Accounts payable (AP) is one of the most paper-intensive areas within your organization. Despite accounting/ERP system efficiencies and efforts to implement electronic invoicing, the volume of paper invoices remains significant and AP departments struggle to effectively process these documents.
Manual invoice processing extends cycle times and increases the risk of errors, and the invoice process can often touch individuals across widely distributed environments—creating costly and time-consuming invoice approval and payment authorizations.
Organizations utilize The Windward Group invoice processing automation solutions to realize the following benefits:
- Get rid of paper and reclaim office space
- Improve efficiency and productivity
- Prevent duplicate payments and lost invoices
- Capture more early payment discounts and avoid late payment penalties
- Eliminate document transportation (mail, fax, courier, FedEx)
- Cut storage costs
- Provide management visibility into invoice aging and cash flow
To realize invoice processing automation, The Windward Group clients have three choices:
- Invoice Capture & Management Solution: we can implement an invoice capture solution with document capture software with your ERP/accounting system
- Invoice Scanning & Data Entry: we can pick up your invoices, scan them, key in all index values and GL Codes, and then upload them to your ERP/accounting system
- A Hybrid of the Two: we can scan your backfile of invoices or handle processing overflow during peak times in addition to setting you up with a system to handle day-to-day invoice processing