Accounts Payable Outsourcing
Processing high volumes of invoices and other financial documentation can become extremely time consuming and costly for AP departments. Cleardata provides accounts payable outsourcing, to streamline multiple tasks, including invoice scanning, matching, validation and approval.
Outsourced accounts payable enables staff to concentrate on core business tasks, generating faster processing times and quick payments to your suppliers.
Other benefits of accounts payable outsourcing includes:-
- Limited human intervention, leading to higher data accuracy levels.
- Quicker payments, resulting in improved supplier relationships.
- Reduced time spent on the phone dealing with customer queries
- Lower processing costs
Invoices arrive in various different formats, for example paper, fax, email and edi, consolidating these documents can be a challenging tasks. Cleardata’s outsourced accounts payable solution, enables all incoming invoices to be processes through a single connection, no matter how they’re received.
Download our Invoice Management white paper for information on automating your invoices.
How does the process work?
Outsourced accounts payable works by diverting invoices and other financial documentation to our secure accredited scanning facility. Electronic paperwork is received using a dedicated mailbox.
- Paper documents digitised on arrival, using OCR technology.
- Intelligent data capture utilised to capture key information, such as purchase order, reference numbers and supplier details.
- Data validation performed, to check extracted data against existing office databases.
- Automated workflow to route files to the correct members of staff or department for authorisation.
- Extracted invoice data output into a preferred format, for easy import into your systems. Regular methods include csv, excel or html.
Switch to 100% electronic invoicing, using Cleardata’s EDI solution. Click here for further information, or watch our video below:-
For further information about Cleardata’s Accounts Payable Outsourcing Solutions, contact 0800 046 8081.