Sounds complicated, and to be frank, it is. That's why you should only trust a Redmap consultant with your business process reengineering project. Your Accounts Payable department provides many opportunities to rid your business of unnecessary costs.
smartPayables from Redmap will provide a framework for Accounts Payable automation and deliver to you the cost benefit.
So how does it work?
Your business process reengineering project starts with automating the capture and extraction of data for the vendor invoices. Equipped with this data, which is both machine read and then human verified, smartPayables will perform a number of matches via integration into the leading ERP systems on the market today.
This matching process checks to see if the invoice has a corresponding Purchase Order and indeed if the invoice tendered matches this record. Where it matches, the data is coded directly to the ERP system with all GL and vendor records updated.
Where there is no PO or the invoice does not match the PO the invoice is forwarded to the smartPayables workflow tool for approval. The appropriate manager receives a notification that there are invoices to approve and selecting it will send them to the workflow tool as illustrated below.
Reengineering business processes with Accounts Payable Automation will deliver a number of cost benefits to your business:
More importantly smartPayables will deliver immediate visibility of all outstanding payables by decreasing the amount of time it takes to process your vendor invoices. Accounts Payable Automation provides you the tools you need to run your Accounts Payable department efficiently.
Contact Redmap to get started on your business process reengineering project today.