accounts payable

Accounts Payable

Accounts Payable solutions help companies streamline their accounts payable processing, reduce costs, and make better decisions. As organizations grow or change, it becomes increasingly difficult to manage their accounts payable process. An increasing number of transactions combined with greater process complexity, continual processing errors, and lost documents, raise the cost of doing business and prevent companies from making fast and efficient decisions. What’s more, manually circulating individual invoices for approval often results in processing delays that ultimately affect an organization’s ability to qualify for early payment discounts.

Automated invoice management streamlines and automates the accounts payable process. It allows your accounting staff to handle more invoices and process them more quickly and easily, while enabling employees to make better decisions faster. All invoices are captured, stored in a secure system, and automatically routed for data entry and approval.

Process Automation Benefits

• Lowering Processing Costs - Image-based processes typically cost 30% less than the same paper-based processes.   Electronic solutions provide network access to documents; eliminating copying, faxing, mailing, filing and storage costs.
• Increase Efficiency - Voucher paperwork is automatically matched and filed electronically for easy access, eliminating piles of paper on desks and the manual matching of paper.
• Process Automation - Electronic routing, tracking and online approval of invoices and voucher packets enable Accounts Payable departments to increase efficiency.
• Exception Processing - Automated application of business rules allow personnel to focus on exception processing.
• Prompt Pay Discounts - Automated collection and processing of both paper and digital invoices, and their supporting documents, accelerate the AP entry process allowing management adequate time to mange the prompt pay decision.
• Reporting - Gain management control with employee productivity reporting and identify potential bottlenecks quickly.
• Improve audit response capabilities - Security, protection and audit-trail proof is at the foundation of all Comsquared’s solutions.

Click here to download our Solution Overview for Accounts Payable.