The A/P Challenge

In today’s business climate every organization is looking to find ways to control costs, capture discounts and eliminate duplicate payments. At times delays in invoice processing can affect cash flow. Additionally, incorrectly assigned invoices, delayed payments and inefficient handling of inquiries do not contribute to a successful operation or foster supplier goodwill.

Everyday invoices are sorted, assigned priority, routed and manually matched. The correct processes must be initiated and data must be extracted and posted to the financial system all of which requires a significant amount of labor. A high degree of accuracy is required to avoid costly errors, and the entire process must be completed quickly in order to capture discounts.

The iMATCH for AP Solution

In the average Accounts Payables operation 80% of all invoices match the PO within the allowed variance. A matched transaction should move through the system without being touched, and yet current processes require an average of five touches for each invoice in order to determine a match.

Automated Link and Match

iMATCH is a unique process automation tool designed to automate, manage and control the processes involved in Accounts Payable. Without any manual intervention on the part of the Accounts Payable staff, iMATCH will differentiate between matched items and exceptions as well as PO Invoices and Non-PO Invoices. Matched items are sorted out to a Quality Review step and exceptions are automatically routed to the AP staff responsible for that vendor. iMATCH provides a side by side view of data and images which serves to accelerate the process of managing exceptions. Buyers become an integrated part of the process as images and information are transmitted with the click of a mouse to the Buyers desktop so the Buyer sees exactly what the Accounts Payable staff can see. Online comments enhance communication between Buyers and AP staff.

Prioritize According to Terms

Throughout this process iMATCH monitors and gives priority to invoices with pending discounts pushing them to the top of the queue as the payment date approaches. Otherwise iMATCH will hold the item until the check run just before the payment due date to either protect cash or ensure that available discounts are captured.

Identify Duplicates

iMATCH identifies potential duplicate invoices by monitoring each incoming invoice against invoices received from that vendor over a configurable period of time. If iMATCH suspects a duplicate, both items will be automatically sent to the AP staff responsible for that vendor. It is up to the AP staff to decide the appropriate action to take.

Automated Expense Routing

Expense items are routed automatically through the chain of approvals with no paper to manage. Invoices are approved with the click of a mouse by those with fiscal authority and are then automatically routed to the next person in the approval chain.

Automated Account Coding

iMATCH will remember and automatically apply GL codes month to month. If a line item is not recognized, iMATCH will automatically route the invoice to the appropriate person to have the missing account codes assigned. From that point on iMATCH will remember the GL assigned to that item and will apply it as the default until the default is changed. Line items within an invoice or the entire invoice can be easily “split” by keying in the percentage applied or the dollar amounts applied. iMATCH will remember the “splits” and apply them every month until the default is changed.

Of course there are many more benefits and functions available and we would like an opportunity to tell you what we can do.

For over sixteen years DOCUMAX Enterprises has been providing automated solutions for Accounts Payables and has been an innovator in imaging and workflow solutions. For more information give us a call today.

  • Eliminate all manual sorting and matching
  • Instantly link and match PO, invoice and receiver
  • Process up to 80% of all invoices automatically
  • Streamline exceptions processing
  • Eliminate key data entry
  • Eliminate late payment penalties
  • Earn quick payment discounts
  • Eliminate duplicate payments
  • Reduce labor costs by as much as 75%
  • Automate expense routing
  • Reduce approval times
  • Automatic escalation and triggers
  • Identify duplicates
  • Eliminate manual filing and offsite storage
  • Archive all transaction data in one place
  • Metrics reporting and audit trail