AP Automation has become a standard requirement for organisations upgrading their financial management system. Even with low volumes of inbound invoices, it can still be an attractive option. After all, no one wants to face the challenge of manual data entry if they can help it. The problem is more acute, however, and the benefits even clearer, when volumes are high.
LAKE AP Automation solutions take away all the headaches of manual invoice processing, replacing them with a streamlined and automated process which reads and registers invoices in SunSystems, Proactis P2P, SAP Business One, or indeed any other ERP system.
LAKE AP Automation solutions handle all invoices - whether received by email, post, or via an online portal, - in a consistent, automated manner.
Artificial intelligence within the solution scans and interprets invoices and checks for errors, such as duplicates or missing PO details. This ensures that every invoice is accurate and compliant before it enters your payment process, streamlining your workflow and freeing up your team to focus on more strategic tasks.
The Invoice Capture offers clear benefits to your business:
Automation saves time and money. It enables you to process more transactions without additional overhead. By reducing human error, there are fewer invoice discrepancies to resolve.
With LAKE AP Automation solutions, invoices are captured, validated, and integrated into your P2P or finance system much quicker than with manual methods. This leads to shorter payment cycles, better visibility of demands on cash flow, and improved supplier relationships. Your accounts payable team can spend less time on repetitive, low-value tasks and more time on activities that contribute to your business's growth.
Manual data entry is not only time-consuming but also prone to errors. With LAKE AP Automation solutions , invoices are processed with a high degree of accuracy, reducing disputes with suppliers and improving the overall quality of your accounts payable function. Invoice discrepancies are caught early, preventing delays in payment processing and enhancing supplier trust.
Proactis ensures that your invoicing processes comply with relevant industry regulations, keeping your business audit-ready and reducing the risk of fines or penalties. By automating approval workflows and maintaining a clear audit trail, this solution enhances transparency across your organisation and helps you enforce a “No PO – No pay” policy.
As your business grows, so does the volume of invoices you handle. With a LAKE AP Automation solution, you don't need to worry about scaling up internal resources or investing in new systems. The solution grows with your organisation, handling larger volumes of invoices with ease, and ensuring that your accounts payable function remains efficient and effective.
To find out more, reach out to our team who will be delighted to help or call us at 0113 273 7788.
by Adrian Howard
General Manager
