smartPayables

Accounts Payable Automation and document management solutions

Every year businesses invest billions of dollars in Finance Applications, Stock Management Systems and ERP technology yet still use slow and expensive paper based processes and manual keying to update and drive them. In areas such as accounts payable, human resources, and asset documents, this almost always this causes:

• Drawn out approval processes requiring multiple calls to management often resulting in missed discount periods and credit challenges.
• Manually mailing invoices from regional locations to HQ and vice versa at significant labour and postage costs.
• Tedious and manual keying from invoice into ERP/Accounting system.
• Countless hours spent sorting, filing and archiving paper copies.

Redmap's smartPayables solution integrates leading scanning technologies, thereby enabling accounts payable automation in your dedicated department. In 6 simple steps we will increase the throughput of an accounts clerk by 100%, cut approvals times in half, eliminate wasteful transport of paper invoices, and electronically file them for instant retrieval.

The six accounts payable automation steps are:

Capture – Vendor invoices which can be scanned, emailed or faxed are captured from any location and routed to a central processing location. No more paying to post documents from remote locations.

Sort –There is no need to manually sort or separate them as the software will do that for you. During the sorting process, invoices with existing Purchase Orders, and those that are pre-approved such as rent or utilities, will be separated from those that require some form of approval.

Verify – The data from the invoice is captured and displayed to the Accounts Payable staff. In most cases all the staff need do is confirm smartPayables has captured the data accurately from the invoice. GL Codes can be added at this point within the application or later after the data has been uploaded to the Finance system.

Approve – To approve those invoices that do not have a purchase order or that are not pre-approved, a secure link to the document is emailed to the appropriate staff member for approval. Simply click on the link and either approve the invoice or update the status and add a note. If necessary the invoice can be workflowed to multiple approvers based on specific business rules.

Post – Now that the invoices have been approved, smartPayables will automatically upload the data to your ERP or Accounting system. No manual intervention or keying of data is required.

File – Documents are automatically filed by smartPayables and referenced by all the important data including vendor name, purchase order number, invoice number, date, etc. Integration with all major ERP and Financial systems means that the invoices can be instantly retrieved directly from these systems. This means that vendor queries can be handled immediately greatly reducing the strain on the accounts team.

With smartPayables the process of approving and coding your invoices may be as simple as scanning the document!  True accounts payable automation becomes a simple reality when you use our smartPayables systems.

Click here to download the smartPayables Datasheet – Hi-Res | Lo-Res.

Redmap is a document management expert providing wide range of paperless office solutions to organisations. From document archiving which can help improve business productivity and efficiency, to streamlining that accounts payable workflow. To find out the best solution to solve your document automation challenges, contact Redmap to discuss how our document management system that can be tailored to your exact needs.