0 Invoices per year
CoreIntegrator Enterprise is a powerful automation solution designed for enterprise-sized businesses and organizations that process over 10,000 invoices per year. CoreIntegrator Enterprise can also be enhanced with OCR technology for increased efficiency.
How much can you save with AP automation? Our AP automation cost saving calculator will tell you! Use the slider to increase the number of invoices your company processes per year.
AP Automation at the Enterprise Level
As you can see, your company or organization will achieve considerable savings by automating your Accounts Payable tasks.
You will save time, resources and money with electronic invoice processing, filing and retrieval. Automating and digitizing invoice approvals means no more chasing managers around for approval. And approvers love the ability to see and approve invoices with a single click on any device from anywhere in the world!
How much does AP automation save? Industry estimates for savings range from $3 per invoice to more than $9 per invoice.
For the purpose of this AP automation cost savings calculator, we are using a conservative estimate of $4 in savings per invoice when using an AP Automation solution.
AP Automation Savings Multiply by Implementing OCR
Adding Optical Character Recognition (OCR) technology to your AP automation solution multiplies your savings. OCR saves data entry time by automatically capturing key information from each invoice and entering the data for you.
Or, for even more efficiency you can add the CoreIntegrator Verified AP Data Capture Service for nearly 100% accurate data capture and verification.
How much does AP automation with OCR save?
For the purposes of this cost savings calculator, we are using a conservative estimate of $6.00 in savings per invoice when using OCR combined with an AP Automation solution.
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Introducing Smart AP
What if CoreIntegrator could learn how you process your invoices and do all that work for you?
Well now it can with Smart AP robotic process automation.
Smart AP is a configurable tool that lets you teach CoreIntegrator to automatically fill in data fields for you based on certain key values.
For example, if your FedEx invoice always goes to “Bob” in the shipping department and the invoice is always coded to the same GL account number, once you’ve entered in the vendor information and the basic invoice detail (invoice date, number and amount) – our robotic process automation auto populates the rest of the fields based on how you processed the invoice the last time.
At CoreIntegrator, we’re constantly looking for ways to make your life easier and more productive.
How it works…
CoreIntegrator Enterprise automates a great deal of the effort to process, track, monitor and get invoices approved.
But there is still a great deal of data entry and repetitive work that needs to be done to process an invoice.
Some of our customers have as many as 13 fields (or more) that require some form of data entry. PLUS you have the GL coding on top of that, which can be anywhere from 2 to 4 fields (or more) per distribution. In addition, depending on your workflow rules, you still need to figure out where each invoice goes for approval.
Smart AP robotic process automation is always paying attention to how you process invoices and is constantly learning.
Smart AP memorizes how an invoice was processed previously. Once you enter an invoice once, the system knows how to do it the second time. It knows exactly what GL code it needs to go into. Smart AP learns how to automatically process repetitive invoices.
But maybe you have an invoice from a vendor that doesn’t always go to the same department for approval – no problem, just select the correct department and CoreIntegrator will determine the appropriate approver AND modify the GL account to reflect the different department approving it.
And what if you have multiple GL distributions? Again, no problem. Smart AP will calculate the distribution amounts based on a % of the total to be distributed – the same % split you used the first time. Of course you can edit the amounts at any time.
With Smart AP robotic process automation you have the ability to change what has been learned at any time. Or skip one time changes. Or if an invoice never has a consistent pattern to how it is processed, you can even turn the learning function off for that particular vendor.
Smart AP is configurable AP automation that just works.