Accounts payable automation

Automate invoice capturing, coding, matching, and archiving.

Automating the Accounts payable process provides organizations with numerous advantages. It significantly increases efficiency by eliminating time-consuming manual tasks such as data entry, invoice matching, and approval routing. Accounts payable automation streamlines processes, enabling faster invoice processing, reducing errors, and freeing up staff time for more valuable activities. Moreover, automation leads to cost savings by eliminating paper-based invoices, reducing manual data entry errors, and optimizing invoice approval workflows.

As a result, organizations can allocate resources to more strategic areas while reducing operational expenses. Improve accuracy by minimizing human error risk, and ensure accurate data capture, invoice matching, and payment processing.

Accounts payable automation

Accounts payable process automation

Accounts payable automation software handles all incoming invoices and processes them accordingly with little human intervention as possible, from smart capturing of invoice data to automated digital workflows and invoice postings.

Capture invoice data

An integrated accounts payable automation solution starts with extracting incoming invoice data sent to you in formats like (but not limited to) Paper, PDF, XML, EDI, and through channels like Email, Peppol, Tradeshift, Ariba, Tungsten, and many more. This first step in the process, Dynatos uses a powerful combination of advanced OCR technology with integrated Artificial Intelligence (AI) and Machine Learning (ML) technologies to achieve best in class recognition.

Automated invoice data capture and extraction
Process invoice data to your ERP system

Process invoice data

The invoice data is then used for processing purchase order (PO) based and non-purchase order-based invoices. PO-based invoices are automatically matched (2-way or 3-way) against PO-data in your ERP system and then posted automatically if no deviations occur. If deviations do occur, a role-based workflow will start to handle them accordingly.

Non-PO-based invoices can both be coded automatically based on business rules and previous patterns or manually. The same applies to starting a workflow for invoice approval.

This way of automating the accounts payable process requires minimal human interaction while maintaining business regulations and control.

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Collect incoming invoices

Receive incoming invoices from any channel in any format.

Automated invoice data capture and extraction

Capture invoice data

Intelligent capture and extraction of invoice data like the purchase order, supplier number, product lines, and values. No matter the language or regulations.

Capture and extract invoice data with exceptions

Touchless processing

Automatic workflow for handling exceptions and deviations. Stay in control over the workflow and the process of PO based and Non-PO based invoices

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Application integration

Match invoices to suppliers and purchase orders from the ERP system like Netsuite, SAP, or Microsoft Dynamics. Also, pair the data with other applications within the organization, like process mining or reporting software.

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Cloud-based or on-premises solutions

Accounts payable automation software is available with on-premise solutions but also in the Cloud. Therefore, invoices can be approved, declined, or request edits from everywhere through all devices. It also enables access to invoices and financial data to make strategic business decisions based on accurate financial information.

Accounts payable automation ignites Digital Transformation in finance

Both internal and external stakeholders nowadays expect more from financial departments than simply bookkeeping and preparing financial statements. They increasingly expect that finance supports them pro-actively in decision support, risk & compliance, and performance management. Financial departments are therefore transforming from a traditional operational function to a true business partner for its stakeholders.

Strategy, change management, and technology are crucial elements in every finance transformation process. Accounts payable automation frees up time to go through this transformation while improving productivity, efficiency, and quality.

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IFPA white paper

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