for approval, and processed for payment. Notifications and alerts keep everyone informed, while reports provide visibility throughout. Reducing the handling and material expense of invoice processing by streamlining steps to avoid mailing, copying, and manually routing files, adds up to savings in the cost to process each invoice. Automated procedures also eliminate errors and delays with lost or misplaced invoices, lowering the cost of invoice processing even further and avoiding everything from costly missed payments to check re-issues. Prior to Document Locator, a lot of hours were spent by department managers going through filing cabinets researching hard copies of invoices for budgeting, payment histories, and new project planning. Horizon House In addition to lowering cost, more efficient approval procedures add flexibility to payment cycles. This can yield improved cash flow, faster revenue in billable services, and the ability to take advantage of early pay discounts. Benefits of : Invoices arrive in Document Locator where they are quickly profiled, routed for approval, and processed for payment. Everything is saved, searchable, and organized for easy retrieval. Improve consistency and visibility with reports that monitor invoice processing cycles. Scale to meet demand during peak processing periods with the ability to quickly ramp-up processing when volume gets heavy. Three-way match invoices, purchase orders, and shipping documents in digital order packages. Audits are streamlined. Everything is full text searchable, cross-referenced with index data, and digitally organized. The solution is built on ColumbiaSoft s DL document control platform.

3 The invoice approval process Step Description Digital Capture Invoices arriving by mail, fax, , FTP, or other paper and electronic sources are quickly converted to full-text searchable digital files and made ready for processing in DL. Profiling Using the DL Profiler tool, invoices are quickly categorized with metadata values including PO#, Invoice#, amount, and other indexing values. Auto Filing Using index values, invoices are auto-named, saved into the correct digital order package, and then routed into their appropriate approval workflows. Validation Verification of index values ensures that invoices are ready to proceed before continuing into approval steps. Rejected invoices are held for additional review. Routing Automated workflow notifies approvers with alerts and s. Every approval is captured electronically. The risk of lost, misplaced, or forgotten files are eliminated. Accounting Approval Once approved, routing decisions determine if any additional approval steps are necessary based on variables such as dollar amount or spending authority. Built into Microsoft Windows, it s easy for people to use. Invoices are managed in a document control system that is built right inside Microsoft Windows Explorer. Folders and files appear just like a shared network drive. This makes everything familiar and easy to use. Invoices can be previewed, while informative hover-over s provide an instant view of metadata index values. Those same values can also be mapped to column headings for quick viewing and sorting. Invoices are stored in digital order packages with PO s, shipping documents, and other related files that make it easy to perform three-way checking. Invoices in Document Locator are fulltext searchable and digital watermarks can be applied throughout the process. Processing With invoices approved for payment, data is ready for export to accounting applications, and files archived.

4 Quickly index files with metadata Invoices are quickly categorized with metadata index values using the built-in DL Profiler tool. The Profiler tool displays a side-by-side file preview along with fields for metadata on a single screen, allowing document processors to quickly categorize invoices with index values. Once indexed, invoices are automatically named, saved to the appropriate digital order package, and immediately routed for approval. Reporting and logging provide insight and streamline audits Gain a clear view of invoices throughout the approval cycle. Reporting improves the ability to forecast, and allows monitoring and tracking of invoices as approvals progress. Added visibility also increases the ability to spot irregularities early, and improve procedures. View the status of invoices in processing Monitor processing performance Identify bottlenecks and areas for improvement Everything is digitally logged and reported in the document management system. This improves compliance, and makes financial and regulatory audits stress-free. A complete system for document management Standard indexing values include everything needed for three-way matching and in support of Generally Accepted Accounting Principles (GAAP). Additional properties can be added to align with business objectives. All the capabilities of document control are included in a single Windows-integrated platform in Document Locator.

5 ColumbiaSoft Finance and Accounting Solutions Accounts Receivable Digital Check Management Policy and Procedure Management ColumbiaSoft is a leading document management solutions company. Since 1998, we ve been helping businesses and organizations improve efficiency and reduce risk. Our solutions are fully integrated with Microsoft and other leading software technologies, making it easy for people to use. We are headquartered in the United States, and provide all development, support, and services from the U.S. Contact us to learn more. ColumbiaSoft Corporation S.W. Sequoia Parkway, Suite 190 Portland, OR 97224