ABBYY Solutions for Accounts Payable Automation

ABBYY’s capture solution for Accounts Payable is designed with great attention to the needs of accountants and controllers, and with the goal to address challenges they face in AP automation and optimization initiatives. It is aimed to reduce the amount of manual operations and administrative efforts involved in the processing of invoices and allow accounting staff to focus on strategic activities such as analysis, planning and forecasting.

The Benefits Our Customers See

Better budgeting and forecasting

  • Capture invoices directly at points of their entry into the organization, making the AP department early aware of their arrival
  • Improve the quality of data in the ERP system by introducing structured processes for entering new vendors and validating existing vendors
  • Attain better visibility into invoice statuses, due dates and payment liabilities to simplify audit and improve forecasting

Higher operational efficiency

  • Eliminate extra administrative work by making each invoice visible throughout the organization's approval cycle
  • Reduce the time spent on recurring invoices by processing all the correct ones automatically. Allow operators to focus on exceptions only and resolve them fast by zooming on highlighted issues
  • Reduce purchase costs by avoiding late charges and leveraging dynamic discounting

Governance and compliance

  • Mitigate risks by introducing automatic checks of invoice completeness, match to contracts and purchase orders, and compliance with organization's rules
  • Ensure early fraud detection with automatic validation of the invoice sender and alerts about discrepancies between the ERP data and information found on the invoice
  • Store invoices in a digital form, eliminating paper rooms and enjoying fast search and access to the documents

PepsiCo

By leveraging ABBYY’s capture & processing solution, PepsiCo has automated the processing of invoices, lowered error rates, reduced processing times and helped its business entities’ AP staff work far more efficiently.

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AP as a Shared Service

ABBYY’s multi-language capture solution supports invoices from many countries and brings great cost reduction to multinational organizations that have a shared service center for AP. With the choice of tools for centralized mailroom-type capture and ad hoc web-based capture, the system can be configured to meet existing habits and procedures in different branches of the company and effortlessly bring all invoices into the central processing flow.

Invoice Capture at a Glance

The below diagram provides a high-level overview of the role of invoice capture in the AP workflow.

Accounts Payable

Submission of an invoice to the capture system (either from a scanning device if the invoice is paper-based, or from an electronic file or an email message) initiates the automated process of capturing and validating data from the invoice. Validation can include matching the data against contracts, purchase orders and packing slips, verifying the vendor in the ERP system (SAP, Oracle, Sage, Microsoft Dynamics, etc.) and checking compliance against internal business rules. Compliant invoices that match with purchase order and delivered goods can be paid automatically, in a so-called “touchless” or straight-through process (STP). Exceptional invoices are routed to the approval or exceptions handling workflow.

Centralized processing of all paper, TIFF or PDF invoices has an additional benefit of transparent monitoring that helps identify bottlenecks and further improve the operational efficiency.

Automate and Simplify Invoice Capture to Save Time

  • Eliminate time consuming pre-sorting of invoices and supporting documents
  • Improve data accuracy and free up personnel from doing manual keying
  • Ensure data integrity with automatic rules and validations 

 

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Technologies at Work

ABBYY Invoice Capture solution is powered by advanced technologies that are developed, patented and offered exclusively by ABBYY. They include award-winning optical character recognition technologies that convert images and photographs into electronic text, as well as intelligent data capture and classification technologies for extracting data from forms and documents of virtually any type and complexity. ABBYY’s core technologies are supplemented by workflows addressing specifics of the AP business process such as invoice approval, rules-based routing, escalation and exceptions handling.

 

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Contact ABBYY to request a demo or to obtain additional information.