Accounts Payable (AP)

 

Invu offers a fully automated Accounts Payable solution to bring control and efficiency to your organisations financial commitments.

Using invoice capture & data extraction tools our solution can automatically pull information from invoices and other financial documentation to drive an electronic and automated process.

 

What are the benefits?

  • Stronger internal controls of ­finance management
  • Improved supplier relationships with better visibility of invoices
  • Increase in efficiency with invoice cycle time significantly reduced
 

 

Capture: PDFs, Scanning & Data Extraction

The harvesting and scanning in of invoices, whether it be in the form of emails, pdfs or paper documentation is the first part of automating the process. Using Invu Invoice Capture most of the Invoice data is also extracted automatically and both as-standard and customisable rules guarantee the data is correct before the Invoice is progressed. Now the Invoice is digitised it becomes quick and easy to search and retrieve from the Document Management module.

     
     
 

Workflow: Invoice Approval, Coding & Matching

The problem in the paper world is that you don’t know where the process is at unless you know where the paper is. The Workflow module drives the process electronically so that you know who each Invoice is sat with, why and how long it has been sat there – all via a simple report.  Let go of the paper and rubber stamp!

Coding invoices can now be done by budget holders or Finance in a controlled and audited manner so that codes are always valid and totals always add up.  For many businesses this means that the coding can truly be pushed out to the Budget Holders and improves the relationship with the Finance Department whilst also lowering workload.

     
     
 

Integration: Invoice Posting/Matching

The Invu Invoice Integration module provides the ability to deliver the approved invoices into your Finance system in a controlled and audited manner. Invu will work with any Finance system to achieve effective integration. Out of the box integration is available for Sage50 and Sage200 systems, Aareon QLF and many more.

In addition you can bring back key data from the Finance systems Invoice back into Invu – such as the transaction Reference and Paid Date. This allows all users to see the essentials of an Invoice’s progress without needing to be a user of the Finance system, improving visibility within the business.

     
     
 

Search, View & Reporting

Throughout the process and afterwards, access to Invoices is important. Invu’s Document Management is an ideal repository for your documents and allows them to be instantly retrieved. Searches can be done on both the invoice data and the OCR’d (Optical Character Recognition) content of invoices – it is as easy as using Google.  Also key is the ability to have oversight of the whole process with reports giving never before seen insight into the Invoice approval process.

 

 

For more information about our Accounts Payable solution or to book a demonstration, please contact us here.

 

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Adactus Housing Group, implemented the Invu AP solution to tackle 2 key processes:

  • Automation of document and content capture of the most signifi­cant portion of purchase invoices.
  • Automation of invoice approvals via document based workflows.

 
         
 

The Invu solution has made a real difference to the finance department. It gives us complete transparency and enhanced control – we have far greater awareness of all invoices and commitments.

Mark Butcher, Lambert Smith Hampton

 
         

 

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