Studies have reported that invoice processing automation can reduce cost per invoice by 50-80 percent. By eliminating the need for manual document entry and data extraction, Kofax MarkView® for Oracle can help you drastically reduce your operational costs. The higher the level of touch-less processing you achieve, the greater the cost reduction.
Processing invoices manually is time-consuming, tedious and often error-prone for AP staff. Integrate Kofax MarkView with your Oracle EBS application to reduce AP invoice preparation, manager approval and time spent handling invoices. As a result, you will reduce cycle times and free up knowledge workers to re-focus on strategic activities such as data analysis, customer service or query resolution.
Automated AP processing reduces the need for humans to interact with confidential data, increasing security and reducing errors. After extraction, sensitive data can be routed only to key personnel, allowing supplier confidentiality issues to be addressed. Powerful data validation capabilities ensure that extracted data is correct before it is processed and sent through the approval cycle, resulting in fewer processing exceptions and fewer payment disputes.
Give AP a line of sight into processes to help easily detect and resolve issues and process bottlenecks. Integrate, Kofax Analytics for MarkView®, an advanced analytics and process intelligence solution, for access to real-time data to make continuous improvements from performance metrics and process monitoring. Easily track benchmarks such as cost per invoice and line item.
Nearly half of supplier inquiries are simple questions. Empower vendors and suppliers with access to a self-service supplier portal and you will reduce support calls while enhancing buyer-supplier communication.