Accounts Payable Automation
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 Suite, businesses can transform their AP department into a model of efficiency, visibility, and control. Our solution, designed for seamless integration with Epicor Kinetic, automates every stage of the AP process, from invoice capture to ready-for-payment, making your operations faster, easier, and smarter.
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 automation, 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:
- 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 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
Built-in AI-powered invoice risk analysis and supplier verification combine 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, line-level workflows. 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 this 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.
Seamless Integration with Epicor Kinetic
Precise AP Automation Suite is a seamless companion product to Epicor Kinetic, offering over 50 touchpoints to provide a unified platform for AP 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 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 solution.
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.
