AP Automation - Dynamic PayablesTM
A Powerful Accounts Payable Automation Solution that Saves Time and Money
Processing paper invoices is a time-consuming and inefficient process. Dynamic Payables allows you to process higher volumes of invoices more efficiently and with stronger visibility. This product optimizes the AP process from the moment you receive an invoice until payment.
Invoices are routed through automated workflows which create a robust dashboard for automation, control, and configuration all while maintaining full auditability. Dynamic Payables increases overall efficiency and provides greater visibility and accountability throughout the entire invoice process.
Setup and Configuration
Dynamic Payables is delivered over SharePoint®, meaning you can leverage point-and-click configuration and office integration features inherent to the platform, and the core components are easy to implement and reconfigure as necessary.
Integrated administration features for capture helps ensure quick adaptability for employees. Visually configured workflows allow for easy setup while offering the ability to reach out to external systems without coding requirements. Finally, reporting and audit features are available to enterprise-wide users through various dashboards.
Integration
Dynamic Payables seamlessly integrates with any ERP system, and it offers specific adapters for Microsoft Dynamics AX, GP, and SL to create tight integration. The result is real-time data support throughout the payables process—which ensures data integrity and allows for:
- Real-time retrieval of vendor, chart of account, and PO information for use in web-based GL-coding, matching, and invoice validation
- Direct batch and transaction creation within the ERP for PO or non-PO invoices
- Reconciliation of final payment disposition back to Dynamic Payables to close the workflow cycle and provide one-stop visibility outside the ERP
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Improved Efficiency
Dynamic Payables reduces invoice processing time and costs by 40-60% by utilizing OCR, automated transfer to SharePoint, and automated GL coding. In addition, it offers real-time visibility into payables transaction details, which minimizes the need for extended ERP licensing and training. Dynamic Payables increases efficiency by:
- Automatically extracting critical information from invoices for use in document classification and workflow routing
- Automatically and securely storing classified payables documents
- Automatically assigning work to the correct role
- Notifying and reminding personnel of exceptions or delegations
- Allowing the ability to work with items from e-mail, onsite, or remotely
- Using GL-coding templates and pre-defined vendor-coding rules to decrease manual coding
- Optimizing straight-through processing opportunities
- Automatically creating and batching payable transactions once invoices are matched or approved
- Providing several active payables views which detail the distribution of work across the system
- Delivering integrated reporting to enable an audit of all processes—complete with workflow history and links to related documents
- Enabling one-click viewing of transaction-critical documents directly from relevant ERP screens
- Accrual reporting feature provides visibility into the in-progress payables transactions before they are uploaded into the ERP.
Increased Control
Dynamic Payables comes pre-packaged with several built in validators to cover common payables-control requirements. This flexibility enables organizations to implement a solution to address practically any compliance mandate.
- Real-time ERP integration allows immediate validation of invoice and vendor related data to identify and surface exceptions (e.g. duplicate invoice, unapproved vendor)
- Flexible workflow routing enables shadowing of new clerks and approvers to verify work while allowing practically any approval structure to be expressed
- Electronic forms validate user input and allow dynamic features to capture business decisions (e.g. rejection requires an explanation)
- Reporting details the payables that are in-progress—this includes links to related invoice documents and the ability to instantly export a spreadsheet for further analysis
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