AP Essentials: Cloud-Based Vendor Invoice Management
Automatically capture, analyze, validate and approve invoices from any source with AP Essentials.
AP Essentials Release 10.4 - The Innovation ContinuesInvoice Automation in the Cloud
Kofax AP Essentials™ is a world class Accounts Payable solution that automates the capture and validation of invoices from any source, in any format. Supplier invoices typically arrive in paper, PDF or myriad electronic formats delivered through postal services, emails, EDI or Internet portals. It doesn’t matter. AP Essentials enables AP teams to swiftly capture, codify and route invoices seamlessly, securely and consistently.
AP Essentials uses proprietary optical character recognition (OCR) technology with impressive accuracy. The extracted data is then validated, classified, and routed for approval, enabling organizations to automate the invoice processing workflow. AP Essentials integrates with existing financial systems to provide a seamless end-to-end process, reducing manual data entry and increasing efficiency.
Save time with best-in-class cognitive capture
Enjoy the labor-reducing benefits of improved extraction rates. Adaptive, artificial intelligence-based capabilities improve document processing speed and extraction precision.
Streamline invoice processing with workflow automation
Native workflows ensure proper routing of invoices, enforced approval policies and greater transparency into how processes are executed.
Automate invoice processing with broad ERP integration
AP Essentials configures to accommodate unique vendor requirements. The suite integrates with ERP and pay-to-procure market leaders like Microsoft D365 Business Central, Microsoft D365 Finance and Operations, Oracle Financial Cloud, Oracle NetSuite and Coupa Spend Management.
Experience low TCO and fast ROI
Leverage existing systems and reduce overhead on hardware that depreciates over time. Achieve ROI quickly and painlessly with simple implementation, comprehensive 24/7 cloud-based support and constant performance monitoring.
How AP Essentials Can Help
Increased data accuracy
Invoice and purchase order data is extracted using market-leading cognitive capture technology, resulting in more accurate financial data and reduced risk of errors.
Robust analytics
Pre-built dashboards provide insight into invoice status and exceptions, and “zero-touch” processing and supply continuous feedback to further optimize the invoice process.
Improved supplier relationships
Faster, rules-driven invoice processing reduces late-payment penalties while securing early payment discounts and improving supplier relationships.
Reduced IT requirements
Set-up requires no hardware or software investment or time-consuming maintenance, upgrades or updates.
Intelligent Line Item Extraction
Machine learning optimizes line item extraction that improves with each invoice processed. The result is highly efficient 2-way (invoice to purchase order) and 3-way (invoice to purchase order and goods delivered) line item matching.
Approval Workflows and GL Coding
Configurable rules-driven approval and exception workflows make for quicker processes. User-assisted GL coding and image storage provides additional capabilities for end-to-end invoice automation.
Multi-Language and Currency Support
Supports a wide range of invoice origin and user interface languages based on over 25 years of global invoice processing experience.
Support for Electronic Invoices
Increase invoice processing extraction rates in XML or PDF files and reduce manual verification and correction.
Excel Import for Master and PO Data
Use Microsoft Excel to easily import supplier master data and PO data for validation and verification.
AR Purchase Order Processing
Customer purchase orders are captured, validated and exported to the ERP, enabling an efficient, accurate start to the order process.
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