SoftCo on-demand Accounts Payable
On receipt of supplier invoices, traditional paper-based processes are time-consuming and labour-intensive, making them more prone to error and delay. Bottlenecks in the system can lead to late payment penalties.
With SoftCo on-demand AP, documents are scanned upon receipt and entered into an automated workflow for approval. Invoices are dispatched to the appropriate business units where authorised personnel receive alerts that prompt them to sign off the document in a timely manner.
SoftCo on-demand AP is streamlined to dramatically reduce invoice processing times, ensuring accuracy and control while providing real-time visibility of where each invoice is in the payment cycle.
- Cut processing costs
- Reduce supplier queries
- Increase management control & visibility
- invoice capture and coding including VAT, currencies, general ledger codes
- easy, rapid invoice routing, whether approved, rejected or on hold
- total control and end-to-end transparency over payment approval
- automatic management of workloads through user work queues
- measurable reduction in the cost of invoice processing
- alerts triggered by pre-set rules around specified times/dates
- reports on invoices paid/outstanding, generated on a scheduled or on-demand basis
- integration with existing Enterprise Resource Planning software such as SAP, Oracle or Microsoft
- performs two and three-way matching of orders, proof of delivery and invoices