Discover the Ultimate Accounts Payable Automation Solution
In the evolving landscape of financial management, Kefron AP's Accounts Payable Automation Solution emerges as a light of efficiency and accuracy.
Tailored for businesses seeking a transformative approach to accounts payable, our solution automates and streamlines the invoicing process, marking a significant leap in operational effectiveness.
Key Differences Between Manual Invoicing & Accounts Payable Automation
Manual Invoicing
- Time-Consuming: Involves labour-intensive data entry, leading to potential delays.
- Prone to Errors: Manual handling increases the risk of inaccuracies in financial records.
- Cost Intensive: Demands additional staff hours, escalating operational expenses.
- Operational Inefficiencies: Sluggish processing can cause payment delays and cash flow problems.
- Data Extraction Difficulties: Gleaning strategic financial insights from manual systems is often challenging.
Accounts Payable Automation
- Enhanced Efficiency: Automated data entry significantly speeds up the invoicing process.
- Improved Accuracy: Reduces the likelihood of errors, ensuring more reliable financial records.
- Cost Reduction: Streamlines processes, leading to lower operational expenses.
- Prompt Processing: Aids in timely payments, improving cash flow management.
- Superior Analytics: Provides valuable data insights, aiding in strategic decision-making.
Did you Know?
MANUAL DATA ENTRY
Manually keying in the required information takes up to 40% of the overall invoicing process.
Accounts Payable Automation software makes the process almost touch-free and reduces input time to 6%.
PO M ATCHING
The matching of GRN’s and PO’s to supplier invoices takes 15% of the overall process.
With Accounts Payable automation, this can be reduced to just 5%.
MANAGING DUPLICATES
10% of the invoicing process is spent on identifying and removing duplicates from
The work queue.
Accounts Payable Automation solution eliminates all duplicates from the system.
CHASING APPROVALS
Chasing approvals is a time-consuming process for AP professionals, taking up to 15% of the overall Invoicing process.
With Accounts Payable automation this figure can go as low as 5%.
FINDING DOCUMENTS
Searching through folders and files for a particular invoice can take up to 5% of the Overall process.
Accounts Payable Automation software helps AP teams instantly finding what they’re looking for, Reducing this figure to just 1%.
RESOLVING DISPUTES
AP teams spend 15% of their time resolving disputes with other parties.
Automated Solutions reduce this figure to just 5%.
78% of your AP staff time is made available as a manual process is no longer required with Accounts Payable Automation.
Key Benefits of Automated Invoicing
Increased Efficiency
Kefron AP’s Accounts Payable Automation Solution streamlines your invoicing process, significantly speeding up accounts payable operations and freeing staff for strategic work.
Cost Savings
Utilising Kefron Accounts Payable automation software reduces operational expenses by minimising manual tasks and paperwork, leading to substantial cost reductions.
Accuracy and Reduced Errors
Leveraging automated invoicing technology, Kefron AP ensures high accuracy in data handling, cutting down on costly errors typically associated with manual entry.
Compliance Enhancement
Kefron AP’s solution simplifies compliance and audit readiness, thanks to its systematic tracking and transparent reporting features.
Streamlined Workflows
Standardising invoice processing, Kefron AP’s Automation Solution ensures a consistent and efficient approach to managing invoices.
Real-Time Insights
Gain immediate financial insights with Kefron AP dashboards, aiding in informed decision-making and strategic planning.
How Accounts Payable Automation Works?
Watch this video to discover how automated invoice processing works
Expanded Features of Kefron AP Accounts Payable Automation Solution
- 2 or 3 Way PO Matching
- Automated Non-PO Matching
- Dashboards: Invoice Analytics
- Self-Service Supplier Portal
- Supplier Statement Reconciliation
- User-Friendly Interface
Kefron AP offers a highly intuitive and effective solution for 2 or 3 Way Purchase Order Matching. This feature ensures seamless tracking and processing of POs, aligning with our automated invoicing solutions to facilitate accurate and efficient invoice reconciliation. It’s designed to handle the complexities of matching invoices with corresponding POs and delivery receipts, ensuring consistency and compliance in your financial transactions.
Addressing the unique challenges of Non-PO invoice processing, Kefron AP’s robust automated system efficiently handles ad-hoc invoices. This feature is integral to our Accounts Payable Automation, providing a streamlined and reliable process for managing invoices that fall outside the regular PO-based workflow, ensuring comprehensive coverage of all invoicing scenarios.
Our Accounts Payable Automation solution includes a proactive Invoice Analytics dashboard, offering real-time insights into your invoice data. This powerful feature aids in strategic decision-making, providing visibility into spending trends, processing times, and supplier performance. It’s a critical tool for businesses seeking to leverage data for enhanced financial management and operational planning.
The Self-Service Supplier Portal, a key component of our Accounts Payable Automation, empowers your suppliers by providing them with a streamlined, user-friendly platform. This portal facilitates better communication, invoice submission, and tracking, enhancing the overall efficiency of your accounting processes and fostering stronger supplier relationships.
Kefron Accounts Payable Automation solution includes an advanced Supplier Statement Reconciliation feature. This interactive tool is essential for maintaining error-free control over your expenditure. It simplifies the reconciliation process, ensuring accuracy in matching supplier statements with corresponding invoices and payments, thereby enhancing financial integrity.
Kefron AP’s Automation Software boasts a user-friendly interface, designed with simplicity and accessibility at its core. This intuitive interface ensures that users, regardless of their technical expertise, can navigate the system with ease. The layout is clean and straightforward, with clear labels and logical navigation paths that make it simple to find and use various features.
