Accounts Payable Automation
Cleardata can help you to automate your manual, people dependent, Accounts Payable processes. Enabling capture of your paper invoices and documents and also digital sources such as mobile devices, email, scanners, fax, Multi-Functional Printers, web-services and more.
Once we have collected your invoices our smart solutions will automatically scan, extract and validate the data that you need. We then release the data straight into your finance systems. Our automation services can eliminate up to 80% of manual processing and resolve any human error.
In terms of savings, a recent independent study suggests that a manual process can take up to 41.3 days to process each invoice, costing around £16 per invoice. Compared with an automated solution which takes 3.7 days at a cost of £3 per invoice. For a company processing 300,000 invoices per annum, automation can return £3m in savings alone (Source: Aberdeen Group)
Cleardata can help you to build a solid business case to deliver:
- capture of invoices at any point of origin including paper and digital sources
- automatic extraction of data using smart validation
- same day transfer of data and images into your finance systems
- immediate return on investment
Cleardata’s outsourced document management services provide an on-demand solution to meet for your invoice processing needs. We can offer you complete peace of mind and help to balance the peaks and troughs associated with supplier management. Cleardata uses world-class capture software in the delivery of its services and the volume of licensing we consume means that we can offer the best deals available. Your company will also benefit from the learning that we’ve collected from working with thousands of clients across the UK.
Don’t know where to start with your invoice automation project, check out our quick guide below.
Speak to our automation consultants to discover how we can help to eliminate human error and automate your AP process.
Invoice Automation With Data Capture
About our scanning bureau
- A trusted scanning provider to UK businesses and public sector organisations
- Cleardata uses Kodak i5800 scanners, capturing 410 images per minute, these are ideal for invoice scanning and capture and provide exceptional quality digital scans.
- Our preparation team separate your invoices by type and prepare them for scanning.
- The bureau offers 2 x 100% quality checking for all scanned images.
- IT support, our IT team can export your images to any required format and will make sure they’re suitable for import into your existing financial or document systems.
Invoice processing costs can quickly spiral out of your control. Processing can commonly involve a lot of time from staff throughout your business, not just at the clerical level, senior managers often get involved for authorisation and budget purposes. Problems can be caused by misfiled or lost paper invoices and inaccurate data entry. Invoice bottlenecks can cause your accounts team to spend a large amount of time talking to suppliers, causing high phone costs and reduced time to spend actually processing invoices. Automating your processes through invoice scanning and intelligent software processing can help:-
Manual data entry can be a labour intensive process to complete. These costs can be vastly reduced by switching to an automated processing solution. Cut photocopying, stationery and phone costs.
Save valuable office space
Invoices no longer need to be stored physically on-site, as your business will have access to key invoice information from the comfort of your computer.
Eliminate data entry errors
One of the main weaknesses associated with manual data entry is the potential for human error. Utilising an automated process eliminates the time-wasted sorting out an innocent keystroke error.
Quicker workflow process
Ensuring your company is up to date with payments is key. An inefficient workflow process, with factors including manual data entry, can cause your company to fall behind when trying to manage outstanding invoices. By automating the extraction of key document information into a simple and centralised digital format, payments can be handled more efficiently and at a faster rate.
Index your digital Invoices by any key field. Search by invoice number, supplier name, reference etc, straight from your computer. Provide flexible access to your digital invoices from any location.
Improve processing speed and monitor your outputs
Intelligent invoice capture will speed up the time it takes to process your invoices, identify any bottlenecks in your processing journeys and provide some great reports and statistics to monitor and continually improve your business efficiency.