AP Automation, though not a new terminology and most of us already know about it, helps you automate or streamline your entire invoice processing workflow. This brings in a lot of benefits such as:
Brings 100% visibility so as to make it possible to track how many invoices are received, processed and still pending, and the reason for pending invoices.
Productivity improvement by routing invoice for posting to ERP, Exception Queues, FPY- First Pass Yield and complete a 3-way match. The software also allows you to detect duplicate invoices automatically.
Reduction in paperwork all the invoices are saved in scanned pdf/jpg format. Hence, this makes the retrieval and search much easier on all the stored invoices. You can search based on different search parameters such as invoice date, invoice number, etc.
Easy tracking of lost invoices & late payments. The system automatically triggers notification emails and SMS alerts to the respective stakeholders once the defined timeframe closes the due date in real time.
Intertec offers a lot of additional features that comes handy with its AP Automation solution. To read more, please visit http://www.intertecsystems.com/accounts-payable-automation/
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