AP integration with FACTS

Improve efficiency through end-to-end creditor invoice process automation.

UpSol delivers document and workflow automation applications that improve the operation of any organisation by connecting users with the information they need to work more efficiently and effectively.

FACTS customers can use solutions from UpSol to automatically extract invoice data (significantly reducing data entry), route creditor invoices through a custom approval process and deposit the approved invoice data directly into FACTS, via the FileBound module - requiring no human intervention.

Benefits

• Remove Bottlenecks - Ensure that invoices are paid on time with less effort. No more time spent passing paper around, matching invoices to POs or other documentation, or chasing down approvals.

• Enforce Compliance - Automated workflow guarantees that all of the proper procedures are followed and documented, enabling compliance with audits and preventing fraud.

• Increased Visibility - The status of an invoice can be obtained quickly at any time.  Advanced analytics expose data about transaction volumes, financial liabilities and vendor interactions to identify areas for improvement.

• Eliminate missing and duplicate invoices - Physical invoice routing around a campus means that AP teams often lose track of invoices.  This can lead to vendors sending invoices a second time which increases the chances of a duplicate payment being made. An electronic routing process not only lets the AP team keep track of the invoices, but can also alert them if a duplicate invoice arrives.

• Free up valuable physical space - Do away with having to store paper documents and all of the costs associated with their storage. FileBound gives you faster access and easier availability to important documents electronically!

• Cut costs and delays - Invoices enter the system quickly, are routed automatically, and are accessible from anywhere, thus reducing the amount of labour needed to complete AP processing. Costs for moving, filing, securing and storing paper documents are also eliminated.