Accounts Payable Automationthe Smart Process Application for Accounts Payable and Beyond
transcendAP is a smart process application that streamlines the process of capturing and approving accounts payable invoices to increase efficiency your AP department and reduce your costs. transcendAP has been proven to significantly reduce invoice processing costs (up to 80%) and reduce outstanding payment cycle time versus those companies who continue to rely on manual tasks to manage their procure-to-pay lifecycle. By eliminating the busy work associated with AP processing, like manual data entry and physically routing invoices around for approval, we allow your AP staff to become a more strategic asset to your organization. Automate your accounts payable process with transcendAP, a secure and respected smart process application for Kofax TotalAgility.
- Making payments on duplicate invoices
- Excessive manual data entry time and errors
- Lack of visibility across procure-to-pay process
- Inability to accurately forecast liabilities
- Slow routing of invoices for approval
- Lack of integration and auto posting to your ERP or Accounting System
- Difficulty tracking errors and exceptions
- Constant interruptions to answer questions on invoice status
- Overburdened AP staff struggling to handle an increased invoice volume due to mergers and acquisitions
If your company is experiencing any the above challenges, please contact us to receive a detailed review of your current process and help to create an effective and streamlined solution!
The transcend AP process
Invoices are automatically captured from paper, email, fax, or the web. Invoices are able to be reviewed for completeness and accuracy.
Data is automatically extracted from each invoice regardless of format eliminating manual key entry. Each Supplier is validated from the Vendor Master list in the ERP, and duplicate invoices are easily identified.
Through real-time integration with your ERP’s Chart of Accounts, invoices are quickly and accurately coded to your General Ledger.
Individual invoice line items are automatically matched against line items in your purchase orders and receipts. Exceptions are handled with easy collaboration with suppliers.
Invoices are routed electronically based on your specific requirements and business rules. Approvals can be made via a mobile device and are easily tracked.
Real-time integration with your ERP allows transaction batches to be posted on your schedule for prompt payment processing. Bi-directional communication with your ERP gives you full visibility and audit trail for compliance.
The power of Business Process Management provides dashboards and reporting to give you valuable insight into your business and process helping you identify bottlenecks and continually improve your efficiency.
Users can search for invoices based on multiple criteria both in-flight and posted to the ERP. In addition to the invoice image, users can see the entire processing history including GL coding, approvals, and processor comments.