Retail Accounts Payable Automation
Multiple stores. One AP platform.
In the competitive world of retail, achieving streamlined and accurate financial operations is essential for growth and smooth operations. Retail AP Automation is a game-changer in this arena, transforming outdated accounts payable tasks into a system of unparalleled efficiency and precision.
Adopting Retail AP Automation significantly speeds up invoice processing. This streamlined approach not only enhances relationships with suppliers but also unlocks valuable financial insights, ushering in a new level of efficiency within the retail industry.
Retail AP Workflow Optimisation
2 or 3 Way PO Matching
Enables efficient PO invoice processing through intuitive matching, streamlining the tracking and approval of purchase order-related invoices.
Automated Coding
Handles ad-hoc non-PO invoices with a robust process that minimises manual data entry and errors through automated coding, ensuring accurate processing and categorisation.
Invoice Analytics Dashboard
Provides real-time insights into invoice data, offering actionable intelligence for better decision-making and strategic financial management.
Self-Service Supplier Portal
Empowers suppliers with tools to manage their invoices, enhancing communication and streamlining the accounting processes between businesses and their suppliers.
Supplier Statement Reconciliation
An interactive feature for error-free reconciliation, ensuring accurate spend control and financial integrity.
Intelligent Data Extraction & Easy Capture
Utilises Machine Learning and AI for automatic and accurate data capture from invoices, facilitating touch-free processing and significantly reducing manual efforts and errors.
Enhanced Communication & Approval
Allows for direct on-invoice communication, enabling faster review, approval processes, and accountability, while effectively reducing processing bottlenecks.
Advanced Invoice Tracking
Ensures efficient invoice management through sophisticated tracking features, including automatic notification reminders and prioritization of urgent invoices
Audit-Ready System
Creates a compliant environment ready for both internal and external audits by providing searchable access to any invoice and its accompanying details, ensuring compliance and transparency.
Elevating Retail Efficiency: Embracing Accounts Payable Automation
- Efficiency & Time Savings
- Cost Reduction
- Compliance & Fraud Prevention
- Vendor Relationships
- Visibility & Control
- Scalability for Growth
Automating Invoice Processing
Kefron AP digitises the entire retail invoice process, significantly reducing the time needed for data entry, verification, and processing of invoices. It automates repetitive tasks, allowing finance teams to focus on more strategic work.
Lowering Invoice Processing Expenses
By automating invoice processing, Kefron AP lowers the cost per invoice processed. This reduction arises from minimising manual interventions, reducing errors, and accelerating the invoice lifecycle, which together contribute to lower overall operational costs.
Maintaining Audit Trails
The system maintains detailed audit trails for every invoice processed, enhancing transparency and accountability. This supports compliance with financial regulations and aids in identifying discrepancies that could indicate fraudulent activities.
Ensuring Timely Payments
By streamlining the invoice approval and payment process, Kefron AP ensures timely payments to vendors, enhancing trust and relationships. The system’s efficiency can also lead to opportunities for early payment discounts, further benefiting the organisation.
Real-Time Invoice Monitoring
Kefron AP provides 360° visibility of the invoice processing workflow, enabling finance leaders to monitor the status of invoices in real-time. This increased transparency allows for better cash flow management and strategic financial decision-making.
Adapting to Business Expansion
The solution is designed to be scalable, accommodating increasing volumes of invoices as the business grows. This flexibility ensures that the AP process remains efficient and effective, regardless of the company’s size or invoice volume.
Did you know?
Making the right choice in invoicing automation software is essential.
It brings unparalleled savings up to
99%
touch-free
processing
67%
quicker invoice
approval
46%
faster invoice
payments
Advanced Retail Accounts Payable Automation
Ready to learn more how Kefron AP enhance retail financial processes though advanced AP Automation?
How AP Automation Works?
Invoice Capture
Auto-upload paper invoices & e-invoices. Kefron AP reads and extracts required invoice fields.
Process
Auto-distribute each invoice to PO or Non-PO workflows for processing
Approval
Custom workflows auto-direct to pre-determined approvers via in-app notifications
Post to ERP
Clean Validated data posted to ERP system. Access invoices anytime with keyword search & retrieve
Integration with Your ERP for Retail Excellence
Kefron AP seamlessly integrates with leading ERP systems, enhancing retail financial process automation.
Our dedicated success team ensures a smooth setup with your retail accounting system, streamlining your AP automation journey.
AP Automation in Retail
The system’s insight into each invoice’s status has transformed our AP team’s workflow, offering unparalleled clarity and efficiency. The unanimous feedback: it’s a game-changer for easier, more effective AP automation.”
Colin McDougall
Head of Group Transactional Services
“I knew that if we could free up time then we could focus much more on more valuable tasks, this and the fact that we could get much better visibility of the overall process made me choose Kefron AP”.
Paul Jepson
Financial Controller
“In my 30 years working within the AP function, Applegreen’s AP process was certainly one of the more complex that I had come across. It was a massive challenge to undertake and I have been incredibly impressed with how Kefron AP handled it.”
Sandrine Tugler
Accounts Payable Manager
FAQ
What is Retail AP Automation?
Retail AP Automation refers to the use of technology to streamline the accounts payable process in the retail industry. This includes automating invoice receipt, approval, and payment processes to improve efficiency and accuracy.
How does Retail Accounts Payable Automation benefit my retail business?
Retail Accounts Payable Automation can significantly improve your business by speeding up invoice processing, reducing errors, enhancing supplier relationships, and providing valuable financial insights. This leads to improved cash flow management and operational efficiency.
Can Retail AP Workflow Optimisation impact my business’s bottom line?
Yes, Retail AP Workflow Optimisation can positively impact your bottom line by reducing processing times, lowering labour costs associated with manual invoice processing, and taking advantage of early payment discounts. This optimisation also minimizes late payment penalties, improving your financial health.
What are the first steps towards implementing Retail Supplier Invoice Automation?
The first steps include evaluating your current AP processes to identify inefficiencies, researching Retail Supplier Invoice Automation solutions that fit your business needs, and choosing a solution that integrates seamlessly with your existing financial systems. Training your team on the new system is also crucial for successful implementation.
Ready to transform your retail AP processes?
Book a demo and learn how your business can benefit from AP Automation
- Calculate % of current process that can be automated touch-free
- Identify bottlenecks in your current process
- Calculate your first year ROI
- Tailored demo to your AP Processes
Please confirm your country