PROACTIS Unveils Next Generation 'Intelligent Invoicing' Software
PROACTIS, the software specialist in Spend Control and eProcurement, today announced availability of a new software application, PROACTIS Intelligent Invoicing. Able to link with the latest PROACTIS Purchase-to-Pay applications and/or any Finance or ERP system, payables technologies or myriad of supplier channels, it is designed to streamline and automate purchase invoice management; saving time and money on processing, administration and audit.
Processing of supplier invoices, from receiving an electronic or physical document, through data entry, checking, matching, coding, authorisation and posting into the ledger is traditionally an enormous day-to-day administrative activity that takes a lot of effort without delivering any real value for a company. PROACTIS' Intelligent Invoicing software uses the latest technology advancements and has been designed to help automate the purchase invoice management procedure beyond the capabilities of existing electronic invoicing technologies.
"Purchase invoice management is a process mired by inefficiency and can be a significant drain on profits. Add to this cost in terms of business reputation including lost purchase orders, inability to pay suppliers on time and duplicate invoices that lead to lengthy disputes, plus inability to exploit early settlement discounts and it is a major problem for many organisations; even with modest purchase invoice transaction volumes," said Rod Jones, CEO of PROACTIS.
"PROACTIS Intelligent Invoicing solution is designed to reduce the drain on resources and to improve financial controls, workflow efficiency and accuracy, and streamline authorisation processes. It offers customers a 'quick win' for reducing the costs of invoice processing and opportunities to improve trading processes with key suppliers."
Built using the latest web technologies, PROACTIS Intelligent Invoicing incorporates
- The ability to connect to any choice of supplier channels (OCR, XML, Self Billing, Payment Cards, PO Flip etc.) to create a single interface to your business
- A next generation 'Learning Engine' capable of building up knowledge of finance codes and procurement classifications etc. from the outset and applying them against future consolidated bills ready for approval
- Highly intelligent invoice processing that enables companies to receive, reformat, apply rules and match invoices and offers seamless approval and exception workflow
- Sophistication in processing complex invoices such as utility bills (Telephone, Gas, Water, Electric etc.)
PROACTIS Intelligent Invoicing advancements include:
- Intelligent adapters that take away the requirement for suppliers to deliver data in a certain format
- Advanced matching that reduces the pressures of troubleshooting and the management of exceptions
- A web driven workflow engine to support the management of multi-stage and parallel business processes
- Extensive document lifecycle management
- Contract matching that allows 'untouched' invoices to be processed with confidence
PROACTIS Intelligent Invoicing offers the capabilities necessary to make eInvoicing a spend control reality for organisations, while significantly reducing the administration burden on Accounts Payable.
