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A/P Automation

Dipak Bhakta's Profile

Can anyone who is currently using A/P Automation software provide comments (good and bad) as to their experience with their particular software?  By A/P Automation, I mean software to scan invoices, using OCR or ICR to capture data, and process invoices using rules-based controls, electronic workflow, and interface to ERP system for payment.  We are looking to implement a solution in a large ($multiBillion) privately held company, and are currently in discussions with several software providers. The sales guys all claim significant improvements in efficiency but I want to get an idea of the real experiences from people who have gone down that path.  Thanks!  :-)

Answers

Achaessa James
Title: Product Manager
Company: National Center for Employee Ownership
(Product Manager, National Center for Employee Ownership) |

Hi, Dipak. We have worked with our document management system vendor - SpringCM - to implement exactly such a workflow that integrates document capture, OCR recognition, and AP invoice posting to one of the accounting softwares that we use - Intacct.

We have successfully implemented this software and workflow with our accounting customers on Intacct and our functional team reports reduced processing times as a result of this innovation.

I don't know what OCR software SpringCM is using, but I'm sure if you contact them they'd be glad to speak with you. Please contact me directly and let me know if you'd like me to hunt up a contact person for you at SpringCM.

Mike Underwood
Title: Director of Finance and Accoun
Company:
(Director of Finance and Accoun, ) |

Check with US Bank...they have an outsourcing model you may find interesting...the documents go to them and they key them for you and interface the output back into your ERP system.

Robert Israch
Title: Chief Marketing Officer
Company: Tipalti
LinkedIn Profile
(Chief Marketing Officer, Tipalti) |

You may want to consider expanding your scope of AP automation. Digitized invoice collection and processing is definitely a good best practice but only touches on streamlining the entire AP supplier payments workflow. Ideally your AP automation systems should also handle payee onboarding, W8 / W9 tax form collection / validation / withholding calc, global payment remittance, payment status communications, payment reconciliation, and 1099 / 1042 tax prep reporting with integration to your ERP system.

Rob

Nick Sinigaglia
Title: SVP
Company: OnDeck
(SVP, OnDeck) |

I believe Coupa recently made an acquisition that will bring OCR technology to their procure-to-pay solution. I'm in the process of implementing Coupa now and my team, so far, has positive feedback. Let me know if you'd like a contact there.

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