Is your handling of mission-critical tasks holding back your business from achieving more? Processes that continue relying on primarily manual workflows, such as accounts payable and ordering, can introduce too many errors and issues into your daily operations. The results can include missed or late payments, poor visibility into your company’s everyday financial health, negative experiences for vendors, and much more. Connecting advanced automation, including X3CloudDocs and Kofax AP Essentials (previously ReadSoft), is the way into the future.
When exploring changes to how your teams work, there are several elements of importance to consider. First, you need to implement a solution quickly to avoid disruption. After all, these aren’t processes where you can just press “pause” and expect others to wait for you to get up to speed. Second, you’ll need a clear path toward a positive return on your investment. Process improvements through automation should be winning opportunities, not money losers.
Finally, you need a solution that capably addresses the problems current companies need to address in their financial workflows. Explore those issues and how connecting AP Essentials with Sage X3 via X3CloudDocs can benefit your business.
Why Today’s Financial Processes Need an Overhaul
Fast, effective invoice processing of accounts payable documents keeps a company’s operations nimble and its accounts up to date. Despite the heavy use of software in accounting departments, many users continue to require multiple solutions that demand lots of manual data entry. Whenever a knowledge worker has to key in data from an invoice or move information from place to place, there’s an opportunity for error.
Even putting aside the risks that errors create, such as the potential for overpaying or not paying a vendor, there are other problems. Manually intensive invoice processing is slow and expensive. Reducing the spend on accounting can only be good for your bottom line when you do it with intelligent automation. Faster invoice cycles equal happier vendors and better cash flow visibility.
Using AP Essentials as a base to build from, you can leverage powerful solutions for enterprise resource planning, such as Sage X3, to position your business for a transformation.
What is Sage X3?
Sage X3 is a robust ERP tool designed to streamline critical tasks such as managing production, overseeing the supply chain, and better controlling financials. This last capability is where a connection to AP Essentials can be a potent resource. Built to leverage high-level automation capabilities, Sage X3 can help you vastly improve critical processes. To facilitate the improvement of your accounts payable work, turn to the Kofax Marketplace for a pre-made connector ready to help you leverage cloud-based intelligent automation for invoice processing.
Connecting AP Essentials to Sage X3 With X3CloudDocs
AP Essentials, formerly ReadSoft Online, provides highly versatile abilities for capturing invoices regardless of origin, including email, scanned images, faxes, and other sources. With highly accurate OCR and validation workflows designed with ease of use, this software allows teams to slash time spent manually entering data while increasing confidence across the department.
With X3CloudDocs designed by the professionals at Mysoft, you can bring the exciting capacities of AP Essentials directly into your current Sage X3 ERP deployment. With the potential to start using this connector with as few as three days of setup time, you can accelerate your journey towards a smarter, more automated AP department.
What Can You Do With X3CloudDocs?
With the X3CloudDocs connector, you can streamline and fully automate some of the most tedious tasks in the accounts payable workflow. Equipping your Sage X3 deployment with a powerful OCR solution simplifies the initial capture of invoice data and requires far fewer—if any—human touches. By integrating into your ERP, you can fully automate matching received invoices to existing purchase order entries in your Sage X3 setup.
You can also bring automation to invoice approvals. This area proves to be the most costly: double payments, for example, can be expensive and time-consuming to correct. Missed payments that develop a “late” status because approval didn’t happen in time also harm the business. With X3CloudDocs, you can customize approval workflows to eliminate these errors.
When invoices match specified criteria, you can automatically approve and send them for payment. When they don’t, you can generate emails to the appropriate parties and engage with the traditional approval process. From invoice capture to final approval, X3CloudDocs helps ensure the creation of a highly detailed audit log you can always access from anywhere via the Sage X3 cloud.
What Benefits Can You Recognize?
The most apparent benefits are fewer errors, your business saves money, extends vital functionalities, and satisfies vendor obligations. With this connector, Mysoft says that users can achieve an almost 90% reduction in the work spent on manual data entry. Faster processing also opens the door to obtaining early vendor payment discounts. With this connector, you don’t need to spend months building a solution from scratch. Instead, you can generate savings immediately and create a concise timeline for a positive ROI.
With X3CloudDocs, you can generate savings year after year by eliminating errors, reducing your reliance on paper, and embracing the power of automation and the cloud. With consulting and setup insights from developer Mysoft, inquiring about pricing and getting started is simple. Start discovering how process transformations can reshape how you do business today.
Getting Started in the Kofax Marketplace
The potential for transforming key accounting processes with suitable connectors for ReadSoft Online (now AP Essentials) is immense. You can reduce errors, improve processing times, and dramatically increase visibility into critical data across the organization. The result is a faster-automated workflow, more resilient and capable of helping you respond to real-world business conditions and challenges.