Managed$Pay™

Managed$Pay™ is a workflow process automation software that integrates document imaging, document/work management, validations, ERP interfaces, and reporting to provide overall efficiency in the processing of invoices. Managed$Pay™ leverages IBM Enterprise Content Management (ECM) as the platform for its content management and workflow engines.

Managed$Pay™ addresses these challenges:

• Manual AP processing taking too long
• High costs to identify, research, and correct discrepancies
• Inefficient review, matching, and approval processes
• Excessive invoice research, inquiries, and exceptions
• Poor compliance, audit ability, and reporting
• Lost or misplaced invoices

Managed$Pay™ simplifies invoice approval and discrepancy resolution. The product was designed with the following AP Principles in mind: up-front security; elimination of paper-based processing; embedded audit trails; reduction of manual work and data entry; and improved access, control, and efficiency.

Benefits include:

• Faster processing time with fewer resources
• Reduced processing errors, misplaced invoices, and delays
• Better control, accessibility, and tracking of invoices
• Improved compliance and financial integrity
• Improved ability to handle large volumes of invoices
• Ability to identify and take advantage of the right early payment discounts
• Reduced manual work so employees can focus on value-added items
• Real-time information for better control, analysis and decision-making support
• Audit and summary reporting (e.g. Accrual reports)
• Optimization of employee skills and staffing levels
• Reduction of vendor inquires and promotion of self-help

Managed$Pay™ provides the tools to realize significant cost savings and efficiency gains through online content management, process automation, and access to real-time data. It supplies the core, back-office business processes that enable organizations to increase operational efficiency, maximize shareholder value, and make better decisions throughout the accounts payable process.

Miria Systems, IBM Corporation, and the Fifth Third Bank have produced a webinar about how Managed$Pay has helped Fifth Third Bank to automate its Accounts Payable invoice process. To register to watch this webinar please go to: http://www.ibm.com/software/ecm/managedpay.

Additional Case Studies: To find out how Managed$Pay™ has been able to help other companies, click here.