The Accounts Payable (AP) process even in small organizations is a time consuming and value eroding process. For medium to large organizations, the problem can be enormous. Vendors provide bills in myriad formats including paper and electronic via regular mail as well as e-mail. These bills must be reviewed, approved, and coded (according to a chart of accounts) prior to even entering the accounting system. Needless to say, this is an area ripe for automation as great efficiencies can be created, and money saved.
Leveraging a DocuPeak AP solution provides the ability to automate this process by capturing the unstructured information (vendor bills), analyzing it via Smart Document Recognition , routing it through an approval workflow, and then automatically entering the bill into your accounting software. And, despite the AP process existing in all companies, everyone is different. Some organizations have two approval levels, some have three. Others might process primarily PO-based vendor bills, while still others may process primarily off-PO bills. The underlying DocuPeak platform provides the flexibility to create such custom AP processes, linked directly to your accounting system.
It is remarkable that in this day and age, the vast majority of invoices are still sent in an unstructured manner such as a paper or PDF. However, the fundamental data on a vendor bill along with the structure is quite similar, even from an international perspective. Webiplex has innovated in this dilemma since its inception and has built cutting-edge features into DocuPeak that can eliminate this old style of doing business. While a DocuPeak AP solution out-of-the-box provides management of the AP process the way it is today, it also provides advanced features such as Smart Document Recognition.
While this may sound like technical jargon to the AP manager, what it means practically to our clients is they are purchasing not just a solution to handle their current process, but also one that is determined to reinvent the entire process. In short, our clients gain great efficiencies from day one, and then go along for the innovation ride as we create more automated and electronic forms of customer/vendor commerce.
With Webiplex DocuPeak, your AP process can be streamlined today, and automated into the future with Webiplex innovation.
Watch a short video introducing DocuPeak Robotic Process Automation used for Accounts Payable.
Contact Webiplex today to discuss DocuPeak for the automation of your AP or other accounting processes. You can also download an overview of using DocuPeak Accounts Payable below...
Download AP Datasheet
Webiplex provides several out-of-the-box integrations with cloud products such as NetSuite and Intacct. In addition, we are experts at working with your accounting system provider's integration tools to deliver a seamless, integrated solution.