Despite advances in electronic invoicing and EDI, accounts payable (AP) departments across the country still have to process high
volumes of inbound paper invoices and correspondence.
Processing paper invoices requires manual, error-prone labor as well as physical storage space needed to be archive them for 7 years. Search and retrieval is a pain on a good day, having to pour through filing cabinets, or is even worse if you need to pull them from offsite storage.
This leads to lost invoices, inefficiency, late payments, and unnecessary risk.
The AP Solution
MetaSource can help you streamline and automate invoice processing with our mailroom document scanning service and workflow automation software. Our complete AP solution will help you:
Cut down manual invoice processing by up to 90%
Reclaim office space
Eliminate offsite document storage
Provide management visibility into invoice aging, cash flow and AP productivity
Capture early payment discounts and avoid late payment penalties
Avoid losing legacy invoices because of a flood, fire or worse
Customized Document Scanning Services
We begin by scanning all of your incoming paper invoices. While you can send them to us, the most efficient and cost-effective practice is for us to serve as your mailroom/PO box and have all of your paper invoices sent to us. We will then prep, scan, extract, and validate information from all incoming invoices on the same day they are received. Say goodbye to data entry and manually routing paper.
We can also scan your invoice backfile so legacy invoices are instantly retrievable and automatically purged once their retention schedule has expired.
Workflow Automation Software
Workflow automation software further streamlines invoice processing by automatically routing invoices for approval from mobile devices, the web and in the office.
Workflow also helps manage the exception process when there is a problem with an invoice and ensures that all the necessary documentation is captured and available.
ERP & Accounting Software Integration
We integrate workflow automation and document management software with your enterprise resource planning (ERP) or accounting software so that you can search and retrieve invoices directly from the following software:
Microsoft Dynamics GP, AX, SL & NAV
Sage MAS 90, 100, 500 & X3
Many other systems
This integration makes 3-way matching possible so that you can match up the purchase order with the proof of delivery (POD) or receipt with the invoice.
Whitepaper: Leveraging Better Data & Process Management for Success In Mortgage Servicing Transfers
Regulatory risk around servicing transfers continues to be a hurdle for enticing investors to engage in the market. This is largely dependent upon lenders’ ability to ensure the quality of the assets being traded. The best strategy for taking the risk out of servicing transfers from a regulatory standpoint and verifying the soundness of underlying assets is through enhanced data and process management.