Automated Invoice Processing in the Cloud - Monitor
  
  
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A solution that pays

Many studies have shown that it costs a company between US$7 and US$50 to pay a single invoice using manual processes. The same studies agree that invoice processing automation generally reduces that cost per invoice by 50%–80%.

Invoice Processing Automation - concept

  
Give your accounts payable department the gift of perfect SAP transaction data

When invoice transactions are created in SAP with correct information, accounts payable processes are efficient…but this is seldom the case. The steps leading up to posting are often fraught with labor-intensive and error-prone manual tasks.

Working inside SAP, ReadSoft’s invoice processing software is the market leading, SAP-certified solution to provide a start-to-finish workflow for automated invoice approval that communicates with SAP master data, the purchase order, and the goods received database – before the invoice is ever posted. Featuring configurable, ready-to-use functionalities, the solution is designed with built-in best practices based on more than a decade of experience in the accounts payable automation field within SAP.

Key features and benefits

  • Automatic posting for straight through processing
  • Personalized, single point of entry for accessing all AP information
  • Automated validation against SAP data    
  • Invoice Processing for SAP - Check BoxesAutomated posting of incoming invoices
  • Constant visibility of invoice processing status     
  • Audit trail of all processes to ensure legislative compliance (such as SOX) 
  • Works seamlessly with SAP systems, using standard SAP user interfaces 
  • Reduce AP costs by up to 80% 
  • Reduce invoice processing time   
  • Eliminate late fees and incorrectly paid invoices 
  • Take advantage of supplier discounts for on-time payments 
  • Assess cash flow more accurately  

Accounts payable automation:
a revealing process for all parties involved 

Automating invoice processing not only impacts your bottom line through time and labor savings, it sheds light on up-to-the-minute invoice status that suppliers, AP staff, and financial departments alike will celebrate.  

Process change with promising implications for the future 

You’ve already made the investment in an SAP system. Automating invoice processing will make that investment even more cost-effective. By reducing the invoice-receipt-to-posting window and providing SAP with validated, complete invoice information, you set the stage for continuous gains in AP efficiency.

Here’s how it works

SAP Invoice Processing Flow
SAP Invoice Processing - Invoice Capture

Invoice capture

  • Paper invoices are scanned to create digital files. E-invoices are immediately
    ready for interpretation.
  • EDI invoices are routed directly to Validation.
  • ReadSoft’s capture technology reads and interprets all invoice files, regardless of format.
SAP Invoice Processing - Validation

Validation

  • Captured information is automatically matched and validated against the SAP vendor master data, purchase order, and goods receipt entry.
  • Invoices with 100% matches are posted in SAP immediately, with no manual interaction.
SAP Invoice Processing - Resolution Workflow

Resolution workflow

  • Unresolved PO-based invoices are automatically sent into a workflow for discrepancy handling.
  • Non-purchase-order invoices are auto-routed for coding, approval, and posting.
  • Approvals are gained in a transparent, documented process that meets
    business requirements.
  • An image of the invoice and real-time overview of the workflow are always available.
  • Once approved, invoices are automatically posted.
SAP Invoice Processing - Information Access

Information access

  • Invoice images can be retrieved from the archive system at any time.
  • For research purposes invoices can be easily retrieved using business-determined search criteria.
  • Vendor portal communication tool and automatic email notification system inform vendors of the status of their invoices.
  • Reporting tool manages, analyzes, and measures the entire AP process, improving metrics and providing a valuable tool for identifying and eliminating bottlenecks and planning resource needs.

This is how other companies have used our solutions

  
SAP Invoice Processing - Schneider - Reference case

Schneider’s AP productivity rises 300% with ReadSoft

Does your company use SAP? Would you like to know how your company could triple its productivity within the accounts payable department? This case tells how global energy specialist Schneider Electric managed just that.

Reference case
 
  

PDF - Reference Icon

ReadSoft makes AP ‘cool’ says Aramco Services Co.

Aramco Services Company, the US subsidiary of an international oil giant, has automated its invoice processing in SAP with ReadSoft. They are so happy about their new process they even say ReadSoft is a "cool product".

Reference case
  

PDF - Reference Icon

Capita cuts over 70% off the cost of processing an invoice

Find out how British business process outsourcing (BPO) company Capita managed to cut more than 70 per cent off the cost of processing an invoice.

Reference case
  

Rhodia Group goes close to doubling invoice input rate

Rhodia Group is a specialty chemicals giant that has managed to double its invoice input rate with the help of a ReadSoft solution. With over 700,000 invoices processed annually, it has meant huge benefits.

Reference case
  

Reference cases for all solutions and industries can be found here.

Learn more about invoice processing in SAP

  
SAP Invoice Processing - 'Ready to use' AP Automation in SAP - White paper

How “Ready-to-Use” Accounts Payable Automation in SAP Can Deliver Best Practice Processing Status

As imaging and workflow automation are moving into the mainstream of AP best practices, this report serves to answer the resounding question asked by organizational management of how to go about automating.

White paper - Please register to download
 
 

PDF Brochure Icon

Automating accounts payable in SAP with a best practices solution

ReadSoft’s SAP-certified best practices solution fully automates the accounts payable process chain in SAP, from invoice receipt to posting, and including intensive reporting. Benefits include improved control, reduced costs, and enhanced business intelligence. The solution is based on more than a decade of experience in the accounts payable automation field within SAP environments.

Brochure
 

PDF Article Icon

AP Process Automation in SAP

Rowland Archer of ReadSoft’s ERP Automation Lab discusses key features of accounts payable process automation in SAP and explains three valuable benefits it brings to customers.

Article
  
PDF Article Icon

One untapped potential of SAP systems – Accounts Payable automation

When investing in solutions to help achieve long-term success, many organizations turn to accounts payable automation. It’s where document process automation can add to a company’s bottom line from day one through immediate savings in time and money.

Article
   
PDF Article Icon

PayStream Advisors: Automation Solutions for SAP:
Solutions for Touch-less Accounts Payable

This PayStream Advisors report focuses on SAP-specific e-Payables solutions, including invoice automation and payments, which leverage SAP capabilities and have seamless integration with SAP. It highlights the merits and advantages of solutions that work within SAP as well as those solutions that sit outside SAP.

Report
 

Please visit our Resource Library to find out more - here you will find all our brochures, articles, white papers, fact sheets, reports, and other material.