Accounts Payable
Automation

CDIT's Unique Accounts Payable Automation solutions help streamline your AP process, reduce errors, and costs, improve vendor relationships, and gain visibility into your finances.
Traditional manual processes for bill processing can be time-consuming and prone to errors, leading to inefficient utilization of resources.
  • AP Automation streamlines the entire AP process, from invoice capture and data extraction to validation and payment processing. This reduces manual processes and errors, saving time and reducing costs.
  • AP Automation helps to streamline the AP process by automating tasks that were previously done manually, such as invoice matching and approval workflows. This allows AP teams to focus on higher-value tasks.
  • By automating the AP process, AP Automation helps to reduce operational costs associated with manual processes and errors, such as late payment fees, incorrect payments, and invoice processing costs.
  • By automating the AP process, AP Automation helps to reduce operational costs associated with manual processes and errors, such as late payment fees, incorrect payments, and invoice processing costs.
Traditional manual processes are prone to human error, leading to inaccuracies in the data captured.
  • AP Automation validates the data and ensures that the information captured is accurate.
  • By automating the data capture and validation process, AP Automation eliminates manual data entry errors and reduces the likelihood of duplicates or incorrect payments.
  • AP Automation provides clear insights into the overall processing costs, helping users understand their bottlenecks and identify areas for cost reduction.
  • With AP Automation, users can access real-time data and insights into the AP process, enabling better decision-making and improved cash flow management.
Traditional manual processes do not provide the depth and detail of reporting and analytics that an AP Automation solution can provide.
  • AP Automation provides users with insightful reports and analytics, allowing them to make informed decisions about their processing time, Invoice statistics, etc.
AP Automation allows vendors to submit invoices electronically and track their status, reducing communication gaps and improving vendor relationships.
Integrating multiple systems and processes can be challenging.
  • An AP Automation solution can integrate with other enterprise systems, such as ERP systems, to ensure that the data captured is ubiquitous across different systems.

Accounts Payable Automation

Invoice Automation in the Cloud

CDIT's world class Accounts Payable Automation (APA) solution automates the capture and validation of invoices from any source, in any format. Supplier invoices typically arrive in paper, PDF or myriad electronic formats delivered through postal services, emails, EDI or Internet portals. It doesn’t matter. APA enables AP teams to swiftly capture, codify and route invoices seamlessly, securely and consistently.

APA uses proprietary optical character recognition (OCR) technology with impressive accuracy. The extracted data is then validated, classified, and routed for approval, enabling organizations to automate the invoice processing workflow.

It integrates with existing financial systems to provide a seamless end-to-end process, reducing manual data entry and increasing efficiency. APA can help organizations streamline their AP process, improve accuracy and efficiency, reduce costs, and enhance visibility into the financial operations of the business.

Some benefits of using AP Automation include:
  • Streamlined AP Process: AP Automation can streamline the entire AP process, from invoice capture and data extraction to validation and payment processing. This reduces manual processes and errors, saving time and reducing costs.
  • Increased data accuracy Invoice and purchase order data is extracted using market-leading cognitive capture technology, resulting in more accurate financial data and reduced risk of errors.
  • Robust analytics Pre-built dashboards provide insight into invoice status and exceptions, and “zero-touch” processing and supply continuous feedback to further optimize the invoice process.
  • Improved supplier relationships Faster, rules-driven invoice processing reduces late-payment penalties while securing early payment discounts and improving supplier relationships.
  • Reduced IT requirements Set-up requires no hardware or software investment or time-consuming maintenance, upgrades or updates.
  • Intelligent Line Item Extraction Machine learning optimizes line item extraction that improves with each invoice processed. The result is highly efficient 2-way (invoice to purchase order) and 3-way (invoice to purchase order and goods delivered) line item matching.
  • Approval Workflows and GL Coding Configurable rules-driven approval and exception workflows make for quicker processes. User-assisted GL coding and image storage provides additional capabilities for end-to-end invoice automation.
  • Multi-Language and Currency Support Supports a wide range of invoice origin and user interface languages based on over 25 years of global invoice processing experience.
  • Support for Electronic Invoices Increase invoice processing extraction rates in XML or PDF files and reduce manual verification and correction.
  • Excel Import for Master and PO Data Use Microsoft Excel to easily import supplier master data and PO data for validation and verification.
  • AR Purchase Order Processing Customer purchase orders are captured, validated and exported to the ERP, enabling an efficient, accurate start to the order process.

AP Automation Challenge

If you're ready to transform your Accounts Payable process to a best-in-class, cost-effective solution, we invite you to get in touch with us to see Accounts Payable Automation in action.

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