If your accounts payable process is chaotic or simply overwhelming, it may be harming your bottom line. For too many manufacturing companies, lost invoices or delayed processing can cause you to miss out on early payment discounts. You may also be wasting time chasing and correcting information.
Automated accounts payable (AP) software can drastically cut down on these issues. As part of the GLOVIA G2 ERP (enterprise resource planning) solution, users can add our AP automation software at a fraction of the cost of other automation solutions.
How CrescentOne AP Automation Works
Human error is a common issue in AP that can result in lost invoices or manual entry typos. An automated tool like CrescentOne’s AP Automation module detects and extracts PDF invoice attachments emailed from suppliers’ designated invoicing email addresses.
Customers already using CrescentOne Accounts Payable can easily add the automation module. Then, you simply connect your accounts payable inbox for receiving invoices from suppliers. Vendors are able to attach one or more invoices in PDF form, and the software doesn’t read or extract from the body of emails.
The tool features an embedded OCR (optical character recognition) reader to copy information from the PDF and create an ICN in the GLOVIA G2 accounts payable application. The solution automatically uploads the PDF to your Microsoft 365 SharePoint 365 repository. It can also automate deferred distributions.
The software compares each invoice with the corresponding purchase order and checks to see that all items were received. The program automatically emails the relevant internal team member with a link to view the invoice.
Based on your settings, the invoice can be automatically processed in your next payment run or you can require payment authorization. Users can also flag an invoice for review or dispute before it is paid, and the system will notify you if an invoice still needs authorization.
Automate Accounts Payable to Save Money
Cut long-term expenses
Stop losing out on early payment discounts because of slow payment processes. And with out-of-the-box content repository integration, you can save on third-party invoice storage and retrieval. The CrescentOne solution saves copies automatically, and they can be retrieved instantly.
Ensure accurate payments
Avoid human input errors and minimize the chance of losing invoices. Losing track of physical invoices as well as information from purchase orders and receipts can cost your company in terms of time and overpayments.
Improve efficiency
A digitized paperless accounts payable system means your team won’t spend time sending paper invoices for approval then waiting for them to be returned for payment. Our integrated AP automation solution works out of the box and simplifies workflows. It works with the ERP, email, and content repository platforms you’re already using.
Other benefits of AP automation include the standard security and support features you get with CrescentOne.
If you’re still using a paper invoicing process because you’re worried that integrating an automated solution is too complex or costly, CrescentOne has simplified the process. AP automation can save time, prevent hassles, and cut costs for your organization. Contact us today.
