Accounts Payable Automation
There are many benefits for using an automated Accounts Payable solution instead of handling invoices manually.
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Reduction in paperwork.
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Easy searching and viewing of stored invoices.
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Faster processing, reducing costs.
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Greater visibility to invoices that are outstanding and an overview of cash flow risk.
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Improved approval processes.
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Integration into your accounting system.
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However, implementing an automated Accounts Payable system can be an expensive exercise as buying and maintaining software is costly and configuration services are expensive. But the process can be made much simpler and inexpensive using NeoDocs. After all, all business, big and small should be able to access the tools which streamline their business and reduce costs.
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The NeoDocs Accounts Payable solution is hosted*, so we provide the software, do the setup, handle the maintenance. You access your invoices through a web browser so you can view, approve and post no matter where you are.
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Your suppliers email their invoices and NeoDocs will extract the data needed to pass a workflow directly into your process viewer or email or both. Depending on what accounting system you use we can provide integration so that posted invoices are directly processed. Otherwise, we can pass the posting data in a delimited file or push to your api.
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You can view invoices, upload additional attachments, email from the web browser, add notes, and see a history of the invoice and approvals.
Accounts Payable staff can allocate invoices to GL accounts and send invoices for approval. You can give users access to other user's workflows where they can approve or reject. Great when people are on holidays or for Managers.
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Set approval limits and send scheduled reminders on invoices that are with an approver past the designated approval time.
Templates
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Upload a sample image.
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Define blocks around data you would like to extract and set the field to update.
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Add the supplier details
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Set document identifiers.
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Add who the invoice should go to when it arrives.
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Manually upload invoices against a supplier.
The 4 key points of a NeoDocs AP Process
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Receive invoices - An Email queue monitors a designated mail box at set intervals. Emails are brought into NeoDocs and the Sender's Name, Date, Time, Subject and Body can be used to pass onto further processes as variable data to present to users and decision making.
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Supplier Identification - This process uses templates from the Template Manager and OCR to extract the required data. The supplier is verified by their email address or data that was added to the template identifiers. Data is returned to make further decisions.
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Process - Either pass the invoice directly through to your accounting system if you can match purchase order details or pass to workflow so that the invoice can be viewed, checked, passed through an approval process and posted to your accounting system.
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Post - to your accounting system.
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What if I want a more tailored setup?
NeoDocs can be purchased and installed on your server, please contact us to discuss.
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Contact sales for a list of authorised consultants.