Accounts Payable Automation: Smarter. Faster. Safer.
The benefits of ITESOFT Capture-as-a-Service for public sector accounts payable processes
Speed up invoice processing
Making use of the latest technology, ITESOFT Capture-as-a-Service offers organisations faster access, to faster platforms. Allowing all organisations the opportunity to not only reduce the amount of time this laborious task takes, but to be up and running faster than ever before. With CaaS your business case can deliver an RoI of less than 12 months and be up and running in just days.
Optimise available resources
Freeing time for your finance teams to focus on higher value added tasks is a key benefit of CaaS. Rather than members of the team spending hours and days manually keying in invoice data and validating supplier information their focus can shift to improving supplier relationships, working in early settlement discounts, ensuring legislative compliance, and many other areas of business.
Protect against risk
With a mutualised supplier database, the risk to an organisation of payments being made to the wrong supplier, or to a phony supplier is drastically reduced. CaaS from ITESOFT is the only vendor offering real time checks against a mutualised repository of more than 600,000 records to ensure that the supplier shown on the invoice is the supplier you want to make a payment to.
Learn more about Invoice Capture and ITESOFT Streamline for Invoices in 3 minutes
For many organisations capturing their supplier invoices is only 1 part of a much wider challenge within Accounts Payable, Finance or the P2P function. Our full product, Streamline for Invoices builds on the unique benefits of CaaS and delivers access to a fully automated, end to end, P2P process.
Including elements such as:
- Supplier Portal
- Supplier Relationship Management
- Purchase Order Requisitioning
- Invoice Capture
- Workflows & Approval Processes
- Full Analytics Dashboards
- Reporting Features
The challenges faced by public sector accounts payable and finance teams
Do more with less
In an era of focused cost savings the longer it takes an organisation to make the change to digitalisation the higher the cost, and the broader the impact on an organisations resources. From IT through Procurement and into Finance, resources are often scarce, and time is a valuable commodity. Freeing up time and resource from all organisations can drive real cost reduction.
Virtually every arm of the public sector is being tasked to reduce their spend and save money for their organisation. If this cannot begin with Finance, where can it start? Accounts Payable and Finance are often considered to be little more than a cost centre to organisations, a strain on the public purse but a necessary evil. The result? These teams are often underfunded and very definitely underutilised.
In 2016, government detected a total of £8.9 billion of fraud and error loss. With the press focus each story related to fraud, and especially so when this hits a public sector organisation, the risks are fast becoming a specific focus across the sector. No organisation, or individual, wishes to be tarnished with the negative press that comes with instances of high value fraud.
Staff productivity gains since automating the Accounts Payable Process
Source : Oxford Health Foundation Trust Case Study