AP Automation for SAP Business One
Get visibility into payables with a seamless invoice capture system, invoice processing and an automated approval workflow for both desktop and mobile devices. A complete accounts payable automation solution that leverages your investment in SAP.
Data is intuitively extracted from paper, scanned or emailed invoices. Paper is captured with 95%+ accuracy, electronic files with 100% accuracy.
Invoices are viewable in a central dashboard and automatically sent to users to review and approve. Invoices can be flagged at the header level or on line items. Once approved by the user, invoices are sent to SAP/SAP Business One.
Automated workflow to designated roles in the company. One-click approvals in email. Ad hoc routing without having to code. Have as many users as you want – no user license costs.
Intelligent 3 Way PO Matching
2 and 3 way matching of POs and/or goods receipts at the header or line level. Matched invoices are sent straight to SAP Business One. Exceptions are flagged and sent to approvers to reconcile.
Archive & Audit
Invoices, purchase orders, and goods receipts are archived in the Cloud for searching, reporting, and audit trail. Includes all documents plus electronic messages between employees and vendors/suppliers.
EchoVera AP Automation delivers a comprehensive solution that includes:
Intelligent Data Capture
- Using Artificial Intelligence and automation, data is intuitively extracted from both paper or emailed invoices
- Software instinctively learns invoice layouts and data fields and stores them in a database
- Paper is captured with 95%+ accuracy, electronic files are captured with 100% accuracy
- Purchase orders, supplier invoices, and goods receipts are automatically matched
- Exceptions are flagged and sent to approvers for one-click approval in email
- Provides an audit trail and ensures accuracy of data
- Internal or external purchase orders
- Repeated invoices are matched to account numbers or contracts, posted to the proper charge codes and approved for payment
- Reminders are sent when a contract is about to expire
- Expense can be split amongst different departments
- Invoices are gathered into a central dashboard, and automatically sent to managers to review and approve. Once approved, invoices are sent to SAP/SAP Business One
- Ability to flag invoices or line items and send them to business users for review and approval
- Automatic notifications and reminders
Archive & Audit
- Step-by-step documented history of invoice transactions, including communications between internal staff and suppliers
- Provides basis of objectivity for enquiries or investigations
- Complete searchable archive
Seamless bi-directional integration with SAP Business One
Miele – Cutting PROCESSING TIMES
“Before… invoices would be sent manually by mail to staff, but this led to delays and to documents being lost or mislaid. The solution’s automation and workflow capabilities have helped us to cut processing times by 75% while ensuring that all purchasing rules and policies are maintained.” – Uwe Duckart, Administration Manager • Miele
Canadian North – Appreciating VISIBILITY
“…our processes have been significantly streamlined and are now far more efficient. The biggest benefit we have gained …is transparency over accounts payable activity across the entire organization. We can see exactly where we are in terms of pending invoices, which is vital as we operate from three main offices which are located in different cities. With automated invoice processing, we also have much tighter control over operations and a greater ability to manage volumes of work.” – Jeff MacPherson, Financial Analyst • Canadian North Airlines
Landstar – Experiencing INCREASED EFFICIENCY
“Before… our invoicing system was labor-intensive and time consuming for staff. Automated processing has significantly increased our overall efficiency, shortened payment cycles and helped to improve the manageability of transactions.” – Emily Grantham, AP Supervisor • Landstar System Inc.
Selecta – Having REDUCED OVERDUE INTEREST
“From having masses of copies in binders behind my back, now everything’s right there in front of me in the system on my computer screen. And it’s easy to follow the invoice’s path to auhorization and payment. The ease of overseeing the invoice’s path has visibly reduced the number of overdue interest invoices for Selecta. Nothing falls between two stools any longer. If someone is on leave, invoices are automatically redirected as a fixed routine in the system. And those who check invoices feel a great sense of responsibility.” – Per Ekstedt, CFO • Selecta
Maximizing Efficiency with AP Automation for SAP Business One
Organizations are constantly seeking ways to streamline their operations and maximize efficiency. Manual invoice processing can be time-consuming, error-prone, and costly. By leveraging the power of automation technology, businesses streamline their AP processes, reduce costs, and improve accuracy.
Understanding AP Automation
AP automation refers to the use of technology to automate the various tasks involved in the AP process, such as invoice data capture, invoice validation, invoice approval and invoice approval workflow, PO matching and an audit trail with a searchable invoice archive in the cloud.
The Basics of AP Automation
At its core, AP automation involves the use of software that captures invoice data electronically, validates it against predefined rules, and routes it for approval. This eliminates the need for manual data entry, reduces the risk of errors, and speeds up the invoice approval process.
