2024
A Checklist for Developing a Future-Proof AP Organization
What is Accounts Payable Automation?
It’s easy to forget that an Invoice is simply a request for payment from a supplier, and therefore it’s the job of AP Automation software to make this simple, fast and more efficient for both the Supplier and the Accounts Payable team. By using the suppliers’ desire to be paid, top performing organizations ensure that the Invoice-to-Pay journey is seamless and touchless.
Enable Your Suppliers to Automate
All Suppliers, from the poolman to the global providers have embraced electronic invoicing. This could be simply a PDF invoice sent as an email attachment, or it could be full blown electronic data interchange (EDI) as an XML. However, you will still get some good old paper invoices, and that’s why the Invoice Hub handles everything from paper to PDF and even EDI. To be an Accounts Payable Top Performer, that is not enough, you also need to offer suppliers self-validation, self-matching and payment data removing the onboarding barriers and cutting inquiries down by over 50%.
We were able to go live with Ivalua’s P2P solution in 8 weeks, with more suppliers onboarded than in 7 years with our previous technology provider, employees quickly adopted the software and our suppliers appreciated the Ivalua model, which makes it easy to connect and helps improve collaboration.
Cindy Seabrease
Director of Purchasing and Accounts Payable
Maxim
Ivalua removes the Supplier enablement and onboarding challenges
- Automates supplier enablement directly from master data
- Enroll suppliers in real-time within the AP automation journey
- Make onboarding as easy as a new email address
- Image & PDF OCR, turning Paper into electronic invoices
- Government Clearance Network integration for seamless Tax Compliance
Ivalua creates crisp clean and compliant e-Invoices every time
- Knows your suppliers ensure only trusted eInvoices are processed
- Checks eInvoice content for local Tax Compliance
- Stops mandate fraud by validating master data before processing
- Removes duplicate invoices, even if submitted via different streams
- Turns every Invoice into the same digital data for Invoice automation
Top Performing Accounts Payable Automation
A recent Hackett report identified that top-performing organizations, with high levels of Accounts Payable Automation, could save up to 54% on invoice processing costs and only that they only had a third of the internal employees focused on AP.
Unlock the power of your Accounts Payable team and hit new heights in straight-through-processing by utilizing smart matching within one-click workflows, supplier self-matching right down to line level allocations and tax treatment.
We have a strong partnership with Ivalua and continue to generate value. With Ivalua we have achieved 100% digitization across all procurement processes and have been able capture a tremendous amount of savings.
Sylvie Robin Romet
Chief Procurement Officer
Crédit Agricole
Ivalua offers unparalleled smart matching of invoices
- Touchlessly matches Invoices to suppliers to master data
- Automatically validates Orders lines to the Invoice
- Enables non-PO Invoices be matched to Contracts
- Drives Invoice compliance with auto receipting on approval
- Create your own Line Allocations and rules as you go
Ivalua reduces the number of exceptions to process
- Reduce approval time with one-click approvals within emails
- Lower errors by allowing the Supplier to tag the buyer
- Allow buyers to receipt good and trigger auto Invoice approval
- Smart non-PO handles allows missing PO’s to be appended, not rejected
- Smooths out compliance with a full audit trail of all activity
Improving Accounts Payable Automation Never Stops
The ability to continuously improve your Accounts Payable Automation is critical to achieving a rapid return on value and going beyond Top Performance. To do this you need the intelligence data necessary to evolve, adapt and enhance the Invoice to Pay journey plus support from across the business.
Ivalua gives Accounts Payable control over performance
- Globally compliance Invoice-to-Pay journey out-of-the-box
- Out-of-the-box Dashboards give real-time performance data
- Integration console provide up-to-date ERP status information to IT
- Fast plug-n-play ERP connectors that support multiple systems
- Remove Supplier duplication errors with true hierarchies across ERPs
Ivalua puts Accounts Payable in the driver’s seat
- A Supplier Portal that gives you control over master data and onboarding
- Support for multiple Tax Allocation down to the Line Level, globally
- Full global e-Invoice and tax compliance support within the same journey
- Seamlessly interacts with 3rd Party Tax engines or ERP content
- Make the workflow changes you need, cutting IT support costs
