Make Accounts Payable Automation Processes Efficient and Less Costly
Ensuring your clinicians have the tools, medicine, and supplies they need to deliver care is at the forefront of our ECM solutions for accounting. In accounts payable (AP) alone, the typical cost of processing just one paper invoice averages between eight and ten dollars apiece. Between the copying, paper shuffling between departments for approvals, and low visibility into processes, it’s no wonder the AP process is that expensive. On the opposite end of the spectrum, the most efficient AP departments process invoices electronically for less than two dollars per invoice. Added to this is the cost to create the PO requisition, get quotes, negotiate, and place orders.
Naviant delivers solutions for invoice processing, PO matching, vendor inquiry, invoice approval, travel and expense, and any and all other areas across the accounting department, helping your team and organization:
- Take advantage of early discounts and avoid late payment penalties through automated workflow and electronic alerts
- Lower the cost per invoice by speeding processes and removing duplicate payments, missed discounts, and late payment fees
- Eliminate duplicate invoices by managing information electronically, instead of copying them to send to multiple locations, reducing cost and the opportunity for error
- Reduce unaccounted liabilities by bridging the gap between an invoice’s arrival and the time it takes to appear in the system, allowing AP to know exact liabilities at any given time
- Enhance customer service and save time with immediate electronic access to invoices
Intelligently manage documents to make AP faster
The AP process has two separate but related players—data and documents. Although Lawson, SAP, Oracle, Dynamics and other ERPs handle data well, paper invoices, packing slips, and other necessary supporting documents can be a challenge to manage even with these applications.
Once you capture AP documents with an ECM solution, whether those are paper, fax, emails, or EDI, they are automatically indexed with data from your ERP or other accounting software. Simple approvals that meet set requirements can move straight through processing. Those needing review go directly to AP clerks. Because our solutions enable invoice distribution on the basis of region, vendor, time zone, or workload, documents are sure to reach the right person.
AP staff can then send those on to the appropriate approvers. Approvers receive email updates when they have invoices to review and periodic reminders if they don’t complete the approvals right away.
A proven history of empowering AP success
Naviant’s partners have focused on creating software that can integrate with our clients’ existing business applications. Although our ECM solutions are standalone, it is increasingly important for all of the customer’s business applications to communicate and share data. Our integrations allow you to reduce user data entry, speeding up processing time for business processes and increasing user productivity—all while extending the value of your current IT investments.