Straight-Through Processing for Accounts Payable

    Never print, key or handle e-mail invoices again!

    AP automation eliminates the need for human operator intervention.

     

    IPS accounts payable automation software makes it easy to post supplier invoices received via e-mail, file transfer protocol (FTP) upload or an online portal, without the need for human operator intervention.

    Streamlining the posting of invoices received electronically with our AP automation solution delivers tremendous benefits:

    • Significantly reduce operational costs
    • Eliminate the chance of keying errors
    • Accelerate invoice approval cycles, even when staff Work from Home
    • Bring down data silos and achieve transparency
    • Free staff to focus on value-added activities

     

    IPS AP AP automation solution leverages advanced invoice processing technologies such as digital mailroom, intelligent data capture, robotic process automation (RPA), machine learning, dynamic workflows, seamless integration with any ERP, and analytics and business intelligence to achieve its high level of straight-through processing. 

    Accounts payable robots (or “bots”) log into an e-mail box, FTP site or online supplier portal to retrieve invoices for processing.  Suppliers also can use an online portal built into the IPS AP automation solution to submit invoices electronically or to “flip” purchase orders (POs) into electronic invoices.  The result is that all invoice processes are centralized onto a single accounts payable platform.

    And IPS guarantees 99.95 percent accuracy rate on the invoice data it extracts.

     

    Our invoice processing software can do this because of the advanced technologies we use for data extraction and verification:

    • Optical character recognition (OCR)
    • E-mail invoice extraction
    • Machine learning
    • Proprietary technology

     

    The IPS AP automation solution also matches invoice data against a PO.  Matched invoices are seamlessly uploaded to any ERP application, including SAP, Oracle, PeopleSoft, Sage, NetSuite and Infor. 

    Unmatched invoices, or those without a PO, are digitally routed for approval based on configurable business rules.  If any data required for approval is missing from an invoice (such as a PO number), the IPS AP automation solution sends an e-mail to the supplier’s billing department.  The supplier then clicks a link, inputs the required information and re-submits the invoice.  The data input by the supplier is validated in real-time, eliminating the possibility of back-and-forth e-mails.  

    The IPS AP automation software securely archives the image of each invoice and its associated data.

    All this means that your accounts payable departments won’t have to print out, key or handle invoices received via e-mail, FTP upload or a supplier portal.

    Want to see for yourself how easy AP and invoice processing can be?  Contact IPS today!