Accounts Payable Invoice Processing
CAYLX offers a service for automating AP Invoice Processing. The primary objectives are to reduce costs and increase productivity in Finance and across the business by reducing manual data entry, improving accuracy, reducing paper trails and generally speeding up the process.
The service is made up of two discreet functions that can be deployed together or individually, as necessary.
A capture tool performs extraction of the data from the invoice with checking and matching exchanges, then the export of the data to your finance system and the image to your document repository. For many of our clients, their approvals process is handled within their finance/AP system.
For others, their finance system lacks a suitable approval process so, the process tool imports the invoice data into an electronic form that is routed round a flexible approvals process with digital sign-offs, email escalations, etc. The process tool can then lodge the appropriate transactional records into the finance/AP system.
The solution is normally tailored to the existing manual process and is integrated into your existing technology systems. At a later stage, our consultants can work with you to improve the processes. Our consultants will make a study of the existing process and design an enhanced automated solution.
Our consultants are used to working with accounting and IT staff to quickly sort data connections with finance/AP systems and document repositories. These two products, Capture and Process, are utility tools and are widely used for many business purposes. Here, we offer a description with specific focus on this AP process.
A simple manual AP process might look something like this:
The same process automated removes many of the manual steps, leaving something like this
