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.
Alchemy AP+ can be provided as a complete out-sourced 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.