Can anyone who is currently using A/P Automation software provide comments (good and bad) as to their experience with their particular software? By A/P Automation, I mean software to scan invoices, using OCR or ICR to capture data, and process invoices using rules-based controls, electronic workflow, and interface to ERP system for payment. We are looking to implement a solution in a large ($multiBillion) privately held company, and are currently in discussions with several software providers. The sales guys all claim significant improvements in efficiency but I want to get an idea of the real experiences from people who have gone down that path. Thanks! :-)
A/P Automation
Answers
Hi, Dipak. We have worked with our document
We have successfully implemented this software and workflow with our accounting customers on Intacct and our functional team reports reduced processing times as a result of this innovation.
I don't know what OCR software SpringCM is using, but I'm sure if you contact them they'd be glad to speak with you. Please contact me directly and let me know if you'd like me to hunt up a contact person for you at SpringCM.
Check with US Bank...they have an outsourcing model you may find interesting...the documents go to them and they key them for you and interface the output back into your ERP system.
You may want to consider expanding your scope of AP automation. Digitized invoice collection and processing is definitely a good best practice but only touches on streamlining the entire AP supplier payments workflow. Ideally your AP automation systems should also handle payee onboarding, W8 / W9
Rob
I believe Coupa recently made an acquisition that will bring OCR
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