Power of PAYBOX®
Why SAP Accounts Payable Workflow Management Matters
Electronic invoicing is an essential part of the purchase-to-pay (P2P) cycle—a key ingredient in the effort to create a fully automated Accounts Payable (AP) environment that moves closer to straight-through-processing (STP) and minimizes human intervention across the AP cycle.
Importantly, electronic invoicing is a complementary value-added service to an organization’s legacy enterprise resource planning (ERP) solution. The technology helps “humanize” the data in an ERP system, such as those from SAP, providing AP departments with improved capabilities for accessing, reading, updating and processing data. These types of activities often are restricted in many ways by the way an organization’s IT department implements ERP for the AP department. Electronic invoicing provides an easy-to-use “dynamic buffer” to an otherwise complicated ERP environment.
Direct Insite’s PAYBOX® e-invoicing platform provides additional benefits for ERP users:
- Lower transaction costs: The elimination of manual tasks such as data entry lowers the per-transaction cost of AP processing for SAP users.
- Faster processing times: By combining the benefits of electronic invoicing and automated workflow matching, Direct Insite’s SAP workflow management platform provides faster turnaround, enabling organizations to capture more early-payment discounts.
- Streamlined workflows: In large organizations, AP efficiency often boils down to the ability to route invoices to the right stakeholders at the appropriate times. PAYBOX® manages Level of Authority (LOA) information (including information from third-party solutions) to make sure that invoices are routed as accurately and efficiently as possible.
- Better document control: The absence of paper documents exponentially increases the security of sensitive documents (chain of custody), ensuring that the wrong people don’t have access to protected information.
- Fewer lost or misplaced documents: Opportunities for misplaced, misfiled or lost documents are virtually eliminated with electronic invoicing. Similarly, PAYBOX® provides improved financial supply chain visibility.
- Improved regulatory and contract compliance: PAYBOX® facilitates three-way matching and aggregated information storage and access, dramatically improving compliance and reporting across the enterprise.
- Increased supplier satisfaction: Direct Insite’s PAYBOX® platform has been shown to improve supplier satisfaction by providing a streamlined invoicing ecosystem.
- Ability to focus on core business activities: One of the most important outcomes of Direct Insite’s e-invoicing solution for SAP users is that it enables your staff to focus on core business activities rather than mundane paperwork requirements.
Direct Insite’s PAYBOX® electronic invoicing platform streamlines and simplifies AP workflow management by providing seamless, real-time integration with SAP ERP solutions.
An extension of the capabilities provided by an SAP ERP solution, PAYBOX® is a robust platform for approving invoices, resolving disputes, managing exceptions and performing other processes that are critical to the integrity of your organization’s accounts payable cycle.
From start to finish, PAYBOX® automates SAP AP workflow management.