Accelerate Invoice Processing with AcceLIM

Most companies process their invoices manually. Manually entering invoice data into your enterprise system is costly and time consuming. Automating the process with Forms Processing and OCR technology is expensive and difficult to setup. Using AcceL-I-Match technology, information is transformed directly into your Enterprise system, saving you money and time.

Using AcceLIM you can:

  • Shorten total processing time

  • Decrease costs and increase productivity

  • Gain early notification of errors

  • Improve control of cash flow

Challenges in Invoice Processing

Manual invoice processing is time consuming; archiving invoices is cumbersome and speedy retrieval of a specific invoice virtually impossible. According to an IOMA study conducted in 2003 (A/P Department Benchmarks and Analysis), the average accounts payable department takes 6.8 days to process an invoice.

Manually processing invoices is also expensive. On average, an invoice costs $15-$50 to process. It has to be sorted, registered, keyed into a computer and archived, all by hand. Each step adds to the cost.

Manual invoice processing is vulnerable to human errors. Even the best operators make occasional mistakes. If not immediately rectified, backtracking steals valuable resources. Delays are not unusual (somebody might be absent or too busy), and an invoice might even be misplaced or lost.

The AcceLIM Solution

AcceLIM serves as a thin layer between your suppliers and your purchasing and accounting people, and their existing computer systems. AcceLIM uses the original purchase order as the master, identifying and matching all incoming invoice information—regardless of source—against the original. The majority of your transactions without exceptions (i.e. you ordered eight, received eight, and were billed for eight) require that no data be keyed. The master data is simply converted into native business objects. AcceLIM's AcceL-I-Match technology quickly finds all instances where the expected doesn't match what's happening. When an exception or discrepancy does occur, key people are alerted and all of the information is presented via a web portal. AcceLIM is able to find virtually all exceptions in real-time, providing you timely, complete and accurate exception handling.

Benefits of the AcceLIM Solution:

Reduced invoice-processing costs
The cost of manual labor drives up the price for manual invoice processing. AcceLIM uses the right balance of technology and manual labor, delivering quality information into your Enterprise systems at a low cost.

Reduced Retrieval Time
AcceLIM classifies and indexes all documents that pertain to an order, regardless of source, and stores them electronically in your enterprise system. Paper-based sources of information such as packing slips, bills of lading and invoices, as well as electronic formats such as email, XML and EDI are available within seconds, not hours or days.

Ability to attain early payment discounts
Earning discounts for early payment is a sure way to minimize costs. AcceLIM quickly identifies invoices and extracts required information so your Accounts Payable representative can quickly settle the account and gain the discount.

Increased security
AcceLIM provides automatic input from any invoice source directly into your ERP (Enterprise Resource Planning), Administration or Workflow system. Advanced validations against information in your ERP system increase the accuracy and security of the process.

Flexibility
Any type of invoice may be interpreted: electronic or paper, single sided or double sided, black and white or color, letter, legal or A4; any invoice you receive will be passed on to your system. Any number of invoices can be processed.

Neutralizes the medium
Communications enter your organization through multiple avenues: mail, fax, email and EDI. AcceLIM transforms all communication into standard data, ready for processing.

Integrates into your existing systems
AcceLIM delivers the data in XML or other industry standard formats, reducing integration costs.

Why AcceLIM?

AcceLIM provides you with more efficient and effective invoice processing.

AcceLIM eliminates the need for manual invoice processing and delivers quality information in a timely fashion to your accounts payable personnel. We extend beyond purchasing or ERP software –- we’re not only compatible with whatever IT infrastructure you have in place, we’re complementary, giving you maximum ROI on your existing software and hardware investments.

AcceLIM utilizes a ‘pay as you save’ model. We work with you to solve your most difficult order management issues, uncover the cost of each transaction, and then deliver your savings.

Best of all, AcceLIM will help you focus more succinctly upon your core business.