Invoice Automation: The Benefits of Working with OnPay Solutions
Automating your department's invoicing will directly impact productivity. Finance AP department's save an average of $10 dollars per invoice and cut costs on paper and resources by eliminating mundane tasks. Your finance department will be able to focus on more important tasks instead of matching paper invoices line by line and manually entering information. Additionally, you'll free yourself from double work by drastically reducing mistakes caused by keystroke errors.
Invoice automation will also give you and your finance team improved visibility into your cashflow. All of your invoices can be matched automatically with their totals visible, so you don't ever have to wonder where a missing invoice went or which line items correspond to which payments.
The Best Part?
Our payment and invoice automation portal, OnPayConnect, can integrate with your existing accounting system or ERP. That means full implementation of invoice automation can take less than 30 days. We even handle onboarding and training for your staff and vendors. After implementation, your team and your vendors will have access to 24/7 technical support with a promise of a 30 minute callback during business hours. Our "customer first" approach is just one of the many reasons we have a 100% vendor and client satisfaction rating.
“Automating our AP department has saved us on average $120,000 a year. When you add in the rebates from virtual card payments, it's insane. Our only regret is that we waited so long to automate.”
Why Digitize Paper Invoices to eInvoices for AP?
- Never touch paper again. Einvoices eliminate mundane tasks and free resources to be more productive.
- With OnPayConnect's “Full Service” A/P automation solution you eliminate opening envelopes, scanning invoices and data entry. This allows your A/P staff to focus on more productive tasks.
- All invoices are intelligently captured and visible in the system within 48 hours of receipt.
- This visibility gives you complete control. Cash management becomes more effective by reducing data entry errors, lost invoices and significantly shrinking process cycle times. This allows you to better manage cash flow, take advantage of early pay discounts and negotiate new discounts with suppliers.
- Substantially reduces costs.
- 75% of 997 companies surveyed by CFO.com report that their cost to process an invoice ranged between $8 and $12.50. We reduce those costs dramatically, improve accuracy and substantially lower processing time.
- Printing checks is expensive. The Aberdeen Group states that the average cost to issue a check is $7.78. Should you wish to continue to issue checks, we can dramatically lower your costs. Converting to ACH or V-Card payments reduces costs even further and with our payment solutions, you will never have to change your banking relationships!
- No software costs.
- Our custom solution built for each client requires no purchasing or leasing of expensive “pre-packaged” software. We help you build your workflow and reports designed specifically to meet your requirements.
- Reduce the risk of fraud.
- Your new workflow will contain embedded controls that substantially reduce risk of fraud and theft.
- No hidden costs.
- We have a straightforward pricing model that can be catered to your unique business needs
- Improve supplier relationships with status notifications and alerts.
- Drastically reduce the amount of phone calls, emails, etc. from suppliers regarding payment status, etc. Suppliers can choose their method of payment, while you maintain your relationships with your local community banks.
- Ease of integration with your current ERP system.
- Requires very little IT support. We “on-board” our clients in weeks, not months. Our process integrates with any ERP system seamlessly, regardless of limitations.
- We build custom solutions designed to meet your specific accounts payable requirements. This is not pre-packaged software.
- Your vendors/suppliers can continue to send paper invoices if they wish. There is no need to require them to submit invoices electronically.
- SOC II compliant and maintains the highest level of security in our secured processing center.
- Client satisfaction? We’ve never had one leave us!