IPS data capture solution helps property managers maximize their MDS investment.
SECAUCUS, NJ, March 4, 2021 – IPS, a leading provider of accounts payable automation solutions, announced today that it has integrated its data capture solution with MDS RapidPay to enable property managers to automate the processing of supplier invoices end-to-end.
With the IPS data capture solution, MDS RapidPay users can stop keying invoice data, nearly eliminate data entry errors, speed invoice matching, and accelerate the invoice-to-pay cycle.
IPS makes it easy for MDS users to receive and post any electronic invoices, including those sent via e-mail or uploaded through a self-service portal. The IPS solution aggregates all electronic invoices onto a single platform, extracts line-item details and other invoice data with nearly flawless accuracy, matches invoices to purchase orders (POs) and more. IPS also provides no-touch processing of invoices sent through the mail. IPS manages a dedicated Post Office box for each MDS client, and handles all mail opening, document scanning and data extraction.
IPS digitally uploads invoice data directly into MDS RapidPay for workflow approval.
The IPS invoice data capture solution is ideal for property managers handling a wide range of property types, from cooperative communities to multifamily apartment buildings.
“Property managers in New York have better things to do than waste lots of time keying invoice data, chasing down information and shuffling paper,” said IPS Founder and CEO Greg Bartels. “The combination of the IPS data capture solution and MDS RapidPay eliminates manual tasks, speeds invoice approvals, and frees property management staff to focus more time on higher-value tasks.”
"Our customers have been impressed by IPS," said MDS Vice President Adam G. Friedberg. "IPS has helped MDS customers eliminate manual data entry while remaining in complete control of what gets paid when. The operational efficiencies achieved by integrating the IPS solution with RapidPay are tremendous."
Read more about automated invoice processing for MDS RapidPay users.
IPS provides a complete SaaS-based accounts payable automation solution. Built from the ground up to support accounts payable staff no matter where they work, IPS AP automation software digitizes and accelerates the receipt, processing and posting of any paper and electronic invoice. The software aggregates supplier invoices sent via the mail, an online portal, e-mail box, FTP site or EDI, extracts and validates line-item details and other information from invoices, matches invoices against POs and proof-of-delivery documents, digitally routes any unmatched invoices or invoices the require approval to the appropriate person and uploads data on approved invoices to any ERP or accounting system touch-free. Graphical dashboards keep processes moving and built-in controls ensure security and compliance. These capabilities are backed by guaranteed 99.95 percent data accuracy and 24-hour turnaround.