The Elemica Buy™ Invoice Compliance module digitizes and automates the processing of supplier invoices—eliminating error-prone manual processes and helping to optimize the accounts payable function as a whole.
Most invoice management processes are performed manually based on invoices received via disparate formats. Invoice Compliance lets you digitize, integrate and analyze invoice data quickly to make the most use of staff—and to enable management by exception.
The discipline of accounts payable demands balance. You want to treat suppliers fairly, meet contractual terms and avoid late fees. However, paying early, or in a non-compliant way, affects cash. Now you can make the right call every time.
By digitizing and analyzing invoices in your ERP system, you can ensure that payments are issued correctly and compliantly—disbursed to the correct parties, at the correct time and in the correct amount with all of the proper administration.
System inputs both invoice and purchase order information, linking the order to the PO throughout the lifecycle of the invoice so everyone is on the same page.
The Elemica Buy™ Invoice Compliance module enables you to get real-time invoicing data based on transaction, date, supplier and other key information. You can even configure alerts based on custom invoicing criteria.
The Elemica Buy™ Invoice Compliance module employs a number of advanced technologies such as Optical Character Recognition (OCR), machine learning and artificial intelligence to help process data quickly and accurately.
average reduced invoice processing time
average improvement in discrepancy identification
confidence in invoice process accuracy
The Elemica Buy™ Invoice Compliance module could be the quickest, easiest way to transform accounts payable performance—and it takes just a few minutes to reach out.