Accounts Payable is a critical business process, which impacts and defines two vital business functions: Cash Flow and External Vendor/Supplier Payment Management. Both these business functions contribute directly to your firm’s profitability. A well organized and robust Accounts Payable process can help your organization perform better by lowering costs. As a business scales up in terms of volume, as well as geographical presence, automation of AP process becomes crucial. This process enhances an organization’s image and credibility by ensuring healthy vendor relations. It improves productivity and visibility, optimizes the usage of cash, and leads to better supplier-vendor relations.
We help you optimize your AP functions to optimize cash flows, and also positively impact productivity and cost efficiency. Our solutions, built on Newgen’s robust and unified ECM and BPM platforms, help managers map the entire process flow and also identify bottlenecks as they begin to form, thereby effectively negating them and preventing AP processes from choking. You can also integrate seamlessly with SAP ERP systems for optimized invoice processing.
Single Window Digitization
Invoices received at any location can be captured and their scanned images are sent to a common mail room. Relevant data and information from invoices are extracted, indexed and validated automatically
The portal compliments the SAP ERP system as the single source of awareness for AP Managers
Systematic Flow of Processes
Enable AP managers to balance multiple complex relationships with suppliers as well as stakeholders. Each process, from invoice collection, exceptions, resolutions, to payments, is rule driven and addressed to the appropriate business participants
Access comprehensive dashboards, which highlight lacunae or bottle-necks within the process and enables timely resolution of issues
The AP Solution improves the overall health of the AP process by ensuring that information delivered to the ERP is relevant and qualitative. Reducing time lost in error rectifications. Moreover physical paper based processes and manual processes are eradicated bring about standardization of process flows
Provide process visibility through active Dashboards, clearing out bottlenecks and enabling faster exception resolution
Optimizing the use of cash
Making payments to vendors systematically ensures metric based allocation of cash flow , helping in predicting cash requirements
Driving value based associations
Since the AP portal ensures timely payments to vendors, AP managers from within the organization are in a better position to negotiate discount terms and better credit terms with suppliers and vendors
Improve Supplier / Vendor relations
Enabling timely payments and also allowing vendors across geographical locations to interact and keep a status track on their invoice submissions
Improve cost inefficiencies
By reducing incidents of penalties on late payments. Also, by lowering overhead costs of managing paper and eradicating manual processes. Moreover reducing errors through automation prevents financial penalties as well as loss of corporate reputation.