The 5 Key Benefits of Accounts Payable Automation

Simplified: The Official Blog of MCCi

Introduction

MCCi / Jan 03, 2020

Are you stuck somewhere in between lengthy, paper-driven processes for accounts payable and trying to determine the best digital solution in a sea of options?

Automating your accounts payable process with ABBYY FlexiCapture and Laserfiche will allow you to leverage artificial intelligence and stay accountable to your vendors.

Organizations that have implemented some type of AP automation have seen it reduce their costs and the time it takes to process invoices and, in many cases, it also resulted in early discount payments and overall departmental efficiency.

5 Benefits of Accounts Payable Automation:

1. Capture Invoice Data with Artificial Intelligence (AI) 

Assists with inbound invoices. Saves your accounting staff from having to manually code in each document and instead automates those into an ERP system or approval routing 

2. Automate the Approval Process 

Instead of hand-routing papers from desk to desk, you can automate that electronically. Staff members will receive notifications via email, log-in and quickly approve those invoices.  

3. Integrate with ERP 

AP automation will not replace your ERP but complement it. Allowing you to better streamline your process and increase efficiency. 

4. Stop Manual General Ledger Coding 

Erases the manual step of having to code with GL Code. 

5. Advance the Security for Records and Compliance 

In the paper format, there is limited security and it can be harder to meet compliance. Our system meets DoD 5015.2, which is the recognized federal requirement for records management. Eliminate duplicate copies in your centralized repository. As well as having secure authentication, allowing you to know who is logged into the system and reporting on that.   

Watch the video below

An introduction to the additional processes that can benefit from AP automation.

Laserfiche has the power to streamline many processes, allowing finance departments to benefit from the automation of travel expenses, vendor registration and information collection, contract routing and approval as well as contract management. 

 

Would you like to know more how ABBYY FlexiCapture and Laserfiche can improve your workflows? Contact us today. 
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