AP Automation for Healthcare: Revolutionising Financial Management
Advancing Healthcare Financial Operations
In the dynamic healthcare industry, managing financial operations efficiently is vital for seamless patient care and organisational growth. Kefron’s AP automation for healthcare revolutionises traditional accounts payable processes, transforming them into a streamlined, efficient system. AP automation not only speeds up invoice processing but also enhances accuracy, deepens supplier relationships, and provides critical financial insights, essential for healthcare finance.
Embrace the power of healthcare AP automation to unlock unprecedented value in your healthcare organisation’s financial operations. With improvements in healthcare accounts payable, organisations can expect not just enhanced efficiency but also greater compliance and financial transparency.
Streamlining Healthcare Accounts with AP Automation
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 prioritisation 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.
Healthcare AP Automation: Efficiency and Accuracy
- Efficiency & Time Savings
- Cost Reduction
- Compliance & Fraud Prevention
- Vendor Relationships
- Visibility & Control
- Scalability for Growth
Automating Invoice Processing
Kefron AP digitises the entire 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 AP Automation for Healthcare Secor
Ready to learn more how Kefron AP enhance healthcare 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 Healthcare Accounts Payable Excellence
Kefron AP seamlessly integrates with leading ERP systems, enhancing healthcare financial process automation.
Our dedicated success team ensures a smooth setup with your healthcare accounting system, streamlining your AP automation journey.
AP Automation in Healthcare Sector
Visibility and accessibility is very straightforward. It also helps with our statutory accounts which usually span between a few months annually. That itself was a big challenge and time consuming for us.”
Vivek Goradia
Group Financial Controller
Case Study: Transforming Healthcare Finance with AP Automation
FAQ
What is AP Automation for Healthcare?
AP automation for healthcare revolutionises traditional accounts payable processes, transforming them into a streamlined, efficient system. This technology accelerates invoice processing, enhances accuracy, deepens supplier relationships, and provides critical financial insights.
How does Healthcare AP Automation enhance financial operations?
Healthcare AP automation simplifies and accelerates invoice processing, reduces errors, and improves compliance. It empowers healthcare organisations to manage financial operations more efficiently, ensuring seamless patient care and organisational growth.
What are the benefits of AP Automation in the Healthcare Sector?
The key benefits include improved efficiency and time savings, cost reduction, enhanced compliance and fraud prevention, stronger vendor relationships, and increased visibility and control over financial processes.
What features does Healthcare AP Automation offer to manage supplier relationships?
Features such as the Self-Service Supplier Portal empower suppliers with tools to manage their invoices more effectively, enhancing communication and streamlining the accounting processes between healthcare businesses and their suppliers.
How does AP Automation contribute to healthcare compliance and audit readiness?
AP automation 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.
What advanced features does Kefron AP offer for healthcare invoice management?
Kefron AP offers Intelligent Document Recognition, 2 or 3 Way PO Matching, Automated Coding, and an Invoice Analytics Dashboard for real-time insights, all tailored specifically to the needs of the healthcare sector.
Ready to transform your healthcare 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
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