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Accounts Payable Automation

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Manual invoice processing is inefficient and error prone, putting you at risk of lost invoices, late payments, strained vendor relationships, and other unnecessary problems. This is where accounts payable automation comes into play.

With the right AP automation solution, you can streamline invoice processing – from invoice receipt through routing to the appropriate members of your team.

The Benefits of Invoice Processing Automation

Process Invoices Faster

Reduce invoice processing time from receipt to payment from 45 days to only 5 days with workflow automation and business process outsourcing services. Robotic process automation (RPA) can further reduce processing time to just hours.

Improve Data Accuracy

With invoice processing automation, you can increase data entry accuracy to 99% and stop wasting valuable time fixing issues.

Lower Invoice Processing Costs

Reduce your processing costs from the average $15 per invoice to $3 or less using an automated system that requires little-to-no manual labor. AP clerks can be repurposed to AR, customer service, sales, and other roles.

Gain Real-Time Insight into Cash Flow

Make better-informed decisions with real-time access to AP information, such as invoice aging, cash flow, and productivity.

Access Invoices Remotely

Employees can access scanned invoices from anywhere, enabling remote work. Our digital mailroom solution with cloud document management ensures your workflows are continuous.

Avoid Late Fees

If your team is backlogged, you could be charged late fees and lose out on early payment discounts. By outsourcing this task to experts, invoice review and approval becomes streamlined, making late payments and missed discounts a thing of the past.

Reclaim Office Space

If you add up the file and storage cabinets across your entire workspace, it’s a significant amount of square footage that could be repurposed. Scanning and storing these documents on cloud document management software can free up physical storage space and make it easier for your employees to quickly access files.

Ensure Business Continuity

By digitizing your invoices, you ensure they remain safe during crises, such as natural disasters, and enable your employees to continue working from anywhere.

Finding the Right AP Automation Solution for Your Organization

MetaSource understands that every organization is different, and every AP department has different needs. That’s why we offer multiple accounts payable automation solutions.

Outsourced Solution

If you want to achieve a truly touchless invoice process, our outsourced AP solution is for you. We handle the entire process, leveraging our advanced digital mailroom, data capture technology, and unmatched experience. As a SOC 2 Type 2, HIPAA, and PCI-DSS compliant company, our processes are audited annually by a third party, ensuring service quality and invoice security.

Here’s how it works:

  1. Receipt: Your emailed invoices are sent to an automated inbox managed by MetaSource. Any physical invoices that you receive are picked up from your office or sent directly to a P.O. box where our experts will pick them up.
  2. Preparation and Scanning: Your incoming paper invoices are opened and prepared to be digitized. Documents are scanned on high-speed, high-volume production scanners.
  3. Processing: Invoices received via email, whether they’re an attachment or included in the email body, are stripped from email messages, separated into individual files if necessary, and converted into the right file format for processing.
  4. Data Capture: Your invoices are indexed, and data is captured and validated.
  5. Zero-Touch Processing: The invoices undergo automated 2-way or 3-way matching. Afterward, they are loaded directly into our AP automation platform or your enterprise resource planning (ERP) system for approval and payment.

We can integrate with several systems, including:

  • Oracle PeopleSoft
  • SAP
  • Microsoft Dynamics GP, AX, SL and NAV
  • NetSuite
  • QuickBooks
  • Sage MAS 90, 100, 500 and X3

In-House Solution

Want to maintain more control over your data while still reducing manual tasks and streamlining the AP process? Then, our in-house solution is your best option.

You receive advanced technology to help your accounts payable team handle invoice processing more efficiently on its own. You can empower your team by providing them with the software they need to reduce data entry and the errors that accompany it.

Ready to Automate Your Accounts Payable Process?

Choose a partner with the technology and expertise required to succeed. MetaSource has over 30 years of experience and is a SOC 2 Type 2, HIPAA, and PCI-DSS compliant company. We’ve helped several clients in a variety of industries streamline invoice processing:

Denihan Hospitality Group

With outcomes like improved expense reporting and simplified audit preparation, the organization’s AP process is now streamlined.

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EōS Fitness

The company achieved $120,000 in savings during the first year by eliminating stop-payment fees and capturing early payment discounts. AP department productivity increased by 25%.

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Major Medical Center

Over 30,000 invoices are processed monthly with 99% data entry accuracy. Not to mention, the medical center reduced time-to-pay to just 24-48 hours.

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Ivory Homes

AP clerks went from data entry to data validation, cutting down the process from 21 days to just 3.

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Download Your Step-by-Step Guide to Invoice Processing Automation

What Our AP Automation Clients Are Saying

MetaSource’s AP automation solution has made our budgeting manager much smarter at his job. He has the tools he’s always wanted, and we’ve saved so much money.

Ivory Homes

We stopped the collection calls, and now we’re even pursuing discounted terms from our vendors. That’s all based on our new ability to pay on time, even with all of our new addresses and vendors. Based solely on those discounts, we estimate to save $70,000 in our first year.

EōS Fitness

Having a paperless system reduces stress, frustration and cost in any environment, but particularly where you need to have employees work both efficiently and effectively, in a timely fashion.

Visiting Nurse Service of New York

When we get a call from the client, it’s not just the pleasure of solving their issue then and there (they expect it to take a few days), but we don’t have to hang up the phone and have a whole series of tasks we have to do, saving each employee 15-20 minutes per request at least a few times a day, across our client-facing employees.

TitleVest

In my experience, the hospitality industry can lag behind with technology because the focus is on the front of the house and service. We had already gone paperless on the back-end of the accounts payable process but we were looking to be more efficient on the front-end. We were looking for AP workflow automation, and MetaSource came through for us.

Denihan Hospitality Group

Contact us to learn more about AP automation

Who We Serve

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How Happy Are You With Your Digital Transformation Process?

Digital transformation is the change associated with the application of digital technology, but it’s also a process that can look different for every organization, and for every department. The purpose of this whitepaper is to shed light on simple ways to ensure that your path to digital transformation is cost-effective, scalable and achieved at the right pace for your organization.

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