Financial Information Management
Managing Invoices Is Your Challenge
Manually handled, an invoice can cost between $15 and $50 to process. Clearly, manual invoice processing and data entry are costly and time-consuming. The manual process can easily cause invoices to be overlooked and go unpaid, be double paid, or be lost completely. We all know the costly and embarrassing consequences of improper invoice management!
Effective Financial Management
Financial documents and processes are definitely key factors in any business. Your billing and invoice software should help you easily create (or capture) invoices, as well as initiate and track the whole approval and payment process. It should optimize and automate you work with accounts payable/ receivable and match them against purchase orders (PO’s). The solution should guarantee against duplicate or overdue payments and empower you with most efficient tools to generate various reports to analyze the financial transactions. Finally, the software should be easy to use and, which is really vital, it should ideally fit your very specific enterprise requirements (processes, standards, etc.).
As a key business process, invoice management has a direct impact on organization efficiency. To attempt to effectively deal with the task, accounts payable (AP) departments seek creative and innovative invoice software.
Orienge Accounts Payable and Invoice Management Is Your Solution
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Orienge solution for managing invoices and accounts payable streamlines the critical business process from document capture to final payment. |
Conterra brings even more speed, flexibility, and efficiency to your AP department. By integrating Conterra with document capture and OCR (optical character recognition), we provide users with bulk invoice capture and automatic sorting and preprocessing on top of the robust invoice search and related document retrieval functionality.
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With Orienge software, invoices are reviewed and approved quickly and easily. |
What this means for your organization is that your AP specialists can quickly register an invoice. They can at any point (then or later) quickly pull up any related agreements/contracts to verify correct terms, check compliance, and schedule payment. In addition Conterra enables a host of other important actions: transfer data to your ERP system, enforce document retention policies, and fully monitor the accounts payable process as defined by your organizational policies, etc…
The Orienge Accounts Payable and Invoice Management solution allows you to:
- streamline the invoice review and approval process
- automate invoice capture and registration
- quickly search for invoices and the corresponding agreements/contracts
- analyze invoice compliance with budgets and contract terms
- securely archive important financial information
Your organization will benefit by a more cost effective AP process: accelerated handling time, reduced risk of paying the wrong amount, reduced costs by eliminating storage of unneeded records, increased security, and the knowledge that you will only have to address invoice issues once.
All of this translates into greater peace of mind for all connected with the AP process, from the AP clerk to the CFO.
| Watch the video demonstration and get started with Orienge Accounts Payable and Invoice Management, powerful software to optimize your business. |
Time, Money & Efficiency are Your Benefits
To help evaluate your Accounts Payable and Invoice Management software effectiveness we have quantified the following performance indicators based on client experience:
- Payment approval processes time is
more than CUT IN HALF.
Payment processes are more consistently managed. Organization process logic and rules are predefined, every step has a deadline, and the performers are substitutable. Payments lists are created automatically. Accounts payable can now fly through the approval process secure in the knowledge that scheduled payments are accurate and correct. - The waste caused by overdue payments
decreases by 80%.
Payment approval processes are managed effectively and efficiently, guarding against possible penalties. - Document search and retrieval time
is exponentially decreased by a factor of 10.
With the powerful Conterra search engine and ERP system integration, accessibility soars by 10X. Users can find a required document by its attributes, part of the text, or the powerful full-text search relevance. - Off-site document storage costs are
reduced by 90%.
Stored in Conterra, electronic copies of documents are accessible 24/7. Retrieval of documents from off-site storages is reduced to an absolute minimum and so are your associated costs. - Invoice management processes Total
Cost of Ownership is decreased by up to 70%.
With all the solution implementation effects, the TCO of your invoice software drops.
Orienge Case Study for Managing Invoices and AP
Enhancing invoice review and approval processes in a company providing municipal facilities services. Automated accounts payable processing and invoice management, unified business processes for users in several remote offices. About 100 specialists working in the ECM system, including top managers.