Does one size fit all accounts payable shops? Does everyone process accounts payable documents the same way? Advanced Capture Team (ACT) recognizes the needs of our clients vary tremendously and have chosen intelligent solutions to accommodate the different requirements and project objectives of our clients.
There are many factors that lead a company in one direction or the other in their selection process for an EIPP solution. ACT specializes in working with our clients to determine the best solution fit for our individual customer’s environment. Based on customer feedback, we have derived the following factors which have assisted our clients in selecting the best solution:
- The relative size of a company and invoice volume has a significant impact on project requirements. Typically, we see larger companies utilizing an in-house best of breed solution to provide the most robust and integrated solution available. Smaller companies with lower invoice volumes typically benefit from a solution that is quickly implemented at a lower cost, and flexible in its functionality. In today’s market, this usually leads to selecting an ASP or SaaS based solution.
- Availability of in-house IT resources has a major impact on the type of solution a company will choose. Companies with small and overburdened IT staff have found that ASP or SaaS solutions can be implemented with minimal IT involvement. Organizations with available IT resources are more likely to implement and take ownership of an in-house invoice automation solution.
- Budget availability is a significant driver in selecting the right type of solution in today’s market place. In-house solutions have capital outlay requirements, and SaaS options have a recurring pricing model that is typically accounted for in an overhead or operating budget.
- Typically a large company has demanding or custom requirements that are driven by complex process that require tight ERP integration where in-house solutions typically provide the most effective results.
- Existing technology investments & infrastructure play a very important role in the selection process. Organizations that have made significant investments in ERP based workflows may want to continue to leverage their investment in that technology as extensively as possible.
- Requirements for similar functionality in other departments should also be considered during the selection process.
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Advanced Capture offers two best of breed solutions for in-house implementation.
Basware Invoice Processing is a complete electronic invoice processing solution that eliminates the need to manually process invoices. This solution supports electronic workflow, revision, cost allocation and approval of invoices as well as transfer to an organization’s ERP or financial system. With its versatile reporting, this solution provides complete access and display for all invoice information, as well as a spend analysis.
The process starts by automatic matching of invoices to purchase orders, contracts or other pre-defined payment schedules. Invoices that do not match will automatically be coded and sent to the right person for review and approval. Basware multi-level workflow makes sure that the invoices are handled according to your company’s policies. Powerful business-rules management can also be used to streamline and develop the invoice handling process.
The Basware solution also includes a state-of-the-art repository of metrics for the Purchase-to-Pay process. This repository contains over 100 key performance indicators (KPIs) with calculation models. Customers can select the most suitable model based on strategy and goals. Each KPI model covers the three essential parts of the Purchase-to-Pay process: procurement, accounts payable and travel and expense. Note that the Basware KPI Reporting Tool is developed with the support of the Hackett Group, world leaders in benchmarking and best practice advisory.
OnBase is a full scale Enterprise Content Management Solution (ECM) that can be utilized across an organization in all departments that have a need or requirement for workflow and document imaging. OnBase offers an AP Solution that can provide much of the functionality required to automate the invoice process, but does not offer the depth of AP specific functionality that best of breed invoice automation solutions provide.
With an end-to-end OnBase Accounts Payable (AP) Solution, organizations can streamline and simplify their AP processes. By converting paper documents into digital content at the point of arrival, the entire lifecycle of the document is managed in OnBase.
With a strong record of accomplishments in AP departments, OnBase has helped organizations of all sizes and industries build a comprehensive AP solution that serves as a platform for increasing operational efficiency and accountability enterprise-wide. Because OnBase can integrate with virtually any line-of-business or ERP application, existing software investments are not replaced, but simply enhanced. Utilizing modules such as Document Imaging and Workflow gives AP departments’ maximum efficiency with processes that are contained within a central repository and automatically routed through review and approval procedures.
ASP Offering
Advanced Capture and Basware have partnered with Consonus, one of the leading managed service hosting providers in the country. This enables Advanced Capture to offer the Basware Invoice Automation solution in a completely hosted environment. This would alleviate the need for any internal staff or infrastructure to manage and support the Basware solution.
Software as a Service (SaaS)
AvidXchange provides a web-based, paperless accounts payable solution that combines easy-to-use software with fanatical customer service to give our customers rock-solid accounts payable automation for the 21st century.
In conclusion, The Advanced Capture Team brings 50+ years of experience implementing invoice automation solutions to bear, coupled with flexible, industry leading solutions to provide the best solution for companies of all shapes and sizes. We are committed to spending the upfront time with each of our customers in order to learn about their requirements and make educated recommendations to our clients to provide a solution that will fit into their environment easily and effectively while providing the most rapid Return on Investment possible.
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