Invoices are scanned or electronically received and stored in a central database. The software then extracts key information from the invoices, such as vendor name, invoice number, and amount due. This information is automatically validated against predefined rules to ensure accuracy.
Once the invoice is validated, it is routed to the appropriate individuals within the organization for approval. The software can be configured to follow the organization’s specific approval hierarchy, ensuring that invoices are reviewed and approved by the appropriate individuals. This helps to streamline the approval process and eliminates bottlenecks.
Automated PO matching matches invoices to purchase orders and goods receipts. This allows for straight-through processing: a touchless process as invoices are matched to the other documents automatically. Exceptions are flagged with a workflow to the approver in order for them to reconcile.
The audit function provides a searchable invoice archive in the cloud. A complete invoice log with a time-stamped audit trail allows for fast and efficient internal and external investigations.
The Role of SAP Business One for AP Automation
Manual data entry is prone to errors, leading to payment delays and disputes with vendors. By automating the data entry process, businesses can eliminate errors and ensure that invoices are paid on time.
It also provides businesses with better visibility and control over their AP process. With automated workflows and real-time reporting, businesses can easily track the status of invoices, identify bottlenecks, and make informed decisions to optimize their AP operations.
Moreover, AP automation enables businesses to strengthen their relationships with vendors. By streamlining the invoice approval and payment process, businesses can ensure timely payments, which in turn fosters trust and goodwill with vendors.
AP Automation for SAP Business One enhances compliance and reduces the risk of fraud. With automated controls and audit trails, businesses can enforce compliance with internal policies and external regulations. This helps to mitigate the risk of fraudulent activities and ensures that the AP process is conducted in a transparent and accountable manner.
The Power of SAP Business One
SAP Business One is an integrated business management solution designed specifically for small and midsize enterprises (SMEs). It provides a comprehensive set of tools to streamline various business processes, including AP automation.
How SAP Business One Supports AP Automation
By leveraging the power of SAP Business One, businesses can easily integrate AP automation into their existing processes. The software provides a user-friendly interface that allows users to capture and validate invoices, route them for approval, and process payments.
With SAP Business One, businesses can automate the entire AP process, from invoice capture to payment processing. The software automatically extracts data from invoices, validates it against predefined rules, and routes it for approval. Once approved, the software can generate payment files and initiate payment processing, eliminating the need for manual intervention.
Integration of AP Automation with SAP Business One
To fully leverage the benefits of AP automation, businesses should integrate it with SAP Business One. Integration allows for seamless data exchange between the AP automation software and SAP Business One, ensuring that information flows smoothly across systems.
Integrating AP automation with SAP Business One involves several key steps:
- Assess needs: Understand the organization’s AP processes and identify areas that can be automated.
- Choose a vendor who has a proven integration: SAP Business One seamlessly integrates with EchoVera AP Automation. This includes data mappings, workflows, and security settings.
- Train users: Provide training to AP staff on how to use the AP automation software with SAP Business One.
- Monitor and fine-tune: Regularly monitor and fine-tune the process as needed to optimize performance.
Efficiency Gains from AP Automation in SAP Business One
Implementing AP automation in SAP Business One can result in significant efficiency gains for businesses. By streamlining the AP process, businesses can save time, reduce costs, and improve financial management.
Streamlining Business Processes
AP automation eliminates manual data entry and automates approval workflows, speeding up the overall AP process. This allows businesses to process invoices more quickly and efficiently, reducing the time and effort required by AP staff.
With AP automation, businesses can also reduce the risk of errors and duplicate payments. The software automatically validates invoice data against predefined rules, ensuring accuracy and reducing the need for manual intervention.
Enhancing Financial Management
SAP Business One integrates with the organization’s financial systems, providing real-time visibility into AP data. This allows businesses to track invoices, monitor payment status, and generate accurate financial reports.
By automating the AP process, businesses can also improve cash flow management. With faster invoice processing and payment approval, businesses can take advantage of early payment discounts and avoid late payment fees.
Ensuring Successful Implementation
To ensure a successful implementation of AP automation in SAP Business One, you should:
- Set clear objectives: Get clear on what tasks you want, or can automate.
- Involve key stakeholders: Engage key stakeholders, such as AP staff, in the implementation process. Their input and feedback will be invaluable in ensuring a successful rollout.
- Monitor and evaluate: Regularly monitor the performance of the AP automation solution and evaluate its impact on efficiency, accuracy, and cost savings. Make any necessary adjustments to optimize performance.
AP automation is a powerful tool for maximizing efficiency in organizations using SAP Business One. Click the button below to enter a date in our calendar for your free demo.
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EchoVera Inc. provides Intelligent Capture, AP Automation, and Purchase to Pay solutions to companies and organizations looking to reduce costs and increase the efficiency of their accounts payable operations. Customers worldwide.