Ensuring Business Continuity and Growth with Accounts Payable Automation
Adaptability to Changing Business Needs
Accounts payable automation is designed with flexibility in mind, allowing it to adapt to the evolving needs of businesses. Whether scaling up during periods of growth or adjusting processes during economic downturns, the system supports dynamic operational changes without compromising efficiency.
Employee Empowerment and Satisfaction
By automating repetitive and mundane tasks, accounts payable automation frees up employees to focus on more strategic activities. This shift not only enhances job satisfaction but also fosters a more innovative and productive work environment, leading to higher employee retention and morale.
Strategic Vendor Management
Effective vendor management is crucial for maintaining smooth supply chain operations. Automation solutions provide tools for better vendor communication, timely payments, and performance tracking, ensuring that supplier relationships are managed strategically and beneficially.
Cost Allocation and Budgeting
With detailed invoice tracking and reporting, businesses can more accurately allocate costs and manage budgets. This precision helps in planning and controlling expenses, ensuring that financial resources are used optimally.
Experience Kefron AP
Take the first step towards revolutionizing your accounts payable process. Book a demo today to experience the full capabilities of Kefron Accounts Payable Automation Solution and embark on a journey towards enhanced efficiency and strategic financial management.
Accounts Payable Automation Experts
Continuous Improvement Team
Kefron AP offers a team of data specialists to optimise and train the software to ensure near-perfect accuracy, freeing you from the daily management of invoice scanning technology.
Customised Advanced Workflow Functionality
Kefron AP is purpose-built for AP functions. We offer advanced workflow features to address unique business challenges, such as notifying stakeholders when it’s time to receipt goods or services.
Touchless Processing Excellence
With Kefron AP, you can experience high touchless processing rates – consistently achieving results in the high 80s. This level of efficiency far exceeds market standards, making invoice processing a breeze.
Tailor-Made Configuration
Kefron AP platform is tailored to meet the unique challenges of accounts payable departments, unlike solutions with out-of-the-box functionality. We take the time to understand and tailor Accounts Payable Automation solution to meet those needs.
Combines AI Processing with IQ for Touch-Free Accounts Payable
We heavily invested in integrating AI into our accounts payable automation software, recognising both its strengths and shortcomings to optimise their solution for our clients.
Only Kefron AP combines AI with our team of experienced invoice software engineers for award-winning automated accounts payable. Kefron AP recognises that while AI excels at repetitive tasks, its ability to understand context and handle exceptions is limited.
To address this, Kefron combines the speed and scalability of AI with human intelligence, resulting in a synergistic approach that optimises automated invoice processing.
This combination has been proven to boost extraction rates, enhance our automated invoice processing, minimise manual data entry, and provide quicker processing times to our clients.
Adaptable Pricing for Every Business
Only Pay For What You Process!
WHATEVER YOUR INVOICE VOLUME
Whether you’re a small business or a large enterprise, Kefron AP pricing is designed to be as flexible as you need. Manage from a few hundred to hundreds of thousands of invoices with our simple, volume-based fees. With Kefron AP, you only pay for the invoicing services you actually use.
A TAILORED, ONE-OFF IMPLEMENTATION FEE
At Kefron, we understand that no two companies are the same. That’s why our Kefron AP pricing includes a tailored, one-time implementation fee. We assess your specific invoicing needs and provide a project estimate upfront—no hidden fees or surprises.
Connection to all ERP and accounting systems
Kefron Accounts Payable Automation Solution is engineered for effortless integration with your current financial systems.
This ease of integration ensures a smooth transition to automated processes, maintaining continuity in your financial operations.
Why Use Accounts Payable Automation?
“Working with Kefron has been a very positive experience. Kefron AP has reshaped our accounts payable function for the better and positively influenced the behaviours and practices of hundreds of council employees and thousands of suppliers”
Tony Newbould
Deputy Head of Shared Services
We wanted to grow through acquisition while reducing the need for hiring staff, mundane work like processing supplier invoices. Kefron AP extracts 99% of the data first time off accounts payable supplier invoices.”
Kelly Towel
Head of Accounts Payable
“From the start, Kefron was a pleasure to work with. They took the time to understand our requirements and ensure we were happy before moving to go-live.”
Janet Hendrick
AP Manager
“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”
Paul Jepson
Financial Controller
FAQ
What is Accounts Payable Automation?
Accounts Payable Automation, a key aspect of finance automation, involves using Accounts Payable Automation Software to digitalise and streamline accounts payable tasks, significantly enhancing processing efficiency.
How to Automate Invoice Processing?
Implement an Accounts Payable Automation Tool to capture, match, and process invoices with minimal manual intervention, enhancing efficiency. Kefron AP’s software to capture invoice data, match it against POs or contracts, automate approvals, and process payments seamlessly.
What are the Benefits of Automated Invoicing?
Automated invoicing offers cost savings, reduced manual errors, improved compliance, and faster processing, crucial for efficient financial management.
Can Accounts Payable Automation Software Integrate with ERP Systems?
Yes, modern Accounts Payable Automation Software seamlessly integrates with various ERP systems, enhancing financial workflow efficiency.
Is Accounts Payable Automation Secure?
Absolutely, Accounts Payable Automation Tools employ robust security protocols, including encryption, to safeguard sensitive financial data.
Is Accounts Payable Automation Suitable for Small Businesses?
Definitely, Accounts Payable Automation Solutions are scalable, making them ideal for businesses of all sizes, including small enterprises.
Book an Accounts Payable Automation Solution Demo
Learn if your business is suitable for Accounts Payable 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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