Datamation’ s accounts payable outsourcing service utilizes workflow and imaging to improve efficiency and accuracy, and to lower costs in the accounts payable process.
According to the Aberdeen Group, the industry average cost to process an invoice is $15.61 and it takes 9.7 days. AP outsourcing from Datamation can achieve a cost range of $1.40 to $1.95 per invoice, and processing time can be cut to under 2 days.
In addition, Datamation’s system and services will give your office the accounts payable tools necessary to drastically reduce errors, speed up payment, and track where your money is going, allowing you more control and the ability to reduce labor costs.
Datamation is certified by the Institute of Finance and Management (IOFM) and has received the Accounts Payable Solutions Consultant Certification (APSC).
Datamation’s accounts payable outsourcing service uses a combination of mailroom outsourcing, document scanning, and an automated invoice processing workflow system. The end result is a fully digital invoice tracking and payment system that requires less manual labor and a streamlined, easy-to-use cloud platform from invoice to payment.
Here’s how it works:
Step 1: Invoices are received via standard mail and email. Our mailroom outsourcing system scans your incoming paper invoices and converts them to an electronic form. In addition, an email is set up to receive invoices that are already received electronically.
Step 2: Specialized software learns and reads incoming invoices and automatically extracts the data necessary to process payments. Invoice data is then reviewed for accuracy and uploaded into your current ERP or line of business application for accounts payable.
Step 3: Secure delivery to your accounting department. Datamation uses only secure server technology to facilitate digital AP outsourcing and cloud-based paperless document storage.
Instantly learn how much money you can save monthly by automating your AP processes.
Interested in outsourcing your AP processing? Contact us for a free consultation.