Automating Accounts Payable

Why should you consider automating your Accounts Payable Department ?

Paper-based, manual invoice processing can cost companies anywhere from $5.00 to $20.00 per invoice or more.  Automating the Accounts Payable department has been shown to reduce invoice processing costs significantly.

Improving your accounts payable system is more than tracking broad KPIs.  By implementing APA+ Automation you are better able to reach your goals and improve your workflow whilst at the same time not demanding a major infrastructure overhaul to achieve great results!

 

Acacia is pleased to announce that we have partnered with Dataline – the Payables Experts – to offer an already integrated solution.

Dataline’s integration-ready APA+ Automation Software is developed for MYOB Advanced and MYOB Exo and delivers the solutions for accounts payable departments’ most pressing concerns, such as:

  • Automated data extraction: Our AP Automation Software handles paper and emailed invoices, reducing manual data entry and exception management.
  • Integrated Workflows: Alerts only relevant team members to perform validations, then automatically passes invoices for approval.  Allows users to approve remotely.
  • Two- and three-way matching: Significant savings in processing by matching to Purchase Order or Goods Receipts information automatically.  Provides the ability process more documents with fewer resources, thus improving KPI’s.
  • Easy access to information: documents can be access via our online portal at any time.  In addition images are also loaded into MYOB Advanced for even more timely access.
  • Removal of paper: Keeps electronic documents in digital format.  No more printing.
  • Removal of potential duplicate payments: captures duplicates as exceptions automatically.
  • Transparency of Liabilities: daily reporting on outstanding liabilities plus on screen, real-time tracking of outstanding items.

 

MYOB with APA+ automation software enables automatic data entry and tracks invoices at every stage of the workflow.

  • Automatically code vendor invoices: This includes item line coding gleaned from purchasing data for purchase order (PO) invoices and general ledger (GL) coding entered and managed by Accounts Payable for expense invoices.  Ongoing invoices ‘learn’ the coding and pre-fill where required, thus reducing AP time even further by automating accounts payable processes.
  • Initiate workflows: APA+ Automation notifies users at each workflow stage to perform a review or validation. Notification examples include purchase price variance, quantity variance and expense invoice approval.
  • Automatically input correct invoice information: APA+ automation software collects all the transactional data and identifies errors, then alerts the team to correct the information.  Approved data then flows into MYOB, reducing — and in some cases eliminating — the more error-prone, end-to-end manual entry process.
  • Simplify invoice audits and approvals: Invoice images and transaction history are kept in one cloud-based solution. Additionally, images are passed back to MYOB Advanced for ease of access by MYOB users.
  • Integrated Credit Card and Expense solution: APA+ now supports Webexpenses which provides a corporate card reconciliation solution and mobile receipt capture, providing a single interface to MYOB Advanced.  A solution for MYOB Exo is planned for later this year.
    Automating Accounts Payable

    Automating Accounts Payable

  • Working Capital Solution: APA+ supports an automated interface to select finance providers, giving Financial Controllers the option to obtain supplier discounts or optional extended payment terms.

In total, top-performing Accounts Payable teams using MYOB Advanced and MYOB Exo see reduced processing time with the potential to have 100 percent of approved invoices able to be paid on time, compared to 65 percent for non-automated Accounts Payable Teams.

If you would like a demo of the potential ways you could automate your AP systems and processes, then please :

Contact Us    or   call Duncan Howard on ph  +61 3 8560 5220

 

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