Accounts payable processing

Accounts payable processing gives flexibility to purchase requisition management without losing control.

Accounts Payable (AP) is a business overhead that does not contribute to the bottom-line. By automating or outsourcing the accounts payable processing function, you will reduce business process costs, increase staff productivity, and provide tight controls over operational payments.

Software such as Basware allows accounts payable processing to be speeded up by approx 50%. This can reduce hardware requisition process costs by enabling companies to make best use of time critical payments which may attract supplier discounts.

Accounts payable processing allows a wide variety of invoices to be scanned at the same time and for them to be automatically reconciled against the original purchase order with minimal user intervention or data entry. The system achieves this by sophisticated OCR and data matching techniques within the software. You can store and retrieve all your invoices as electronic images and eliminate the need for rows of filing cabinets. Any invoice you want can quickly be accessed on your desktop PC.

Once the data for the invoice has been extracted it can be validated then archived automatically in the document database. Internal or remote staff can access the database to approve, pay and file documents. The benefits of accounts payable processing go well beyond the accounting department. Every division in your company will benefit from automated data entry.