Your AP department is entrusted with properly managing the payment of invoices and optimizing your company’s cash and assets. These vital functions are often challenging and complex when you lack visibility and control over manual tasks that drive your accounts payable process in SAP.
ReadSoft Process Director for Accounts Payable™ is an SAP certified solution that automates invoice processing inside your familiar SAP environment. It eliminates labor-intensive invoice processing steps, provides real-time process visibility and controls exception-handling through automated workflow, flexible checks and comprehensive validation.
Centralize management of your accounting transactions, vendor activity, workflows, invoices and PO data via a single access point. You’ll have complete oversight and control of your invoices, including visibility into the history and audit trail of all actions, including workflow.
With PO matching, approval routing and data transfer into ReadSoft Process Director™ automated, your AP department’s productivity will increase as cycle times go down. In fact, one Kofax customer decreased their invoice cycle time from 32 to six days. You’ll also free staff from routine tasks to focus on exception handling and other more strategic projects.
Dramatically lower invoice processing costs through staff time reductions, automated routing, reduced error rates, duplicates elimination, and leveraging early pay discounts. This combination of higher efficiency and more opportunities for savings allowed one Kofax customer to reduce their cost per invoice from $7 to $1.50 in Europe and from $5 to $2.25 in the U.S., and at the same time focus staff on more strategic initiatives.
With centralized access to multiple SAP systems, the process for handling exceptions and discrepancies is accelerated. Automated workflow provides a high level of control over invoice processing in SAP, and users have a single view to address pending tasks.
Up to 25% of an AP department’s time is spent responding to questions from suppliers. ReadSoft Supplier Portal™, a self-service portal, enables suppliers to register, communicate with accounting and have real-time visibility into the status of their invoices, which reduces time-consuming inquiries while improving supplier relationships.