Image Integrators

ACCOUNTS PAYABLE

The Accounts Payable function today continues to be under close scrutiny for accuracy and process efficiency. The resource intensive process of receiving invoices, entry of information into systems, confirmation against originating order and passing of the invoice around the organisation for approval can be onerous and error prone. With costs to your organisation from poor supplier relationships, late payment penalties and ineffective use of employees time.

At the heart of the issues surrounding Accounts Payable are two key areas: -

  • Purchase Invoice storage and retrieval - efficient, rapid retrieval of invoices at anytime by any employees who need access
  • Invoice Approval - confirming purchase invoices against the originating order and subsequent resolution procedure for invoices that do not match.

These two areas generate the highest levels of costs and inefficiencies. Purchase Invoices being lost and misplaced with no auditability are a common problem - with Image Integrators docStore solution this problem can be removed. Purchase Invoices can be efficiently scanned upon receipt and securely stored, either through a solution where you scan the documents or through our outsourced solution. The Invoice can then be rapidly retrieved through a secure connection from the document management solution or by the simple click of a button within your existing finance or Enterprise Resource Planning system (CODA, Oracle, SAP, JD Edwards, PeopleSoft, Lawson and SUN Accounts)

Invoice approval can result in issues surrounding the matching of the invoice against the order. The invoice may then need to be passed around the organisation resulting in a loss of document control and auditability often resulting in lost and misplaced invoices. With PROCURA from Image Integrators, purchase invoices can be automatically confirmed against the originating purchase order. In instances where the invoice and order does not match the purchase invoice can be passed through a web based, automated invoice approval workflow with email notification informing approvers they have invoices to be actioned.

Suppliers can also be provided with instant access to the status of invoices, with PROCURA Supplier Portal suppliers can enter a secure website and see the status of invoices without disrupting the Accounts Payable department with constant calls chasing payment. Suppliers can also be notified through an instant email in instances where the invoice is being investigated.

Image Integrators solutions allow your organisation to:

  • Eliminate lost and misplaced purchase invoices
  • Reduce costs associated with manual approval
  • Negotiate and benefit from early payment discounts
  • Focus time and resources on more value added activities such as supplier relationships
  • Have unparalleled levels of invoice and process transparency, know exactly where an invoice is and what the status is of the invoice
  • Improve reporting and auditability
  • Continue processing invoices using the same process but with all paper inefficiencies eliminated

Click here to learn how Lakeland Limited and European Metal Recycling have improved efficiency and reduced costs with Image Integrators PROCURA invoice processing and docStore document management solutions.