How Can Intelligent Automation Help Streamline your Accounts Payable Processes?

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What if you could reduce the amount of time and money your organization spends on manual accounts payable (AP) processes? No matter the size of the organization, every company has bills to pay, but manually processing invoices is time-consuming, unsecured, and subject to errors. In fact, the Institute for Finance & Management (IOFM) reports that it costs on average $11.76 to process a single invoice and that the average organization receives over 1,200 invoices per month!

What if you could digitize invoices while eliminating manual data entry? What if this solution saved you time and money? What if this solution was available in just one system? Electronic Content Management (ECM) allows your organization to reduce operating expenses, securely comply with regulations, eliminate manual data entry, and integrate with your existing accounting system or other line-of-business applications — either in the cloud or on-premise. Our patented award-winning artificial intelligence engine can bring intelligent automation to any finance department and improve productivity across the entire enterprise.

After automating AP processes, organizations save over 70% on invoice handling costs alone, with a payback period of fewer than 12 months. Get started with ECM today to digitize, manage, store, and route all your financial records to improve productivity and save money.

EFFICIENCY

  • Eliminate time-wasting manual data entry by leveraging our patented artificial intelligence (AI) engine classify documents automatically and extract key data.
  • Easy setup gets you up and running in just hours or days, not weeks or months.
  • Intelligently cross-reference information effortlessly between accounting systems and other line-of-business (LOB) applications, streamlining three-way matching.

CONTROL

  • Protect information by applying access restrictions such as passwords, user controls, multiple layers of security, and encryption.
  • Securely manage customer data to ensure compliance with federal regulations such as the Gramm-Leach Bliley Act (GLBA), Sarbanes-Oxley Act (SOX), and the Dodd-Frank Act.
  • Setup automatic retention periods to ensure invoices are not deleted early or held too long.

MONEY

  • Reduce your cost per invoice by managing files electronically.
  • Speed up invoice approvals to earn more early discounts.
  • Reduce audit fees by simplifying record management and retrieval.

How Does Your Accounts Payable Department Compare?

Take a short quiz to find out if you could reduce cost and increase efficiency in your AP department here.

Written by

President and CEO of Digitech Systems, the first cloud-based ECM system offering access to any document, anywhere, anytime, and for businesses of any size.

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