AP Invoice Automation by ColumbiaSoft
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ColumbiaSoft offers a paperless invoice automation system aimed at improving accounts payable processes by reducing costs associated with manual processing and errors. The system facilitates easy digitization, indexing, and workflow management of invoices, allowing for efficient approvals and seamless integration with accounting applications. ColumbiaSoft, founded in 1998, supports over 700 customers and focuses on innovative, customized document management solutions.
AP Invoice Automation by ColumbiaSoft
- 1. AP Invoice Automation For Paperless Accounting © ColumbiaSoft, Inc. All Rights Reserved
- 2. A closed-loop system for paperless AP approval processing Digital capture “Prior to Document Profiling Locator, a lot of hours were spent by Error checking department managers Workflow routing going through filing Notifications and alerts cabinets researching Approvals hard copies of invoices Watermarking for budgeting, payment histories, and new Processing and archiving project planning.” Horizon House
- 3. The problem with invoice processing Manual, time-intensive The average cost of processing an invoice Delays, errors, lost files with little or no automation can be up to Check re-issues 20 times greater than the cost with Slow filing, retrieval automation. Source: IOMA’s AP Department Benchmarks and Analysis 2010 Not scalable Difficult three-way matching
- 4. An efficient, paperless approach Scalable Meet demand during peak processing periods with the ability to quickly ramp-up processing when volume gets heavy. Easy three-way matching Invoices, purchase orders, and shipping documents are in digital order packages. Streamlined audits Everything is full text searchable, cross-referenced with index data, and digitally organized. Reports Improve consistency and visibility over invoice processing cycles.
- 6. Invoices arriving by mail, fax, email, FTP, or other paper and electronic sources are quickly converted to full- text searchable digital files and made ready for processing in DL.
- 7. Using the DL Profiler tool, Using index values, invoices are invoices are quickly auto-named, saved into the correct categorized with metadata digital order package, and then values including PO#, routed into their appropriate Invoice#, amount, and other approval workflows. indexing values.
- 8. Verification of index Automated workflow notifies values ensures that approvers with alerts and invoices are ready to emails. Every approval is proceed before captured electronically. The continuing into approval risk of lost, misplaced, or steps. Rejected invoices forgotten files are are held for additional eliminated. review.
- 9. Once approved, routing decisions determine if any additional approval steps are necessary based on variables such as dollar amount or spending authority.
- 10. With invoices approved for payment, data is ready for export to Accounting applications, and files archived.
- 12. Index files with metadata
- 13. Document management system Document Locator original release: 2001 Current version: 6.3 Business Solutions We support our customers Customers praise our support team We innovate with version releases We provide customized professional services A “best-practices” approach Solutions for specific, unique business challenges
- 15. Our company ColumbiaSoft technology helps businesses improve and automate document centric business processes. Founded in 1998, to become a leading provider of enterprise-class document management solutions Eight-Year Microsoft Partner; Gold, ISV Over 700 customers with over 35,000 users ColumbiaSoft partners