Futura supply and support a broad range of business software to improve efficiency. The ability to capture and scrape data from paper or digital documents dramatically reduces manual data entry. Digitising paper documents helps to get a paper-based process into the digital world quickly and efficiently.
Automating the invoice receipt process is one of the quickest ways to get bang for buck in a typical organisation. Additional accounts payable workflow technology can round out the offering. This is the most commonly-adopted solution due to the significant efficiencies it realises.
By adopting an Accounts Payable Automation Solution your organisation is able to:
Unbelievably, only a small percentage of organisations in Australia are at this level. Why is this?
This solution is here, and hundreds of Australian businesses are already reaping the benefits. Solutions that dramatically reduce human intervention mean an incredibly quick return on investment. Typically, a good Accounts Payable Automation Solution will reduce the work of four full-time employees to that of one – and all, generally, for less than the cost of one full-time employee. Futura’s experience in the area means that implementation time is typically within a calendar month, and requires very little interruption or input from the client. As for changing current procedures, that’s just moving with the times!
Futura will implement an Accounts Payable Automation Solution that meets your organisation’s specific requirements.
Typical Accounts Payable Solutions include a variety of the following:
Invoice Capture Automation – Most businesses receive a majority of invoices via email with an ever-shrinking percentage via traditional mail. Either way, our solution automatically receives invoices from email and our scanners handle paper invoices.
Intelligently Extract Data – Capture data from within a document – from header and footer information through to line item extraction.
Accounts Payable Workflows – Dramatically reduce time and cost from the Accounts Payable approval process by implementing Accounts Payable Approval workflows.
Purchase Order Matching – If your organisation utilises purchase orders, our solution will match any incoming invoice to a purchase order within your Enterprise Resource Planning or finance system.
Integrate Enterprise Resource Planning or finance systems – The efficient way of removing human intervention is to have the solution perform lookups. This can be done via an Application Programming Interface or flat file transfer.
Essentially this is the same as Accounts Payable, but in reverse. Businesses prefer, however, to chase money owed than money out! There are a few features that differentiate an Accounts Receivable Automation Solution.
Our system will be able to match
a proof of delivery with a
purchase order and a payment
receipt to complete the cycle
from order received to delivery
of goods. This enables flags to be
raised when payments become late,
or to alert customers to early-
payment discount due dates.
Enterprise Resource Planning
This is even more prevalent in an
Accounts Receivable Automation
Solution due to the movement of
stock. Our system is able to
efficiently request data from an
Enterprise Resource Planning
system at any stage of the process.
Our solution enables the ability
to invoice without thinking. It
will generate an invoice upon
receipt of a purchase order and
can take into account multiple
price and discount options.
The smartest way to avoid your business moving at the speed of paper is to remove it!
When you think of how commonly transactions take place on the internet – from making a booking or online purchase, through to requesting information – the user completes a form in which they enter data and push submit. Paper documents are not required in this process and subsequently all of these inefficiencies are removed.
Paper-based forms used in organisations today are expensive, time consuming, and out of touch with the technology we are accustomed to in our everyday lives. Why is it that we can order a coffee with a touch of our phones, yet have to stamp, sign and authorise an invoice, for example?
This is where Futura’s simple web form solution can help. By enabling users to complete information, authorise, sign and move forward in a web form with workflow solution. This alleviates the need for paper, and the manual data entry that goes with it.