Accounts Payable Online: What it Does

Less intervention, more control

Over 70% of all invoice processing costs are swallowed up by document handling and manual data entry, so it’s no surprise that improving back office efficiency results in significant cost savings. Automating data capture, consolidation and storage, AP Online minimises manual intervention and bridges the gap between physical paper based accounting processes and electronic systems. At the front end AP Online:

  • Automatically extracts all of information needed for processing an invoice irrespective of whether it’s on paper, email or fax.

  • Matches invoices, purchase orders and delivery notes (via 3-way reconciliation)

  • Identifies, handles and corrects discrepancies (such as missing PO numbers) with the minimum of manual intervention.

  • Presents invoices in a consistent and user-friendly format for added comment and approval in line with your workflow practices

  • Enables efficient electronic approval for payment or rejection by the nominated function manager/ budget holder

Thanks to inbuilt electronic invoice approval, AP Online saves management time, whilst real time information flow provided within the Manager’s Dashboard gives full visibility and control of all items in the system. Checking the progress on an invoice couldn’t be faster where a full audit trail for each payment is available on screen, helping ensure robust financial compliance.

As well as enhancing financial controls, you can proactively monitor your ‘days to pay’ rating. And from a longer term perspective our solution allows you to comply with document retention rules while saving on storage costs. In fact back end functionality includes real time security protected access to all archived invoices allowing immediate recall and reprint, online faxing and emailing of invoices and credit notes, 24/7. Available with a fully secure offsite archiving facility as standard, AP Online provides an enhanced level of security for accounts payable files in terms of both access rights and disaster recovery protection.