redmap dms invoice automation
TRANSCRIPT
If you are buried each month in paper
invoices…
...you need Redmap
The manual AP process
Invoices are mailed or faxed by suppliers to remote sites, branches
and head office.
These invoices are receipted, processed and / or forwarded for
approval via fax or mail.
The manual AP process
Every invoice is manually approved, queried or rejected and then sent via
fax or internal mail to the Finance Department for posting and
payment.
This process involves phone calls/emails/faxes to handle errors,
queries and approvals.
The manual AP process
The Finance Department manually enters each invoice into the
Financial System for processing and payment.
Often the data is keyed and rekeyed (verified) to reduce data
entry errors
The main problems with your manual process.
• The time it takes to distribute paper invoices around the business for queries
and approvals.
• Postage, printing, copying and stationery costs are significant.
• Keying errors when copying data off paper invoices into the financial system.
• Delays in dispute resolutions while paper invoices are buried in various
manager’s in-trays.
• Paper invoices can get “lost in the post”.
• If the invoice is not paid the goods may not arrive as expected. This can
have a ripple efffect on projects and cashflow.
What is Accounts Payable automation?
• Scan and route invoices electronically at the point of collection
• Approve invoices electronically and quickly
• Capture and verify key information automatically at the time of
scanning (Invoice Number, Purchase Order Number, Invoice Date)
• Automatically sort and file invoices
What is Accounts Payable automation?Invoices are scanned at source or received directly at Head Office via
fax, email, FTP, EDI or the web.
Relevant invoice data is captured automatically and verified.
What is Accounts Payable automation?Approvals are made via the internet or
network immediately.
Invoices are matched to purchase orders.
Good are receipted.
Ledger codes are posted
Imaged invoices are automatically filed in Redmap for immediate search /
retrieval from anywhere in the world.
Archived invoices are also available securely via the Redmap web portal.
What is Accounts Payable automation?
Verified invoice data is posted to your Financial system ( JDE, Oracle,
Netsuite, SAP and others).
Payment is ready for remittance.
The immediate business benefits
• Invoice processing cost reductions of 30-90% *
•Processing cycle time reductions of 65%*
• Accounts payable labor reductions of 25-40%*
•Gartner estimates the cost of resolving a disputed invoice decreases by 50% when handled electronically.
• Cutting waste by reducing paper usage, printing and delivery costs
• Fast and accurate information!
*The E-Invoicing Solution Selection Report – Aberdeen Group Inc.
Invoices are either scanned centrally or remotely at branches and delivered to an operator queue for processing.
Queued invoices are automatically processed via Optical Character Recognition (OCR).
Captured data typically includes purchase order & invoice numbers, invoice date, invoice & GST amounts.
Exceptions are verified immediately.
Invoice templates are saved on the fly for future reference.
Redmap – Automated data capture
Managers can approve an invoice for processing and add notes if they wish.
Invoices that are approved are routed for general ledger coding and upload into the financial system.
Managers can approve an invoice for processing and add notes if they wish.
Invoices that are approved are routed for general ledger coding and upload into the financial system.
Invoice approval process is online
Archived invoices can be retrieved instantly from anywhere in the business.
Invoices can also be securely accessed via the ManageAnywhere web portal from anywhere in the world.
Archived invoices can be retrieved instantly from anywhere in the business.
Invoices can also be securely accessed via the ManageAnywhere web portal from anywhere in the world.
Invoices are instantly available
