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Automating Invoice Capture and Entry

Organisations that want to automate their financial processes are faced with a bewildering array of products and services, ranging from application software to hosting to toolsets to build-from-scratch consulting projects. Some of these products and services are specifically aimed at Accounts Payable (AP) while others are more general purpose solutions. Ricoh offers an integrated end-to-end AP automation solution that leverages the best practices from hundreds of implementations in leading organisations worldwide. The result is an invoice automation solution that:

  • Significantly reduces processing costs
  • Accelerates cycle times
  • Reduces the workload on AP and the business units AP supports
  • Increases visibility and performance

Accounts Payable groups are challenged with handling more invoices each year as their businesses grow. Adding more AP processors increases costs, so forward thinking organisations are looking to automation as a way to reduce costs, strengthen internal controls and provide better service to the business units they support. Additionally, automating the end-to-end AP process is a foundation for centralised finance organisations, shared service centres and globalisation.

Automation Drives Cost Reduction

Best practices in AP include centralised receipt of invoices, scanning invoices as soon as possible, and using workflow for invoice review, discrepancy resolution, coding and approval. The Ricoh AP Solution enables these best practices and significantly reduces the burden of manually entering invoice data into the ERP system.

Benefits

  • Significantly reduces invoice capture and entry costs
  • Provides finance management greater visibility into the AP process
  • Strengthens internal controls and enforces compliance
  • Reduces AP cycle times, leading to fewer late penalties and more early payment discounts
  • Improves invoice data integrity, leading to fewer mistakes and reduced problem resolution
  • Reduces the number of duplicate invoices entered into the ERP system
  • Leverages existing ERP system, maintaining the ERP as the single source of the truth

Further Information

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