The Fast Track Solution For Automating Accounts Payable
Our invoice processing solution is one of the most cost-effective and yet comprehensive applications available in the market today. It allows true collaborative processing between all users to share any exception handling and can input virtually all paper and electronic invoice submissions formats. The solution can be hosted in-house, in the cloud or from a bureau and procured on a per-click, monthly subscription or capital expenditure basis to suit any financial budget. The return-on-investment of the solution could be almost instantaneous.
The True Cost Of Invoice Processing
Many organisations can save considerable costs by the automation of invoice processing. On average a local government organisation will spend at least £3 in direct and indirect costs for handling every invoice processing solution savings will continue to increase as the system learns and suppliers are helped to be more effective in their submissions invoice.
This includes employee, running, IT, accommodation and central charges. The full time equivalent headcount for 100K invoices per annum can be as high as eight operatives. FlowMatrix has been designed as a comprehensive self-learning AP processing engine that can reduce FTE head count by up to seventy five percent by intelligently automating the capture and processing of invoices. By using a rules-based engine with intelligent extraction algorithms, automation rates can be as high as sixty percent with the remainder of invoices only requiring minor exception handling