Thinking of digital transformation of your business process! AP automation should be your first priority. Supplier Invoice management plays a major role in business continuity and growth.
APXPRESS helps to automate the entire invoice management process, which eliminates the cumbersome process of paperwork. It digitizes the invoice document and allows greater tracebility of invoices, exceptions, approval workflow and payment tracking.
With the smart OCR technologies and comprehensive exception management engine, APXPRESS processes most of the invoices without AP team's involvement. Thus helps improve productivity of the AP team.
It is said “Every Penny saved is Penny Earned”. With invoice tracking & event based notification, APXPRESS helps AP Team to process invoices ontime, identify and stop duplicate payments, avoid late payment fees, thereby drives better vendor relations.
APXPRESS is integrated with your ERP or Payables system on a real time basis. That allows the AP team to view status on each and every invoice that are submitted.
The invoice receiving process in APXPRESS is automated through an AI enabled bot and an Intelligent Data Recognition tool. The invoice receiving engine can process invoices submitted via email or a file upload process.
A food service manufacturer was struggling with an inefficient manual accounts payable process that was time-consuming and resulted in approval and reporting bottlenecks. The manufacturer processed invoices using cumbersome, manual data entry procedures. This paper-based workflow required review and approvals from department to department prior to an invoice getting fully approved for payment. In addition to the time lost waiting for paper copies of invoices to physically reach their destinations, human error was rampant which in turn delayed approval even further. And the intensive manual workloads required a larger AP team and significant delay in vendor payments. As a result, the food service manufacturer was saddled with late payment fees and payment discrepancies, and early discounts were practically unheard of. There was also a general lack of transparency between departments and decision-making was fragmented instead of being cohesive. Finally, the cost to process invoices was extremely high per invoice.
They decided to engage Arista to help implement APXPRESS to streamline their accounts payable process and help improve productivity.