Supercharge Your AP Invoice Processing with Cloud Capture Technology
Collect. Extract. Validate. Accelerate.
Processing invoices quickly is crucial – for a myriad of reasons. Angry phone calls, late payment penalties, damaged relationships, and inaccurate payments can all lead to business strife. Even worse, they can put your supply chain at risk, making it difficult to fulfill orders and accurately forecast cash flow.
Why isn’t it easier? Because collecting, processing, and paying invoices is especially challenging when they arrive by all sorts of different delivery channels – including snail mail. And although counterintuitive, e-mailed invoices aren’t much better. They can still get lost, misdelivered, or accidentally deleted. Plus, without the right technology, employees still need manually input invoice data which can lead to costly errors and delays.
With all this tedious manual labor, it’s no surprise that accounts payable staff lack the time to focus on other higher value tasks, such as conducting AP data analysis, optimizing cash flow, or building key supplier relationships.
Invoice Processing Challenges
High costs
Labor cost is the single biggest contributor to bloated invoice processing budgets.
Inefficient processes
Time wasted on keying in invoice data is time that could be spent on higher value tasks.
Slow cycle times
Manually handling AP invoice data costs businesses money by drastically slowing down approvals.
Inaccurate payments
Error-filled data costs time as well as money and strains supplier relationships.
Poor scalability
Manual processes don’t scale easily to flex with business growth or seasonal fluctuations.
Level-Up Your Invoice Processing
Overcome the Biggest Accounts Payable (AP) Challenges with Cloud Capture
AP Automation - The ibml Solution
Accelerate and take full control of your invoice processing with ibml Cloud Capture (ICC).
Collect
Harness a single platform that captures data from any invoice – whether received via the mail, e-mail, or fax. Get the efficiency of smart invoice processing automation without forcing your suppliers to change the way they submit invoices.
Capture
Use ICC’s smart AI to automatically understand the supplier and extract all information on a supplier invoice. Minimize manual intervention and prevent invoice data capture errors common with manual entry by relying on advanced machine learning technology.
Manage
Connect with your existing business systems and content management services to keep processes flowing, no matter where your staff works – with the highest data security. If you don’t have a current system you can leverage existing Microsoft Sharepoint or Azure to create an easy-to-search and unified cloud-native AP document management system.
Integrate
Eliminate the need to re-key invoice data into an ERP or other financial systems of record. Smart Robotic Process Automation (RPA) technology emulates human actions to upload approved accounts payable invoice data into legacy systems without additional code. Software robots can work tirelessly and with no errors while freeing up humans for higher value activities.
Adapt
Gain the flexibility your AP invoice approval workflows need to keep up with your business. ICC’s cloud native architecture can scale up or down quickly to match your needs. Plus, adapt to any growth and change in business with seamless business system integration.
ibml-as-a-service (iaaS)
Harness the Latest Technology
Without the Upfront Costs
Gain an unbeatable technological advantage while freeing up your cash flows. With the new ibml-as-a-service, you can utilize ibml’s cutting-edge capture technology on a pay-as-you-go basis by opting for fixed quarterly payments. With greater flexibility and freedom, you’ll be able to avoid high CAPEX costs, preserve cash for other core growth initiatives, and customize, scale and bundle your technology subscription to fit individual needs. Plus, your investment is 100% tax deductible and eligible for upgrades or new features at any time.
Gain an unbeatable technological advantage while freeing up your cash flows. With the new ibml-as-a-service, you can utilize ibml’s cutting-edge capture technology on a pay-as-you-go basis by opting for fixed quarterly payments. With greater flexibility and freedom, you’ll be able to avoid high CAPEX costs, preserve cash for other core growth initiatives, and customize, scale and bundle your technology subscription to fit individual needs. Plus, your investment is 100% tax deductible and eligible for upgrades or new features at any time.
How the iaaS subscription process works:
