While there are plenty of AP invoice automation solutions within your reach, why not dream a little bigger? Imagine next year with not just an AP solution but a comprehensive procure-to-pay suite that both increases efficiency and reins in spend. Imagine a unified solution for eProcurement, vendor contract management, AP invoice automation and expense reporting.
Faster AP Invoice Processing
Most likely, the promise of greater AP efficiency led you down the road of evaluating accounts payable software. The vehicle for getting AP to a sunnier state is a solution that eliminates as many manual touch-points in the process as possible. For instance, Ariett Purchase and Expense includes a cloud document management service, Box4Dox, which automatically receives the invoice, populating and generating the transaction within minutes. To get the payment rolling, a vendor simply emails an invoice to the Ariett Box4Dox Invoice Service. Once the employee clicks “submit,” the approver(s) is notified for quick, easy approval. By speeding up invoice processing and approval, Ariett Software pushes the productivity in your AP department to a new level.
Better Spend Management with Ariett Vendor Contract
But why stop once you’ve gained AP efficiency? Imagine the savings and control your organization could achieve with a complete AP invoice and procurement solution that also offers vendor contract management. Deploying such a solution will lead to more managed spend: pre-approved spending at the appropriate price and with the appropriate vendors.
Ariett’s procurement solution with vendor contract management can help your organization to maximize managed spend. Our new Vendor Contract feature works seamlessly with procurement by allowing users to first enter and approve contracts and then track all contract-related costs. For example, if your organization has a high value contract, your employees can requisition items against that contract to track performance and budget. Instead of being handed an invoice after the fact, approvers can review the requisition amount, vendor and contract budget before approving the purchase. At any time, contract managers can view the status of the contract and all associated purchase commitments, allowing them to effectively manage projects with large dollar amounts.
Greater Transparency about Financial Data
With a complete solution for AP invoice automation and procurement, key stakeholders in your company gain visibility to a great breadth of documents, including invoices, purchase orders, requisitions and contracts. Access to such information can make a big difference in identifying any errors and acquiring control over the purchasing process. Ariett Software’s 3-way match of purchase order to receipt to invoice can catch discrepancies between documents. To resolve an issue, a manager can review the documents before contacting the original approver or the vendor.
In addition, by having one, cost-effective solution for both procurement and AP invoice automation, CFOs and managers can quickly generate reports to analyze spending. To determine whether a particular department is spending more or whether a vendor is charging too much, you can simply run one of Ariett’s out-of-the-box reports. Based on the report, steps can then be taken to cut back on department spending or to select more affordable vendors in the future.
Now that you know about the benefits of procure-to-pay software, it’s time to pursue your AP dreams for the future. Interested in learning more about AP invoice automation and procurement that also includes vendor contract management? Join one of our live product demonstrations.
By Ariett
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