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Accounts Payable Plus

At Lightspeed we recognise that Accounts Payable departments (AP) utilise a great deal of resources, time, effort and money to run and maintain.

We don’t need to tell you that paper based AP systems can be a nightmare to control and a drain on your finances. What we can do though is introduce you to Alchemy Accounts Payable Plus (AP+) - designed to increase your efficiency and dramatically lower your costs.

We all know the limitations of a paper based AP system:

  • Processing supplier invoices is EXPENSIVE (£2 - £4 per invoice)
  • High resource cost – no income
  • Unstructured data – fax, post, e-mail
  • Non conforming formats
  • Data needs to be keyed into existing AP system
  • Matching AP invoices is a key business activity
  • 70% of incoming business mail is AP invoices

Which in turn leads to these well known problems:

  • Labour intensive work & high staff levels
  • Long process – can be weeks to pay an invoice
  • Poor data integrity – mistakes can be costly
  • Document storage issues
  • Financial issues – late/penalty payments/stops
  • Lack of control – missed/wrong payments

“Tell me something I don’t know”

If this is all too familiar to you, take a moment to investigate AP+ from Avanquest Solutions. This revolutionary software will transform the way you look at dealing with your AP - turning it from a necessary evil to a positive tool allowing you to manage and streamline your business.

So what will AP+ do for you?

  • Gives an automated end to end solution
  • Captures, manages, processes and retrieves
  • Integrates with existing AP systems
  • Is a system that ‘learns’
  • Gives you reduced costs and increased efficiency
  • Is a solution that will grow with you
  • Has a continually evolving supplier knowledge base


All very well but how does it work?

Cleverly, is the answer. Powerful but simple to use and set up, AP+ has a wealth of features:

  • Identifies the supplier
  • Imports existing image data
  • Extracts the required information
  • Updates your existing system – finance, accounts
  • Exports images with metadata
  • Handles other data – PO’s, POD’s, Consignment Notes
  • Delivers documents when and where needed
  • Has full audit capability
  • Matches invoices to PODs, POs and more

AP+ can also manage the approval process via a workflow module to completion or escalation, bringing reliable and cost effective management of your accounts payable operation.

Choices

Alchemy AP+ can be provided as a complete outsourced solution or supplied for In-house implementation. Either way, Lightspeed can advise you how to get the best out of AP+, enabling your business to get on with doing just that.

For more information on how we can cut you free of your Accounts Payable headaches, contact us today.