Accounts Payable Automation
Streamline your Accounts Payable automation operations and empower your AP team with intelligent invoice workflows through Precise AP Automation Suite, designed specifically for Epicor Kinetic.
Faster, Easier, Smarter AP Processes
Managing accounts payable (AP) can be cumbersome and error-prone, often hindered by paper-based processes and manual data entry. With Precise AP Automation software, businesses can transform their AP department into a model of efficiency, visibility, and control. Our accounts payable automation solution, designed for seamless integration with Epicor Kinetic, automates every stage of the AP process thanks to the AP automation software, from invoice capture to ready-for-payment, making your operations faster, easier, and smarter.
As part of our comprehensive enterprise resource planning solutions, Precise AP Automation Suite ensures that your financial workflows are seamlessly integrated with other business processes. With the expertise of Precise Business Solutions, you gain access to cutting-edge tools that align your accounts payable operations with your broader ERP goals, enhancing scalability and performance.
The Challenges of Accounts Payable Without Automation
Most businesses struggle with common AP challenges that slow down invoice processing and increase costs:
- Manual data entry that is prone to errors and delays.
- Paper-based workflows that can easily misplace invoices and lack transparency.
- Delayed payments, leading to missed discounts, strained supplier relationships, and potential penalties.
- Inefficient approval processes, causing bottlenecks and loss of control over spending.
- Limited visibility, preventing real-time insights and strategic decision-making .
Without accounts payable automation software, these challenges can drain resources, reduce profitability, and potentially leave your company vulnerable to compliance risks and fraud.
How Precise AP Automation Solves AP Problems
Precise AP Automation Suite delivers efficiency, visibility, and control through cutting-edge automation, tackling AP challenges at their core with an intelligent accounts payable automation solution:
- Efficiency: Automating repetitive tasks like invoice data entry and matching accelerates processing times, freeing your team to focus on value-driven activities.
- Visibility: With real-time tracking of invoice statuses and approval workflows, your AP team can quickly address exceptions, resolve discrepancies, and ensure timely payments.
- Control: Configurable accounts payable automation workflows and AI-powered invoice risk analysis give you greater control over spending and compliance, while minimising risks associated with manual errors.
Key Features of Precise AP Automation Suite
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Smart Invoice Capture
Using AI-powered Optical Character Recognition (OCR), invoices are automatically captured and extracted for processing. This significantly reduces the time spent on manual data entry while improving accuracy.
Smart Risk Analysis
Accounts payable automation developed in Australia comes with a built-in AI generated invoice risk analysis and supplier verification combination to ensure that risky invoices are flagged, protecting your business from potential financial loss and non-compliance with regulations.
Smart Invoice Matching
Our intelligent matching algorithm automatically matches invoices with purchase orders and receipts, reducing manual intervention. Tolerance-based rules allow “no-touch” processing for invoices that meet preset conditions.
Approval Workflow Engine
Automate and streamline your invoice review and approval process with flexible multi-dimensional accounts payable automation software. Route approvals based on over a dozen fields and track real-time invoice status to improve visibility and eliminate bottlenecks.
Real-Time Analytics
Gain valuable insights into your AP performance with out-of-the-box reports and real-time access to data, uncovering process bottlenecks and identifying cost-saving opportunities. Please note this is an optional add-on to the AP automation software suite.
Seamless Integration with Epicor Kinetic
Precise AP Automation Software Suite is a seamless companion product to Epicor Kinetic, offering over 50 touchpoints to provide a unified platform for accounts payable automation software invoice processing. Whether on-premise or in the cloud, our solution leverages the full capabilities of Epicor, ensuring that your financial data flows smoothly across systems.
With our deep integration, your AP team can:
- Automate and streamline the entire AP invoice process.
- Experience full visibility across the entire invoice lifecycle.
- Leverage shared data with Epicor Advanced Requisition Management (ARM) to further optimize the entire procure-to-pay process on a single platform.
Why Choose Precise AP Automation?
With Precise AP Automation Suite, you can elevate your financial operations and transform your AP department into a strategic asset. Our accounts payable automation solution empowers your business to:
- Significantly reduce invoice processing costs by up to 80%.
- Improve cash flow by enabling faster invoice turnaround and better discount management.
- Enhance supplier relationships through timely, accurate payments.
- Achieve scalability by adapting to increased invoice volumes without the need for additional staff.
- Increase compliance and reduce the risk of fraud with automated controls and AI-driven oversight.
Looking for a Seamless Procure-to-Pay Solution?
Unlock the full potential of your procurement and accounts payable operations by combining Epicor Advanced Requisition Management (ARM) and Precise AP Automation Suite. Combined with seamless integration to Epicor Kinetic, these powerful products provide a comprehensive, end-to-end procure-to-pay accounts payable automation solution..
Frequently asked questions
What are the benefits of using accounts payable automation solutions?
Accounts payable automation solutions offer significant benefits for businesses of all sizes and locations. By implementing accounts payable automation software, businesses can streamline invoice processing, reduce manual data entry errors, and accelerate approval workflows. This leads to improved efficiency, better cash flow management, and stronger supplier relationships. Additionally, for companies in Australia, adopting accounts payable automation Australia solutions can help ensure compliance with local regulations, while businesses globally can enjoy substantial cost savings and enhanced operational performance.
How does accounts payable automation software improve invoice processing?
AP automation software utilises advanced technologies like AI-powered Optical Character Recognition (OCR) and intelligent invoice-matching algorithms to capture, validate, and process invoices automatically. This significantly reduces the need for manual intervention, resulting in faster invoice turnaround times and greater visibility into approval workflows. No matter where your business is operating, accounts payable automation solutions can easily integrate with your existing systems (such as Epicor Kinetic), ensuring a smooth and efficient process across regions.
Is accounts payable automation software scalable?
Yes, accounts payable automation software is built to grow with your business. Solutions like the Precise AP Automation Suite are designed to handle increasing invoice volumes without requiring additional staff, making them ideal for businesses globally. Features such as configurable workflows and AI-driven risk analysis allow organisations to maintain control over their processes while adapting to expanding business needs.
Why should businesses invest in accounts payable automation solutions?
Investing in accounts payable automation solutions allows businesses to tackle common challenges such as manual data entry errors, delayed payments, and limited visibility into financial processes. Accounts payable automation solutions enhance compliance, reduce processing costs, and improve supplier relationships. Your business can leverage these solutions to increase efficiency, stay competitive, and improve their financial operations in today’s fast-evolving business landscape.
Ready to Automate and Streamline your AP Processes?
Book a demo with us to explore how Precise AP Automation Suite can add value to your business.
