Accelerate Invoice Processing through Intelligent Capture and Approval with Hyland’s AP Automation Solutions
Manual handling of invoices can prolong the process of capturing, tracking, and closing the books, leaving no room for visibility into the process and decision-making. Embracing Hyland invoice processing helps businesses of all sizes ditch the paper chase and be accurate and on time with invoice collection, routing, tracking, and compliance, with a view into real-time bottlenecks and challenges.
Hyland invoice processing is an end-to-end AP automation software, leveraging intelligent data capture and workflow automation to help businesses increase visibility on invoice status, control cash inflows and access of invoices, and reduce manual errors. As a result, it provides users with an accurate invoice with all supporting documentation, significantly reducing the time taken for an invoice audit.
Intelligently capture information from paper and e-invoices and add additional data directly from ERP or other accounting systems.
Automates document routing to the appropriate professionals by quickly resolving identified errors and inconsistencies.
Gain access to all accounting documents by storing them in one central location, thereby increasing the visibility and control over the invoices.
SquareOne’s Efficient Implementation Strategy for Hyland Solutions
SquareOne’s approach to implementing the Hyland invoice processing solution is likely centered around delivering an efficient and scalable solution that helps
customers enhance and accelerate their invoice processing.
Initial Consultation and Discovery
Assess the client’s current invoice processing method, workflow efficiency, and associated challenges in closing the books faster. This helps our team identify the pain points that need to be addressed while tailoring the solution per their business objectives.
Solution Design and Customisation
As a next process, we at SquareOne step into the designing and customising of the Hyland accounts payable invoice processing solution that reduces manual intervention and human errors. This includes integration with ERP, automating workflows, and validating approvals.
Implementation and Testing
At SquareOne, we begin the implementation process with a pilot project to ensure the solution functions seamlessly and meets all necessary criteria. Once validated, we proceed with a full-scale rollout, carefully managing the transition to avoid any disruption to business operations.
Workshops and Training
We conduct workshops and training sessions for users and stakeholders to ensure they maximise the full potential of the Hyland invoice processing solution. This helps them adjust and adapt to the new system.
Performance Tracking and Post-Implementation Support
As part of our post-implementation support, we assist the client in tracking accounts payable invoice processing, workflow efficiency, error rates, and cost savings. This enables us to assess performance and offer ongoing improvements and optimizations for the invoice processing workflow.
SquareOne’s Efficient Implementation Strategy for Hyland Solutions
SquareOne’s approach to implementing the Hyland invoice processing solution is likely centered around delivering an efficient and scalable solution that helps
customers enhance and accelerate their invoice processing.
Initial Consultation and Discovery
Assess the client’s current invoice processing method, workflow efficiency, and associated challenges in closing the books faster. This helps our team identify the pain points that need to be addressed while tailoring the solution per their business objectives.
Solution Design and Customisation
As a next process, we at SquareOne step into the designing and customising of the Hyland accounts payable invoice processing solution that reduces manual intervention and human errors. This includes integration with ERP, automating workflows, and validating approvals.
Implementation and Testing
At SquareOne, we begin the implementation process with a pilot project to ensure the solution functions seamlessly and meets all necessary criteria. Once validated, we proceed with a full-scale rollout, carefully managing the transition to avoid any disruption to business operations.
Workshops and Training
We conduct workshops and training sessions for users and stakeholders to ensure they maximise the full potential of the Hyland invoice processing solution. This helps them adjust and adapt to the new system.
Performance Tracking and Post-Implementation Support
As part of our post-implementation support, we assist the client in tracking accounts payable invoice processing, workflow efficiency, error rates, and cost savings. This enables us to assess performance and offer ongoing improvements and optimizations for the invoice processing workflow.
Core Components of Hyland Invoice Processing Solutions
Optical Character Recognition
Enables intelligent document capture by scanning of invoices, extraction of line items, and entry of information without manual intervention. It also helps businesses sort documents based on meta and content, reducing search time.
ERP Integration
Empowers businesses to retrieve data such as vendor details, goods receipts, and purchase history from any ERP application or accounting platform directly without the need to toggle between multiple screens.
Workflow Automation
Creates custom workflows based on organisational requirements to automate the routing process to the desired department for review or approval. This helps accelerate the invoice processing for predictable decisions, thereby reducing the headcount required for invoice processing.
Document Management
Control access to sensitive information by storing all types of accounting documents in one central location. This helps improve invoice security and integrity. Also, it streamlines the search and retrieval process by easily indexing the documents.
Real-Time Dashboard
Provides enhanced visibility into capture processing and metrics such as extraction accuracy, performance efficiency, and other key indicators in real-time through graphs and maps. This helps businesses to read complex insights and stay ahead of invoice processing challenges.
The Multifaceted Impact of Hyland Invoice Processing Solution
Eliminates paperwork and manual processing
Helps identify invoice status in real time
Enables faster invoice approval time
Ensures compliance with internal controls and external regulations
Supports both on-premise and cloud-based hosting
Allows vendors to submit and access invoices from anywhere
The Competitive Edge of Partnering with SquareOne
We Facilitate Industry-Wide Transformation with Innovative Invoice Processing Solutions
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FAQs
- Faster Processing Times: Automates manual tasks such as data entry, validation, and payment approval, allowing for quicker invoice processing and improved cash flow.
- Reduced Errors: Minimises human error by intelligently caputring data, validating, and matching invoices, ensuring greater accuracy and fewer discrepancies.
- Cost Savings:Lowers operational costs by reducing manual intervention, paper work, and rework, improving overall expenses and efficiency.
- Streamlined Approvals: Expedites invoice processing through automated workflows that reach the right person, facilitating faster approvals.
- Improved Vendor Relationship:Allows vendors to access portals and submit invoices with a view into the payment status, leading to a stronger and longer-standing relationship.
