ACCOUNTS PAYABLE

Business Case for AP Automation

In a tough economy, reducing overhead costs is imminent for all enterprises. Accounts Payable automation Solutions have proven to drastically cut operating costs while improving visibility and efficiency.

Manual, paper-based activities, such as invoice processing and approval can be very expensive since, according to international studies, the average cost per invoice is measured to be approx 18.07$. This cost is at least 5 times higher, in comparison to best-in-class enterprises that have already implemented AP Automation technologies.

Source: Ardent Partners

Additional factors driving companies’ interest in AP improvement are:

• Lack of visibility into invoices and ap documents
• Difficulty finding or managing paper-based documents
• Inability to effectively manage cash according to current business needs
• Risk of payment related fraud
• Difficulty handling high amounts of suppliers inquiries

Source: Aberdeen Group

Papyros ECM Accounts Payable Automation Solution offers central monitoring and easy access to AP processes and documents related to every purchase, such as Invoices, Signed Purchase Orders, Supplier Contracts, Delivery Note, Goods Received Notes, Specification Sheets, Price Lists, RFIs and more.

Invoice Capture

Administrators can use Papyros ECM to set up rules for the automatic capturing of vendor invoices from multiple sources and points of entry in order to minimize repeated manual tasks. Invoices and supporting Application Created Files (eg. XML)  from various folders or FTP sites are automatically imported and archived as new AP Records combining invoice images and data from ERPs, CRM, WMS etc. Papyros ECM reduces required operator positions and centralizes the company’s physical sites into a single digital point of entry.  

Data Capture for Automation

Papyros ECM offers built-in content indexing, barcode recognition and multilingual OCR functionalities eliminating lost time and frustration from usual misplacements and errors. Scanned Invoice Images are automatically archived along with supporting document, organized and instantly accessible on the cloud to all devices (desktop, web browsers, mobiles, and Tablets).

Invoice Approval Workflow

Papyros ECM supports complicated staff hierarchies, automatic, conditional and ad-hoc routing covering the entire vendor invoice approval lifecycle. Routing Rules ensure the employees' compliance with the company’s policies.
eg. Invoice more than 10.000€ need CFO’s approval.

Dispute Resolution

Papyros ECM AP Automation Solution significantly reduces the amount of time and effort it takes for users to resolve invoice disputes such as P.O. varies from Invoice, Wrong goods delivered, Differences between offer and Invoice prices.AP staff can collect, annotate and email all appropriate documents to the vendor resolving common disputes instantly.

Visibility and Control over Operations

Papyros ECM users Users are always in control of their daily tasks and activities due to Papyros’ extensive.Using Papyros ECM powerful reporting engine, managers are able to set up custom workspaces with visual widgets (list, graphs, charts etc.) assigned to custom queries in the database.

Mobility and Speed

ECM Users are notified via in-app and email notifications and can participate in the company’s procedures even when on the move. Papyros ECM eliminates approval workflow “bottlenecks” enabling busy executives review content, approve, reject, assign and delegate tasks from Android and IOS devices.

Import to ERP

Papyros ECM supports two-way data integration by producing and delivering files for use in third-party applications, eliminating manual data entry to ERPs and other line-of-business applications.