CALL 1.888.739.1934 REQUEST INFORMATION SOLUTIONS DEPTS & INDUSTRIES WHY CHOOSE US CLIENTS BLOG CONTACT Leaders in AP Solutions and Industry Best Practices Streamline. Eliminate. Automate. Accounts Payable Automation and Outsourcing Automation will save you time and money. Have your accounts payable processes become cumbersome and expensive? Depending on how manual your current processes are you could be spending anywhere from $20 to $30 to process each invoice. If cutting costs within your accounts payable department is on your to-do list, consider an accounts payable automation and outsourcing solution. We take care of receiving and digitizing your invoices on a daily basis as well as validating and extracting the data for uploading into your ERP or accounting system. You will have access to key metrics and 100% visibility at every step. As an enhancement to invoice processing, Octacom’s Odiss™ AP Portal assists with invoice approvals and coding, exception management, vendor management and provides a secure and searchable long-term invoice archive. Further, Odiss™ AP Portal features a Vendor Portal module, which can be leveraged to reduce call volumes into AP by displaying real-time invoice status and payment confirmation details. How does Octacom’s solution work? We combine services and software to provide an end to end automation solution. Let us help you get some of that time and money back through accounts payable automation. Watch the Video to See How AP Automation Works Improve Accuracy Problem: Manual processes are slow and prone to errors resulting in incorrect or duplicate payments, increased exceptions and costs. Solution: Having invoices centralized, validated and matched against POs and receipts, prior to submission to our OdissTM Document Management Software and/or your ERP or accounting software ensures correct information for accurate and timely payments. Be More Efficient Problem: Managing incoming invoices, exceptions and new vendor registration will often overwork and overwhelm your accounts payable department. Many hours are spent each day tracking down invoice approval statuses from internal departments or branch offices. Solution: Accounts Payable Automation frees staff from mail handling, data entry, exception processing and manual paper or email approvals, allowing your employees to focus on more key activities. Your cost per invoice processing goes down and your efficiency goes up. Decrease Turnaround Times Problem: Invoice approvals and payments take too long, resulting in missed early payment discounts and unhappy vendors. Solution: Automation significantly decreases processing times. All data capture and validation is provided as part of a daily processing service. You receive complete and correct invoice data necessary to capture early payment discounts and eliminate late payment fees while improving vendor relationships. Gain Visibility Problem: The accounts payable process and staff have little or no control over incoming invoices; finance needs better visibility and real-time data for outstanding costs. Solution: True accountability and real-time reporting provides 100% visibility at each step of the process. No more gaps or black holes within the system. Invoice automation allows you immediate accessibility to track and manage all of your invoices in one central location. OCTACOM’S AP AUTOMATION SOLUTION Average price to process an invoice without automation The average Account Payable department cost of processing a single invoice according to Paystream Advisors Study. Average price to process an invoice with automation Our pricing is simple; you pay per invoice for the end-to-end automated solution, an average savings of 95%. ELIMINATE… Manual Data Entry Invoice Accuracy Issues Late Payments Lost Invoices Duplicate Payments Complicated Approval Processes Consider Outsourcing Your Accounts Payable Process Imagine the ease of having all of your documents to a secure P.O. Box, secure email account or Vendor Portal. Vendors send invoices directly to Octacom via mail, email or vendor portal. Once received your invoices will be processed and uploaded to your ERP within 24 hours 5 Reasons for Higher Processing Costs Without Automation: Human Intervention such as managing incoming invoices, sorting, routing and follow up. Manual data entry and verification Slow manual approval process Exceptions processing Lost opportunities for early payment discounts Top 5 Benefits Gained With AP Automation Services: Up to 90% reduction in human intervention Significant reduction in overall process time Improved accuracy with data capture and automated verification processes Revenue earned from early payment discount opportunities Real-time visibility to entire Accounts Payable process REQUEST A FREE QUOTE [recaptcha recaptcha-15] CASE STUDY: THE SALVATION ARMY The Salvation Army was looking for a way to centralize the process to utilize their new ERP solution for workflow and AP automation processes. To facilitate the invoice centralization, they went to tender to find a solution partner who could assist them and support their needs. READ THE CASE STUDY IMMEDIATE SAVINGS & BENEFITS WITH ODISS™ DOCUMENT MANAGEMENT SOFTWARE Access invoices anytime, anywhere and from any device. Provide vendors with access to a Vendor Portal, reducing service and payment update calls and emails by up to 80%. Provide temporary access to specific users, including auditors. ABOUT ODISS™ DOCUMENT MANAGEMENT SOFTWARE Odiss™ is Octacom’s secure, cloud-based document management and workflow automation software. Odiss™ can be integrated with your organization’s ERP or other management systems with ease, ensuring it fits smoothly into your daily workflows. Streamline and automate accounts payable, proof of delivery documents, eStatements distribution and more so your team can focus on what is important; growing your business. Whether you have 10 users or 10,000 users, Octacom will provide an affordable package for your department or enterprise. Ask us how Odiss™ can benefit your organization and meet your requirements for your document management. Learn more. THIRD-PARTY INTEGRATION SAP JD Edwards Oracle Basware Dynamics Yardi Unit 4 And many more CASE STUDY: VOTORANTIM CIMENTOS Octacom’s Odiss™ solution is used by Votorantim for fast and accurate access to to the signed proof of delivery tickets needed to confirm payment. Our client has reduced their outstanding Accounts Receivable levels and quickly provides their customers with signed proof of deliveries. READ THE CASE STUDY EMPOWERING YOUR ACCOUNTING DEPARTMENT Learn how to: Assess your current AP processes and determine how they can be drastically improved Create a needs assessment for your Accounting Department Learn about Enterprise Content Management (ECM) DOWNLOAD EBOOK NOW IMPROVED OUR BUSINESS PROCESSES "Octacom has been an excellent organization to work with during this transition period. They offer great support and solutions for all our needs. We look forward to continue working with Octacom to further improve our business processes." Steven DaSilva, National Customer Service Manager, VitalAire/Air Liquide Medical LET’S TALK. WE’RE HERE TO HELP. 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