Advanced Processing & Imaging, Inc. Blog Simplify AP Processing

Are These Your Challenges?You use an Accounts Payable (AP) system for your AP processing but you still need a way to speed business processes and reduce costs. You most likely face repetitive, manual data entry in forms and other business documents. You still have the laborious tasks of copying, routing, maintaining and archiving paper invoices and electronic files. Inefficient paper-based processes inhibit productivity and misfiled records are a nightmare. Can you quantify what manual processes and paper documents cost your organization each year?The SolutionDocument management solutions have been used by small, medium and large organizations for over twenty years. What started out as a simple way to convert paper documents into digital images has evolved into a powerful workflow and document management solution that will help you automate any manual process and eliminate the paper shuffle. It's the perfect solution for AP Processing.An integrated document management and workflow solution will increase business efficiency, enhance user experience, and improve the delivery of services. It's designed to minimize manual data entry, eliminate dependency on paper, and automate workflows-based on the way you do business! You get a secure central repository for all enterprise content that takes the paper shuffle out of business workflows and maximizes the efficiency of daily operations.Look for a solution that offers some integration with your AP Processing system, which means information can be extracted and stored automatically to avoid redundant data entry and avoid mistakes. This means information like vendor name and address, purchase order information, receiving and packing slip information, and so much more gets auto populated during the workflow and approval process to save time and reduce errors. All staff approvals, rejections, notes and requests are captured and stored with all the documents for processing and auditing. Every department in the organization that's part of the AP process will use the solution to streamline processes and securely distribute supporting documents and information so you can process more invoices faster, with less effort and at lower cost. And staff only see the information that you want them to see-you get complete security and control! With its unique process monitoring and decision management engine, the reviewing and approval of invoice workflows can be automatically initiated, managed, and tracked.How it Works - By the NumbersWhen invoices are received by the AP department, they are scanned into the system.The workflow system automatically presents an electronic form where staff enter a unique identifying field-such as a vendor number or PO number. The system then pre-populates the workflow form with all the pertinent information from the AP system and automatically associates and presents all information and images including documents like purchase orders, packing slips and invoices.The next step in the process would be review and approval by other departments including receiving, purchasing, and even the original requester. Unlike paper-based manual processes where copies of invoices are physically distributed through the organization, the automated workflow will send all the information out electronically for approval.All approvals, rejections and annotations are captured along with the original documents for a complete auditable trail. All information added by staff during the review process can be scheduled to be uploaded back into the AP system if desired.Management can run reports at any time and see where all invoices are during the process.A Checklist to get you startedSo how can you prepare? You need to document how you process your invoices today, including the different staff and departments that are included in your process. Here are some sample implementation questions to help get you started:Where are the invoices originally processed-in a central area or individual department?Are invoices input into the AP system prior to the approval process or after?Where are the invoices stored?What is the filing system scheme-stored by vendor name as example?What is the approval process? Who is included in the process?What supporting documents are required to approve an invoice?Are copies of supporting documents (such as purchase orders, packing slips) stored with the invoice?What is the process if invoices are not approved?Will you destroy all paper documents after imaging?Bottom Line BenefitsWith a document management and workflow solution invoices and supporting documents are available nearly instantaneously and the AP process is completed far faster with less cost and risk. There is greater accountability amongst AP staff with improved decision-making. Seamless integration with the AP system streamlines the process and ensures accurate information is securely and easily accessible on demand. A flexible and customizable workflow will enable further process enhancement and deliver greater accounting insight. Within the first year most AP departments using a document management and workflow solution significantly reduced operating expenses and increased invoice processing volume.If you're not already using a document management system along with your AP/ERP system, you should be.The author Bennett Klein is Sr. Director of Marketing at Advanced Processing & Imaging (API). Bennett has over 25 years' experience in data management and protection technologies. API develops and sells document management and workflow automation software solutions. For more information and a live demonstration over the web, call (800) 430-7011 or e-mail us at info@apimg.com. You can also visit www.apimg.com