Accounting Automation

Expedite and Streamline Accounts Payable Invoice Approval & Processing

Invoice Approval Processing – With OCIE, vendor invoices are instantly available throughout the review, approval, and payment process. Upon upload, OCIE can automatically route A/P invoices to the appropriate person for approval and G/L coding. If necessary, users have the ability to electronically route an invoice to other staff members by simply selecting a person to review the information. To streamline the approval process and empower users with the ability to make decisions immediately, OCIE can provide access to all supporting documentation associated with the A/P invoice. After documenting the approval or rejection, A/P invoices can be automatically routed to A/P personnel to complete the next step in the process. Once the invoice has been processed for payment, additional documentation and information such as the check image, check date, and check number, can be uploaded to OCIE to complete the payment history.

Streamline Matching Process – Utilize OCIE to easily review documents electronically, such as purchase orders, shipping receipts and vendor invoices, required for matching. With additional custom programming, OCIE may be used to streamline the matching process by matching PO data to receipt data and converting vendor invoices to electronic format. When exact matches are met, OCIE can pass the data directly to the ERP system and A/P processors can work on just the invoices that fail the matching criteria. Within OCIE, A/P processors can generate emails related to payable discrepancies to a vendor, with or without attachments of supporting documentation and vendors can be directed to OCIE to view the documents associated with the discrepancy.

Invoice Submission and Data Capture – A/P invoices can be uploaded to OCIE via a scanned document, email or fax. With custom programming and setup, OCIE can deploy a combination of OCR, automated indexing from source information, and validation to capture predetermined invoice data and G/L codes. Invoice data typically includes, invoice number, invoice date, invoice total amount, vendor name, point of contact, PO number, line number, item/stock number, item/stock description, quantity, unit price, and line item amount. With final approval of the captured invoice data and G/L coding, OCIE can help streamline invoice posting by generating an EDI output file that can be sent to your company’s ERP or A/P system.

Vendor Portal – With OCIE, you have the option of incorporating vendor interaction into your accounts payable work-flow. By granting authorized vendors secure, log-in access, they are able to check on invoice status and payment information associated with their documents; including check date and number. This allows vendors to access information 24/7 without tying up valuable A/P staff time.

Usage of OCIE in Accounts Receivable

Paperless Accounts Receivable Department
OCIE provides immediate and full visibility to all related Accounts Receivable documents; providing your staff with the ability to resolve disputes more quickly, improve customer service, recover lost revenue and increase staff efficiency. With OCIE you eliminate the need for physical paper storage by taking documents out of the back office filing cabinets and making them instantly available to authorized users from any desktop.

Improve Efficiency of all A/R Processes
OCIE can help streamline or generate efficiencies in manual activities related to order entry, credit facilitation, invoicing, dispute resolution, proof of delivery and collections management. OCIE can capture documentation related to these activities and incorporate the information into predefined business workflows for automated document routing, electronic customer notification and improved customer service.

Electronic Order Capture & Routing
Use OCIE to capture orders electronically from your accounting system for archive, distribution and vendor access. Upon upload, OCIE can automatically index and route the order and supporting documentation through the order process – from order entry, shipping and to accounting for billing.

E-Invoicing / Customer Portal
Use OCIE to eliminate the costs associated with printing and distributing invoice documents to your customers. OCIE can help you eliminate costly and time consuming activities such as printing, sorting, mailing and filing of invoices. As invoices generate from your A/R system and upload to OCIE, customers can receive their invoices immediately via email. Customers can access OCIE via the internet and securely view current and previous order documents, invoices, statements and miscellaneous correspondence. With OCIE you can improve customer service and eliminate inefficiencies associated with traditional paper-based invoicing processes. This allows customers to access information 24/7 without tying up valuable A/R staff time.

Proof-of-Delivery System
Use OCIE to capture proof-of-delivery or packing slip documentation. By uploading this information to OCIE prior to printing, OCIE can automatically index and OCR the document so it is searchable by key words, numbers or phrases on the document. As proof-of-delivery documents are signed and returned, the documents can be scanned and uploaded to OCIE for archive with limited index values, such as order number. Your staff can now access the original delivery slip; along with the signed version, by searching on any word, number or phrase in OCIE.

Benefits of OCIE in Accounts Payable & Receivable

Provide a valuable research tool and slash costs related to photo-copying, filing, paper-handling, storage and shipping
Using OCIE to electronically archive important accounting information creates a valuable research tool and allows documents to be accessed by multiple employees regardless of their location and automatically routed for approval and processing without delay. Documents associated with matching or billing can be viewed electronically without having to search for missing documentation, pull information from filing cabinets or wait on departments or off-site locations to deliver stacks of paper documents. Managing documents electronically results in cost savings in physical resources such as photocopying, office supplies, real estate and offsite storage. Labor associated with low value tasks such as filing and retrieving documents are virtually eliminated. Outdated documents can be automatically purged from the OCIE system archive system; eliminating the need to use physical resources to clean out old files and destroy paper copies.

Expedite vendor invoice approval and posting
Reduce costs and inefficiencies by streamlining labor intensive activities associated with vendor invoice approval and posting. Routing documents electronically and data extraction routines can be configured to route documents through an approval process and post matched and validated vendor invoice data to the A/P system. This allows employees to focus on higher value tasks such as invoice exception processing. Accelerating this activity helps increase the opportunity to take advantage of term discounts and eliminates the chance of late payment penalties.

Provide premium customer service at a lower cost
By deploying OCIE as your centralized report and document repository, your staff can access information via a single interface. This allows employees to answer customer inquiries in seconds, cut paper and paper-handling costs, generate efficiencies in how issues are handled, improve the morale of your customer service team, reduce call-backs and increase productivity. Easily provide your vendors and customers with premium service by providing quick access to information.

Promote compliance and accountability
OCIE promotes compliance and protects intellectual property by ensuring information is accessed only by users with appropriate permission. All information stored in the OCIE archive is securely backed-up daily, preserved on legal media and stored off-site; facilitating business continuity and disaster recovery. OCIE eliminates the risk of lost information, imposes consistency and prevents employees from going outside of prescribed corporate policies. Strengthen internal controls and reduce costs and disruption of complying with audits and legal discovery by providing auditors or investigators access to corporate content from a single interface.