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Accounts Payable+

Accounts Payable Automation Suite

Line Scan supplies a suite of applications to automate the Accounts Payable process. A customer who piloted our system, said:

It used to take us ten minutes to process a single invoice, and now we can process ten invoices every minute

For most organisations this will mean it will have paid for itself within 12 months, an amazingly short space of time.

Line Scan AP+ is a real time, rules based, supplier invoice processing system which could save an organisation upwards of 75% of their current costs.

In addition, Line Scan AP+ will provide data integrity, real time reporting, right place right time approval and many other efficiency gains that will reflect throughout your business.

Although Line Scan AP+ is a solution which is matched to your specific business requirements, for Accounts Payable it is based on a generic set of principles and processes that are delivered as standard. In a generic sense AP+ can be viewed as a series of stages to completion.

ap+
Stages of AP+
  • Capturing purchase orders and/or delivery notes
  • ICR of invoices, Invoice Scanning
  • Document matching, Invoice Processing
  • Exception handling
  • Approval process
  • Updating Accounts systems
  • Document archive
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Why Automate Accounts Payable Procedures?

In today’s competitive business environment, running your operations more efficiently is paramount to a successfully evolving organisation. When looking at efficiency, most modern organisations have already solved the issues surrounding their structured operational data, by implementing CRM, ERP, Accounts and other line of business systems.

However according to Gartner, up to 80% of business data, transactions and records are in an unstructured format – paper, fax, e-mail, office documents – and nowhere is this more prominent than within the Accounts Payable (AP) department. If a business wants to significantly reduce costs and in the same stroke become highly efficient, then the AP process is the place to start.

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The Cost of Accounts Payable+

The AP process in many businesses is still largely a manual process. As a result, AP departments often have many personnel whose sole responsibility is to process supplier invoices.

According to research carried out by the Hackett Group, manual AP processes are costing businesses on average £2 – £4 per invoice to process and reduce employee productivity by at least 50%*. Other research suggests that where invoices go missing or have a complex approval process, the costs can be as high as £20 per invoice.

What is evident is that regardless of the processes you have in place for approval and systems you have in place for Accounting, if you are manually handling the data then there is a huge opportunity to improve efficiency and reduce costs by streamlining your AP process. *cited ft.com