AUTO-AP

AUTOMATE YOUR ACCOUNTS PAYABLE PROCESS TO DRIVE OUT EXCESS COST AND REGAIN CONTROL OF YOUR CASHFLOW

In today’s economic climate it’s essential to keep a tight rein on your organisation’s cashflow and minimise the cost of running your business. 

If you’re constrained by processes that are heavily reliant on manual tasks, you will never achieve the cost savings and efficiencies needed to protect your business.

Only well implemented automated processes can bring the levels of management control you need to support your business during the tough times and maximise your profitability as the situation improves.

With typical productivity improvements IN EXCESS OF 60%, Auto-AP from Root 3 eliminates inefficiency, dramatically reduces costly process overhead and puts YOU back in control of your cash.

The Business Benefits
Independent research indicates that even the most efficient manual AP processes result in a cost to your business of £2 - £4 per invoice.  Problem invoices can cost up to 10 times as much.

Consider then, that if you are processing 50,000 invoices a year you could be paying up to £100,000 more than you need to every year.  With AUTO-AP from Root 3 you could have a return on investment within 10 months and save upwards of £500,000 over 5 years.  With 500,000 invoices a year your payback would be in 3 months with savings of up to £5,000,000 over 5 years. 

Can your business afford not to look into this?

The process improvements that AUTO-AP facilitates are both financial and operational enabling you to reduce process cost, improve quality and accuracy of data, and increase financial control.

What is AUTO-AP?
AUTO-AP is an advanced software solution that removes unnecessary manual intervention in the accounts payable process. 

As illustrated in the diagram below it:

  • automates the capture of all of the data from your supplier invoices, whatever their source;
  • routes electronic images and data to managers/budget holders for authorisation, wherever they are;
  • tracks the location and status of every invoice;
  • updates your accounting/ERP system with approved invoices;
  • manages the secure storage of electronic documents for future reference;
  • provides you with the real-time cashflow information you need.

AUTO-AP Process Schematic

How Can AUTO-AP Improve YOUR AP Process?

Invoice Capture:

  • Automatically capture the data from ANY supplier invoice, whatever the layout, WITHOUT TEMPLATES; Capture single and multi-page invoices;
  • Extract individual line item details;
  • Validate invoice values;
  • Validate invoice against originating purchase order;
  • Validate supplier details;
  • Identify non-compliant invoices and automatically return to supplier;
  • Support multi-language invoices;
  • Support multi-currency invoices;
  • Integrate with existing accounting/ERP platforms.

Invoice Authorisation:

  • Automatic multi-way matching, (invoice, P.O., GRN, etc);
  • Automatic ‘rules based’ routing of  invoices for electronic authorisation;
  • Nominal code allocation;
  • Manual routing over-rides;
  • Multi-level sign-off hierarchies;
  • Sequential and/or parallel authorisation processing – one invoice, multiple authorisers;
  • Automatic re-routing (holidays, sickness);
  • Automated prompts and reminders for outstanding/overdue actions;
  • Automatic value variance thresholds;
  • Real-time progress reporting – know where every invoice is;
  • Automatic and/or manual posting to accounts/ERP system;
  • Full audit tracking and recording
  • Browser based – no software to deploy and accessible ANYWHERE.
Document Storage:
  • Automatic storage of fully indexed documents;
  • Comprehensive role-based user security;
  • Fully encrypted (AES 256bit) for total document security;
  • Browser based retrieval – no software to deploy;
  • Store ANY document type – images, PDFs, MSOffice documents, and e-mails too;
  • Fully audited to ensure compliance.

With AUTO-AP you can:

  • Integrate with ANY accounts/ERP application;
  • Operate a common automated process for all invoices whether paper, fax, PDF, XML or EDI;
  • Reduce invoice capture and processing costs by 60% or more;
  • Instantly identify errors in supplier invoices;
  • Eliminate invoice capture errors within AP;
  • Simplify invoice exception handling;
  • Apply your own process rules to ensure invoice compliance;
  • Improve your cashflow visibility;
  • Regain and retain total control of your AP process;
  • Collect and review performance metrics for the entire process;
  • Identify duplicate invoices and automatically return to the supplier;
  • Eliminate duplicate payments;
  • Know the location and status of every invoice, instantly!
  • Never lose an invoice;
  • Exploit prompt payment discounts;
  • Avoid late payment fees;
  • Automatically match invoices to POs, GRNs, or any other document/data source;
  • Stop wasting time and money maintaining (multiple) paper files;
  • Ensure regulatory compliance;
  • Simplify HMRC and accounting audits;
  • Schedule payments efficiently – No more last minute cheque or CHAPS payments.

To find out more and discover how YOU can transform Accounts Payable efficiency and productivity in YOUR organisation CLICK HERE to contact Root 3 or call us on 01275 378010 for an informal, no obligation discussion.

We’ll ask you a few questions about your current procedures for processing and approving invoices, help identify any bottlenecks, and reveal where any opportunities exist for significant cost savings.

 
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