News

05 Apr 2022 Colin Graf

Kofax AP Essentials, Formerly ReadSoft Online, Version 10.4 Now Available

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The next evolution of Kofax AP Essentials, formerly known as ReadSoft Online, is now available with enhanced document intelligence, workflow, and integration capabilities that further solve accounts payable challenges for a wide variety of organizations.

In short, AP Essentials 10.4 lives up to its new name; automation is essential to efficient invoice processing and managing both cash flow and vendor relationships more effectively.

New Features for More Efficient AP Processes

The latest features include new purchase order (PO) processing functionalities, additional language support, upgraded ERP integrations, and so much more. Here’s a full list of the enhancements:

Document Intelligence

  • Ability to capture, verify, and validate PO data
  • New language support: Indonesia, Singapore, and the Philippines
  • Flexibility for online learning functionality with locking documents and individual privileges
  • Ability to copy PO order lines over to invoice lines

AP Workflow Enhancements

  • Ability to correctly re-process a document if it is processed with the wrong import country
  • Ability to configure fields to allow for an empty value instead of defaulting to zero (tax vs. no tax)

Ecosystem and ERP Integration

  • Updated CoupaLink certification
  • Updated Oracle NetSuite certification

More

  • Enhanced SOC 2 Type 2 attestation
  • Support for multi-tenant single sign-on for Azure AD
  • Ability to assign new users to workflows on the fly
  • New user interface rebranding to AP Essentials

An Edition for Every Organization

AP Essentials is available in three editions to meet the needs of organizations of all sizes. The basic edition includes extraction rates as high as 95% and seamless integration with popular ERP systems. It is also self-learning, which means that the cloud-based system improves in speed and precision the more you use it. Not to mention, the basic edition comes with prebuilt dashboards that provide you with the visibility into invoice activity you need to identify issues early on in the process.

If you want to take the solution to another level, you can opt for the premium edition, which includes all of the basic edition features and then some. This advanced edition comes with additional features like two-way and three-way matching, and order line pairing that validates sums and tax amounts as well as matches invoices to purchase orders. The premium edition also offers line-item data capture that recognizes data regardless of line length, line spacing, and invoice length.

The third and final option is the enterprise edition, which delivers even more valuable features. It comes equipped with approval and exception workflows that are triggered based on invoice data. This edition even offers general ledger (GL) coding and guidance selecting GL codes based on past usage and context.

The Benefits That Make This Solution Your Solution

With all these impressive features come impressive benefits such as:

  • Improved invoice cycle time
  • Reduced costs for manual data entry and verification
  • Increased productivity with 24/7 access to the cloud
  • Fast implementation that doesn’t require any hardware or software investments
  • No time-consuming maintenance, upgrades, or updates
  • Increased liability and cash flow visibility
  • Improved supplier relationships due to faster payments
  • Eliminated late payments and increased early payment discounts

Now, you can put an end to inefficient, manual AP tasks, data entry errors, lack of control over invoice processing, and time-consuming, costly IT involvement, while reaping all the benefits above with Kofax AP Essentials 10.4.

Automate & Streamline AP Invoice Processing Today

Interested in automating and streamlining AP invoice processing? Check out the product data sheet to gain more information or contact MetaSource to speak with an AP automation expert today. As a provider who’s been named Kofax’s Maintenance Partner of the Year numerous times, we have the experience and expertise to help you discover how much impact and ROI Kofax AP Essentials can achieve for your organization.

Contact us to learn more about streamlining invoice processing