Solutions - Accounts Payable

Solution Description

Through the use of Imaging, Document Management and Workflow technologies, organizations can scan invoices, extract important header/footer information from the invoice, route the document through a workflow process (for coding and approval), upload information into the accounting system and retain the invoice for retrieval. The invoice will be searchable from either the accounting system or a customized search engine and a full audit trail of the entire process will be maintained for every invoice in the system.

Issues Addressed

• Delays at time of capture (slow manual data entry)
• Inefficient circulation for approval (lost invoices)
• Double payment of invoices
• Cumbersome coding (entry errors)
• Resource distraction (vendors calling for payment status)
• Resource retention (knowledge workers versus data entry)
• Slow invoice payment time

Business Value

• Drastically reduce the sorting time for invoices
• Capture header, footer and line item detail automatically
• Address any bottlenecks in the AP process;
• Decrease invoice approval cycle times from weeks to minutes;
• Automate the storage and retrieval of documents without changing how Accounts Payable staff work;
• Address vendor requests in real time when asked about where an invoice is in the process;
• Establish auditable internal processes for visibility, control and accountability;
• Create opportunities for early payment discounts
• Reduced costs related to: imaging, invoice approval, invoice coding, vendor queries as well as accounting audits;
• Process email, paper, fax & electronic forms into the accounting system with minimal effort.

Solution Components

• Kofax Ascent Capture
• Kofax Ascent for Invoices
• Imagine's Invoice Knowledge Base
• OnBase Enterprise Content Management
• OnBase Workflow
• OnBase Integration Modules
• Fujitsu Scanners
• Imagine Professional Services Team

Request More Information