If you enter vendor invoices into Macola on a regular basis, you should be using the A/P Voucher workbench customization. It will improve the efficiency of entering vendor invoice data, simplify three-way matching, link A/P invoice documents, provide better traceability on the purchase to pay process, and automate the G/L matching process of PO receiving transactions to linked, posted A/P vouchers.
Benefits:
- Reduce invoice processing costs – realize significant time & cost savings
- Reduce errors & improve accuracy
- Replace manual data entry
- Replace paper-based invoices
- Integrate with Macola 10
- Easily search liabilities & payables
- Enable traceability
- Integrate with general ledger
Example Cost Savings:
Without AP Automation:
10,000 invoices x 5 minutes per invoice = 833 hours
With AP Automation:
10,000 invoices x 2.5 minutes per invoice = 416.5 hours
**Time savings could vary, with the possibility to receive up to a 70% reduction in processing time.
AP Automation Addresses the Following Issues:
- Large volumes of transactions arriving in different media and formats
- Challenges in identifying the right data to extract and enter in the financial system of record
- Discrepancy resolution and approval workflows that reach to the edge of the organization, and the need to ensure the highest integrity
