"Clear the mountains of paper and free your team from slow and cumbersome data entry."

Are Your Accounts Payable Processes Outdated?

A stressed and unhappy Accounts Payable team, the FD on their backs, and slowly drowning in paper… Not the description you’d usually see in a job advert for AP clerks – but maybe it’s a more accurate picture than most organisations would like to admit. How did it get this bad?

It’s undeniable that the pace of business is continuing to accelerate and managers expect faster turnaround whilst also trying to drive costs down. AP processing has the unenviable position of being very important to keeping the cogs of the business turning, but in itself is seen only as a cost, albeit an essential one. How can AP processes keep pace and simultaneously drive down the costs of actually processing an invoice? It seems an almost impossible task – at least it does when you are surrounded by piles of paper, each page requiring manual processing.

To key to ending the misery is to adopt modern, proven technology solutions that can significantly reduce the amount of manual processing required. The FlowMatrix Invoice Processing Solution enables you to eliminate the paper by rapidly scanning and digitising the paper documents. The solution then employs OCR and smart processing algorithms to effectively “read” the invoices to extract all the available data, to the extent possible. In this way a significant proportion of invoices require no manual keying at all and in general as much as 80 to 90% of the available data is captured automatically.

The cost savings associated with the reduced manual overhead and other related savings mean that the solution often pays for itself within a few months of going live.


Want to find out more? Contact us today!