Benefits of ap keeper

PROCESS IMPROVEMENT
  1. Faster invoice processingimg1
  • Process time is shortened significantly because
    • Automation provides faster, more accurate information.
    • Better workflow management improves team productivity.
    • Our office in China means around-the-clock operations - we are always working.
  • Automatic approval of invoices and other working items
    • If a charge is expected, it is passed through the system without human intervention for immediate payment.
    • The system is intelligent and, using EBAA (Expectation-Based Authorization Audit) rationale, it will learn what charges are expected.
  • Automatic coding
    • The intelligent system will automatically code the GL / cost centre / division.
    • Using EBAA, the coding for working items (invoices; credit notes; payment instructions etc.) is learned.
  • Multiple-levels of workflow and approvals speeds up the entire process
    • Automatic approval and coding of working items is provided not only to a single-level (e.g. AP analyst), but also to multiple levels of management.
  1. More accurate processing
  • Increased accuracy
    • Automated processes eliminate human errors.
  • Powerful Smart Alert System
    • Ensures you are aware of any and every exception and helps avoid expensive, after-the-fact damage control. Alerts are configurable to your needs, but some commonly-used alert criteria are already available in the system. Alerts can be sent by text, email or through the system to meet the users' requirements.
  • No duplicate invoices or charges
    • Intelligently checks against a variety of criteria to make sure this invoice or charge has not been received before.
  • Automatic verification of data against PO
    • System checks data against PO (if one exists) to validate that the data is correct.
  • Regular expected invoices that are missing are identified
    • System is intelligent and can recognize when an expected invoice has not arrived.
  1. Better business support tools
  • Review and verify invoices.
    • ap keeper gives you valuable reference data that is easily accessible (e.g. PO; previous invoice; attached document or note; outstanding balance; contract # etc.).
  • Faster review and easier verification
    • You can do more reviews, or implement new verification procedures that were not performed before, and therefore, discover more overcharging or invalid charges.
    • Apply more verification controls on your suppliers and their charges.
  • Comprehensive reports
    • Provides powerful analytics and information to decision makers.
    • Reports are designed using Flash (not HTML) for greater security and better graphics.
  1. Enforcement of corporate policies
  • ap keeper's workflow management controls
    • System leaves an audit trail for every process and action.
    • Ensures proper approval is obtained before an invoice is paid.
    • Mandatory validation and verifications are performed before an invoice is approved.
    • Users' access controlled by authority level defined by customer.
  1. Operational efficiency
  • All items are converted to electronic format and automatically centrally stored.
  • Information is accessible by authorized people from anywhere at any time. No more searching in filing room and cabinets, photocopying or inter-office mail.
    • All invoices (any source, any format), payments, credits, etc., are a few clicks away.
      • System automatically archives information; No more manual filing.
      • Image of original invoice is also stored.
      • Complies with all government regulations.
  • Paper invoice storage available
    • If you want to keep paper copies of documents, we can store them, or provide them to you for storage.
    • Documents are stored in indexed boxes for easy retrieval.
  1. Easy integration with accounting software
  • Fully integrated with major systems
  1. Easy and risk free implementation
  • Trial system set-up
    • You can trial ap keeper with your own data to make sure you are comfortable with the system, prior to finalizing agreement.
  • We set up the whole system
    • You just come and use the service
  • No development; No IT work; No project; No capital expense
  • We work with your vendors (with your authorization)
    • All invoices re-routed into the ap keeper system
  • In the transition period, use either system
    • Process the invoices in the old system or in the new system
    • No doubled effort.
INCREASED PRODUCTIVITY
  1. Automation enables your staff to work on higher productivity undertakingsimg2
  • All receiving, filing, inquiring, handling, scanning, loading work are done by ap keeper services
  1. ap keeper covers and removes most low productivity work
  • Most GL coding is done automatically by ap keeper
  • Most fixed, regular, verified and expected invoices are processed automatically, and not handles by humans
    • Staff can focus on the AP issues that require knowledge and decisions.
  1. Integrated and Seamless Team Collaboration
  • Powerful search capability
    • Anyone, with appropriate access to the system, can find any information (even from several years ago) with a few clicks in seconds.
    • Reference information, notes and attached files are linked to the source data. Great for auditors.
  • Automatic re-routing of work to cover for absence and vacations
    • Advance plans can be made to balance workload.
  • Team communication is directly linked to the working items (vendors, accounts, POs, invoices, credits, disputes, payments, notes etc.)
