Industry trends and challenges
Companies are often challenged when it comes to their accounts payable processes with poor data entry issues, disappearing invoices, delayed manual approvals, and more. This can result in lost funds as well as slow and inconsistent processing of invoices that frequently cost businesses time and money. Companies must find an intelligent solution to help minimise the gaps and errors that exist within the accounts payable process.
Get the rapidMATION solution
rapidMATION’s Accounts Payable solution weaves together market-leading technologies from ABBYY’s document capture and optical character recognition solution, K2’s low-code application development platform, and UiPath’s robotic process automation software. The joint solution provides an intelligent accounts payable automation solution that saves time and reduces cost. Use the solution out-of-the-box or customise it to your environment, and run your accounts payable process, your way.
Get the most out of your accounts payable solution
Capture and extract invoice data
Use ABBYY FlexiCapture for invoices to pick up incoming invoices, extract invoice data and pass the data on for processing.
Incorporate humans to review tasks
Use K2 to bring humans into the loop and assign them tasks.
Tasks could range from allowing them to review and update extracted invoice data to letting them approve the invoice before payment is made.
Process and pay invoices
Leverage UiPath to automate repetitive, mundane tasks and free up time for people to perform higher value tasks.
Software bots can execute a wide variety of human tasks – looking up purchase orders, posting invoices to an ERP, making invoice payments, and more.
Track, analyse, and evolve
Digitize the process so you can efficiently track money owed and going out.
Analyse and improve your process to find ways to optimise record keeping and minimise money gaps.
How it works
Extract invoice data.
Validate information when needed.
Remove risks of data entry error.
Create an end-to-end accounts payable process and ensure no tasks are missed.
Assign tasks to owners and make sure the necessary information is delivered to the right person at the right time.
Process and pay
Use software bots to look up purchase orders, post invoices to an ERP, make payments on invoices, and more.
See the rapidMATION solution in action
Here’s how you can automate invoice data extraction, invoice processing, and other tasks, while still keeping people in the loop.
An alternative route to costly custom software
A large construction company optimised its end-to-end AP processes – increasing efficiency and reducing risk without having to invest in a costly and time-consuming IT change project.
Reducing manual effort to cut risk
A temporary fencing and barrier products company automated its manual and error-prone invoice processing system.
Augmenting the value of an RPA solution
A leading property management company used rapidMATION solution to integrate an intelligent content management solution into the invoice approval workflow.
AP processes are often plagued by inconsistencies and a lack of accountability for key tasks.