Looking to optimize your systems?
Looking to optimize your systems?
Start by automating your Accounts Payable process.
When you make the move from paper-based processes to digital and automated ones, your business not only saves valuable time but also saves money and reduces your risk for fraud. Learn more about how you can get started automating your AP with the DASH AP Robot™.
With accounts payable automation, invoice processing speeds up considerably. It also reduces manual processing, thus minimizing the risk of human error. By letting DASH’s automated accounts payable software handle the administrative work, your employees can instead focus on exception handling and analysis. The result is lower invoice processing costs and faster accounts payable throughput.
Key Features to Improve Workflow
Artificial Intelligence = Speeding Up Processes
Our Artificial Intelligence engine is at the frontline, recording and verifying invoice data to spot exceptions and also make initial decisions on a case-by-case basis. With automated invoice processing, the artificial intelligence technology will do the heavy lifting for you, recording, verifying, and identifying potential issues. And in the process, of learning the tasks requiring judgment, to speed up your AP invoice processing is often slowed down by manual efforts.
3-Way Matching = Reduce Manual Processing and Focus on Exceptions
The process of gathering and reconciling invoices, POs, and receipts is a vital part of the AP workflow. At first glance, the task seems to be predominantly manual. But with automated invoice processing, that’s not the case. DASH’s AP Robot™ accounts payable automation software leverages the technology of business rules built into the client’s ERP system to automate the purchase order matching.
By configuring tolerances, you can customize the guidelines. Our accounts payable automation software evaluates the digital invoices against the configuration. It automatically approves invoices that are within tolerance and pass the 3-way match (Invoice, PO, and Receipt). When the invoice and PO don’t match, the system sets it aside for a knowledgeable user to review the exceptions. The Dash AP Robot puts the focus on what truly needs attention, thus cutting down the manual workload of reviewing and matching invoices and POs.
Reduced Costs and Reduced Human Error
Automated AP streamlines your supplier invoice process gives you more control over internal processing functions with better visibility and traceability, and improves the speed at which vendor invoices are processed. The cost of processing invoices comes from manual labor, inputting invoice data and information, correcting mistakes, storing physical invoices, and routing the invoices for approval. Automating the process saves both time and effort and reduces the risk of costly human errors.
Looking to optimize your systems for this year?
There’s no reason to rely on email and spreadsheets to handle and manage supplier invoices anymore. While this method works, it relies on manual data entry which takes both time and effort. Where a human can make errors in the invoice processing workflow, AP automation repeats the same process according to configurable business rules.
No matter the size of your organization, invoices will be misplaced or forgotten. Many vendors will charge a late fee for a missed payment, affecting both credit ratings and your organization’s cash flow.
With automated AP software like the DASH AP Robot™ the risk of missing an invoice due to human error is reduced, ensuring invoices are paid on time (or you could earn early-pay discounts!). This helps you maintain a good relationship with your suppliers.
Paper and other manual-based processes slow down the invoice approval process significantly and are prone to human error. DASH’s AP Robot software integrates with existing ERP systems, streamlining the invoice approval of both PO- and non-PO invoices, making it easier by being able to email out of the Robot to get approval. Once approved the invoices are posted to your ERP for payment.
The AP Robot™ features:
- Real-time integration for real-time data off-the-shelf
- No expensive interface development or complex implementations
- Drag and drop functionality for quick analyzing
- Visibility into the approval status of invoices
- AP team gets a complete package to review including invoice, PO, and goods receipt
As such, AP Robot™ automation presents a unique opportunity for small to medium-sized businesses to enjoy the advantages often reserved for only larger enterprises without the need to spend massive amounts of capital or time to do so.
About the Author:
Stephanie is the marketing guru at Dash. For over 20 years, Dash has been authoring, delivering, and supporting Dash DDX™, its ERP-integrated Document Automation software to small and mid-sized manufacturing and distribution companies throughout the USA and beyond.
Excited about what you read? We want to hear from you! Let’s chat! Fill out our form and we’ll be in touch!
Sign up to follow blog posts from Dash