Accounts Payable Automation
Is your accounts payable department heavily reliant on paper and manual processing? Cleardata offers accounts payable automation solutions to cut costs and streamline AP operations.
All invoices and related accounts payable documentation can be processed using a single solution. Data is extracted with limited human intervention, ensuring high levels of data accuracy and quick payments to your suppliers.
By automating your accounts payable processes, staff can spend less time completing manual tasks and more time concentrating on key AP activities.
Cleardata’s automated accounts payable and invoice processing services are able to:
- Instantly digitise your invoices
- Automatically recognise certain fields on invoices, e.g. VAT registration no.
- Compare and verify your invoices against current supplier information and purchase orders
- Automatically match the invoice data with the relevant purchase order
- If certain information doesn’t match, an email will be automatically sent to a manager for approval
- Make payments automatically
- Return your digitised invoices to you in any preferred format
Accounts Payable Solutions
Accounts payable automation can be achieved using a range of solutions. Our approach is different to most, we have a team of Prince2 Project Managers and IT specialists who will map out your existing process and build a solution that works for you.
- Digital Mailroom – invoices sent to Cleardata for opening and digitisation.
- Invoice Scanning – paperwork scanned using high volume OCR scanners.
- Intelligent Data Capture – key data automatically extracted using clever software, for example PO number, supplier names and amounts.
- Cloud Document Management – invoices uploaded to the cloud and sent for approval, query or dispute.
As well as accounts payable automation, Cleardata also provide e-invoicing and EDI solutions, enabling businesses to switch to 100% electronic invoicing. Watch our 60 second video below to find out more:-
Read Cleardata’s white paper on how to automate the process of your invoices. Cleardata is an accredited partner of the Accounts Payable Association.
Accounts Payable Automation from Cleardata can help your company save invoice processing costs by up to 75%, effectively providing a complete automated accounts payable solution.
Other benefits include:-
- Reduced paperwork and costs: Accounts payable documentation is diverted to our bureau by PO Box and digitised by our team on arrival. Save time on mailroom activities e.g. opening and sorting mail, categorising data, manual indexing and distribution. Reduce costs on photocopying and copier maintenance costs as well as postage to re-distribute physical paperwork.
- Improve supplier relationships: Efficient, all-round management of your invoicing and accounts payable documentation means that processes happen speedily and any invoice errors can quickly be flagged up and remedied quickly. Suppliers can easily create e-invoices, even if they don’t have an existing e-invoicing system.
- Eliminate duplicate payments: Intelligent capture and processing reduces the risk of human error and ultimately duplicated payments.
- Improve processing speed: Cleardata can process your e-invoices and physical paperwork and upload into your financial systems for processing. This improves the speed of your accounts payable team and reduces time spent on exceptions due to scanning quality issues or manual data entry errors.
- More accuracy: Cleardata’s system can automatically validate your invoices against back office systems and send invoices back to suppliers to correct invoice data.
To find out more about Cleardata’s Accounts Payable Automation solution or discuss your options, get in touch with us today — our team will be happy to advise. 0800 046 8081.