Reduce invoice processing costs to $1.50 - $1.70 per invoice, gain control of processes with 300% productivity increase and ensure and prove compliance
You don’t have to be in the Fortune 500 to enjoy the benefits of an automated AP department. Using our Solution of Capture™ for Accounts Payable, organizations with as few as three people in the AP department will receive hard dollar savings. In addition, the cost to process the average invoice drops to the $1.90 to $4.68 range down from the $9 to $13 average the Institute of Management and Administration (IOMA) estimates.
Future Perfect Solutions can help you streamline your entire Accounting Department by offering the industry’s only complete Accounts Payable and Accounts Receivable processing solution. The “Capture in Accounting” article discusses the unique technology that enable us to automate both A/P invoices and remittances within one solution.
Our Solution of Capture for Accounts Payable reduces the number of human touches during each step of the invoice processing lifecycle: opening, sorting, reviewing, approving, routing, matching to purchase order and receiving documents, manually entering header and line item data, filing and storing. You can expect sixty percent productivity improvements with our standard “out of the box” implementation, and 300% improvements by applying workflow and document management components.
Solution of Capture captures payment data accurately the first time thereby eliminating the hours wasted on manual data entry and correcting data entry errors. Our ability to classify all incoming documents saves valuable time and eliminates the number of people touching the paper.
Once the data is accurately captured, invoices are routed to the appropriate personnel for approval using automated workflow technologies. The invoice information is then posted to the general ledger of virtually any ERP or accounting system including, but not limited to:
Our solution provides end-to-end automation, from the mailroom through archival, and it enables your AP Department to track and access your documents at any time and from any desktop. Research that typically requires manually searching through file cabinets or storage facilities can easily and quickly be achieved without leaving the desk. Customer service questions are answered with a single telephone call.
When the invoice data is converted to actionable information and is inside your accounting system within hours of receipt, you will have the ability to proactively take vendor discounts and make well-informed decision.