    • All the communication is done inside ap keeper. No need to download and attach the working items to an email in order to send to co-workers; or download a reference file sent by a co-worker and then upload it again to the system (because the co-worker will directly upload the reference file in your conversation); or copy/paste emails to the system (your conversation is kept with the working items).
    • Uploaded files and all conversations are kept and linked to the working items for the future, or for authorized co-workers to reference.
  • Making announcements and/or leaving instructions for upcoming items (invoices, credits, etc.)
    • Leaving notes and instructions for colleagues is easy (even if the working item is not there yet).
  1. Better productivity management and quality control
  • Advanced analytics using KPIs and Dashboard monitoring at individual and team level
  • Allows management to see what is happening in the department and make appropriate corrections.
    • Managers and team members have real-time view of team's and individual's daily work to be done and percentage progress in number of items as well as amount of items.
    • All past due and near past due items are clearly marked and alerted.
    • Waiting time are recorded and analyzed.
  • All working items are organized in user's workspace - categorized and prioritized
    • Clearly shows what items are waiting for processing.
  1. Staff feel more valued
  • AP staff perform more intelligent work; make business decisions
    • No simple data entry.
    • No endless phone calls from vendors or from other departments.
  1. Rapid increase in productivity
  • Advanced search features
    • Reduces time looking for documents.
  • System is easy to transition into and has 24/7 support
    • Very easy to use.
    • Minimal training is required.
  • Operations can be performed from anywhere
    • 7/24 cloud-based service let you do your work at anytime from anywhere.
    • You may perform lots of daily operations through your smartphone or tablet.
  1. Provide better support to other departments
  • All information is a few clicks away
    • You can promptly supply needed information to your partners.
  • Give tailored access to other departments (such as Purchasing, Auditor or Controller)
    • They can get needed information directly from ap keeper, which is quicker and more suitable to their needs
BETTER VENDOR RELATIONS
  1. Vendor Portals greatly improve communicationsImage #4
  • Vendors can view invoice status and payment status 24/7
    • Phone calls greatly reduced.
  • Easier inter-company communications
    • Closer and easier collaboration with vendors through a dedicated portal regarding missing invoices, charge clarification and supplying additional supporting information, late payment, disputes, account balance, etc.
    • Automated communication with vendors about invoice status (missing, delay, inquiry, requesting additional information) helps reducing frustration and improving cooperation
  • Powerful dispute management system
    • Auto send and follow up with vendors
    • Auto reconcile
    • Client/ vendor can communicate directly through portal
  • Convenient invoice uploading
    • Invoice can be submitted online through vendor portal
  • Vendors can update their own contact information directly
    • Reduces the possibility of errors
  1. Vendors can offer flexible payment terms and receive early payment
  • Vendors can request an earlier payment by offering an early payment discount through vendor portal
    • Vendors can interact with client on payment terms on an invoice-by-invoice basis
  1. Vendors do not have to change their invoicing procedure
  • ap keeper accepts any type of invoice, including paper
    • Easy to do business with
  1. Industry-specific content/data for telecoms
  • ap keeper links with specified data for Telecoms (including minutes; circuits etc.).
    • System understands industry, which makes the system easy to use for client and vendor
FINANCIAL BENEFITSImage #5
  1. Cash flow and payment discount benefit
  • Corporate cash flow improves because you can precisely control when you pay your vendors.
    • Operations cost is lowered by 30% to 50%
    • Automation and elimination of a large volume of low productivity work lowers costs
  • Provides opportunity for client to generate additional revenue
    • Dynamic Discounting gives vendors ability to offer additional discounts in return for earlier payment
  • Never miss an early payment discount opportunity
    • Faster processing and appropriate alerts means you will always be advised of early payment discount opportunities.
  1. Avoiding Late Payment Charges (LPC) reduces costs and improves cash flow
  • Alerts means you will always be advised of potential late payments
    • Alerts can indicate if an invoice is close to payment date or if an invoice held up in system.
  • ap keeper communicates with vendor
    • Invoice administration monitors, and advises vendors, of missing invoices.
    • System keeps track of correspondence to ensure any LPC is waived.
  1. Contribute more without increasing staff
  • ap keeper handles most of the low productivity work; staff are focused on those invoices that require AP decisions
    • Departmental productivity can be greatly increased
  1. No major initial investment
  • No requirements for additional hardware or software
    • It is a cloud-based service paid monthly
    • Risk free implementation
  1. No significant demands on IT's time
  • IT can be involved as they are required to be
    • No systems development
  1. Reduce cost by paying invoices directly from Bank via ap keeper
  • No need to print, sign and mail checks