Smarter accounts payable your way


Reduce scanning and manual entry

How much time do you spend addressing errors? Processing incoming invoices involves scanning piles and piles of paper every month. Then you have to enter every invoice scanned in the system, either through OCR, manual data entry or both. This process is error-prone and results in inaccurate data being input into your systems. These inaccuracies are responsible for irretrievable documents, delays in processing, overpayments and late payments.

With OL Connect, stop paying for your mistakes!

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Automate the validation of your documents

A typical Accounts Payable employee manages about 20 invoices a day, and each invoice costs $17 to process! What often takes the most time and costs the most money is validating all of the billing documents. The three-way match significantly slows things down. You don’t have any way of comparing documents (other than one invoice at a time) or checking whether the amounts and details match.

With OL Connect, speed up your validation process with accuracy!

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Increase invoice processing speed

Did you know that a typical accounts payable department takes up to 16 days to process an invoice? Yet some suppliers may stop doing business with you if they constantly have to chase your payments. That can be harmful if you depend on those suppliers for your production. But if you have a good relationship with your suppliers, you may get discounts for paying early.

With OL Connect, you can manage your cash flow more proactively!

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Switch to digital archiving

According to the Aberdeen Group, 80% of supplier invoices are still paper-based. Even when invoices arrive digitally, most organizations continue to print them. Paper documents circulate in the organization and are often misfiled and even lost. It is very difficult to ensure adequate tracking of an invoice’s status with paper. You spend more time figuring out who has the invoice than actually processing it.

With OL Connect, you’ll never lose track of your invoices!

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  • Reduce scanning and manual entry
  • Automate the validation of your documents
  • Increase invoice processing speed
  • Switch to digital archiving
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How a flexible AP process works

print

Your suppliers print their invoices to a virtual printer or send them by email. OL Connect captures the invoices BEFORE they are printed, without scanning or OCR.

OL Connect capture and extract

Extract data from invoices without scanning or OCR, without keying in information and with 100% accuracy, thanks to some unique data mapping capabilities.

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Automatically publish inbound invoices to your ECM system, complete with indexing information. Automate the approval workflow.

match

Compare the transaction line item details with the original purchase order and delivery note in the system. When everything matches, release the payment. Handle only exceptions.

communicate ap

Put in place a communication workflow to ensure everyone is in the know, in real time. Notify your manager when a situation requires attention or automatically send payment information to your supplier by email.

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Want to learn how to optimize your accounts payable processes one step at a time?


Samples

User interface
  • Your suppliers print their invoices as usual
  • A simple printer driver acts as a virtual printer and delivers the invoices securely over the web without complex implementation, system changes or custom development.
  • No extra cost
  • No changes to the way they work
  • Your suppliers have the added benefit of saving on paper and postage
user interface experience
  • Line item details are extracted for accurate reconciliation
  • This process does not use OCR and data is therefore 100% accurate
  • Extract metadata for indexing information:
    - Invoice number
    - PO number
    - Supplier address

Let us know how we can help.

We are well aware that every organization has its own specific circumstances. We would be happy to get to know you and come up with a personalized solution.

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