April 11th, 2022 by admin
Most businesses have trouble finding an effective way to process invoices. If there's a problem with your process, your vendors might not get paid on time, resulting in a lot of frustration for everyone involved. Accounts payable (AP) plays a critical role in addressing this challenge, but it can often lead to high costs, errors, delays, and more if done manually.
Your company needs a smart accounting solution that can efficiently and accurately process invoices in a way that turns your AP department from a “cost center” to one that helps you generate revenue. Americom Imaging Systems has that solution.
Improve Your AP With Automated Accounting Software
Many problems with AP can be eliminated by automating your processes. When you partner with Americom, you can do exactly that with our automated accounts payable software that reduces errors, labor, and time. It's designed to streamline standardized AP workflows.
How Does Accounts Payable Automation Software Work?
Our automated accounting software simplifies the entire AP process of receiving, reconciling, approving, coding, posting, and paying invoices. This is done by virtualizing your invoices and pushing them through a digital workflow. The process starts by extracting information from your invoices. It then:
- Matches invoices to POs and reconciles information
- Attaches proper general ledger (GL) codes
- Looks up payment terms and discounts
- Routes invoices to approvers or back to vendors if errors are detected
- Processes and issues payment using secure virtual credit card numbers
What Does Automated AP Solve?
Americom helps you avoid the following problems through our software. It can take care of every step in the process, including sending errors back to the vendor.
- High Costs: AP processing can get expensive. The national average cost of manually processing invoices is $9.60 per invoice. That can quickly stack up the more invoices you process.
- Payment Delays: Processing is known to be a time-consuming task that can lead to delayed payments.
- Manual Labor: Manual processing requires data entry from employees. This can lead to errors and other problems.
- Payment Methods: A mismatch in payment methods can result in frustration between you and your vendor.
- Transaction Visibility: Traditional AP lacks visibility when it comes to the transaction. This typically causes extra costs, delays, chargebacks, and payment cycle disruption.
Process Invoices Faster Than Ever Before
With the help of AP invoice automation, you increase the accuracy of your invoice payments while reducing the tedious manual data entry that's often associated with AP. Our automated accounting software also offers:
- Invoice Document Management: Digitally capture invoice information
- Invoice Processing: Automate retrieval of line items, matching to POs, verification of pricing, reconciliation against requisitions, and more.
- Forecast Cash Flow: Manage where and how much money is being sent to vendors
- Automated GL Coding: Create GL codes instantly to categorize revenue data
- SLA Extraction: Extract data accurately at 99% service level
The Benefits of Automated Accounting Software
When your company partners with Americom, you can reduce the costs of your invoice processing all the way down to $2. Additionally, our automated accounting software helps you generate revenue with virtual card payments and rebates for your business. Other benefits include:
- Reduced AP costs by up to 90%
- Transparency into invoice status and bottlenecks
- Increased processing speed by 10-fold
- Ability to allow for remote workers
- Fast retrieval of invoices for research and vendor responses
- Elimination of duplicate payments
- Improved security, fraud prevention, and compliance
- Improved audit controls and assurances
- Minimizes staffing hours needed for AP
- No keying errors into enterprise resource planning (ERP)
- Improved end of the month reporting
Enhance Your AP With Automation
Americom Imaging Systems is a leader in managed print and IT services. We strive to deliver the solutions your business needs to run optimally. If you're interested in enhancing your AP with our automated software, reach out to us. Our team can tell you more about how this solution can help your organization.
Contact us today!
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