Should You Automate Your Accounts Payable Processing?

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The Blog Chicks Team have had first hand experience in SolBox’s accounts payable invoicing methods and if you are processing over 500 invoices per month and have a large number of warehouses and suppliers? Chances are, you are spending a significant amount of additional time and money manually processing invoices than you need to.

Traditionally, processing paper-based invoices requires employees to match them against a purchase order number, ensure everything is accurate and in order, before running around the office to find the appropriate person to approve the payment. Not only does this waste time, but it can also lead to errors, lost invoices, late or double payments and customer service delays.

SolBox can remove all the heavy lifting associated with accounts payable. Not only can it capture and extract information from almost any document, but it can also intelligently determine how to process the information and automatically implement the workflow required.


Data capture & extraction from paper documents

SolBox’s bespoke software solutions can then capture and extract information from a variety of sources, including paper documents, emails, PDFs and more, reducing the amount of manual account processing required – saving both time and money.

Intelligent extraction, powered by machine learning, removes the need to manually process documents and extracts key information such as invoice number, date, supplier and amount. This ensures all documentation is captured in a consistent digital format, no matter the source of input, and eliminates the need for employees to manually enter in the information.

Optimise accounts payable with automated workflows

Optimise your accounts payable workflows with SolBox. Users are immediately notified when a new invoice comes in and, once verified, SolBox’s workflow automation will push the document through the approval process, automatically matching the invoice against key data, such as PO numbers.

Even better, the system will provide full visibility, in real-time, of your accounts payable. Not only will you know exactly where each invoice is in its process, but you will also receive a deeper insight into cash flow and business spending patterns, helping you to develop strategies for improvement, provide accurate information for audit trails and mitigate duplication and errors in accounts payable.

ERP Integration

SolBox provides multiple API connectors enabling companies to connect their different software platforms together to minimise data entry points and improve efficiencies. Whether you need to connect the platform with accounting software such as Xero, or a bespoke software solution, SolBox ensures you can eliminate the duplication of work so you can spend more time on the business.

Get a live demo! 

Want to see SolBox in action, get a live demo from one of their Solutions Experts by calling on +61 1300 91 80 20 or emailing the team via info@solbox.it