The Accounts Payable function is a labour intensive administrative process involving one or more of the following steps:
- Receiving and opening A/P invoice mail
- Distributing A/P invoices for approval
- G/L coding of invoices
- Manual entry of invoice data
- Filing hardcopy invoices
- Retrieving hardcopy invoices in response to inquiries
- Matching hardcopy invoices to remittance advice
Inefficiencies in the Accounts Payable process can create delays with undesirable consequences such as:
- Lost discounts
- Strained vendor relationships
- Increased accrual accounting
- Extended workflow cycle
By outsourcing your Accounts Payable mailroom and invoice input processing functions to ACI your organization can:
- Automate the approval process for all invoices (PO, non-PO)
- Significantly reduce processing delays
- Improve data entry accuracy and validation
- Shorten payment cycle
Specifically, ACI can optimize your Accounts Payable function by matching receipts at the line item level for PO invoices and by integrating workflow technology with corporate business rules for non-PO invoices, thereby automating your A/P approval process.
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How ACI Can Help You
For over a quarter of a century, ACI has been helping organizations in both the private and public sectors manage documents more cost-effectively.
Specifically, ACI has been helping organizations throughout North America to improve the productivity of their document management operations while reducing the risk of lost or misplaced documents, plus any associated penalties.
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