Streamline Your Invoice Processing for Enhanced Efficiency
Reliable invoice processing workflows are vital for many reasons—not only because they guarantee paying your vendors on time. Without a solution that offers unhindered visibility of the process, you could lose sight of the true nature of your company’s cash flow situation. You’ll find it challenging to understand when and how you can make expenditures to help the business without insight. Also, your daily workflow and planning for the future becomes tougher.
Issues can occur across the process. For instance, the initial input of invoice data into your systems, missed data hand-offs, human errors and much more. Streamlining your processes to eliminate mistakes and reduce friction is an important goal—and today’s automation technology makes it possible.
Consider why you should explore investing in a solution like Kofax AP Essentials and discover how to reshape your processes for a smarter, faster future workflow.
How Does Better Invoice Processing Improve Efficiency?
Introducing automation for processing invoices creates numerous opportunities for improvements. Most of the inefficiencies in invoicing come from mundane and repetitive tasks: capturing data from forms, depositing files into the correct business system, or chasing down errors introduced at some earlier stage. Automation helps with all these issues and generates benefits such as:
Fewer direct human interactions with invoice data, which means fewer opportunities for errors.
AI-powered cognitive capture classifies and extracts data with automatic exception handling so humans can double-check critical fields.
Better regulatory and tax law compliance with clear audit trails.
Broad visibility into invoice status and process health.
Getting started is simple with the right solutions.
What AP Essentials Offers to Your Business
AP Essentials features an array of automation technologies companies of all sizes can use for reshaping invoice processes. No matter where your invoices originate, a capture channel is ready for you to use. Integrating AP Essentials with your existing enterprise software is also straightforward. Some of the key features that make your invoice work more efficient include the following:
Industry-leading OCR for accurate invoice capture, whether from within an emailed PDF or a scanned hard copy.
Workflow automation that passes invoices from stage to stage at the appropriate time.
End-to-end automation for processing and payment approvals when invoices align with business-defined thresholds.
A rapid ROI through simpler integration and less setup time.
Already powerful out of the box, you can extend AP Essentials to do even more.
Using the AP Essentials Integration Package for a Running Start
The AP Essentials Integration Package is a pre-built solution that instantly builds connections to your most-used enterprise software. Kofax Professional Services helps companies eliminate the errors that often plague hand-offs in the AP process. With built-in integrations for software such as SharePoint, Laserfiche, common database types (such as SQL and Oracle) and many others, there’s no coding required to set up this package. Sharing key information between systems is now much simpler.
AP teams shouldn’t need to swap between software to continually enter identical data across systems. It wastes time and increases the likelihood of errors. Use the Integration Package to ensure validated data moves directly into your procedures and make frustrating file drops a thing of the past.