Reduce manual AP work to increase visibility and improve controls
With OnBase enterprise content management (ECM), you capture invoices electronically – whether fax, mail, email, EDI, etc. – and deliver them to the appropriate people for review, approval and coding.
By electronically managing the documents and information that drive AP processes, you maximize the benefits of fast and accurate invoice processing. You also improve vendor relationships and have the ability to capture early payment discounts.
With an OnBase Enterprise Content Management Solution from KeyMark, you can:
- Reduce manual work effort
- Increase visibility
- Improve process controls and tracking
Reduce paper dependency to decrease manual work effort
Users quickly access invoices and supporting content – as well as make decisions – from the applications and devices they work in every day, minimizing training.
By immediately imaging documents and making them available directly from enterprise resource planning (ERP) screens, employees no longer have to physically search for critical payment information. They quickly retrieve invoices, goods receipts, packing slips, check images, vendor contracts and even historical correspondence with a few mouse-clicks.
Workflows automatically route documents and information to appropriate business units, perform two- or three-way matching and post to accounting applications – notifying stakeholders along the way. By eliminating the need for business users to re-key information, you minimize the number of touches per transaction, reducing manual data entry while increasing AP process efficiency.
Increase visibility into processes and real-time information
OnBase easily integrates with almost any software, allowing your organization to leverage the value of existing IT investments – like your ERP – by increasing communication between them. You also gain visibility by electronically capturing all documentation in any format and storing it in one system.
Staff access, review and approve invoices or input additional data directly from the most convenient place – whether it’s their accounting system, ERP, email or mobile device. A real-time dashboard provides managers with visibility into the current status of invoice processing, enabling them to identify bottlenecks and adjust workload distribution.
Utilize consistent processes to improve control and tracking
Whether using an on-premises or hosted solution, OnBase gives you the tools to ensure consistent record keeping while guaranteeing the right information is available to the right people.
You also automate document retention in a secure system, provide consistent disposition and immediately respond to exceptions and audit requests. With control over document revisions and audit trails of changes to records, traceability is a non-issue.
With access to real-time information about the financial health of your organization, consistent processes and the ability to grant auditors web-based access to documentation, you also significantly reduce the time it takes to prepare for an audit.
By using OnBase to decrease your dependency on paper, you process invoices faster, increase transparency and reduce costs in your AP department. The affordability and ease of configuration means you realize a return on investment almost immediately. Meanwhile, regulation compliance and audits become simple tasks.