Solutions

Accounts Payable Automation

Say hello to a new age of error-free AP productivity and visibility

First, let’s talk about what’s wrong with manual accounts payable processing

Traditionally, accounts payable (AP) has always been a hands-on job. If you’re a growing business, that’s a problem.

Manual data entry is a big red flag when it comes to accuracy and speed.

The process of transferring information from paper to computer is often error-prone, simply because we’re human.

Unfortunately, the second it takes to make a mistake requires a significantly longer time to unravel, and can result in serious financial consequences to your business.

Line illustration of a confused data entry worker

Processing AP manually is also a slow and thankless task.

Which in turn drives up internal resource costs and attrition rates, delays payments, contributes to supplier frustration, and in some cases, results in a failure to comply with the Government’s recently established Payment Times Reporting Scheme (PTRS).

When invoices and orders pass through many pairs of hands on their way to approval and payment, you’re more likely to experience roadblocks. Plus, untracked documents can go walkabout, raising tensions further still.

Then you have the issue of managing thousand(s), if not tens of thousands of incoming invoices each month.

Ensuring that every emailed or mailed document is accurately captured, matched with an order number or other criteria, passed to the correct person for approval, posted into your ERP, and filed, is no small job.

Paper invoice processes also leave your business more vulnerable to fraud.

This concern has only grown with the move to work-from-home throughout the COVID-19 pandemic. The lack of visibility and control of your payables is an open invitation to submit duplicate or false invoices, divert payments and more. Also, achieving or proving compliance with internal processes is just about impossible when you’re working with pieces of paper.

Introducing Accounts Payables Automation

AP is a critical business function that’s ripe for automation. If there’s any place in your business to start saving money, streamline processes and deliver measurable efficiency, this is it. Our fully-featured Accounts Payable Automation solution makes your AP function less of ‘a thing’.

AP becomes simpler, faster, more accurate, manageable, reportable, and transparent.

It also becomes fully compliant with your internal processes, simplifies PTRS requirements, and requires fewer people and touchpoints, especially when you scale.

Your AP team can say goodbye to the thankless job of data entry and chasing approvals, and hello to more interesting and strategic tasks.

Line illustration of a happy female worker with growing charts and a verified process

With vastly improved data accuracy, payment processing is smoother.

First, data is extracted from either your paper or electronic invoices. Then, the invoice amount is electronically validated against the purchase order or other business logic.

If the invoice matches the order or logic, it is posted directly to your ERP for payment. And if it doesn’t match? We flag it for attention before it can go any further.

Invoices that do not match are routed to designated approvers.

These team members then receive automated reminders to ensure that they are signed off – or not – in time to meet internal deadlines.

Line illustration of a browser window with charts, time and money

With manual processes largely removed from the AP equation, your operational costs go down, efficiency levels go up, and errors are eliminated.

With 100% visibility of your AP function, you have a new era of control and security across your entire AP process – no matter where your team is working from.

When you need to find an invoice again, it’s there. Digitally…

Being able to see where all invoices are at any one time, across 3 different locations, is something that I could never have achieved without considerable effort from my team. I cannot imagine ever having to process them manually again. I am taking Redmap everywhere I go, I love it.

Why Accounts Payable Automation is going to make your day

AP is a critical business function that’s ripe for automation. If there’s any place in your business to start saving money, streamline processes and deliver measurable efficiency, this is it. Our fully-featured Accounts Payable Automation solution makes your AP function less of ‘a thing’.

Scale at will

With the removal of manual processes, an increase in invoice volumes doesn’t impact the time or resources needed to manage them.

A perfect match

There’s no need to find, pair, then compare supplier invoices to your purchase orders. If they match the order or logic, the invoice enters the approval process and your ERP. If it’s an exception, then we let you know!

Never ‘misplace‘ an invoice again

Once an invoice enters our Accounts Payable Automation solution, it can’t be lost, and details (like bank account numbers) can’t be altered without being tracked.

Work from anywhere

Our solution is cloud-based, so it doesn’t matter where your people work, or in which time zone. All that’s needed to stay productive is an internet connection and a smart device.

Reduce the risk of fraud ‘significantly‘

Out-of-sight no longer means out-of-mind with AP Automation. Every change is tracked, so alterations to transaction amounts or payments, or the addition of new suppliers, is visible and auditable. 

Put a tick against compliance

With AP Automation, everything, but everything is tracked, so you know what’s happened to every invoice.

100% invoice visibility

All supplier invoices and their status in your AP process are visible to the business. So, there’s no need to try and remember who has what when the vendor calls asking for an update or chasing payment. Or who in the business hasn’t signed off their invoice.

Eliminate tedious and inaccurate manual processes

Our highly accurate hands-off data extraction, ingestion, and automated approval workflows introduce a new level of operational speed and efficiency.

Help meet your sustainability goals

There’s no need to print out wasteful piles of electronic invoices to enter them into your AP process.

Say goodbye to email overload

Automated workflows dramatically reduce the to-and-fro process of invoice approvals and chase-ups.

Ready to see it in action?

How AP Automation works

3:38 min

Let us take you through the AP Automation process.

Automatic Statement Reconciliation

2:29 min

We provide you total visibility over your invoices and their status.

Powerful Dashboard Reporting

2:03 min

We provide you total visibility over your invoices and their status.

Search Everything

2:29 min

Forget those old archive boxes, we have you covered.

We’re well connected

Redmap Accounts Payable Automation has deep integration with your finance solution. Our ready-to-go connectors enable easy integration with leading API-based ERPs, including Pronto Xi, Microsoft Dynamics 365 Finance, SunSystems and more.

Schedule your free demo
A diagram showing the integration of Dynamics 365, Pronto Xi, and SunSytems into Redmap's AP Automation

Sound complicated?

While our Accounts Payable Automation solution may sound complex, it’s not. And the measurable business and operational outcomes aren’t difficult to understand at all.

If you’re ready to introduce a new era of speed, cost-savings, accuracy, security and streamlined AP efficiency to your business, ask us what’s involved.

Implementing AP automation with Redmap will mean that 75% of the invoices, about 37,500 of our 50,000 a month, will go straight through to be processed without finance needing to do a thing. That’s an enormous efficiency gain. Plus, our visibility is complete, I can see every invoice and where it is.

Learn how we make our clients’ Accounts Payable more transparent & efficient.

 
 
 
 
 
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