Labor-intensive paper-based invoices have plagued accounts payable (AP) departments for decades. AP teams struggle to meet organizational needs for visible, timely and accurate financial reporting and control. Arcplace Automated Invoice Processing solutions help your organization to eliminate paper-based invoices, achieve real-time visibility, improve control, and boost the bottom line.
With Arcplace Automated Invoice Processing solutions, you can automate the entire invoice-handling process, including paper-based Invoice data capture, incorporate review and approval workflow, and manage transfers and payments. Savings accrue because organizations no longer need to manually check, internally distribute, locate or archive paper-based invoices. By integrating the solutions with your existing systems, you can leverage even greater return on your existing investments.
Arcplace solutions streamline your organization’s invoice processing at each step of the way.
- Capture the data - Use the latest imaging and character recognition (OCR/ICR) technology to scan all critical invoice data from paper invoices to create electronic records.
- Review and approval - Invoices without POs are automatically sent for review and approval using multi-level workflows that adapt easily to meet your company policies.
- Set automatic e-mail notifications - At each step of the invoice approval process, users are notified by email, complete with a link to click on, when action is required by them. The user interface is browser-based, easy-to-use and requires no installation.
- Transfer for payment - When approved, invoices are transferred to the financial or ERP system for payment. Once an invoice has been paid, the transaction data, audit trail and invoice image can be retrieved from finance/ERP system screens through connectivity with the invoice archive.
- Archive invoice data - Invoices can be archived according to the organization’s own policies or government regulations. All invoices can furthermore be saved to reviewers’ and approvers’ personal archives.
Arcplace Automated Invoice Processing solutions:
- Are an end-to-end solution for the electronic processing and archiving of invoices
- Eliminate time-consuming repetitive invoice-handling tasks
- Decrease errors by minimizing manual data entry
- Accelerate the invoice approval process
- Integrate seamlessly with existing ERP and Accounts Payable systems
- In the case of an audit or legal dispute, archived invoices are retrieved in seconds
- Save significant space by eliminating the need to store paper copies of the documents
- Deliver fast return on investment (ROI)
- Enable rapid roll-outs through fast implementation and ease of use
