Frequently Asked Questions (FAQ’s) About Accounts Payable Automation

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With the digital age, more and more companies are hosting events online that used to be held in hotels and conference suites around the country. Automation, digitalization etc. are no different. Giving people a chance to log in wherever they are and keep up to date with the latest technology not only reduces the cost and time impact on business, but creates greater flexibility for attendees.

At ITESOFT we have been running webinars for many years, in the last few years these have become the primary way in which we engage with business’ around the United States. As every one of our webinars is live, attendees have the opportunity to ask our experts questions, and receive answers. The following are a handful of the questions that crop up most often.

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Q:How many languages are supported by the platform? (Ed. Can ITESOFT read invoices regardless of their language?)

A: ITESOFT product suite is built on a Unicode base, what this means for our clients is that we are able to capture, read and process any incoming document regardless of language. As standard, the solutions come with language packs for all Latin based languages, simplified Chinese and simplified Russian.

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Q: Can the system pick up settlement discounts being offered on an invoice? (Ed. Can ITESOFT pick up on early payment discounts?)

A: Yes, in fact this feature is fast becoming more and more important to corporations looking to turn their finance functions from a cost centre into a profit centre. This is a standard function within the system, and can generate real revenue from day 1 of product launch.

 

Q:What is the average set up and implementation time?

A: We love this question, is there such a thing as average? Traditionally we would have said not, with on-premise technology and real time integration, combined with every company having its own processes to be mapped, projects were an ever evolving thing. However, with the advent of cloud technology, and ITESOFT’s latest offerings around Capture as a Service (CAAS) we have this down to a fine art. Any business that wants a fully hosted solution can now be live in days, with gap analysis following product launch.

 

Q: Is there a supplier portal?

A: Yes, ITESOFT product suite includes a fully integrated supplier portal. Not only does this allow your suppliers to upload a copy of an invoice as an image (PDF etc.) or allow them to manually key details in, it also allows them to interact with your company. Suppliers can be given visibility of the status of a given invoice (Received, Processed, Pending etc.) and this visibility is determined by what insight you would like to give them. Alongside this, you can offer a chat function to your suppliers, reducing the number of incoming enquiries by telephone, allowing them to communicate quickly and effectively with your team.

 

Q: Would all purchase invoices need to be in a specific format? (Ed. Does ITESOFT use templates?)

A: No, there is no need to set up different templates for each of your suppliers, this is time consuming, technically challenging and prone to error. Imagine you have a few 0000 suppliers, a template for each, and that template has to be updated every time they change the format of what they send you!? So, alongside no templates, there is no need for batch preparation if you are still scanning pieces of paper, ITESOFT reads the whole document so can pick up the start and end of every invoice.

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Post by John Stovold