Transform the way invoices are handled across your organisation

Line of business and distributed departments receive invoices via mail, fax, email, and other electronic formats, and spend a significant amount of time and labour processing them locally, or sending them to a centralised Accounts Payable department. Key Digital’s solutions for invoice processing help significantly reduce the time, cost, risk and complexity of capturing, routing and approving invoices, wherever they originate.

Removing cost, risk and complexity from invoice processing

According to Forrester Research, Accounts able has a high cost per transaction, as high as £10 per invoice in some organisations. 97% of invoices are still processed manually, and at least 2% contain an error, providing potential for cost saving and improved productivity.

We can help you transform your existing processes to be more efficient, secure and cost-effective – without significantly changing the way people work. You can reduce invoice processing time, helping your organisation secure early-payment discounts and improve vendor relations, and freeing up your staff to work on other business-critical activities. Your processes will now be documented and repeatable, simplifying audit response and giving you greater oversight into process bottlenecks or inefficiencies.

Our solutions for invoice processing enable you to:

  • Capture invoices from disparate sources including mail, multifunction printers (MFPs), fax, email, and other electronic sources.
  • Eliminate the cost, risk and delay of shipping hard-copy invoices to central processing facilities.
  • Extract invoice data and pre-populate it in your AP system.
  • Route invoices to the appropriate person – manually or automatically – for approval.
  • Effectively manage vendor relationships with unified access to invoice and payment history.
  • Eliminate costly file cabinets and offsite storage.
  • Cut copying and printing “footprint” through digitisation.

Invoice Processing Self-Assessment

  • How many invoices do you process each month?
  • What are your true costs per transaction, including personnel time, transportation, storage and duplication/copying?
  • How much geographical or business unit variance exists in your invoice approval processes?
  • What are your data entry error rates, and how do they affect process efficiency?
  • Do you routinely miss payment discounts?
  • How likely are you to fail an audit of your AP process?
  • How long does it take to update the centralised AP system to adapt to regional or departmental process changes?

Capture and process invoices from all sources
Inbound invoices from a variety of sources including MFPs, local scanners, fax, e-mail or other electronic systems, can be captured, digitised and “normalised” so they are processed in a consistent manner. Invoices can be captured at the point of receipt, or routed to a central location for capture.

Extract and validate key information in seconds
Intelligent document recognition with OCR automatically extracts critical data such as vendor name and invoice amount directly from the scanned invoice. An automatic database lookup can retrieve information such as Vendor ID or Project Code from the ERP system. Scan operators or entry-level employees can perform a visual inspection of the scanned image to validate the information has been correctly extracted from the invoice.

Route for review and approval – manually or automatically
Invoices can be routed to the appropriate individual or group based on pre-determined criteria. For instance, invoices over a certain amount may need additional review and approval steps. Invoices associated with a specific project or vendor may flow through a fully-automated workflow, with payment requests initiated in the ERP system once the invoice has been scanned and validated.

Flexible, dynamic solution for distributed invoice processing
With the Key Digital solution, each group or regional office can have their own fully-customised approval workflows that get initiated by local workers, greatly streamlining the AP process while still leveraging corporate AP infrastructure and policies. Additionally, invoices can be reviewed and approved from any location, via web browser or mobile app (iPhone and Android).

Fully integrated digital archive
Once processed, invoices are stored in a secure digital archive, directly connected to the AP system, so any authorised user can quickly search on and retrieve invoices, from any browser. The archive greatly simplifies reporting and audit support, and can be tied to a records management system for document disposition at the appropriate time.

Transform the way invoices are handled across your organisation

Line of business and distributed departments receive invoices via mail, fax, email, and other electronic formats, and spend a significant amount of time and labour processing them locally, or sending them to a centralised Accounts Payable department. Key Digital’s solutions for invoice processing help significantly reduce the time, cost, risk and complexity of capturing, routing and approving invoices, wherever they originate.

Removing cost, risk and complexity from invoice processing

According to Forrester Research, Accounts able has a high cost per transaction, as high as £10 per invoice in some organisations. 97% of invoices are still processed manually, and at least 2% contain an error, providing potential for cost saving and improved productivity.

We can help you transform your existing processes to be more efficient, secure and cost-effective – without significantly changing the way people work. You can reduce invoice processing time, helping your organisation secure early-payment discounts and improve vendor relations, and freeing up your staff to work on other business-critical activities. Your processes will now be documented and repeatable, simplifying audit response and giving you greater oversight into process bottlenecks or inefficiencies.

Our solutions for invoice processing enable you to:

  • Capture invoices from disparate sources including mail, multifunction printers (MFPs), fax, email, and other electronic sources.
  • Eliminate the cost, risk and delay of shipping hard-copy invoices to central processing facilities.
  • Extract invoice data and pre-populate it in your AP system.
  • Route invoices to the appropriate person – manually or automatically – for approval.
  • Effectively manage vendor relationships with unified access to invoice and payment history.
  • Eliminate costly file cabinets and offsite storage.
  • Cut copying and printing “footprint” through digitisation.

Invoice Processing Self-Assessment

  • How many invoices do you process each month?
  • What are your true costs per transaction, including personnel time, transportation, storage and duplication/copying?
  • How much geographical or business unit variance exists in your invoice approval processes?
  • What are your data entry error rates, and how do they affect process efficiency?
  • Do you routinely miss payment discounts?
  • How likely are you to fail an audit of your AP process?
  • How long does it take to update the centralised AP system to adapt to regional or departmental process changes?

Capture and process invoices from all sources
Inbound invoices from a variety of sources including MFPs, local scanners, fax, e-mail or other electronic systems, can be captured, digitised and “normalised” so they are processed in a consistent manner. Invoices can be captured at the point of receipt, or routed to a central location for capture.

Extract and validate key information in seconds
Intelligent document recognition with OCR automatically extracts critical data such as vendor name and invoice amount directly from the scanned invoice. An automatic database lookup can retrieve information such as Vendor ID or Project Code from the ERP system. Scan operators or entry-level employees can perform a visual inspection of the scanned image to validate the information has been correctly extracted from the invoice.

Route for review and approval – manually or automatically
Invoices can be routed to the appropriate individual or group based on pre-determined criteria. For instance, invoices over a certain amount may need additional review and approval steps. Invoices associated with a specific project or vendor may flow through a fully-automated workflow, with payment requests initiated in the ERP system once the invoice has been scanned and validated.

Flexible, dynamic solution for distributed invoice processing
With the Key Digital solution, each group or regional office can have their own fully-customised approval workflows that get initiated by local workers, greatly streamlining the AP process while still leveraging corporate AP infrastructure and policies. Additionally, invoices can be reviewed and approved from any location, via web browser or mobile app (iPhone and Android).

Fully integrated digital archive
Once processed, invoices are stored in a secure digital archive, directly connected to the AP system, so any authorised user can quickly search on and retrieve invoices, from any browser. The archive greatly simplifies reporting and audit support, and can be tied to a records management system for document disposition at the appropriate time.