Accounts Payable Automation

Accounts payable automation systems (or AP automation systems) are slowly becoming standard among effective and cost-conscious organizations around the world. By using a software system for accounts payable automation, companies shorten their payment cycles, cut down on AP-related costs, and increase control over the AP-cycle.

Go green with accounts payable automation systems

An accounts payable automation systems will not only reduce costs and payment cycles, it will also spare the environment by using less paper and transports.

Accounts payable automation - How it works

By scanning your incoming invoices, a digital image is created. From this, the software ReadSoft DOCUMENTS for Invoices extracts information.

Paper invoices are scanned and turned into a digital image. From this image, the AP system can automatically extract information. If it is an electronic invoice, it is directly imported into the system.

The accounts payable automation system thereafter matches the extracted information against a purchase order. If there is a complete match between the purchase order and the invoice, it is posted for payment automatically. If no purchase order exists, it is routed to the correct person in a cost allocation cycle.

After the correct information has been extracted, the system interacts with financial systems such as SAP and Oracle and compares invoice numbers, goods received, purchase ledger, etc.

With an accounts payable automation system, you can follow the whole accounts payable cycle, giving you full control over costs, bottlenecks, or other problems that may occur. This will provide you with a complete audit trail to support compliance with legislation such as the Sarbanes Oxley act (SOX.)

The level of Accounts Payable Automation is defined by the user. At the highest level of Accounts Payable Automation, no one even has to see the invoice after scanning. The accounting process (information extraction, verification against business systems and approval) can be fully automatic.

The benefits of implementing an Accounts payable automation system

• Accounts payable automation systems are more cost effective than manual handling.

• Accounts payable automation is faster than manual handling.

• An accounts payable automation system gives your AP staff time to focus on more productive tasks.

• Accounts payable automation gives you better control over your AP cycle.

• Accounts payable automation systems enable you to take advantage of early payment discounts and avoid late payment penalties.

Accounts Payable Automation will give you better control over your accounting process. It will also make it faster and less expensive.

The software ReadSoft DOCUMENTS for Invoices will automatically extract information from your incoming invoices and validate it against your financial system

Accounts Payable Automation means faster invoice processing, using less staff. Since you will have a fully electronic accounting procedure, Accounts Payable Automation brings you better control and less human errors.

The major player in Accounts Payable Automation

With some 1500 customers all over the world, ReadSoft is the largest supplier of software for Accounts Payable Automation. Millions of invoices are processed every year with the award-winning software ReadSoft DOCUMENTS for Invoices.

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Invoice Processing for SAP

Invoice processing for SAP

SAP invoice processing has been one of ReadSoft's expertise areas since 2001 when ReadSoft was the first SAP invoice processing company to become certified for invoice processing into the mySAP ERP business suite (then called R/3). Today, ReadSoft has more mySAP invoice processing customers than the rest of the market combined.

SAP invoice processing - how it works

SAP invoice processing begins with scanning an invoice or receiving it in electronic format. ReadSoft's SAP invoice processing software thereafter extracts information from the invoice and automatically matches this information against a purchase order in the mySAP ERP financials business suite.

If the invoice matches the purchase order in mySAP ERP, the invoice can be automatically posted for payment. If there are any errors on the invoice, or if it is a general expense invoice, it is routed to the correct person in the financials department for allocation and approval.

SAP invoice processing should be handled inside the mySAP ERP environment

ReadSoft's software for SAP invoice processing is fully integrated with mySAP ERP and financials clerks can work inside their familiar mySAP ERP suite environment.

The benefits of automating SAP invoice processing

• SAP invoice processing will become faster when using software to extract and match invoice information against the mySAP ERP financials suite.

• SAP invoice processing become automated enabling financials staff to focus on more rewarding tasks.

• SAP invoice processing will be more precise and better controlled with an automated process.

• SAP invoice processing will comply with legislation such as SOX, since you will have a complete audit trail.

ReadSoft's Invoice processing software runs inside your SAP system using your standard setups and configurations. The integration is fully endorsed and approved by SAP.

The most widely used software for invoice processing for SAP

ReadSoft DOCUMENTS for Invoices is the most widely used software for invoice processing in SAP in the world. ReadSoft Customers include Sony, Porsche, ThyssenKrupp, Siemens, BP, Lockheed Martin and hundreds more..
Getting your invoices into the SAP system
There is a reason why SAP is one of the most widely used business systems in the world. When it comes to handling logistics, financial flows and other business critical information, there are simply very few systems that measure up to SAP. However efficient your SAP system may be, one bottleneck still remains - getting your invoices into the system.

This invoice processing is often painstakingly manual, involving an excessive number of staff who key in information by hand instead of high speed scanning, automated ocr technology and automated invoice processing.

SAP Certified Partner

ReadSoft has been a SAP Certified Partner since 2001, and was the first invoice processing company to receive this certification.

INVOICE COCKPIT and WEB CYCLE SAP integrated invoice processing software are "SAP-certified integrations," the highest level of SAP-certification, and they are also "Powered by SAP Netweaver."

Solid SAP expertise

With hundreds of SAP invoice processing installations around the world, ReadSoft has more SAP invoice processing expertise and experience than the rest of the market combined. Indeed, many of ReadSoft's invoice processing technicians and project managers have a background in core development of SAP.

ReadSoft Invoice Processing Software

ReadSoft DOCUMENTS for Invoices automatically verifies information about vendors, orders, goods received, etc., against your SAP business system.

At the ultimate level of the automation of invoice processing into SAP, the invoice is automatically scanned and posted to your Accounts Payable. Your staff doesn't even have to see the invoice.

The SAP integrated invoice processing system automatically scans captures, interprets and understands information from incoming invoices using state of the art OCR technology. Once data has been scanned and captured, it is automatically matched against purchase orders in SAP.

You can also add a complete Invoice processing workflow, accessible either via SAP or a web interface.

Other SAP functionality for invoice processing into SAP includes extensive monitoring and the ability to let suppliers see where their invoices are in the Invoice processing workflow.

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