Paperless & Automated Accounts Payable

Paperless & Automated Accounts Payable

With a paper intensive and manual process such as AP, eCom’s solution delivers the tangible benefits of reduced accounting costs; reduced AP FTE count; improved cash flow reporting; real-time transaction visibility and measurability; improved compliance and better supplier relations.
The return on investment from automating AP can be significant, with eCom clients such as APN being able to absorb increased business activity (additional 10,000 invoices per month) without the need for additional resources. Other eCom clients have been able to reduce AP staffing levels by 70%, in spite of a 28% increase in work volume over a two year period.
Our AP Automation solution is based on Oracle’s Information and Process Management (IPM); a tightly integrated enterprise Document and Business Process Management (BPM) platform that reduces paper dependency and increases operational efficiency across the enterprise.
Despite investments in financial systems, ERP, EDI (Electronic Data Interchange), scanning technologies and process reviews, many AP departments struggle to gain control of their payables process and suffer from chokepoints and bottlenecks contributing to:

  • High FTE count to invoice volume ratio

  • Too many manual processes between people & systems

  • Lack of visibility (Cash flow reporting, accruals, exceptions etc.)

  • Lost invoices, duplicates and missed discounts

  • Lack of compliance and audit capabilities

  • High transactional cost per invoice

eCom has combined best-of-breed enterprise content and process management technology with over a decade of direct experience to provide a range of prebuilt frameworks that facilitate the rapid deployment of best practice AP Automation. With a single platform that fuses people, processes and systems within AP, we deliver a robust, flexible and proven solution to the day-to-day challenges of running an AP department.
Our eCom AP Automation solution includes, but is not limited to these features and functionality:

  • Exceptions capture management (invalid supplier, invalid PO etc.)

  • Automatic matching (within tolerances) and automatic routing

  • Manual matching of PO based invoices (one to many POs)

  • Delayed matching and re-matching

  • GL coding of non-PO invoices.

  • Selective GL coding presentation based on user role. (Translates to Finance system GL coding)

  • Validates against the assets database

  • Self-learning GL coding for repetitive invoices

  • Automatic business unit assignment

  • Approval framework (single level for PO, two levels for GL)

  • Line level

  • Delegation (out-of-office)

  • Delegated authority (approval by admin or PA)

  • Split invoices

  • Dispute framework for both PO and GL invoices at the line level

  • Automatic escalation

  • Credit notes management

  • Urgent invoices facility

  • Workflow archive for auditing for compliance

  • Auto save, package unlocking & timeout management

  • Messaging/event notifications

  • WIP reporting with month end accruals

  • In-house or outsourced deliverable

AP Automation solutions leverage capture technology (faxing, imaging and optical character reading OCR). Ideally organisations should seek to automate as many of the invoices coming through the door as possible. However, the major value gained will be in the management capabilities of these solutions; such as routing/workflow and decision support. You can expect an astutely applied AP Automation solution to deliver key successful outcomes that:
Reduce cost by around 75%
Improve productivity
Leverage existing technology investments
Reduce the complexity of ERP solutions
Strengthen controls and improve compliance
Enforce common processes across multiple ERP’s and shared services
Improve collaboration both internally and externally
Improves visibility with real-time accurate reporting
Improves cash flow & accrual reporting
Mark Smith - Shared Services Manager, APN
“As an organisation we process around 130,000 AP invoices per annum, or 10 to 12,000 invoices per month. A team of 2 to 3 people manages this. We could now easily add another 10,000 invoices a month without the need to increase resources.”

Call eCom today to reduce your costs through Paperless & automated accounts payable.