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Accounts Payable Automation

iPayables’ accounts payable automation solution makes electronic invoicing easier than ever before by combining quality technical solutions and quality service.

AP Automation

Accounts Payable Automation

Imagine a world without paper invoices. Suppliers key in and upload invoices via the internet. The invoices are automatically matched and routed to the appropriate users for approval. There is no data entry. No supplier phone calls. Invoice processing costs are reduced drastically, resulting in triple digit ROI within six months. That world is not only possible—it exists, with iPayables’ accounts payable automation. iPayables’ AP automation solution allows accounts payable departments to reach more suppliers and receive more invoices electronically than any other accounts payable automation solution.

What is AP Automation?

Put simply, AP Automation is the process of using technology to make your payables processes streamlined and paperless. AP automation eliminates inefficient and repetitive paper processes, while saving time and unnecessary hassle for your AP department. This is possible through intuitive software processes that expedite your workflow. Plus, iPayables’ accounts payable automation solution utilizes recent artificial intelligence advancements to further simplify the process. Accounts payable automation makes your job easier, while increasing your control. This also results in higher visibility and smoother communications between customers and suppliers.

Electronic Invoicing

Electronic invoicing (also known as e-invoicing) is free and simple for your suppliers. It is the perfect solution to eliminate paper and to automate payables processing. Your technology group will be relieved to know that supplier onboarding is simple. iPayables takes care of enlisting and supporting your suppliers for you, so that your technology group doesn’t have to. Often, a technical solution for electronic invoicing involving consultants can seem too costly to implement. With e-invoicing through AP automation, however, the process becomes simplified—without the cost.

AP Automation Benefits

iPayables’ accounts payable automation solution makes electronic invoicing easier than ever before, by automating even the most complex invoice processes with high-quality technical solutions and quality service. Our accounts payable automation solutions—comprised of patented automation tools—eliminate paper, from purchasing to reconciliation. In addition to making your job easier, you’re also lessening your economic footprint. benefits to AP Automation include:

  • Improved productivity
  • Reduced AP-related costs
  • Prevented errors
  • Dynamic (early-pay) discounting
  • Improved supplier relations

AP automation software ensures that the approval and workflow process is streamlined and electronic. Utilizing a top of the line, internally developed combination of Artificial Intelligence (AI) and Optical Character Recognition (OCR), iPayables makes your AP process faster, more efficient, and more convenient. High-level accounts payable automation also eliminates lost invoices, errors, and unauthorized access. This means that, through AP automation, you save time that would otherwise be spent locating invoices, correcting errors, and tracking potential threats. Plus, with the use of a supplier portal, you save time and costs often associated with sending invoices back and forth when corrections are necessary.

How it Works

On the surface, making the switch to an automated accounts payable department can seem daunting. However, through our state-of-the-art intuitive AP automation software, we provide a fast result—all while saving you time, money, and resources. Although not all accounts payable automation solutions are so straight-forward and user friendly, we at iPayables strive to improve the experiences of your AP department.

No matter how suppliers choose to send their invoices, your department will only ever see them through the online portal for approval. With our issue resolution features, you can flag an invoice if you notice an issue. If you want to ask the supplier a question, you can start the conversation from the portal on the invoice in question. This initiates communication between the you and the supplier. There are two types of issues that can be raised: A dispute, which stops processing of the e-invoice until resolved, and an issue that gives a notification to the individual that there is something that requires their attention, while leaving the invoice itself undisputed.

Every single issue and part of the conversation is permanently recorded in the invoice history, that you or the supplier can review at any time.

Supplier Portal

By including a free supplier portal as a key component of your accounts payable automation process, you set your department up for greater success, both in the short-run and the long-run. Not only does a supplier portal make the invoicing process easier from start to finish, it also allows for simpler communication between suppliers and purchasing. This takes your accounts payable out of the tedious role of the middleman. In addition, you and suppliers are able to view the invoice at any point in the process—from the time it was created, to after it has been resolved and archived into our system. With AP automation, you will also be able to take advantage of dynamic discounting (or early pay discounts) through the supplier portal. With these, and even more unique features, your department will have ease of access and better relationships with suppliers. AP automation will allow your business to grow and progress in an upward direction—automating your payables processes while still leaving you in control.

Purchase Order Matching

One important feature of enterprise-level AP automation is Purchase Order (or “PO”) matching. With PO matching, a purchase order is flipped into an invoice (PO Flip) and the advanced two and three-way match functionality validates the invoice. Electronic purchase order delivery and two/three-way match dramatically reduce the paper and the effort required for these time-consuming tasks. Invoice to PO matching (two-way match) occurs in real time and receiving-to-purchase order matching (three-way match) occurs nightly. Most purchase order invoices are ready to pay the day after the invoice is submitted. PO matching with AP automation leads to incredible opportunities in discount capture.

Invoice Processing

While there are many AP automation solutions, not all can guarantee easier invoice processing. That leaves the question: Why level-up my current system if the next level seems just as complicated? This is why it’s so important to find the solution that is the right size for your department and company. iPayables’ goal is to make both the invoice processing and invoice payment processing systems easy to access and use for complex, enterprise-level departments and companies.

iPayables also offers support as you transition to online automated invoice payment processing. After the transition has been made, you will start to notice major differences in your department. With enterprise-level AP automation, you will be amazed at how much time will be spent more efficiently, how costs will go down, and the marvel of having greater control and visibility over the invoicing process.

FAQs

Why Switch to E-Invoicing?

For among other things, better accounts payable efficiency and easier cash flow management. There are numerous other reasons to switch to electronic invoicing with iPayables, contact one of our implementation specialists and find out more.
What does it cost?
By switching to electronic invoicing with iPayables, invoicing costs are greatly reduced to around only $1- 3 per invoice. For an exact price quote based on your organizational needs, please contact us today.
Would you be willing to provide us with a cost analysis?
Yes. Please fill out our request form for more information and we will respond to your request promptly.
How much will I save by switching to iPayables?
Probably a bunch! A recent study suggested that most organizations pay anywhere from $3 – 13 per invoice for traditional paper invoicing. With electronic invoicing with iPayables, your invoicing cost can be reduced to $1- 3 per invoice. With the larger organizations processing tens of thousand of invoices per month, the potential savings per year can sometime be hundreds of thousands of dollars!
What does it cost my suppliers?
Nothing! Unlike our competitors, iPayables offers free vendor, or supplier, adoption. In fact, we will work with your suppliers to ensure a seamless transition to paperless invoicing with iPayables. With iPayables you also have the opportunity to offer you suppliers dynamic discounts for early payment.
Can I receive invoices through iPayables from all of my suppliers?
For a supplier to participate, submit a request to your company’s iPayables administrator. Or, send the request to us and we will forward it on,[email protected]. Be sure to include your name, phone number and the vendor/supplier company name, contact and phone number, and vendor number (if known).
Do I need to install anything on my computer?
You should not need to install anything on your computer. If you are having technical difficulties using iPayables, contact your technical support group or call us at the number at the top of the screen.
Can suppliers see the changes I make to their invoices?
Suppliers can only see changes that affect their payment. If you change the price or quantity, or deny the invoice, they are going to be notified and can see those changes online.
Can suppliers tell if their invoice is on my work list?
Suppliers can’t see your name specifically, but they can see that the invoice is awaiting approval. However, your company’s iPayables administrator can see your name specifically and can accrue unapproved expenses to your department.