InvoiceER automates your Accounts Payable processes, it takes care of entering all your invoices – scanning, reading and scribing data from every source. And it does this fast. We can input over 180 invoices per hour, to an accuracy level of 99.8%. The system is trained to recognise over 30 potential errors – from missing addresses to incomplete VAT Numbers – and flags concerns directly to the supplier for correction. All without you having to lift a finger – giving you time to focus on more important things.
Azets Document Solutions has not only increased the efficiency of our AP processes but has also enabled us to reduce our operational costs by more than 40% compared with our previous supplier.Euro Car Parts Get in touch today
InvoiceER is a Document Management Repository which is hosted by Azets Document Solutions and provides users with an intervention portal for fixing data issues and correcting data capture issues caused by validation uncertainties and unreadable fields. It also enables invoices to be returned to the supplier for correction/replacement.
Suppliers are instructed to send all invoices to a dedicated PO Box and Email address.
The data is sorted and exceptions sorted into the various queues.
The point of InvoiceER is to remedy issues at the origination point.
With InvoiceER, only clean data makes its way into your finance system.
InvoiceER is dependent on receiving Master Data from the client (usually every night). This will always include the Master Vendor (supplier) data because all finance systems require the Vendor Account Code to be used and these are almost never contained on the invoice.
The master data is used by both our Capture platform and the InvoiceER system.
Using the capture fields in a cascading manner (use VAT first, then VAT and Post Code together etc.) our capture platform attempts to find a UNIQUE matching record in the Master Vendor data. Once it has found a unique match, it imports the Vendor Account Code and the invoice is successfully matched to the correct supplier account.
When the cascading match fails to find a unique (or any match at all), the invoice is flagged as MISSING VENDOR and is then placed in the Unidentified Supplier queue on InvoiceER. The client user can review the image and allocate the correct vendor account via InvoiceER or create a new account and/or delete duplicate accounts in their Finance System. When they do this, the invoice remains on InvoiceER until the Vendor Master Data is updated and then the invoice matching process is attempted again. This means that no invoice data can enter the clients Finance system without a correct vendor account number.
Azets Document Solutions provide modular solutions that work with and enhance your existing finance and admin systems. Our team will manage the whole process: Starting with a discovery workshop to identify any issues, through to recommending and delivering best of breed digital solutions to improve, automate and maximise efficiencies in your business.