Automated Invoice Outsourcing
Datamation’s accounts payable outsourcing (APO) service is a combination of mailroom outsourcing, document scanning, and automated invoice processing that can slash your AP labor expenses and drastically reduce errors. We understand that small businesses must be efficient. The software solutions we offer can provide that service.
Invoice Processing Software
Our automated software can take incoming invoices that cost between $15 and $20 per parcel to handle when they arrive by mail and automatically convert them to electronic formats on the same day they arrive. Our document scanning system then sends the invoices by email to your accounts payable office for immediate review. This system has several advantages:
- Reduced processing costs from $15-20 per invoice to <$1
- Elimination of errors, duplicate invoices and late fees
- Ability to realize early payment discounts
- Secure central repository for invoices and supporting documents
- Automatically match invoices to payment orders
- Remote, simultaneous access to invoices and supporting documents
- Complete version control (no more emailing outdated Excel spreadsheets)
- Reducing invoice discrepancies and disputes, strengthening vendor relations
- Enhanced business intelligence (BI)
Automated Invoice Processing Services
Automated workflows help speed the approval process for payment. Not only are the incoming invoices immediately digitized, they are also forwarded to the appropriate personnel and immediately integrated into your system. The invoice metadata is electronically extracted, verified and scrubbed for accuracy by Datamation. The scrubbed data, including line items, is securely delivered to you and can be fed directly to your ERP system, workflow, or ECM document management system. The entire process happens in five easy steps:
- Invoices are received by Datamation by U.S. mail and email
- Paper invoices are automatically converted to digital images
- Invoice images are processed and the data is extracted
- The extracted invoice data is verified for accuracy
- The verified invoice data is digitally relayed to your accounting office
Benefits Of Automated Invoice Outsourcing
As with all digitizing and automation, the most immediate benefits are efficiency and cost reduction. Businesses need to spend as much of their payroll as possible on front-end talent that sets your company apart from its competitors. That means reducing costs elsewhere. Increased efficiency in accounts payable is an easy way to streamline your workflow, reduce labor costs, lower the cost per invoice, improve accuracy and reduce errors. The cost saving is immediate and comes without upfront costs to your business.
In addition to the lightning-quick invoice delivery system, because your AP files are automatically digitized, they can also be stored on Datamation’s secure cloud-based servers. This ensures timely access for review and easy recall for taxes and other regulatory filings relevant to your industry.
Ready to streamline your invoices? Contact us.
Taking the Mystery Out of Accounts Payable Automation
Learn more about the capabilities and benefits provided of AP automation.