DocuPeak Vendor Management
Vendor Management automates operations around interacting with your suppliers, particularly around the submittal of invoices. When you are simply receiving vendor bills and running them through and accounts payable process, this is a form of “passive” vendor management in effect because you are essentially receiving information in whatever form the vendor chooses. DocuPeak supports this passive model of interacting with vendors, but also supports more sophisticated “active” vendor management.
Active Vendor Management involves providing tools for the vendor to deliver information (such as vendor bills or expense reports) in a manner that you prefer. Specifically, a DocuPeak portal can be created that allows vendors to submit bills or expenses using DocuPeak Electronic Forms. When the vendor enters this information electronically, the burden on you accounts payable department decreases greatly because the information is already in the format your systems can consume. No data entry, no key from image, no barcodes or OCR required.
An energy services organization used DocuPeak in conjunction with their NetSuite ERP to allow thousands of contract vendors to submit expenses. These expenses are then automatically routed to approvers via e-mail, and e-mail responses are automatically tracked by DocuPeak to signal approval of the bill. DocuPeak then enters the bill automatically into their ERP. What was once an e-mail driven, ad hoc spreadsheet, manual data entry process is now entirely and completely automated.