Process and Access Your Accounts Payable
Online from Anywhere
Accounts Payable Automation gives companies the ultimate management tool to get great control, access and visibility into their AP process and liabilities. Gone are the days of trying to track down invoices when you receive the dreaded call from one of your vendors wondering where their payment is. No longer will you be paying late fees or making duplicate payments.
By automating, all invoices, purchase orders and receiving documentation will be stored in one central location that can be accessed by anyone in your company who is given access to your AP Automation solution.
Moving invoices through your workflow for account coding and commenting is quick and painless. Invoices can be re-directed from one person to the next by clicking a button, even if they are located in a different state, province or country!
Bean offers an Auto-Capture service which eliminates most of the labor intensive manual data entry of today. Imagine receiving an invoice with 80% of the coding process already completed for you. Set up Smart Coding to automatically assign the GL or Cost Code and the coding process is virtually non-existent.
Jillian Barrow – Accounting Manager
Now it is time to track down the approvers for their sign-off… at times a challenging task. With Beanbills, approvers receive an email link to the invoices that need approval. They can click on the link and go into Beanbills and approve their invoices. Managing the approval process becomes much easier for the finance department.
Beanbills syncs back to your accounting/ERP system all of the accounting details on all approved invoices.
With Accounts Payable Automation you have the power to access your information from anywhere. No longer is there a need for couriering invoices back and forth between offices or locations.
On a business trip and need access to AP invoices or reports? As long as you have Internet, all your AP documents and supporting reports are available through Beanbills Cloud based AP Automation solution. And, no longer do invoices get lost in transit. You can see their progress from start to finish throughout the entire workflow.
Immediate Cost Savings
According to an Aberdeen Group study in August 2010, the average company spends about $16.50 to process each invoice from procurement to payment. According to the same study, by automating your AP, processing costs are reduced as low as $4.84. With this reduction in costs, you can reallocate resources to more strategic business initiatives. Eliminate storage costs, couriering costs and capture all available discounts while eliminating late fees and duplicate payments.
Decrease Processing Time
Having the ability to process an invoice through the entire workflow in a matter of days versus weeks or even months, improves your vendor relationships – leverage those relationships to negotiate early payment discount terms. The Aberdeen Group Study found that the average processing cycle of small to medium sized companies was between 15.9 – 17.9 days. The study found through automation, invoices can now be processed as quickly as 3.71 days!