AP Automation in OneSCM® offers 2-way, 3-way and 4-way invoice matching options to reduce processing time and costs. Accurate invoices can be routed through an automated payment workflow to be paid early to receive discounts, or on time to avoid late payment penalties. Problem invoices are flagged for review and action.
- Both PO & Non-PO based Invoices: Multiple invoice types are supported for workflow and payment processing through OneSCM’s central management console.
- Configurable Workflows based on management by exception (MBE): Finance resources are freed up to solve problems rather than process invoices that can be paid without further review.
- Payment Prioritization: Payment prioritization rules allow finance departments to take advantage of early payment discounts and avoid late payment fees. This also helps procurement departments negotiate more favorable terms for materials and payment windows.
- The Accounts Payable Dashboard allows finance teams to monitor overall accounts payable activities related to time, accuracy and spend, as well as by specific buyers and suppliers. With custom KPI thresholds, this provides on-demand visibility into performance to address potential issues.