Managed$Pay Accounts Payable Solution The process to receive, review, research, route, and access information regarding approving an invoice is labor intensive and can be the source of errors, noncompliance, and inefficient workflows—costing a company millions of dollars. Common problems include:
- Errors and the time to identify, research, and correct
- Inefficient review, match, or approval processes
- Inability to proactively manage vendor discounts
- Duplicate payments or lost invoices
- Lag time from exceptions, inquiries, and manual work
- Poor compliance, audit ability, and reporting
Gaining greater control over AP requires analyzing and optimizing processes specific to your organization and implementing the proper tools to reduce manual work, improve access to information, and automate workflow and validations.
Managed$Pay™ has been developed by a team of AP professionals with experience across multiple industries. This enterprise solution is designed to address real AP needs from the view of the employees involved in the review and approval of invoices and executives needing access to information. The solution can flexibly manage any AP process, and it provides for custom configuration without changing the underlying software code.
Managed$Pay™ is based on the IBM FileNet ECM platform and provides the following functionality to automate the invoice management and accounts payable process:
- Document capture/scanning
- Configurable workflow & validations
- Automation of pre-match & reviews/approval
- Email notifications & exception routing
- Built-in tracking and search
- Content management
- ERP integration
By automating the AP process with Managed$Pay™, invoices and supporting documentation are handled in an efficient and timely manner with fewer resources and better oversight.
Resources:
Managed$Pay™ datasheet
Invoices 7-50 (for mid-sized companies) datasheet
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