Accounts Payable Services Starter
The need for companies to do more with constrained labor resources or capital budgets, have driven many companies to focus their internal staff on performing higher value functions. Companies have turned to outsourcing the prepping, scanning, and data capture of invoices and supporting documents, as this frees up limited internal resources to perform mission critical tasks which have higher value to the company.
APIís Accounts Payable Starter service provides customers with the ability to leverage APIís expertise and advanced tools to get the job done at a lower cost. APIís standardized processes, trained staff, creative use of and access to technology, allows it to perform the document prep, scan and data capture functions more efficiently than if the company performed them internally. In addition to the cost savings customers typically reap the benefit of a higher service level as a result of APIís Six Sigma practices and multi-shift operation.
API utilizes state-of-the-art high speed scanners with image enhancement, Optical Character Recognition (OCR) and bar code recognition (1D and 2D bar codes) systems to process invoices and supporting documents accurately and efficiently. Scanning and data capture can be performed as a back-end (after payment) or front-end (before payment) function.
Invoice Scanning and data capture will provide the following benefits to companies:
APIís Payables Starter Service is comprehensive, flexible and provides customers with what they need and when the need it. The addition of front-end intelligence to the process through the integration of APIís workflow engine allows for business rules to be applied to the pre-processing of documents. Validation checks can be implemented into the system to identify such issues as duplicate invoices, unauthorized vendors, and stale invoices. These items can then be flagged and routed into exception queues which can then be worked by assigned individuals, prior to the documents or invoices being routed through the customerís normal workflow process or tool.
Automatic notifications thorough emails to users can also be incorporated to alert or remind individuals when specific actions need to be taken. This intelligence can be used to augment the capabilities of existing technology (such as a third party workflow engine, PO systems or other systems) or processes to provide customers with higher levels of controls and greater automation.
Front-end intelligence integrated with the Starter Service provides customers with a sophisticated entry point into automation and the ability to enhance the capabilities or controls of existing systems or process.
"Our partnership with API gives us the capability to consistently deliver on our promises and exceed member expectations for service. This capability, in turn, allows us to operate in an efficient and cost-effective manner."
President and CEO,