Does one size fit all accounts payable shops? Does everyone process accounts payable documents the same way? Advanced Capture Team recognizes the needs of our clients vary tremendously and have chosen intelligent solutions to accommodate the different requirements and project objectives of our clients.
There are many factors that lead a company in one direction or the other in their selection process for an Accounts Payable Automation solution. Advanced Capture specializes in working with clients to determine the best solution fit for our individual customer’s environment. Based on our project experience, we know whatis important in helping our clients when choosing the best solution:
The relationship between size of a company and invoice volume, and complexity of the business processes has a significant impact on Intelligent Invoice Capture and choice of Invoice workflow automation software. Typically, we see larger companies utilizing an in-house best of breed solution for complex Designation of Authority approval decisions or multi level invoice workflow requirements.
Companies both large and small with moderate invoice volumes and simple process workflows typically benefit from choosing a solution that is easy, fast and affordable to implement. SpringCM, a recognized leader in the On-Demand SaaS market is offers a low cost of entry, flexible Invoice Workflow Automation rules and configuration, with a user interface which is easy to learn and use.
Availability of in-house IT resources can have a major impact on the type of solution a company will choose. Companies with small and overburdened IT staff have found that SaaS solutions can be implemented with minimal IT involvement. Organizations operating SAP, Oracle or other major ERP systems with abundant IT resources and large budgets are more likely to implement and take ownership of an in-house invoice capture and invoice workflow automation solution.
Budget availability for acquiring an Accounts Payable Automation solution is a significant driver in selecting the right type of solution in today’s market place. In-house solutions have significant capital outlay requirements. Cloud or SaaS options have a recurring pricing model that is typically accounted for in an overhead or operating budget, and a low cost of initial deployment.
E-invoicing is gaining acceptance in North America. Einvoicing is the norm for automating the “front end” processes of Accounts Payable Automation solutions in Europe and the Nordic countries. E-invoicing companies can serve a general market of suppliers, and some e-invoicing companies, like Cortex for example, have extensive depth of knowedge, and a large supplier network in the Oil and Gas market. Joining an e-invoice network with a large number of existing suppliers can accelerate the savings for the Accounts Payable Automation customers. The cost of e-invoicing is less than paper processing as a general rule. Alleviating the need to capture, process, and store paper for even a short time eliminates time and cost from the invoice process. In addition, since einvoices are transmitted as XML data, and then rendered into an image. The invoices are “perfect” with no fax degradation, bad printing jobs, and other imperfections which can slow the image capture process when using a scanner. If you would like to understand whether e-invoicing is right for your business, please contact Advanced Capture and we will perform an Invoice Processing Analysis for you.
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