Accounts Payable Processing

Business Challenges

Industry analysts agree that without a well-coordinated approach to managing your Accounts Payable, organizations are wasting a significant amount of time and money. Poor visibility into the invoice lifecycle can result in lost opportunities for discounts, unnecessary purchasing, and unmet business needs. More than ever, companies are looking for best practices and solutions that enable them to manage business processes with the highest level of integrity and regulatory compliance.

As organizations look to drive down costs and improve efficiency, time-consuming manual processes are an ideal place to start. Accounts payable processes are most often distributed in nature, require approval on many levels, and generate huge volumes of paper and electronic documents that are difficult to manage effectively. Companies need to streamline their Accounts Payable processes in order to reduce operational costs, comply with regulatory requirements, and improve customer and vendor relations.

Solution Overview
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Managing the invoice lifecycle. Prodagio A/P enhances the effectiveness and efficiency of financial operations and controls. Prodagio A/P provides full lifecycle management of invoices from receipt to payment through a role-based, user-friendly interface.

Entry Channel Intelligence. Prodagio A/P’s entry channel intelligence acquires invoices in any format including paper, EDI, fax, e-Invoice, and spreadsheets. In addition, Prodagio A/P validates critical invoice information, reducing time spent on initial invoice analysis.

Maximizing processing efficiency. Prodagio A/P is developed for deployment across multiple core business processes that may span multiple geographic locations and foreign currencies. The design point of the system maximizes efficiencies related to electronic invoice processing while reducing the time required for administering invoice management and approval tasks.

Visibility into the invoice lifecycle. Robust tracking and searching capabilities assure immediate access to invoices no matter where they are within the process. In addition, critical information about the invoice is immediately available, enabling the organization to make key decisions promptly.

Flexible business rules. Configurable business rules enable efficient management of an organization’s entire business process by connecting all enterprise systems. Through automatic routing and management of invoices and their supporting documents, Prodagio A/P helps businesses expand the corporate environment to anyone virtually anywhere, streamlining work steps and improving communication among all users.

Integration with your ERP systems. Prodagio A/P delivers integrations with leading ERP and Purchasing systems—including SAP, Oracle, JD Edwards and PeopleSoft—enabling significant improvements in response times, elimination of time-consuming duplicate data entry, increased processing efficiencies and enhanced levels of service.

Robust reporting. Make informed decisions through a better understanding of where problems exist in the invoice process. Prodagio A/P offers an extensive library of financial and statistical reports that provide an up-to-the minute view into an organization’s A/P operations.

Enforcing compliance. Prodagio A/P's robust audit trail and hierarchical approval process minimize risk and simplify compliance with regulatory legislation such as Sarbanes-Oxley.

Vendor self-service. Vendors can easily self-submit invoices and view status updates 24 hours a day, reducing the operational costs associated with redundant phone calls to the A/P department.

Key Benefits

• Increases visibility into invoice lifecycle
• Automates inefficient manual processes
• Manages rebates, discounts, credits, and duplicate invoices
• Provides an audit trail for Accounts Payable
• Supports the unique business process requirements of the organization
• Integrates with your existing ERP system and streamlines data entry
• Enables quick search and retrieval of invoices
• Enforces company standards and Sarbanes-Oxley compliance
• Supports multiple geographic locations and foreign currencies
• Offers robust reporting capabilities