What are the 3 components of AP automation?
You probably have the first component – an ERP system. With ELO, you get other two, document management and workflow, in one unified system.
ERP / Accounting
ERP or accounting software is the system of record for customers, vendors, products, raw materials, and more. ERP manages and controls business transactions from start to finish
A document management system (DMS) is the system of record for business documents and records. As part of AP automation, it manages invoices received from vendors
Workflow enables process automation and integration between systems. As part of AP automation, it controls AP review and approval processes, and manages the ERP to DMS communications
Key accounts payable automation features
Your ERP or accounting system is not a document management system. So you need a system that can handle the paper and electronic invoices that you deal with on a day-to-day basis—but that system must integrate with your existing ERP or accounting system maximum effectiveness and efficiency.
Start tracking invoices as soon as you receive them using workflows in ELO. Capture key dates, amounts, and terms and then continue tracking your invoices through the approval and payment process. Use ELO to create simple but powerful invoice workflows.
EXTRACTION AND IMPORT
ELO uses intelligent data extraction to recognize key fields on your invoices, like invoice number, company name, terms, etc. You can even monitor and email inbox for incoming invoices and then automatically import them for processing.
Paper…If scanning is part of your invoice management process, use ELO to make the process faster and more accurate. Built-in OCR makes it easy to point-and-click data fields and transfer information to custom invoice forms. Batch processing and Barcoding are standard.
Track your invoices using dashboards and reports. Know where invoices are in the approval process and when they’re due. With mobile approvals, alerts and spreadsheet-like filtering capabilities, it’s easy to see your cash flow.
When you have thousands of invoices per month, you need ELO Enterprise. ELO workflows integrate with the master data stored in your SAP, Microsoft Dynamics – BC, NAV and AX – or other ERP system to sync customer, vendor, and invoice data automatically.
SMALL BUSINESS ACCOUNTING
Use QuickBooks Online? The Ovitas QuickBooks Connector for ELO Professional keeps your invoices, vendors, and customer information in sync. Add to ELO, it syncs to QuickBooks Online. Add to QuickBooks, it syncs to ELO. Integrate, don’t duplicate!
Get AP automation for your business
No matter what ERP or accounting software you use, accounts payable automation solutions from ELO and Ovitas make your AP process more efficient. From review to approval to archiving.
If you’re using SAP S/4 HANA or ECC and need a powerful but reasonably-priced document and records management system, you need ELO Suite for SAP ArchiveLink® – an SAP-certified connector between your master data, business transactions and documents.ELO for SAP Brochure
Too big for QuickBooks but too small for SAP? Let the Ovitas i-Link for ERP connect ELO with your Microsoft Dynamics Business Central, Navision, or AX ERP system. Two-way integration keeps your master data synchronized, saves time, and improves quality.Document Management Features
Using QuickBooks Online and have a lot of paperwork? Use Ovitas i-Link QB for QuickBooks Online to make your AP process more efficient. Plus store just about any kind of document you need to manage in your business. And like QuickBooks Online, i-Link QB is in cloud.Cloud Content Management