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Accounts Payable: Cash flow management software

Manual accounts payable processes are very inefficient and costly. This is especially true if your business receives a high volume of invoices each year.

 

A cash flow management software automate and streamline processing as well as increase the efficiency of your Accounts Payable department. Automation allows invoices to be easily scanned, indexed for search, and seamlessly integrated into your existing financial and ERP systems.

 

Automated paper and electronic document capture, imaging and workflows all contribute to a highly streamlined and efficient process.

 

Companies that implement Accounts Payable management systems maximize productivity and increase profitability.

Challenges

The high cost of an inefficient Accounts Payable department is illustrated below:

 

  • A standard Accounts Payable clerk processes 20 invoices per day on average.
  • The average cost to process an invoice is $17 USD.
  • It takes an average of 16 days to process a single invoice.
  • Companies can receive millions of invoices per year.

 

If you haven’t streamlined your Accounts Payable processing, chances are you are facing the following challenges:

 

  • High costs per invoice.
  • Inefficient processing time and manual procedures.
  • Poor visibility of corporate spending.
  • Inability to take advantage of early payment discounts.

 

These challenges may become increasingly difficult due to financial mergers which add significant complexity to the Accounts Payable process. In order to improve, processing must be streamlined.

Solution

Intellera has the expertise needed to quickly provide solutions for any company seeking to streamline and automate their Accounts Payable processes. Our cash flow management software enable companies to increase employee productivity through the use of automated data capture, intelligent character and pattern recognition,  and workflows.

 

Data is captured from paper or electronic sources, extracted and indexed for search. Key information such as dates, amounts, and line item details, are automatically identified, validated and routed through workflows.

 

Intellera helps your company streamline Accounts Payable processes in the following ways:

 

  • Integration with current systems to facilitate the transfer of information and reduce data entry.
  • Archiving of all captured information for future reference.
  • Automation and re-use of business rules in approval processes.
  • Clear visibility for cash flow planning purposes.

Benefits

Go Paperless

  • With paperless payment processing, you reduce up to 80% of manual data entry.
  • Easily annotate documents and send revisions to other users.
  • Never worry about missing documentation.

 

Save Time and Money

  • Accelerate Accounts Payable transactions and receive early payment discounts.
  • Eliminate additional storage costs.
  • Rapidly identify bottlenecks with increased transparency.

 

Stay Compliant

  • Keep track of everything in one centralized system.
  • Easily meet compliance requirements due to increased visibility.
  • Integrated records retention policies ensure compliance with governmental regulations for storage.

 

Intellera’s expertise in Accounts Payable processing will save your company time, reduce costs and improve efficiency.

Contact us now to get started with your personalized Process Efficiency Assessment!

Case Studies