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Invoice Processing

Invoice Processing

Why automate Invoice Processing?

Every business, be it an SME or multinational need to run their operations as efficiently as possible. A recent Gartner report showed that up to 80% of business data & transactions are still in unstructured data, paper, email, fax etc. Nowhere is this more prominent than in the Accounts Payable (AP) area.

Manual AP issues

  • Keying errors.
  • Time taken for approval.
  • Missing data.
  • High cost of manual data keying.
  • Delays whilst invoices are manually matched and signed off.

Our solution

We start by capturing the PO & POD (in either paper or electronic format). Then we capture the invoices themselves in what ever format they arrive. We can automatically capture the required data (down to line item if needed) and then verify and validate it using existing databases, look up tables and manual checking.

Next, web import the data into your accounts system. The images are contained in a compliant repository that is linked to your accounts system so all your data and images are accessible at the touch of a button.

Automated AP benefits

  • Routing of invoices for sign off.
  • Automated capture of data rather than manual keying.
  • Reduce data errors.
  • Reduce time to have the invoice on your accounts system.
  • Invoices can be automated regardless of format.
  • Eliminate paper filing and storage.
  • Benefit from early payment incentives.
This Lightspeed solution gives you complete automation from purchase to payment. To find out more, please contact us.